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HDFC Bank has traded way below all key moving averages (20, 50, 100 and 200 EMA - exponential moving averages) due to single-day big fall, while the stock is 77 rupees away from the low of October 2023 (Rs 1,460).
India’s largest private lender is going through a consolidation phase following the HDFC merger, which has prompted investors with a short-term outlook to consider alternatives, says Nath
National Fertilizers is currently trading above all crucial moving averages, indicating a positive bias. Additionally, momentum indicators suggest a favourable outlook for further upward movement.
Steel Authority of India has seen nice consolidation breakout and formed strong bullish candlestick pattern on the daily timeframe with healthy volumes.
Markets priced in rate cuts by the Fed and other central banks for a large part of 2023, Ashwini Shami of OmniScience Capital says. He expects the cuts in the range of 1.5- 2 percent this year