ITC, InterGlobe Aviation, Indian Bank: Trading strategies for these 3 buzzing stocks
An analyst from YES Securities said that ITC experienced a gradual decline as it appears to be bottoming out and consolidating as indicated by the historical chart patterns on the daily chart.
- May 23, 2024,
- Updated May 23, 2024 7:25 AM IST
Indian headline indices managed to settle higher on Wednesday after a volatile trading session. Mixed global cues, in-line Q4 earnings and election uncertainty kept the traders hooked to the edges. BSE Sensex jumped 267.75 points, or 0.36 per cent to settle at 74,221.06. NSE's Nifty50 index gained 68.75 points, or 0.31 per cent, to end the session at 22,597.80.
Indian Bank has demonstrated a breakthrough exceeding the prior swing high accompanied by considerable trading volumes indicating a sustained momentum in the ongoing trend. The momentum indicator RSI further reinforces the bullish sentiment by consistently staying above the critical level of 60. Regarding support and potential gains, the stock has established a robust foundation at the lower end around Rs 534. This level is expected to serve as a support, acting as a safeguard against any potential downward movement.
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 headline indices managed to settle higher on Wednesday after a volatile trading session. Mixed global cues, in-line Q4 earnings and election uncertainty kept the traders hooked to the edges. BSE Sensex jumped 267.75 points, or 0.36 per cent to settle at 74,221.06. NSE's Nifty50 index gained 68.75 points, or 0.31 per cent, to end the session at 22,597.80.
Indian Bank has demonstrated a breakthrough exceeding the prior swing high accompanied by considerable trading volumes indicating a sustained momentum in the ongoing trend. The momentum indicator RSI further reinforces the bullish sentiment by consistently staying above the critical level of 60. Regarding support and potential gains, the stock has established a robust foundation at the lower end around Rs 534. This level is expected to serve as a support, acting as a safeguard against any potential downward movement.
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.