Thursday Market Opening: Watch Out For Titan, BPCL For Day’s Trading
The midweek trading in the Indian stock market turned out to be positive and both NSE and BSE closed in green. The NSE Nifty was up 28.45 points and closed at 19,811.85, while the BSE Sensex was up 92.47 points and closed at 66,023.24. As the market opens for Thursday’s trading, experts say that the mood is still volatile so be careful.
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 IRB Infrastructure Developers, Muthoot Finance, Titan Company and Bharat Petroleum Corporation.
IRB Infrastructure Developers is trading at Rs 37.20 following a jump of 0.13 per cent. Muthoot Finance gained 0.65 per cent and is trading at Rs 1,338.
Titan Company has gained 1.05 per cent and is available at Rs 3,429.95, and Bharat Petroleum Corporation is up by 3.69 per cent and is trading at Rs 402.30.
Top Gainers Of Last Trading Session
Here are some of the top gainers during Wednesday’s trading session that gave good returns to investors. These included Genesys International Corporation, Vardhman Textiles, Mazda and New India Assurance Company.
Genesys International Corporation saw a gain of 16.21 per cent and is trading at Rs 359.25. In the last five days, it has gained 12.20 per cent. Vardhman Textiles was up by 8.41 per cent and is available at Rs 416.50. In the last one month, it has gained 17.71 per cent.
Mazda gained 6.71 per cent, trading at Rs 1,361. In the last five days, it has jumped by 4.06 per cent. New India Assurance Company jumped 7.34 per cent and is trading at Rs 177. The 52-week high for this one is Rs 177.85.
22k gold is priced at Rs 56.850 per 10 grams
24k gold is priced at Rs 62,020 per 10 grams
Silver is priced at Rs 76,000 per kilogram.
Stock Expert Speaks
Prashanth Tapse, Senior VP (Research), Mehta Equities
Gift Nifty teeters near dotted lines, but our prediction signals robust gains for Nifty. Two key catalysts include a 4% drop in WTI Oil prices to $74.50/barrel due to a delayed OPEC+ meeting and Wall Street's resilient climb despite hawkish FOMC minutes. Technically, victory for bulls looms as Nifty eyes closure above the critical 19,889 level. Notably, breaching 19,889 could usher in a bullish Christmas for Dalal Street and global markets. Any corrective declines to Nifty at 19,681 are anticipated to find substantial support.
Options data suggests a likely Nifty trading range of 19,300-19,800. The preferred trades for Nifty and Bank Nifty involve buying at current levels with specified stops and targets. Also, our chart of the day favours INDIGO, MUTHOOTH FINANCE, TATA CONSUMER, and TITAN on intraday weakness.
For immediate action, consider buying NTPC at CMP 254 with a stop at 247 and targets at 261/266, including aggressive targets at 277, employing an intermonth strategy due to its momentum play.
(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)
