The new trading week opened on a positive note on Tuesday and the bourses gained good. The NSE Nifty was up by 95 points and closed at 19,889. 70 and the BSE Sensex was up by 204.
16 points and closed at 66,174. 20. As the markets open on Wednesday for the midweek trading, experts opine that Nifty does look bullish and the winds are positive too.
Bullish Signs In These Stocks As per the momentum indicator MACD, there are some stocks which are showing bullish signs for the market today. These include Punjab National Bank, IDFC First Bank, Steel Authority of India and Manappuram Finance. Punjab National Bank is trading at Rs 78.
55 following a jump of 3. 42 per cent. IDFC First Bank gained 1.
36 per cent and is trading at Rs 85. 45. Steel Authority of India has gained 2.
02 per cent and is available at Rs 91, and Manappuram Finance is up by 2. 19 per cent and is trading at Rs 151. 40.
Top Gainers Of Last Trading Session Here are some of the top gainers during Tuesday’s trading session that saw good gains in the market. These included Adani Energy Solutions, Orissa Minerals Development Company, Adani Enterprises and Spencer’s Retail. Adani Energy Solutions saw a gain of 20 per cent and is trading at Rs 874.
90. In the last five days, it has gained 18. 25 per cent.
Orissa Minerals Development Company was up by 11. 39 per cent and is available at Rs 7,697. In the last one month, it has gained 17.
17 per cent. Adani Enterprises gained 9. 19 per cent, trading at Rs 2,430.
In the last five days, it has gained 11. 06 per cent. Spencer’s Retail jumped 7.
18 per cent and is trading at Rs 79. 10. The 52-week high for this one is Rs 79.
80. Gold And Silver Prices For The Day 22k gold is priced at Rs 57,350 per 10 grams 24k gold is priced at Rs 62,560 per 10 grams Silver is priced at Rs 78,500 per kilogram. Stock Expert Speaks Prashanth Tapse, Senior VP (Research), Mehta Equities Today’s GIFT Nifty outlook is bullish as investors anticipate the Federal Reserve’s completion of interest rate hikes to curb inflation, supporting Nifty bulls.
The convincing 4. 25 per cent November rally boosts confidence in the benchmark reaching a year-end record high. Optimism is driven by Wall Street’s rise on dovish Federal Reserve remarks, positive FIIs and DIIs activity, and stable WTI Oil prices at USD 76.
5 a barrel. Key events include the October US PCE report, November F&O contract expiration, and exit poll predictions for five states on 30 November. Technically, Nifty is likely to find support at 19823, with resistance at its all-time high of 20,223.
Options data suggests a trading range of 19300-20100, with the 20100 mark as a crucial resistance zone. The recommended Nifty trade is to Buy at CMP with a Stop at 19421, Targets at 19829/19889, and aggressive targets at 20000. For Bank Nifty (43881), the advice is to Buy at CMP, Stop at 42671, Targets at 44000/44500, and aggressive targets at 45100-45500.
The top stock to buy is NTPC at CMP 257, with a Stop at 249, Targets at 261/266, and aggressive targets at 277 (Intermonth Strategy). The chart of the day is bullish on MAZFGAON DOCK, ADANI POWER, INDIGO, MUTHOOTH FINANCE, TATA CONSUMER, and TITAN, particularly on intraday weakness with an inter-week perspective. (All views expressed by experts are personal.
Investments are subject to market risks and this article suggests you to invest wisely).
From: businessworld
URL: https://www.businessworld.in/article/Wednesday-Market-Opening-Adani-Stocks-On-A-Bullish-Ride-Spencers-PNB-SAIL-Get-Stronger-/29-11-2023-500398