Hot Stocks: Bet on Max Healthcare, Ipca Labs and SAIL for healthy returns in short termMoneycontrol • 17 days ago
The market is expected to be driven by stock-specific actions in the coming days. Short-term traders may focus primarily on large-cap stocks and should avoid small-caps.
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In terms of levels, immediate resistance for Nifty 50 is notable at 22,800, a significant level on higher time frames, with further resistance observed at 23,170 and 23,400.
Aegis Logistics saw a strong breakout after recent consolidation, and formed robust bullish candlestick pattern on the daily charts with significantly higher volumes. The stock traded above all key moving averages, which is a positive sign.
If the Nifty 50 climbs above 22,127, the previous record high, and sustains the level, then 22,300 could be the next hurdle on the higher side, followed by 22,500, while the immediate support will be at 21,950, followed by 21,750
Ipca Laboratories saw a breakout of downward sloping resistance trendline adjoining highs of December 5 last year and January 12 this year. The stock formed strong bullish candlestick pattern on the daily charts with healthy volumes.
Experts feel 21,000 is expected to be key to watch in the current week, which is full of events including interim budget, and FOMC meet outcome, while on the higher side, 21,500 is likely to be key hurdle, followed by the resistance of 21,700 levels.