Page 35 - Technical Research News Today

Shares of hydropower producer NHPC Ltd have surged 161% from their 52-week low in nearly a year. The multibagger stock, which fell to a 52-week low of Rs 37.80 on February 27, 2023, rose to a high of Rs 98.90 in the current session. In comparison, the BSE power index gained 95% during the period. NHPC shares are on a bull run in the short term too climbing 82% in the last three months.

Continued selling of Indian stocks by foreign portfolio investors coupled with high stock valuations are among some of the concerns for the investors. - BSE Market Cap Hits Record High Of $4.7 Trillion, Indian Stock Indicants Up For 5th Consecutive Session

Overall, analysts maintain a positive yet cautious stance as Nifty 50 is set to retest its record high level, but there could be bouts of intra-day volatility. A possible breakout attempt for Nifty 50 above 22,150 could lead to an uptrend to inch towards 22,500+.

Investor expectations of a Fed rate cut were boosted as US retail sales slumped

The other stock which Jani picked was Metropolis Healthcare Ltd. "For Metropolis, expected target would be Rs 1,740. Keep stop loss placed at Rs 1,689," he mentioned.

The critical support zone for Nifty is now positioned at the 10-20 EMA zone of 21750-21800, with resistance at higher levels expected around the 22120-22100 zone.

Nvidia becomes the third most valuable US company, surpassing Alphabet, with a market capitalization of $1.8 trillion.

Though analysts expect rally to extend further in the absence of any major triggers overseas, they caution investors against overstretched valuations

For the week, BSE Sensex and Nifty50 indices gained 1 percent each

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