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Sudeep Shah, Head of Technical & Derivatives Research at SBI Securities, predicts that BSE, PB Fintech, and Paytm stocks will likely rise in the coming week. BSE has broken out of an ascending triangle pattern, while PB Fintech has confirmed a stage-2 cup pattern breakout, both supported by strong volume. Paytm is expected to maintain its upward trend as it continues to form higher peaks and troughs, with bullish momentum indicators suggesting further gains.
Foreign institutional investors (FIIs) are increasing bullish positions as the Nifty index hovers above 24,200, with immediate resistance at 24,350 and support at 24,200. A 1.62% rise in open interest for Nifty November futures indicates sustained bullish activity, with analysts noting that a breakout above 24,350 could lead to a target of 24,550. Immediate support levels are identified at 24,130–24,100, with further support at 23,980.
Sudeep Shah, Head of Technical and Derivative Research at SBI Securities, is bullish on Indian Hotels Company and Zomato, noting both stocks are above key moving averages. Indian Hotels is near all-time highs, while Zomato has rebounded strongly above its 20 and 50-day EMA levels. Shah warns that a sustained move below the BSE Sensex's 200-day EMA zone could trigger a sharp correction in the index.
Sudeep Shah
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Stocks to Watch: BSE PB Fintech and Paytm Set for Gains
09:40 08.12.2024
foreign institutional investors boost bullish positions as nifty tests key levels
05:22 26.11.2024
SBI Securities analyst bullish on Indian Hotels and Zomato stocks
Eicher Motors Limited
Zomato Limited
The Indian Hotels Company Limited
HUL
IND
Indian Hotels Company
Sudeep Shah
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01:46 17.11.2024
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