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Wednesday Market Opening: Force Motors, Railtel Corp, Aditya Birla Money Good Bet Today
Tuesday too continued with the positive stride of the Indian market. It is midweek today and worth seeing which way the market moves
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Tuesday too saw the market in a positive mood with both the BSE and NSE witnessing gains and closing on the green mark. The NSE Nifty was up by 0.028 points and closed at 18,599, while the BSE Sensex was up by 0.0086 points and closed at 62,792.88. The market experts are keeping a close watch as mid week fluctuations are expected today i.e. on Wednesday.
The Big Gainers
Here is a look at the big gainers on Tuesday. These included Vardhman Acrylics, Force Motors, Railtel Corporation of India and Aditya Birla Money.
Vardhman Acrylics jumped by 13.55 per cent and is trading at Rs 56.55. In the last five days, it has gained 13.21 per cent. Force Motors was up by 11.88 per cent and is available at Rs 2,125. In the last one month, it has jumped 59.18 per cent.
Railtel Corporation of India gained 8.64 per cent and is trading at Rs 128.20. In the last five days, it has jumped by 9.29 per cent. Aditya Birla Money jumped 7.53 per cent and is trading at Rs 55.70. The 52 week high of this stock is Rs 68.
Stocks That Are Showing Bullish Signs
According to the momentum indicator MACD, there are some stocks which are showing a bullish trend. These include Indian Railway Finance Corp, Bharat Electronics, Ambuja Cements, and NHPC.
Indian Railway Finance Corp has gained 1.73 per cent and is available at Rs 32.35, while Bharat Electronics is up by 2.03 per cent and is trading at Rs 118.
Ambuja Cements is trading at Rs 458.40 following a jump of 4.41 per cent. NHPC gained 1.14 per cent and is trading at Rs 44.40.
Shrikant Chouhan, Head of Equity Research (retail), Kotak Securities
On Tuesday, the benchmark indices continued their range-bound movement, Nifty closed up at 18599 points while Sensex closed at 62792 points. Among sectors, the auto and realty indices rose over 1 per cent each, while the IT index declined over 1.7 per cent. Technically, the market made a bullish recovery from the lowest point of the day. Furthermore, the market is continuing to hold higher bottom formations. Now 18520/62550 will be the trend decider level for the traders. As long as the index is trading above the same, the uptrend formation is likely to continue. Above that the market can go up to 18630-18670/62900-63100. On the other hand, the uptrend below 18520/62550 will weaken and the market may test 18450-18400/62350- 62150 levels again. The strategy should be to buy if Nifty crosses the 18670 level and keep a stop loss at 18580 levels, on the other hand, it is advised to sell if it breaks the 18520 level and the stop loss will be 18600. For Nifty Bank, above 44300, it may slowly move towards 44500/44600 levels. Below 44000 levels, it may slide further towards 43700 levels. The Nifty IT index broke the 29000 level, which is negative for it and it could fall further towards the 28300 or 28000 level. NIFTY RESIS -18670 SUPP - 18580.
(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)