Page 29 - Technical Analyst News Today

Short covering may emerge if the index decisively crosses 47,500, while the 47,000 mark is anticipated to hold in todays trade, analysts have said.

Stocks that were in focus included names like Zomato, which fell 3.16%, IndiGo, which rose 3.52%, and RVNL, whose shares dropped 3% on Monday.

Adani Ports share price surged by 92 per cent in the last year, outperforming Nifty 50. The stock hit an all-time high last week after reporting a 33 per cent rise in cargo volumes. Analysts forecast continued growth, with targets ranging from ₹1,560 to ₹1,600.

Positive setup was seen in stocks like Tata Chemicals, Tata Power, Tata Steel, OFSS, Glenmark, HAL, Tata Consumer, Bajaj Auto, Indian Hotels, Trent, BEL, Tata Motors, Zydus Life and SRF.

Domestic market benchmark Nifty 50 fell over half a per cent on Monday due to banking heavyweights like HDFC Bank, ICICI Bank, and SBI. Technical experts expect the index to trade in a range with potential buying above 22,600 levels and selling below 22,400 levels.

Stocks that were in focus included names like Infosys, which rose 0.16%, Shriram Finance, which jumped 3.8%, and Hindustan Copper, whose shares increased 6.44% on Thursday.

Suzlon Energy is hovering around the 50-day simple moving average (SMA) placed at Rs 43 level. A sustainability of the level would build a positive bias.

Shares of BHEL jumped 4.40 per cent to Rs 237.35 during the trading session Friday, with its total market capitalization of more than 82,000 crore.

Tata Steel shares zoomed 6.45% to Rs 150 on BSE. Market cap of the firm rose to Rs 1.86 lakh crore.

CAMS is Indias largest Mutual Fund Transfer Agency that provides MF Services & Statements. Service partner to AIFs, Insurance Companies, Banks & NBFCs, according to the company website.