Page 10 - Trade Setup News Today

Stocks that were in focus include names like The New India Assurance Company rose 20%, General Insurance Corporation gained more than 16% and Sun Pharma Advanced Research Company (SPARC) closed with gains of nearly 6% to hit a fresh 52-week high on Friday. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout.

A sustainable up move above 19,900 can take the Nifty towards all-time highs but a decisive move below 19,600 will likely open a near-term downward correction

A long build-up was seen in 56 stocks, including the Balrampur Chini Mills, Hero MotoCorp, GNFC, BPCL, and Aarti Industries.

A short build-up was seen in 69 stocks, including Oracle Financial, IndusInd Bank, Kotak Mahindra Bank, State Bank of India, and AU Small Finance Bank

A long build-up was seen in 73 stocks, including Indian Energy Exchange, IRCTC, SBI Life Insurance Company, Voltas and Oberoi Realty

A short build-up was seen in 70 stocks, including Balkrishna Industries, Bajaj Finance, Aditya Birla Fashion & Retail, Bandhan Bank, and L&T Finance Holdings

Momentum indicators suggest that the Nifty will consolidate in the near term. The Nifty will have to hold the crucial support of 19,600-19,450. If it manages to go past 19,850 decisively, it can even cross the 20,000 mark, experts say

A long build-up was seen in 65 stocks, including India Cements, Manappuram Finance, Coforge, ONGC, and Mahanagar Gas.

Based on the OI percentage, 83 stocks were on the short-covering list. These include Manappuram Finance, MRF, Indiabulls Housing Finance, Bosch, and Dalmia Bharat.

Based on the OI percentage, 61 stocks saw long unwinding, including Chambal Fertilisers and Chemicals, Alkem Laboratories, Balkrishna Industries, Metropolis Healthcare, and United Spirits