Wednesday Market Opening: Watch Out For Vodafone, RR Kabel, Trent For Good Returns

The Indian stock market continued with its roller coaster ride on Tuesday. After a positive start on Monday, Tuesday saw the markets declining. The NSE Nifty was down 5.05 points and closed at 19,406.70, while the BSE Sensex was down 16.29 points and closed at 64,942.40. As the market opens for midweek trading, experts say that it may recover. 

Top Gainers Of Last Trading Session

Here are some of the top gainers on Tuesday that got good returns. These included Neuland Laboratories, Dhanuka Agritech, Trent and R R Kabel.

Neuland Laboratories saw a gain of 17.37 per cent and is trading at Rs 4,740.00. In the last five days, it has gained 22.39 per cent. Dhanuka Agritech was up by 11.83 per cent and is available at Rs 883. In the last one month, it has gained 5.04 per cent.  

Trent gained 9.71 per cent, trading at Rs 2,449.95. In the last five days, it has jumped by 13.28 per cent. RR Kabel jumped 8.80 per cent and is trading at Rs 1,525.90. The 52-week high for this one is Rs 1,549.95. 

Bullish Signs In These Stocks

As per the momentum indicator MACD, there are some stocks which are showing bullish signs for the market today. These include Vodafone Idea, Punjab National Bank, Easy Trip Planners and Indian Railway Finance Corp. 

Vodafone Idea is trading at Rs 13.85 following a jump of 2.21 per cent. Punjab National Bank gained 1.60 per cent and is trading at Rs 76.10.

Easy Trip Planners has gained 2.68 per cent and is available at Rs 44.10, and Indian Railway Finance Corp is up by 0.48 per cent and is trading at Rs 73.15.

Gold And Silver Prices For The Day 

22k gold is priced at Rs 56,240 per 10 grams

24k gold is priced at Rs 61,450 per 10 grams

Silver is priced at Rs 74,500 per kilogram. 

Stock Expert Speaks 

Prashanth Tapse, Senior VP (Research), Mehta Equities

Nifty continued its upward trajectory, reaching 19,483 as Fitch raised India's mid-term GDP growth forecast to 6.2%. Buoyed by Wall Street's winning streak, Nifty appears to be the standout Diwali theme. With technical targets at 19,500 and 19,789, Nifty remains optimistic, especially as WTI crude oil prices tumble. Anticipating a dovish Federal Reserve, tech stocks are poised for outperformance. Nifty's options data suggests a trading range of 18,900-19,700, with 19,600 as a crucial resistance point. Additionally, several companies, including Lupin and Tata Power, will release their Q2 results. A preferred trade strategy for Nifty and Bank Nifty is to buy with specific stop and target levels. Finally, there is a bullish outlook on NTPC, EICHER MOTORS, INDUSIND BANK, and L&T FINANCIAL, with an entry point, target, stop loss, and holding period specified for NTPC.

(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)