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The momentum indicator signalled bearish crossovers — a sign of bearish undertone — on these counters, hinting at possible downsides in the days ahead. Some of the stocks have fallen up to 18 per cent in Tuesday's trade so far.
Read more about Sameet Chavan of Angel Broking expects Nifty to hit 15,600 soon on Business Standard. On the flipside, 15,300 - 15,150 - 15,000 are to be considered as immediate supports.
Nifty Outlook The market continues with its recent trend where the opening on Monday happens either with an upside or a downside gap. For the second straight week, the market started on a pleasant note, owing to some recovery in the global markets. On the same day, Nifty managed to move beyond 14,900 first and the following day, the sturdy wall of 15,000 was thrashed convincingly. Everything looked hunky-dory but all of a sudden the global markets again became nervous and due to this, we witnessed a decent correction, with Nifty sneaking below the psychosocially important level. But the mark...
NEW DELHI: India’s own ‘meme’ stock, ITC, has climbed in six of last eight sessions, making traders wonder whether the scrip will finally come out of its painful range after exhibiting extreme rangebound movements for a long time now. Rangebound trading on the cigarette maker has made it a popular theme for ‘meme’ lovers across social media platforms. On Monday, the stock rose 0.09 per cent to close at Rs 212.55 in the back of Friday’s 4.45 per cent gain. Technical charts suggest the stock may soon come out of range and test the Rs 250 level. Aditya Agarwala, Senior Technical Ana...
ACC and a host of midcap and smallcap stocks are looking strong on momentum the oscillator MACD or moving average convergence divergence charts. The momentum indicator has signalled bullish crossovers — a sign of bullish undertone — on 38 counters, hinting at possible upsides in the days ahead. Some of the stocks have already climbed up to 13 per cent in Tuesday’s trade so far. The list included Oberoi Realty, which climbed 2.4 per cent in Tuesday's trade to Rs 545. IFB Industries (up 5 per cent), AU SFB (up 3.7 per cent), Jubilant FoodWorks (up 3 per cent), Dilip Buildcon (up 2.5 per ...