Sensex-Nifty managed to close with gains of more than 1 per cent on Tuesday due to smart recovery from lower levels. The market was supported by good global cues in yesterday’s trade. The market rally was driven by buying in heavy weights like Bank, Auto, IT, Metal and Reliance. BSE Sensex closed at 57,989 with a gain of 697 points or 1.22 per cent. At the same time, Nifty closed at the level of 17,315.50 with a gain of 198 points or 1.16 percent. This was the highest level since February 16 of this year. Nifty has formed a Bullish candle yesterday on the Daily chart. However, the broader market failed to pick up momentum in yesterday’s trade. Nifty Mid and Smallcap had gained only 0.28 per cent.
Jindal Drilling, Mahindra Holidays, KSB Pumps and Rain Industries were in the headlines in yesterday’s trade. Rain Industries yesterday closed at the level of 194.35 with a gain of 5.8. At the same time, an upper circuit of 10 percent was seen at the level of Rs 264.70 in Jindal Drilling. Whereas Mahindra Holiday closed at Rs 233.25 with a gain of about 10 per cent. At the same time, KSB Pumps closed at 1,238 with a gain of 6.3 per cent.
Let us now see what is the opinion of Mazhar Mohammad of Chartviewindia.in on these stocks.
Jindal Drilling: There are still signs of bullishness in Jindal Drilling. If this stock stays above Rs 240, then we can see the level of Rs 300 in it. On the other hand, if it slips below Rs 240, then it can go towards Rs 217, and fall will be a good opportunity for fresh buying. For the time being, the advice is that those who have this stock can stay in it with a stop loss of Rs 240.
Rain Industries:There are signs of bullishness in this stock as well. If Rain Industries manages to stay above Rs 181 then a level of Rs 240 is also possible. However, pressure can be seen around 217 –220. Now any fall in this counter will be a good opportunity to buy new in it. For this, keep a stop-loss below Rs.180.
Mahindra Holidays:If this stock remains above Rs 213, then it may see an interim top of Rs 267 in November 2021 again. If there is a fall around Rs 220 -215, there will be a good opportunity to buy new in this stock. For this, place a stop loss at Rs 212.
Hot Stocks: Strong signals persist in the market, today’s short term picks, which can make strong earnings in 2-3 weeks
KSB Pumps:Now wait for a fall to buy fresh in this stock. Keep a stop loss of Rs 1,170 for this buy. Further, the first target of Rs 1,311 can be seen in this stock. After that it has the potential to touch the life time high of Rs 1,411 again.
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