Breaking News: Nifty Keeps Rising, Smallcap Index Hits Record High
Nifty experiences its ninth consecutive rise with minor gains. The Nifty Smallcap index hit a fresh all-time high and closed on a strong note. The trend shows bullish tendencies, and long positions should be maintained with a stop-loss at 24,875 based on the closing prices. Looking ahead, resistance can be expected at 25,078, 25,300, and 25,500 levels.
Stock Market
Ceat Ltd Shows Promise
Buy Ceat Ltd (Rs 2,875) | Target: Rs 3,193 | Stop-loss: Rs 2,575
Ceat Ltd is on the brink of a breakout from an inverted head and shoulder pattern on its daily chart. The rise in price is supported by healthy trading volumes, and the stock currently trades above all important moving averages. This points to a bullish trend across all time frames. Additionally, various indicators and oscillators have turned bullish on both daily and weekly charts. The stock price has started forming higher tops and higher bottoms on the daily charts, indicating a strong upward momentum.
Radico Khaitan’s Bullish Breakout
Buy Radico Khaitan (Rs 1,817) | Target: Rs 1,990, 2,090 | Stop-loss: Rs 1,650
Radico Khaitan has recently broken out from a multi-week consolidation pattern on the weekly charts. This price increase is also supported by healthy trading volumes. Similar to Ceat Ltd, Radico Khaitan is trading above all important moving averages, signifying a bullish trend across all time frames. The indicators and oscillators have turned bullish on both daily and weekly charts. The stock price has started forming higher tops and higher bottoms on the daily charts, suggesting a positive outlook for the future.
Investment Insights
Vinay Rajani, a senior technical and derivative analyst at HDFC Securities, has shared these insights. According to him, both Ceat Ltd and Radico Khaitan are showing strong technical signs that point toward further gains. With both stocks trading above their moving averages and indicators turning bullish, these investments seem poised for continued success.
However, investors should always exercise caution and use the recommended stop-loss points to manage risk effectively. As market conditions can change rapidly, maintaining close attention to market movements is key.
Stay tuned to India Press Live for more updates and expert analysis on market trends and investment opportunities.
Nifty rose for the ninth consecutive session with minor gains. Nifty smallcap index hit fresh all-time high and closed with a strong wicket. The trend of the Nifty is bullish, and long positions should be held with a 24,875 stop-loss on a closing basis. On the higher side, 25,078, 25,300, and 25,500 are the next resistances.
Buy Ceat Ltd (Rs 2,875): | Target: Rs 3,193 | Stop-loss: Rs 2,575
Stock is on the verge of breaking out from an inverted head and shoulder pattern on the daily chart. The price rise was accompanied by healthy volumes. The stock is trading above all important moving averages, indicating a bullish trend on all time frames. Indicators and oscillators have turned bullish on daily and weekly charts. The stock price has started forming higher tops and higher bottoms on the daily charts
Buy Radico Khaitan (Rs 1,817): | Target: Rs 1,990, 2,090 | Stop-loss: Rs 1650
Stock has broken out from a multi-week consolidation pattern on the weekly charts. The price rise was accompanied by healthy volumes. The stock is trading above all important moving averages, indicating a bullish trend on all time frames. Indicators and oscillators have turned bullish on daily and weekly charts. The stock price has started forming higher tops and higher bottoms on the daily charts.
Remember, informed investing is the cornerstone of successful trading. Always keep up with the latest market insights and trends to make well-balanced investment decisions.
