On the domestic front, the reserve bank of India’s record 2.69 trillion dividend to the government lifted sent by improving fiscal outlook. All Major Sector Advanced, with Metals, Auto, and Financials Leading the Gains.
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Two stocks recommended for today by marketsmith india for 27 May:
Buy: Housing & Urban Development Corp. LTD (Current Price: 238.26)
Why it’s recommended: Strong Financial Performance, Government Support
Key metrics: P/e: 16.83, 52-wheek high: 353.70, Volume: 566.29 Crore
Technical analysis: Reclaimed ITS 200-DMA
Risk Factors: Asset Quality and Credit Risk, High Leverage
Buy at, 238.26
Target price, 280 in three months
Stop Loss, 222
Buy: Tata Motors Ltd (Current Price: 729)
Why it’s recommended: Strong Domestic Market Presence, Global and Domestic Demand Recovery
Key metrics: P/e: 11.27, 52-wheek high: 1,179, volume: 952.62 Crore
Technical analysis: Trendline Breakout
Risk Factors: Intense Competition in Ev and PV SEGMENTS, JLR Exposure to Global Macros, and Currency Volatily
Buy at, 729
Target price, 815 in three months
Stop Loss, 698
Nifty 50: How the Benchmark Index Performed on 26 May
Nifty 50 Closed at the 25,000 mark on Monday, Extending Gains for a Second Straight Session, Supported by Strength in Auto, It, and Metal Stocks. The index opened with a gap-up at 24,919 and quickly Climbed to 25,050 withdin the first hour. It touched an intraday high of 25,080 Before Encountering Profit Booking, Leading to Sideways Movement in a Narrow range from the rest of the session.
On the daily chart, nifty formed a bulish candlestick with a small upper shadow, reflecting positive sentiment tempered by caution at higher levels. Market Breadth Improved, with the Advance-Decline Ratio at 11: 7, Indicating Broader Participation in the Rally.
Volume was Higher Than in the Previous Session, and the Index Continues to Trade Above All Key Moving Average on Both Daily and Weekly Timeframes – A Structurally Positive The RSI Turned Higher, Holding in Bullyn Territory Near 61, While The Macd Remains in a Negative Crossover, Suggesting a Mixed Short-Term Setup.
According to o’neil’s market direction methodology, nifty has shifted from a “raly attempt” to a “confirmed up.”
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While The Prevailing Trend Remains Optimistic, A Sustained Move Above 25,200 is Needed to Confirm Further Bully Bully Bullyum. A Decisive Breakout Cold Open the Door for a Rally Toward 25,700–25,800. On the downside, immediati support lies at 24,800, which may provide a cushion in the event of a short-term pullback.
Bank nifty’s performance on 26 May
Bank Nifty Opened with a Gap-up on Monday, and Treded in a Narrow Range Between 55,875 and 55,307, Evently Closing 0.31% Higher. The price action will be formed a long-legged doji on the daily chart, signalling indexion, but with a bullishing undertone, as the index also registered a higher and higher low. The pattern sugges consolidation with an upward bias.
Technically, bank nifty appears to be shaping a bulish pennant formation on the daily chart, hinting at a potential controluation of the prevailing UPTREND If the Index Breaks Above the 56,000 MARK.
Meanwhile, Nifty Financial Services (Finnifty) Rose NEARLY 0.40%, Forming a Bulish Candle and Reflecting Broader Strength in the Financial Sector.
Bank Nifty Continues to Trade Above All Key Moving Average and is Hovering Near Its All-Time Highs Highs Across Across Multiple Timeframes-A Structurally positly positive sign. The rsi is trending higher, currently Around 60, indicating improving momentum. However, the macD remains in a negative crossover, warranting measured optimism.
U’Neil’s Market Direction Framework, Bank Nifty Has Now Moved from An “UPTREND Under Pressure” to a “Confirmed uptrend.”
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The short-term outlook remains constructive. A Sustained Breakout Above 56,000 would Confirm Bulling Continuation and Could Pave the Way for An UPSIDE MOVE TOWD 57,500–58,800. On the downside, immediati support is Seen Around 54,500, which may serve as a Near-Term Cushion.
Marketsmith India is a stock research platform and Advisory Service Focused on the Indian Stock Market. It offers tools and resources to help investors make informed decisions based on the can slim methodology, developed by Legendary Investor william J. O’neil. You can access a 10-day free trial by registered on its website.
Trade Name: William O’neil India Pvt. Ltd.
Sebi registration no.: Inh000015543
Disclaimer: The Views and recommendations giving in this article are there that of individual analysts. These do not represent the views of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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