Big movers on D-Street: What should investors do with Tata Consumer, Tata Motors and Olectra?
The Nifty and BSE Sensex have risen about 20% each this year and are on course for their best month of 2023 with 8% gains.
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The Nifty and BSE Sensex have risen about 20% each this year and are on course for their best month of 2023 with 8% gains.
Stocks that were in focus included names like NIIT, which rose 20%, PNB, which gained 8.5%, and Aarti Drugs, whose shares jumped 3% on Wednesday.
Stocks that were in focus included names like L&T, which rose 1.88%, Cochin Shipyard, which fell 10.8%, and BEML, whose shares declined 10.61% on Tuesday.
The stock is trading in a W pattern on a weekly chart and forming a base near its previous resistance zone, which is a bullish sign. An early sign of upmove is visible on the relative strength chart in comparison to Nifty50 and good support of short-term EMAs 10 and 20 is seen on every decline.
The texture suggests a strong possibility of a fresh uptrend rally from the current levels. For the positional traders now, 2390 is a crucial support zone, if it holds that level then it could rally till 2550 or 50-day SMA. Further upside may also continue which could lift the stock till 2610.