Adani Power, Bajaj Finance, PNC Infratech: How to trade these 3 buzzing stocks

Adani Power, Bajaj Finance, PNC Infratech: How to trade these 3 buzzing stocks

An analyst from StoxBox said that the pattern analysis of Bajaj Finance reveals a sideways trend over the past three years, characterized by diminishing price depth and time corrections following each price contraction.

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Adani Power is trading below key moving averages, accompanied by a negative crossover of these averages, which indicates a bearish trend with diminishing momentum, said the analyst.Adani Power is trading below key moving averages, accompanied by a negative crossover of these averages, which indicates a bearish trend with diminishing momentum, said the analyst.
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Pawan Kumar Nahar
  • Dec 27, 2024,
  • Updated Dec 27, 2024 8:25 AM IST

Indian benchmark indices settled little changed on Thursday, on the last expiry of the year amid the absence of major domestic and global triggers. The trend remains muted ahead of the new year. BSE Sensex shed merely 0.39 points to end the session at 78,472.48. However, NSE's Nifty50 gained 22.55 points or 0.1 per cent, to settle at 23,750.20 for the day.

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Some buzzing stocks including Adani Power Ltd, PNC Infratech Ltd and Bajaj Finance Ltd are likely to remain under the spotlight of traders for the session today. Here is what Kushal Gandhi, Technical Analyst at StoxBox has to say on these stocks ahead of Friday's trading session:

 

The pattern analysis of Bajaj Finance reveals a sideways trend over the past three years, characterized by diminishing price depth and time corrections following each price contraction. Consequently, the primary trend currently does not provide any clear directional bias. The stock shows a relative weakness compared to the Nifty50, with volatility slightly elevated. Additionally, the daily RSI is trending downward below the median levels, indicating a decline in momentum. Therefore, we recommend refraining from purchasing shares of Bajaj Finance at the current market price.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Indian benchmark indices settled little changed on Thursday, on the last expiry of the year amid the absence of major domestic and global triggers. The trend remains muted ahead of the new year. BSE Sensex shed merely 0.39 points to end the session at 78,472.48. However, NSE's Nifty50 gained 22.55 points or 0.1 per cent, to settle at 23,750.20 for the day.

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Related Articles

 

Some buzzing stocks including Adani Power Ltd, PNC Infratech Ltd and Bajaj Finance Ltd are likely to remain under the spotlight of traders for the session today. Here is what Kushal Gandhi, Technical Analyst at StoxBox has to say on these stocks ahead of Friday's trading session:

 

The pattern analysis of Bajaj Finance reveals a sideways trend over the past three years, characterized by diminishing price depth and time corrections following each price contraction. Consequently, the primary trend currently does not provide any clear directional bias. The stock shows a relative weakness compared to the Nifty50, with volatility slightly elevated. Additionally, the daily RSI is trending downward below the median levels, indicating a decline in momentum. Therefore, we recommend refraining from purchasing shares of Bajaj Finance at the current market price.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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