skip to Main Content
[font_awesome icon="phone"] 1-800-987-654[font_awesome icon="envelope"] admin@totalwptheme.com[font_awesome icon="user"][wp_login_url text="User Login" logout_text="Logout"]

Sensex Finishes 446 Points Higher, Nifty Recovers 17,800 As Market Expands Gains To Day 2

Market Watch: Brijesh Bhatia, Senior Research Analyst, Equitymaster

Asian paintings

It has been on a roll since its breakthrough to levels of Rs 2,500 to 2,600, it has risen to around Rs 3,500. During the last expiration week of September, we saw some profit taking or a downturn. Long positions unwinding, but again the start of October was very favorable. Technically looking at the chart it traded at the breakout retest level of around Rs 3180 and the 50 day average has been placed and if you look at it since the 2020 rally this stock has not broken. the average of 50 days. So every time it retests or exceeds the 50-day average by a few percent, the stock resumes its upward trajectory. So Rs 3,150-3,130 until it’s not broken it can hit the all-time high of around Rs 3,500 levels and we could see somewhere around Rs 3,700 – Rs 3,800 levels as well on this subject.

PFC

From late September to early October, energy stocks were one of the best performing sectors and we have seen frequent sector additions since the August rally and now it’s time for electricity. Other energy stocks like Tata power and others have gained momentum. From June to September, the BSE Power Index also formed a huge bottom formation – a rounded bottom formation and now it is bursting.

The PFC also experienced a break from previous highs that had been consolidating for quite a long time. We also saw a bullish head and shoulder breakout. These levels were retested at around Rs 139 last week and are now gaining on strong bullish momentum. So with Tata Power gaining strong momentum on the rise, – if you look at momentum with Tata Power and PFC they usually go hand in hand, although the time cycle may differ here, but wait. -you to PFC moving like that of Tata Power, so probably Rs 160- Rs 165 can also be seen on PFC.

Amara Raja batteries

The auto industry hasn’t done anything, and even the auxiliaries haven’t done anything for quite a long time and Amara Raja Batteries is down about 30-35% from the highs of 2021. The huge background formation is down. has been produced since June. A huge build-up has occurred in the range of around Rs 750 down from the higher levels. Even Maruti last week saw a huge boost, Tata Motors saw a huge boost so accessories could follow.

For the next six to 12 months as well, this battery stock forms a huge background formation and we could revisit the four-digit level to around Rs 700 levels.


Source link

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top