Podcast | In stock of the day: Marico buys for short-term profits between buyers


Rupak De

Nifty started higher and remained in full session on 14 November. At the higher end, the index detected a rebound of about 38.2% of the drop in the previous drop from all times, which was 11.760 to the last 10.004.

In addition, the 200-EMA in the daily framework acted as an active resistance to the rising Nifty. Today, banking and financial stocks remain green. On the other hand, IT and pharmaceuticals were withdrawn.

India VIX remained silent for a day.

At the front, the 11,000 CE ended with the most open interest, followed by 10,800, while 10,000 PE and 10,200 PE closed the session with the most open interest.

Over the past few days, Nifty could not go above 10,700, where at the bottom there were 10,400 support. Continuing, the trend can stay on the side as Nifty remains in the range of 10,400 and 10,700.

A decisive step above 10,700 can trigger a rally against 10,830, while at a lower breakdown below 10,400, it can cause weaknesses in the market.

Here are the best ideas for trading in shares that can give good returns in the near future:

Hexaware Technologies: Purchase | CMP: Rs 318.15 | Goal: Rs 363 | Stop losing Rs 303 | Return 14%

After sharp correction, inventory is consolidated, which means that the stock is the basis for the next sharp movement. On the other hand, the tip of the tweezers is visible at Rs 308 on a weekly stock chart that suggests a rally until a recent bottom stays intact.

In addition, a daily divergence on the RSI daily day (14) indicates that the momentum will probably become positive in the near future.

Traders can accumulate a stock in the range of 315-325 pounds for the target Rs 363 with a stopped loss of less than 303 Rs.

United Spirits: Purchase | CMP: Rs 647.95 | Target Rs 700 | Stop loss: Rs 619 | Return 8%

On a weekly chart, the stock dropped to the channel, indicating that stocks may move in the short term to the north. In addition, the stock exceeded its recent consolidation pattern on a daily chart that shows an increasing optimism.

Monthly RSI (14) entered the crossing after a long time. All these layouts point to price rises in the coming days.

Traders can accumulate stocks ranging from € 645-655 to € 700, with a loss rate of less than Rs 619.

Marico: Purchase | CMP: Rs. 347.80 | Goal: Rs 379 | Stop loss: Rs 329 | Yield 9%

The stock after a few days of consolidation gave the highest conclusion. On the graphics card, the stock price moved over its previous point of movement to a lesser extent.

On a weekly chart, the situation increased as it found support around the lower belt of the rising channel. In addition, the weekly RSI (14) is cross-crossed and rising.

The author is a technical analyst for research at Bonanza Portfolio Ltd

Disclaimer of liability: Views and investment advice expressed by investment experts at moneycontrol.com are their own rather than the site or its management. Moneycontrol.com advises users to check with certified professionals before making investment decisions.


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