On October 25, Nifty managed to save the level of 18000. However, it had come down from this level in the intraday yesterday. At the end of trading yesterday, the stock had managed to close with a slight gain for the first time in the last 5 days. But there was a huge decline in the broader market yesterday. Nifty Midcap closed down 1.7 per cent and Smallcap by 2.34 per cent yesterday.
In yesterday’s trade, the BSE Sensex closed at 60,950 with a gain of 145 points. At the same time, Nifty closed at 18,100 with a gain of 10.50 points. In yesterday’s trade, the Nifty had seen a recovery of more than 150 points from the bottom. The market was supported by banking and financial stocks. At the same time, there was a decline in FMCG, IT and auto.
ICICI Bank was in focus in yesterday’s business. Yesterday it was the biggest gainer in Nifty and F&O segment. The stock went up to a record high of Rs 867 in intraday before closing at the level of 841.70 with a gain of 10.85 per cent. The stock had benefited from strong September quarter results.
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Similarly, multiplex chain PVR was the second biggest gainer in F&O. After setting a new 52-week high of Rs 1,768.05 in yesterday’s trade, it closed at the level of 1,727.40 with a gain of 6.14 per cent at the end of trading.
KEC International also saw strong buying in yesterday’s business. Yesterday, it had set a high of Rs 541.70 in intraday and finally closed at 526.35 with a gain of 7.03 per cent.
Let us now know what is the opinion of Vikas Jain of Reliance Securities on these stocks
PVR
Vikas Jain says that now if this stock is found around Rs 1,595-1630 in a fall, then there will be a good opportunity to buy in it. Those who have this share, stay in it.
ICICI Bank
In this stock also Vikas Jain advises to stay for the target of Rs 900. A breakout above Rs 740 may take the stock further higher.
KEC International
This stock has been a consistent performer of the Capital Goods segment. A new high has also been set in this current moment. But now the RSI is around 79. Its risk-reward ratio is no longer looking good after the recent sharp gains. Therefore, in this stock now around Rs 550, it will be advisable to take profit in the next few days.
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