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The New India Assurance Company (₹174 2): Buy - The Hindu BusinessLine

Yoganand D BL Research Bureau | Updated on June 16, 2021 New India Assurance× Investors with a short-term perspective can buy The New India Assurance Company (NIACL) at current levels. Since the stock took support at ₹100 in early November 2020 and began to trend upwards, it has been in an intermediate-term uptrend. After a corrective decline from the 52-week high of ₹197 recorded in mid-February this year, the stock found support at ₹140 in late April. The stock subsequently started to trend upwards and has been in a short-term uptrend since April low. Following a minor corrective decline in the past week, the stock has taken support and gained 5 per cent with above average volume on Wednesday. This rally has strengthened the short as well as intermediate-term uptrend.

Nifty today: SGX Nifty up 50 points; here s what changed for market while you were sleeping

Asian shares opened positive but gave up their gains. The stocks were up as May US payrolls report showed the recovery on track, but not so hot that it might bring forward a policy tapering from the Federal Reserve. MSCI s broadest index of Asia-Pacific shares outside Japan was down by 0.29 per cent.

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