Page 32 - Technical Analyst News Today

Nifty on Tuesday made a fresh peak and ended 75 points higher near the 22,200 mark to form a long bull candle on the daily charts. The index has been making a higher high both on daily and weekly charts.

Day trading stocks: Experts have recommended nine stocks to buy today — UPL, Devyani International, Titan, Tata Communications, TVS Motor, Laurus Lab, GNFC, Mastek, and Maruti Suzuki India Ltd

Paytm stock price may be rising but some brokerage firms have downgraded the stock after RBIs action.

Stocks that were in focus include names like RIL, which rose 1.14%, Adani Green, which jumped 2.11%, and TCS, whose shares declined 1.05% on Wednesday.

Day trading stocks: Market experts have recommended nine stocks to buy today — Axis Bank, IRFC, MRPL, HDFC Life, SJVN, HUDCO, Century Text, Sasken Technologies, and SAIL

So is a new record high on the cards? Technical experts give new support and resistance levels for the Nifty. Most experts anticipate resistance around 22,000-22,150 levels meanwhile support for the benchmark is seen around 21,800 levels.

ITC shares, which stood at Rs 213.95 on February 25, 2022 ended at Rs 473.95 on January 5 this year, more than doubling investor wealth during the period.

“Noteworthy support from heavyweight RIL spurred the rally, propelling the index. Global markets trading on a positive note further strengthened the rally,” said Om Mehra, Technical Analyst, SAMCO Securities.

The index is currently placed at the edge of breaking above the immediate hurdle of 21,850 level and a decisive move above this resistance is likely to pull Nifty towards 22,000-22,100 levels in the short term. Immediate support is at 21,720 level, said Nagaraj Shetti of HDFC Securities.

Q3 Results Today: Mahindra & Mahindra, NMDC, Muthoot Finance, The Fertilisers and Chemicals Travancore, Gland Pharma, Sun TV Network, Aditya Birla Fashion, and Retail, Glenmark Pharmaceuticals are among the top companies scheduled to release their quarter 3 2024 results on February 14