Higher non-tax revenues, including dividends from the Reserve Bank of India (RBI) and state-run banks, are expected to offset the revenue shortfall from disinvestments, prompting the government to revise downwards the FY24 fiscal deficit target to 5.8% of GDP.
In Thursdays trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached that whether the stock has seen a buildup of fresh long position or not. When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.
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Positive setup was seen in stocks like Syngene, HPCL, BHEL, LIC Housing Finance, Bosch Ltd, DLF, Tata Motors, BPCL, PNB, MGL, Manappuram Finance, Bank of Baroda, Birla Soft, HAL and Zydus Life.