POSITIVE BREAKOUT
Zomato shares face resistance at Rs 280 level, breakout may deliver returns up to 24%
Zomato share price: Zomato shares are showing bullish potential with resistance at Rs 280. If sustained, targets of Rs 320-340 are possible. The stock's inclusion in Sensex boosts investor confidence and liquidity.
F&O Radar: Deploy Bull Call Spread in Divis Lab from potential bullish reversal
Divis Laboratories is nearing a breakout level of Rs 6,145, supported by strong volumes and positive divergence. A bullish trend is indicated, with upside targets of Rs 6,500-6,600.
From breakdown to breakout: Nifty bulls flip the script above 200-DEMA
Nifty staged a strong comeback this week, surging past the 200-day moving average and trapping bearish sellers. The index found support at its 50-week moving average, forming a bullish hammer pattern. While facing resistance at 24,000, positive sentiment prevails with increased FPI long positions and declining open interest. A sustained move above 24,000 could propel Nifty towards 24,500¨C24,700.
Cuts in bearish foreign F&O bets set stage for 4-5% gains
Foreign portfolio investors (FPIs) reduced their net bearish bets in index futures to 1.54 lakh contracts on Friday from 2.01 lakh the previous day. This resulted in foreigners' long-to-short ratio - a measure of the number of their bullish positions versus bearish - in index futures rising from 23% at the start of the month to 31% as of November 22, according Ajit Mishra, senior vice president, Research at Religare Broking.
AIF Tracker: Nearly 30 funds log positive returns in Oct; Vivriti, Northern Arc AMC top charts
Over 26% of Alternative Investment Funds (AIFs) outperformed the Nifty50 in October 2024, with 30 funds delivering positive returns despite the benchmark's 6% decline. Category II funds, particularly those from Vivriti and Northern Arc, led the gains, while Category III funds showcased resilience with Breakout Fund and VQ FasterCAP Fund posting notable returns.
Stock Radar: Long term buy! A breakout above September highs could push PI Industries to Rs 5,000 levels
PI Industries Ltd, after a brief dip, shows signs of recovery, bouncing back from its 100-day moving average. Experts suggest the stock has bottomed out, with potential to reach Rs 5,000 if it closes above its September high. While short-term resistance is expected at Rs 4,800, strong support is anticipated at Rs 4,400.
Stock Radar: SBI bounced back from a triple bottom pattern to a breakout from a 2-month consolidation; time to buy?
State Bank of India's stock price surged after breaking free from a two-month holding pattern. The stock previously reached a high of Rs 912 in June. It found support around Rs 760-780. The stock's recent breakout suggests a potential upward movement towards its June high. Analysts recommend buying the stock with a target of Rs 925 in the coming months.
Stock Radar: Mphasis breaks out from Symmetrical Triangle pattern on daily charts; time to buy the dip?
Mphasis Ltd broke out from a Symmetrical Triangle formation on daily charts, suggesting potential stock price increase to Rs 3,350-3,400 within 1-2 months. The stock exhibited bullish momentum, bouncing back from Rs 2,850 support and reclaiming key moving averages. Analysts advise accumulating between Rs 3,000-3,050.
Stock Radar: 16% rally in a week! Orient Cement stock breaks out from downward sloping trendline on weekly charts
Orient Cement surged over 16% in a week, breaking out from a falling trendline resistance and forming a 'Handle' pattern on the weekly charts. Experts suggest buying on dips for a target of Rs 390, with the stock showing bullish momentum supported by key moving averages and technical indicators.
Big movers on D-Street: What should investors do with RIL, HCL Tech and HDFC Life?
Benchmark BSE Sensex surged nearly 592 points, with Nifty reclaiming the 25,000 level amid a strong global trend. Highlighted stocks include RIL, HCL Tech, and HDFC Life, each showing varied performances and trends. Experts advise cautious trading, focusing on technical indicators and price action before making decisions.
Stock Radar: IPCA Laboratories breaks out after 2-week consolidation to hit fresh highs; time to buy?
Ipca Laboratories Ltd hit a fresh record high in October 2024, breaking a 2-week consolidation. Experts suggest the rally may continue, with short-term traders targeting Rs 1,650-1,680 in 1-2 months. The stock has been on an upward trend, trading above key moving averages. Traders are encouraged to buy, with a stop loss below Rs 1,450.
Stock Radar: Breakout from Ascending Triangle pattern makes Tata Steel an attractive buy; here¡¯s why
Tata Steel Ltd experienced a breakout from an Ascending Triangle formation on the daily charts, suggesting potential for further gains. Traders are advised to buy the stock at current levels or on dips, targeting its previous high of Rs 186, with a stop loss at Rs 150.
Will Vedanta shares ride the metal sector rally after 130% returns in a year? Experts explain
Vedanta shares saw significant gains, rising 130% over the past year, partly due to China's economic measures. The stock recently broke resistance levels and is trading above short-term averages. Experts suggest the stock could rise further, targeting Rs 530-550, with Rs 490 acting as key support. Vedanta closed at Rs 512.55 on Monday.
HDFC Bank shares on verge of breakout. How to trade?
HDFC Bank shares, after hitting an all-time high in July 2023 and then declining post-merger, are now nearing a breakout. The stock has shown strong positive momentum, but traders should watch for potential pullbacks. Experts suggest key support levels and potential targets for strategic trading.
Stock Radar: Escorts Kubota breaks out of a falling trendline; could hit fresh record highs above Rs 4,900
Escorts Kubota Ltd has broken out from a falling trendline resistance on the weekly charts, indicating potential for the stock to reach Rs 4,900 levels in the next 3-4 months. The stock has shown strong momentum and is trading above crucial moving averages, suggesting further upside potential.
Daily Trading Desk: 2 trades for short-term gains; base metal stock for over 4% gain, telecom services major for 7% upmove
Select stocks gain momentum even in volatile markets.
Stock Radar: Kotak Bank breaks out from inverse Head & Shoulder pattern; stock likely to keep hitting fresh highs
Kotak Mahindra Bank Ltd has shown positive momentum after testing its 200-DMA on the daily charts. Experts suggest short to medium-term traders can target Rs 2,200 in the next 1-2 months. The stock recently hit a 52-week high of Rs 1,953 and broke out from an inverse Head & Shoulder pattern.
Daily Trading Desk: 2 trades for short-term gains; hospitality stock for 5% gain, financial services player for 6% upmove
Select stocks gain momentum even in volatile markets.
Stock Radar: 100% in a year! Why Samvardhana Motherson is a ¡®buy on dips¡¯ stock as it nears record highs
Samvardhana Motherson International is nearing a breakout from a 2-month consolidation phase, having surged over 100% in the past year. Experts suggest that a close above Rs 208 could lead the stock to new highs around Rs 225. The stock is trading above key moving averages, indicating strong bullish momentum.
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