Apollo Tyres was also in focus, rising 4 percent to Rs 301, the highest ever closing level. The stock has formed strong bullish candle on the daily charts with above average volumes after consolidation for around one-and-half-month. The market extended its northward journey for the second consecutive session, tracking positive global cues and buying across sectors (barring pharma) on November 7. The broader markets also traded higher with the Nifty Midcap 100 and Smallcap 100 indices rising eight-tenth of a percent, outperforming benchmarks. The BSE Sensex rallied more than 200 points to 61,185, while the Nifty50 jumped 86 points to close above 18,200 mark and formed Doji kind of pattern on the daily charts, indicating indecision between bulls and bears about further trend.
India VIX, Which Measures The Expected Volatility In the Market, Fell By 0.44 Percent to 15.59 Levels, Giving Comfort To Bulls.
Stocks that were in action and performed better than broader markets included Britannia Industries which was the second largest gainer in futures and options segment, rising nearly 9 percent to end at record closing high of Rs 4,139 after strong gap opening and formed long bullish candle on the daily charts with robust volumes after consolidation for more than a monthSJVN shares jumped nearly 7 percent to end at record closing high of Rs 38.55 after a gap up opening, and formed bullish candle on the daily frame with large volumes after consolidation in previous week Apollo Tyres was also in focus, rising 4 percent to Rs 301, the highest ever closing level. The stock has formed strong bullish candle on the daily charts with above average volumes after consolidation for around one-and-half-month. Here’s what Vidnyan Sawant of GEPL Capital recommends investors should do with these stocks when the market resumes trading today: Britannia Industries On looking at the larger picture of Britannia, we can observe that the prices are trying to come out of a broader range (Rs 4,153 -3,070 Level) where prices were stuck for almost 2 years. In the latest trading session, prices gave breakout from the Inverse Head and Shoulder pattern, indicating beginning of the trend on the upside.
The Breakout is Confirmed By the Higher Volumes.
The Bollinger band on the Daily timeframe have started to expand, indicating rising volatility of the prices. RSI (relative strength index) on the daily timeframe have shown breakout too, reflects the rising momentum of the underlying We recommend trader and investor to buy this stock for target of Rs 4,832 with a stop-loss at Rs 3,680 SJVN is currently nearing its record high level, which tells that the stock already is in strong momentum On October 27, 2022, the stock gave a breakout from the rounding bottom pattern, which indicated beginning of the trend on the upside The breakout is confirmed as it was accompanied by higher volumes. The stock has shown a positive crossover of its Key moving averages 20 and 50 days EMA (exponential moving average), which have acted as a variable support to the prices MACD (moving average convergence and divergence – 20, 50, 9) have also shown a positive crossover above zero line. Which shows the tendency of the prices to trend We recommend traders and investor to buy this stock for the target of Rs 50 with a stop-loss at Rs 34. Apollo Tyres has sustained well above its crucial support of Rs 250 level. While in the latest trading session, prices have also shown a sharp bounce while taking support from the bullish trend line. Around Rs 277 level, the stock has shown change in the polarity by the prices which points towards the Rising Bullish Sentiment of the prices The stock has shown a positive crossover of its key moving averages 20 and 41 days EMA, which have acted as a variable support to the prices RSI on the daily timeframe have shown Bullish Reversal, reflects the rising momentum of the underlying.Going ahead we expect the prices to move higher till Rs 340 level, with a stop-loss at Rs 285 on the closing basis.Disclaimer: The views and investment tips expressed by investment experts on are their own and not those of the website or its management. advises users to check with certified experts before taking any investment decisions.
