Bulls’ strong party continues in the market. A new record high was seen in the market on 23 September. Even today the market is feeling high on high. Nifty closed above 17,800 for the first time yesterday. At the same time, BSE Sensex closed near 60,000 with a gain of more than 950 points. In yesterday’s trade, both Sensex-Nifty had seen an increase of around 1.6. Good global cues and strong buying across sectors boosted the market sentiment.
In this boom of the market, good participation of small and medium stocks is being seen along with giants. Nifty Midcap closed with a gain of 1.5 per cent and Smallcap 100 index by 0.78 per cent in yesterday’s trade.
Beverage company United Spirits was the focus of yesterday’s business. In intraday, this stock went up to a record high of Rs 843.50. At the end of trading, it closed at 829.15 with a gain of 7.19 percent. Similarly, there was a strong rally in Bajaj Finserv yesterday. In yesterday’s trade, this stock crossed the level of Rs 18,000 and went to a new high of Rs 18,750 in intraday.
At the end of trading, the stock closed at 8,503.85 with a gain of 5.05 per cent. Similarly, the IT services company Mphasis also saw a great growth yesterday. The stock went up to a record high of Rs 3,394 in intraday yesterday and closed at Rs 3,338.60 with a gain of 2.69 per cent at the end of trading.
Let us now know what should be our investment strategy on these stocks. Shrikant Chauhan of Kotak Securities is with us to share this
This stock has seen a strong rally after the break out of the range. A fresh all-time high of Rs 843.50 was set on 23 September. The stock has lost over 23 per cent so far this month. The 800 level will be very important for the traders who follow the trend. Know above this, but this stock can go to the level of 880-925. On the other hand, if this stock slips below Rs 800, then correction of up to Rs 750-710 can be seen in it.
Technically, there are signs of learning more in this stock as well. The Rs 18,000 and Rs 17,700 levels will be important support zones for positional traders. As long as the stock is above these levels, there is a possibility of knowing it towards Rs 19,000-19,650. But if it slips below Rs 17,700, then there may be weakness in it.
There is a positive pattern in this stock also. The level of Rs 3,180 will act as a trend decider for this stock in the next few trading sessions. If this stock stays above this level, then we can see a level of Rs 3,500 in it. Then further we see a level of Rs 3,750 in it also possible. On the other hand, if this stock slips below Rs 3,180, then we can see further correction in this in the short term.
Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.