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SBI Life Insurance Company ended at new closing high and formed strong bullish candlestick pattern with healthy volumes on the daily timeframe, after a decisive breakout of horizontal resistance trendline.
Basis the Chart formations & relative strength modelling, Sudeep Shah expects Oil & Gas, Auto, PSU Bank, Pharma, IT & Defence space to continue outperforming the broader indices in the coming few weeks.
Ashwini Shami sees economic activities around Ayodhya catalyzing strong growth for the UP economy, which has already seen a growth of nearly 20 percent last year, significantly higher than the national GDP growth.
One can add longs in HDFC Bank in the zone of Rs 1,400-1,425 for upside target of Rs 1,500 and stop-loss would be placed near Rs 1,368 on daily close basis.
LGT Wealth could expect to see a change in policy stance and cuts in H2 CY 2024 by both US FED and India RBI, says Rajesh Cheruvu.