Page 28 - Technical Analyst News Today

Jyothy Labs, after a 20% fall, aims for a Rs 500 target. With RSI at 50.1, a positive divergence hints at further rise. Traders could buy at Rs 448-453 with a stop-loss at Rs 425.

Tata Steel stock zoomed 2.75% to Rs 160.20 on BSE. Tata Steel stock opened higher at Rs 156.85 against the previous close of Rs 155.90 on BSE.

Indian Hotels stock closed 0.96% higher at Rs 591.35 in Thursday's trade against Rs 312.5 level on March 28, 2023. Market cap of the firm rose to Rs 84,174 crore on BSE.

Stocks that were in focus include names like Maruti Suzuki, which rose 2.53%, HDFC AMC, which declined 0.36%, and Adani Power, whose shares fell 1.63% on Wednesday.

Short-term traders can look to buy JSW Steel stock now for a possible target of Rs 860-880 in the next 1-2 months, suggest experts.

DMart shares have fallen over 23% from its record high of Rs 5,899.90 reached on October 18, 2021. The stock is in a strong uptrend in the last six sessions.

Higher rollovers for Bank Nifty suggests long bets for April Series. Axis Securities recommends Bull Call Spread strategy

Nooresh Merani provides insights on stock picks, targeting Indian Hotels at Rs 620 and Hindalco at Rs 600-620. He says: "It is tough to take the expiry call tomorrow, but the bias is positive. Overall, the broader markets have done better over the last two-three sessions and that makes the bias all the more positive."

Market has reached an oversold condition at key support levels and the current situation represents a corrective phase within the ongoing bull market. This indicates a potential opportunity to initiate long positions.

Stocks to buy: According to Axis Securities, if Nifty crosses and sustains above the 22,200 level, it would witness buying, leading the index towards 22,300-22,500 levels. However, if the index breaks below the 21,900 level, it would witness selling, taking the index towards 21,800-21,600.