Monday At Market: Stocks Flaunt Bullish Momentum: Vodafone Idea, Indian Railway Finance Corp, Tata Steel Lead The Charge

Last trading week witnessed a bullish spree as NSE Nifty closed at 20,267. 90, gaining 134. 75 points, and BSE Sensex climbed 492.

75 points, closing at 67,481. 19. Global cues signal a positive trend for the upcoming week.

Bullish Momentum In These Stocks As per the momentum indicator MACD, there are some stocks which are showing bullish signs for the market today. These include Vodafone Idea, Indian Railway Finance Corp, Tata Steel and Steel Authority of India. Vodafone Idea is trading at Rs 13.

25 following a jump of 1. 53 per cent. Indian Railway Finance Corp gained 0.

94 per cent this week, trading at Rs 75. 35. Tata Steel has gained 1.

64 per cent and is available at Rs 130, and Steel Authority of India is up by 0. 81 per cent and is trading at Rs 93. 05.

Top Gainers Of The Week That Closed On A High Note Here are some of the top gainers during Friday’s trading session that closed the week on a happy note. These included Shalimar Paints, Cantabil Retail India, Finolex Cables and Birla Corporation. Shalimar Paints saw a gain of 19.

22 per cent and is trading at Rs 201. In the last five days, it has gained 17. 34 per cent.

Cantabil Retail India was up by 12. 65 per cent and is available at Rs 225. 70.

In the last one month it has jumped by 8. 25 per cent. Finolex Cables gained 6.

78 per cent, trading at Rs 1,031. 90. In the last five days, it has gained 12.

18 per cent. Birla Corporation jumped 6. 04 per cent and is trading at Rs 1,435.

35. This is the 52-week high for this one. Gold And Silver Prices For The Day 22k gold is priced at Rs 58,450 per 10 grams 24k gold is priced at Rs 63,760 per 10 grams Silver is priced at Rs 80,500 per kilogram.

Market Experts’ Insights – Prashanth Tapse, Senior VP (Research), Mehta Equities Chair Powell may have dampened expectations for rate cuts, but this Monday morning sees Gift Nifty jumping anyway. Investors globally eagerly await December for the famed Santa Claus Rally, and this morning, the Christmas Cake is baked for solid gains. Key catalysts include a resurgent optimism from FIIs, with Rs.

10,593 crores bought in the past week, a 15. 1 per cent YoY rise in GST collections, and BJP’s state election results adding fuel to bullish sentiments. Bulls are thrilled with considerable drops in US inflation, a 5.

2 per cent Q3 US GDP surpassing the 4. 9 per cent estimate, and optimism that the Federal Reserve may cut borrowing costs in Q1 2024. With positive global cues, the Dow gained 2.

42 per cent in the past week, setting the stage for Nifty to start the week with a bullish bang, eyeing inter-month targets at the 21,000 mark. Preferred trades on Nifty and Bank Nifty include buying at CMP with specific targets. Also, the chart of the day is bullish on BEL, MANAPPURAM FINANCE, PI INDUSTRIES, TATA CONSUMER, NTPC, and TITAN on any intraday weakness with an inter-week perspective.

The top stock to buy now is PI INDUSTRIES at CMP 3,817, with a stop at 3,655, targets at 3,907/4,050, and aggressive targets at 4,500, driven by a Momentum Play strategy. – Arvinder Singh Nanda, Senior Vice President, of Master Capital Services The NSE Nifty 50 index was up 2. 39 per cent to close the week at 20267.

90 and the S&P BSE Sensex was up 2. 29 per cent and settled the week at 67481. 19.

India’s Nifty 50 hit a fresh record high on Friday, Nifty gained 130 points to create a fresh all-time high at 20291. 55; as faster-than-expected economic growth in the September quarter added to optimism over the global interest rate outlook. As long as the index holds 20,000 (psychological mark-19,800 low of the week), marching towards 20,500 looks likely in the coming days despite intermittent consolidation.

With the hurdles placed at 20350-20400, where 20000 will act as an immediate support. The Bank Nifty continued its higher highs and higher lows formation for five days in a row. The index rebounded after a day of small profit-taking and climbed 332 points to 44,814 on Friday with above-average volumes, forming a bullish candlestick pattern with a minor upper shadow on the daily scale.

On the downside, a substantial support level rests at 44,300, where the immediate hurdle on the upside is positioned at 45,000. (All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely).