Q1 results of ICICI Lombard, ICICI Prudential; Orient Bell ex-dividend stock in Top News on July 18: Nifty, Amit Shah to launch Sahara Refund Portal, POCO C51 Airtel edition Flipkart sale in focus.
Several stocks, including Jamna Auto Industries, Avanti Feeds, CESCC, Container Corporation of India, Trident, KNR Constructions, DCM Shriram, Rain Industries and Cipla, surpassed their 200 Simple Moving Average on July 6, 2023, indicating a bullish momentum shift.
Natco Pharma has seen a big breakout of around six-week consolidation with strong volumes. The stock has also seen a crossover with 50-day EMA crossing the 200-day EMA in the week gone by, which is a positive sign.
Senior Technical & Derivatives analyst Kunal Shah at LKP Securities recommends smallcap stocks such as Natco Pharma, Swan Energy and DCM Shriram. He anticipates Nifty trading within 18,500-18,900. HDFC and HDFC Bank both remain bullish with strong support and may reach all-time highs. Shriram Finance and Credit Access Grameen experienced strong breakouts, with the latter having strong support for long positions around the Rs1,300-1,280 level. Nifty Metal declined following the Federal Reserve s comments regarding potential rate hikes, while the Nifty FMCG experienced profit booking, leading to bearish momentum.
ETMarkets has listed seven stocks with a market capitalization over Rs 10,000 crore that have recently experienced a Bullish MACD Crossover indicating a potential upward trend. A Bullish MACD Crossover is a signal when the MACD line crosses above the signal line which helps identify potential changes in a stock s trend, from bearish to bullish momentum and is often considered a buying opportunity by technical analysts. The list includes companies from various sectors such as natural gas distribution, textile, banking, agri-inputs, iron ore mining, and steel.