February 28 i.e. the last trading day saw a profit-like situation at the beginning of the market, but as the trading day progressed, there was a strong recovery in the market and at the end of the business, the market managed to close with a gain for the second consecutive day. On February 28, the last trading day, Nifty closed at 16,794 with a recovery of over 400 points from the day’s lows on the back of buying in metal, tech, oil and gas stocks. At the same time, the BSE Sensex closed at the level of 56,247 with a gain of about 400 points. On the last trading day, the market got support from RIL, FMCG, Metal and IT stocks.
On the last trading day i.e. February 28, along with the big stocks, there was buying in small-medium stocks as well. Nifty midcap closed with a gain of 1 per cent. At the same time, the small cap closed with a gain of 0.6 percent. There was strong buying in metal stocks on the previous trading day. Nifty Metal was the biggest gainer with a rally of 5 per cent. Hindalco Industries was the biggest contributor in this segment. Hindalco closed at 574 level with a gain of 7.5 per cent on the previous trading day. This stock was also the biggest gainer in the futures and options segment.
Similarly, GAIL and Power Grid Corporation were the 2nd and 5th biggest gainers in the futures and options segment on the previous trading day. GAIL closed at 145 with a gain of 7.5 per cent. At the same time, Power Grid closed at Rs 209 with a gain of 6 per cent.
Adani Transmission also saw a boom for the second day in a row. At Rs 2,134 level, an upper circuit of 5 per cent is seen in it. Let’s get to know from Malay Thakkar of GEPL Capital what should be the strategy in these stocks now.
Hindalco Industries: Those who have this stock, stay in it. A target of Rs 615 and then Rs 670 can be seen in this stock. On the downside, this stock is seeing support at Rs 545-55.
GAILShort term bullish momentum is still maintained in this stock. On the downside, support is visible at Rs 125 for this. Stick with the stock with a stop loss of Rs 125 for target of Rs 155 and Rs 170 for second target.
Adani TransmissionThose who have this stock should stay in it. Further, the level of Rs 2280- 2475 can also be seen in this. Put stoploss at Rs.1980.
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Power Grid Corporation of IndiaBullish momentum is still maintained in this stock. Soon the level of Rs 220 can be seen in it. After this, its next target will be Rs 240. Support is visible in the stock at Rs 196-200. Place your stoploss around this.
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