F&O Stock Strategy: How to trade Deepak Nitrite, ABB
The level of 22,000 is crucial for Nifty to hold else bearishness may return to the market. Two stocks have formed a good setup for swing trading on the technical charts
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The level of 22,000 is crucial for Nifty to hold else bearishness may return to the market. Two stocks have formed a good setup for swing trading on the technical charts
Positive trading setup was seen in stocks like Power Grid, Deepak Nitrite, Aarti Industries, BHEL, HDFC Bank, Axis Bank, NTPC, DLF, HPCL, Apollo Hospital, Indigo, Pidilite Industries, Grasim, SBI Life, ONGC, Indian Hotels etc. among others.
Nifty retained its winning streak on Tuesday for the sixth session in a row and hit a fresh lifetime high catapulted by index heavyweight HDFC Bank. The 50-stock index finished at 22,196.95, higher by 74.70 points or 0.34%.
A short build-up was seen in 54 stocks including Balrampur Chini Mills, Hero MotoCorp, Coromandel International, Cholamandalam Investment & Finance, and Birlasoft
Motilal Oswal recommended Neutral rating on Deepak Nitrite with a target price of Rs 2185 in its research report dated January 15, 2024.