Page 24 - Technical Analyst News Today

Thursdays session saw Kotak Mahindra Bank shares ending 11% lower at Rs 1,643 on NSE while Hitachi Energy India shares ended nearly 14% up at Rs 9,342 on BSE.

India Business News: Stock market today: According to V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, the market continues to exhibit a bullish tr

"Despite the bulls maintaining their upward trajectory for the fourth consecutive session, theres a noticeable lack of momentum," said Rajesh Bhosale, Technical Analyst, Angel One.

Stocks that were in focus included names like SAIL, which rose 7.36%, MCX, which was down 4.63%, and HUL, whose shares declined 4.65% on Wednesday.

The benchmark NSE Nifty50 and the S&P BSE Sensex indexes each settled about 0.2% higher at 22,402 and 73,853, respectively. Nifty on Wednesday ended 34 points higher to form a Doji candle on the daily chart which indicates indecisiveness prevailing in the marketplace at the current juncture.

Technically, Manappuram Finance is holding the support of 21-exponential moving average, post sideways formation. A major move is expected to emerge over the 195 level

Grasim Industries stock zoomed 4.11% to a record high of Rs 2374.75 against the previous close of Rs 2280.95 on BSE. Market cap of the firm climbed to Rs 1.61 lakh crore.

Stock market today: Sensex closed 560 points, or 0.77 per cent, higher at 73,648.62 while the Nifty 50 ended the day with a gain of 189 points, or 0.86 per cent, at 22,336.40.

Expect Nifty to continue its upmove towards 22,562, which is the 78.6% Fibonacci retracement level of the fall from 22,776 to 21,777, says Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

Based on the OI percentage, a total of 76 stocks were on the short-covering list which included IndiaMART InterMESH, Bata India, Wipro, Indraprastha Gas, and Exide Industries.