On the basis of strong buying in all sectors, in the trading of October 4, the market closed with a gain of about 1 percent yesterday, recovering from the fall of four days. In yesterday’s trade, Nifty closed near 17,700 with a gain of 159 points. At the same time, the Sensex was seen returning around 59,300 with a gain of more than 500 points. Last week, both these indices had seen a fall of about 2 per cent.
In yesterday’s trade, there was a strong participation of small-medium stocks in the bulls party. Nifty Mid and Smallcap indices gained 1.6 per cent yesterday.
Astral’s stock was in the headlines in yesterday’s trading. The stock closed at 2,354 with a gain of 7.01 per cent yesterday. Similarly Divis Laboratories was also in news yesterday. The stock closed at Rs 5,220.70 with a gain of 8.04 per cent yesterday. Both these stocks were among the top 5 gainers in the F&O segment yesterday. Similarly, yesterday VST Tillers Tractors also set an all-time high of 3,258.75 in intraday yesterday. However, it eased from this level and closed at Rs 2,960.60.
Let’s know from Vikas Jain of Reliance Securities, what should be the investment strategy in these stocks now
The stock has been seen in a narrow range since its inclusion in the derivatives list in July 2021. In Monday’s trading, the stock has been seen exiting the one-quarter consolidation with good price and volume momentum. It has set a new 52 week high. Now its short term average located at Rs 2,125 will act as support. Would be advised to stay in this stock. There is a possibility of a level of Rs 2,530 soon.
This stock has been among the top performers in the pharma sector. It has been trading above all its averages for the last 18 months. On the back of good news, this stock has seen a bounce back to its 100-day average. It is likely to continue to accelerate going forward. If there is a fall around Rs 4,780-4,850, there will be a good opportunity to buy in this stock. Those who have this share should stay in it for a target of Rs 5,800.
VST Tillers TractorsAfter a strong rise in this stock, pressure was seen building on the upper level on Monday. The Relative Strength Index (RSI) has come close to 82. At present, the risk reward long is not seen in favor. This stock would suggest profit taking at current levels.
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