The stock is on the verge of witnessing a triple bottom breakout on the daily chart. It has also managed to give a close above its 200 period EMA. The stock has also witnessed a bullish crossover on the daily MACD indicator.
Buy/Sell
Range
Target
Stop Loss
Buy(cash)
314-316
334
303.5
NSE Code
Market Cap(Rs in Cr)
52-week High /low
200 M.A
YESBANK
72157
382/218
314
ARTI INDUSTRIES - BUY
Stock
ARTI INDUSTRIES
Recommendation
The stock is in a higher top higher bottom chart structure. It has formed a bullish candlestick pattern on the weekly chart and has managed to breakout from its sideways consolidation. The price uptick has been backed by a smart surge in volumes.
Buy/Sell
Range
Target
Stop Loss
Buy(cash)
943-948
992
913
NSE Code
Market Cap(Rs in Cr)
52-week High /low
200 M.A
AARTIIND
7801
1024/672
857
DR REDDY - BUY
Stock
DR REDDY
Recommendation
The stock has given a given a breakout from a descending trend line on the weekly chart and has also shown good strength on the daily MACD Histogram. The trend and strength analysis indicates that the current momentum is likely to continue further.
Buy/Sell
Range
Target
Stop Loss
Buy(cash)
2364-2372
2485
2292
NSE Code
Market Cap(Rs in Cr)
52-week High /low
200 M.A
DRREDDY
39348
3203/1901
2759
VEDANTA - BUY
Stock
VEDANTA
Recommendation
The stock has managed to give a breakout from its sideways consolidation on the daily chart backed by a surge in volumes. The stock has formed a bullish hammer formation on the weekly chart.
Buy/Sell
Range
Target
Stop Loss
Buy (cash)
296-298
313
286.8
NSE Code
Market Cap(Rs in Cr)
52-week High /low
200 M.A
VEDL
110772
346/205
279
POWER GRID - BUY
Stock
POWER GRID
Recommendation
The stock is in lower top lower bottom chart structure. It has shown weakness on weekly MACD Histogram. Derivative data is suggesting fresh short positions which are indicated by surge in open interest and decline in price.
Quick take on the IPO of Vishwas Agri Seeds
Vishwas Agri Seeds IPO, a fixed price issue of ₹ 25.80 crores, comprises entirely of 30 lakh fresh shares. Vishwas Agri Seeds IPO commenced subscription on March 21, 2024, and concludes today, March 26, 2024. Allotment for the Vishwas Agri Seeds IPO is expected to be finalized on Wednesday, March 27, 2024. Subsequently, it will list on NSE SME with a tentative listing date set for Monday, April 1, 2024.
Nifty started the day on a positive note and rallied higher towards 22200 mark. However, the index was unable to surpass that level and it consolidated within a range with a positive bias to end above 22100 with gains of over half a percent.