Nifty experienced a sixth consecutive negative weekly fall, but a potential pullback is anticipated early in the week due to recovery signals after lower Bollinger Band penetrations. While broader markets struggle, PSU Banks show mixed signals with potential support from key stocks like SBI. MAHLOG and CMSINFO are top picks, indicating reversal attempts with bullish patterns and oversold conditions.
Inditrade Capital's Group Chairman, Sudip Bandyopadhyay, favors life insurance, particularly LIC, citing its strong quarterly results and long-term potential. While cautious about health insurance due to market uncertainties, he highlights domestic-focused pharma like Mankind Pharma and hospital chains like Apollo Hospitals as promising investments, while advising caution on diagnostic companies due to intense competition.
Gold prices experienced a dip on Monday, influenced by a stronger dollar and profit-taking after a recent surge. Investors are keenly awaiting U.S. inflation data, crucial for gauging the Federal Reserve's interest rate strategy. Spot gold decreased by 0.7% to $3,373.37 per ounce.
A total of 15 NSE-listed stocks with a market capitalisation of over Rs 1,000 crore closed above their 200-day moving average (DMA) as of August 8. Of these, we have highlighted the top 10 that posted gains of more than 1.5% in the previous trading session, according to stockedge.com's technical scan data. The 200-day daily moving average (DMA) is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Presidents Donald Trump and Vladimir Putin will hold a high-stakes meeting about the Ukraine war on Friday in Alaska, which the United States bought from Russia more than 150 years ago. They fled just weeks after Putin ordered an unpopular mobilization of citizens to boost his invasion of Ukraine.
