The Nifty 50 Index Started at 24,786.30, Showing a Slight Increase of 69.70 points or 0.28 percent. In a similar vein, the bse senses commenced trading at 81,492.50, Rising by 118.75 points or 0.15 percent.
Market analysts pointed out that Global Stock Exchanges are grappling with a wave of uncertainty caused by ongoing tarif disputes, Renewed Geopolitical Issues Like the Russia-Ekraine Conflict, and Fiscal differenties in the united states. These combined factors have kept investors on high alert and placed additional strain on global equity markets.
Sachin Gupta at 5paisa recommends two stocks on tuesday – Computer Age Management Services Ltd, and Jio Financial Services Ltd. Here’s what he says about the overall market.
Market Review and Outlook – Sachin Gupta, Senior Research Analyst at 5paisa
Benchmark Indices Opened Lower But Recovered Significantly From The Day’s Lows, Ending Near The Session’s High on June 2. Tensions and Concerns over Trade Deals.
Among the sector, psu banks and realty gained 2% Each. In contrast, consumer durables, it, and metal indices declined by 0.5% Each. Meanwhile, The Nifty Bank Index Hovered Near Its All-Time High.
Technically, on the daily chart the nifty has formed bulish hammer candlestick pattern, indicating the strength near the 20-day ema support. This sugges some buying interest at lower levels. However, the rsi’s negative divergence and a bearish crossover continue to signal weak underling Momentum.
NEARN TERM support is placed Around 24,500/24,300 While Resistance at 24,800/25,000 Levels.
Shares to buy or sell today on tuesday- Sachin Gupta
On Shares to Buy on Tuesday, Sachin Gupta Recommends Two Stocks on Tuesday – Computer Age Management Services Ltd, and Jio Financial Services Ltd.
Computer Age Management Services Ltd (CAMS)
Cams Share Price Has Recently Broken Above Prior Swing Highs, Indicating a clear shift in Momentum and a Possible Continuation of the Uptrend. This breakout is accounable by a notable surge in trading volume, suggesting strong participation from investors and confirming the validity of the move.
Additional, The RSI is in a positive zone, trading Above 60, which supports the bulish momentum without signaling exhaustion. Importantly, the price is trading Above Its 200-DAY EXPONENIAL MOVING Average (EMA), Reinforcing the long-term bullying bias and indicating that stock is in a Structrally Strong Posional.
Therefore, traders are advised to look for buying options in cams, targeting an upside of 4,280/4,350 with a stop loss at 4,000 on a closing Basis.
Jio Financial Services Ltd
Jio Financial Share Price Has Demonstrated A Sharp Recovery Since Reaching Its All-Time Low in Early March, Marking a Notable Turnard in Investor Sentment. The stock has gained significant momentum on bothe daily and weekly charts, characterized by the formation of higher highs and higher lows. This Positive Price Action has been accounted by a surge in trading volumes, further validating the strength of the ongoing uptrend.
Technically, Jio Financial Share Price appears well-positioned as long as it sustains about the crucial support zone of 270. If this Level holds, the bulish momentum is likely to persist in the near term, with an upside target of 320. Investors Currently Holding Positions May Consider MainTaining Them, with a Stop-Loss Placed at 270 to manage downside risk.
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
Discover more from gautamkalal.com
Subscribe to get the latest posts sent to your email.
Be First to Comment