The market recently touched a seven-month low and recovered over 2% from that level yesterday. After four days of decline, the benchmark index closed one percent higher than the previous close on March 8. The Sensex closed 581 points or 1.1 per cent higher at 53,424, while the Nifty jumped 150 points or 1 per cent to end at 16,013.5. The broader market outperformed the benchmark. The Nifty Midcap 100 and Smallcap 100 indices gained 1.24 per cent and 1.51 per cent each.
Yesterday Indraprastha Gas was the biggest gainer
Indraprastha Gas was included in the stock showing the most action. In this, the futures & options segment was the fastest and it reached 370 with a rise of 10 percent.
PVR was the fourth biggest gainer in the derivatives segment, rising 6.6 per cent to Rs 1,598 levels. Motherson Sumi Systems also closed at Rs 127, down 1.1 per cent from the day’s low.
Buzzing Stocks: Sun Pharma, Bharat Forge, GR Infraprojects and other stocks in headlines today
Chartviewindia.in’s Mazhar Mohammad Advice for trading today on these 3 stocks
If the stock sustains above Rs 342 then it may move towards Rs 400. If there is any downside in this for some time, then it should be considered as a buying opportunity. In this, fresh long positions can be created with a stop loss below Rs 340.
The counter has declined from its June 2021 high of Rs 226. On the downside, there is an important support level at Rs 110. To stop the downside, it needs to stay above Rs 110 with some recovery.
If it fails to sustain above this crucial support level, the stock may fall towards Rs 80. So it is wise to stay away from this counter for some time.
This counter has been trading sideways for quite a long time. It seems to have stabilized above the 200-day moving average for the past few weeks. This is a positive sign.
Know Buy, Sell or Hold with brokerages at NAZARA TECH and INDUSIND BANK
Besides, a strong price appreciation from the 200-day moving average of the previous trading session is giving a trading opportunity. If it sustains above Rs 1,485, then it can go up to Rs 1,712. The stop loss for this trade will be below Rs 1,485.
Disclaimer: Neither the analyst nor any of their clients holds any stake in any of the above shares as on date
(Disclaimer: The views and investment advice given on moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult a certified expert before making any investment decision.)
,