After two consecutive days, there was consolidation in the market and yesterday’s market closed with a slight decline amid mixed global cues. Although the Nifty managed to stay at the crucial level of 18000 and closed at 18,044 with a slight fall of 24 points, while the BSE Sensex closed above 60,400 with a fall of nearly 100 points.
In yesterday’s trade, there was more rally in the small-medium stocks than the giants. The Nifty Midcap index closed with a gain of 1.16 per cent. On the other hand, the smallcap index closed with a gain of 0.5 percent.
Indiabulls Housing Finance was the focus of business yesterday. It was the fourth biggest gainer in the F&O segment and closed at 243.65 with a gain of 4.5 per cent. Similarly, Texmo Pipes & Products was locked at an upper circuit of 10 per cent after a long consolidation. At the same time, there was strong action in Shoppers Stop and it closed at the level of 395.40 with a gain of 10.25 percent. In intraday, it had also set a 52 week high of Rs 409.
Hot Stocks: Market will remain volatile, today’s short term picks can make double digit earnings in 2-3 weeks
Let’s know what is the opinion of Mazhar Mohammad of chartviewindia.in on these stocks now
Shoppers StopThis stock has given many breakout signals. Its current breakout comes after 10 days of consolidation, as long as the stock remains above Rs 358, it is in a positive trend. In such a situation, any fall in this stock would be advisable to buy. A level of Rs 460 can be seen in this stock. However, short term traders should book profits around Rs 420 in this.
Texmo Pipes and ProductsThe stock is witnessing consolidation in the range of Rs 58-44 for the last 20 weeks. However, the heavy volumes of the last few trading sessions are indicating that if it gets a closing above Rs 58, then it can go further up and touch the level of Rs 65. Those who have this share should stay in it and if there is a fall around Rs 54, make a new buy by making a stoploss below Rs 52.
Indiabulls Housing FinanceIn this stock also, those who have this share are advised to stay with stoploss below Rs 230. Levels up to Rs 257 are possible in this stock. Buy new only when it is found in a fall around Rs 235.
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