Wed, Oct 18, 2023 9:25 AM
📢 Benchmark indices open on a flat note today; Nifty near 19,800
A Flip by Shubhangi Gupta
The Nifty index is showing signs of near-term bearishness as it forms a double top pattern on the daily chart, coupled with a bearish engulfing candle. Stocks to buy 📌Dr. Reddy: Buy at ₹6330 | Target Price: ₹6600/6900 | Stop Loss: ₹6100 📌Fortis: Buy at ₹450 | Target Price: ₹480/500 | Stop Loss: ₹430 📌TAJ GVK Hotels and Resorts: Buy at ₹400 | Target Price: ₹435/450 | Stop Loss: ₹385
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The ongoing fourth quarter earnings season, global factors and macroeconomic data would guide the trends in the equity markets this week, analysts said. Markets would also take cues from trading activity of foreign investors, rupee-dollar trend and movement of global oil benchmark Brent crude. Last week, the BSE benchmark climbed 147.99 points or 0.20 percent.
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This week is packed with notable corporate actions. HDFC Bank, HCL Technologies, Oracle Financial Services Software, Laurus Labs, UCO Bank, and Bank of Maharashtra are set to go ex-dividend, while Ajooni Biotech and Sanginita Chemicals have their rights issue ex-date scheduled. On Monday, May 6, John Cockerill India (Rs 7/share) will go ex-dividend.
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