Samvat 2078 has started on a good note. In the Muhurta trading of November 4, the benchmark index managed to close with a gain of 0.5 per cent. In the 1-hour trading session of November 4, mid and smallcap stocks also saw a good rally. In Muhurta trading, all the sectors except metal saw a rise.
On November 4, Sensex closed above 60,000 with a gain of about 300 points. At the same time, Nifty closed above 17,900 with a gain of 88 points. Small-medium stocks also had a good run. On November 4, Nifty Midcap closed with a gain of 0.79 per cent and Smallcap by 1.3 per cent.
In Muhurta trading, there was strong action in Larsen & Toubro, Barbeque Nation Hospitality and eClerx Services. Larsen & Toubro made a new high of Rs 1,920.85 before closing at 1,908.95 level. Barbeque Nation Hospitality also made a new high of Rs 1,670 and closed at 1624.15 with a gain of 5.7 per cent at the end of trading. Similarly, eClerx Services closed at 2,383.70 with a gain of 1.75 per cent.
These stocks were also in the headlines in the trading session a day before Muhurta trading. However, on this day, the Sensex had lost 0.4 percent and the Nifty 0.3 percent. L&T was the biggest gainer on this day and saw a rally of 4.1 per cent. Similarly, Barbeque Nation gained 10.6 per cent and eClerx Services saw a rise of 9.1 per cent.
Let us now know what is the advice of Shrikant Chauhan of Kotak Securities on these stocks.
Larsen & Toubro
The level of Rs 1,840 -1,820 in this stock is very important for the trend following traders. If this stock stays above this level, then we can see a rally up to Rs 1,950-2,025.
Barbeque Nation HospitalityThe stock is trading above its 20 and 10-day SMA which is a positive sign. Till the time the stock does not slip below Rs 1,400, it will remain bullish and further it may see the level of Rs 1,650-1,775. In any fall, buy it around Rs 1,550 -1,450. For this, put a stop loss below Rs 1,400.
eClerx ServicesAfter the rise so far, the direction of this stock is not clear now. Now waiting for any breakout coming either way. The Rs 2,450 level will be an important break out level for the bulls, which will be closely watched by the market. If the stock closes above this level, then the level of Rs 2,550-2,700 can also be seen in it. On the other hand, if it slips below Rs 2,225, then it can see a level of up to Rs 2,100-2,025.
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