Page 39 - Technical Analyst News Today

Day trading stocks: Market experts have recommended six stocks to buy or sell on Tuesday — HCL Tech, Sundaram Finance, Paytm, Bank of India, Shriram Finance, Astral

"Overall we expect markets to remain in a positive range. Stock-specific action will gather pace with the start of the earning season," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

​Sectorally, buying was seen in IT, capital goods, telecom, and realty, while selling was seen in healthcare, consumer durables, metal, and utilities. Stocks that were in focus include names like Alok Industries which was up nearly 20%, Sun Pharma, which rose more than 9% to hit a fresh high, and Endurance Technologies, which closed with gains of nearly 10% to hit a fresh all-time high on Friday.

Adani Power shares staged a bullish pivotal breakout in the previous trading session with a breakaway gap, indicating strength and momentum in the price action.

Stocks that were in focus include names like Bajaj Auto, which fell 0.81%, Sobha, which jumped 15.8%, and Adani Ports, whose shares jumped 2.5% on Thursday.

On December 4, 2023, Axis Banks stock reached a peak at 1151, followed by a throwback period. During this throwback, the stock formed an Adam and Adam Double Bottom pattern near a crucial support zone.

Stocks that were in focus include names like Sobha Ltd which was up more than 16% to hit a fresh record high, Torrent Power gained more than 7% and Tata Consumer Products closed with gains of over 3% to hit a fresh record high.

Stocks that were in focus included names like DMart, which fell 4%, RVNL, which jumped 2.65%, and VST Industries, whose shares declined 1.7% on Wednesday.

Shares of Adani Enterprises surged about 9.14 per cent to Rs 3,199.45 on Wednesday, commanding a total market capitalization close to Rs 3.65 lakh crore.

"Nifty formed a bearish candle with a substantial body in the daily chart. The Donchian Channels, which identify bullish and bearish extremes, indicate that Nifty is holding its middle band. Key support levels are identified at 21,400, while resistance is placed at 21,700 levels," said Om Mehra, Technical Analyst, SAMCO Securities.