"Smallcap250 Index has formed a Doji candle in the monthly timeframe and a MACD break in the weekly time frame indicating more weakness, with 74% of stocks in the Smallcap250 index seeing a negative weekly closing last week. The number of stocks that remained above 100DMA fell to 59% from 79% and those that remained above 50DMA fell from 82% last week to 40% this week."
Rupak De, Senior Technical Analyst at LKP Securities, recommends PNB, Chambal Fertilisers, and Havells as top stock picks for the week ahead. Nifty levels to watch out for are 22,500 and 22,400 with support expected to hold at 22,400. Bank Nifty is expected to outperform the Nifty with potential upward moves towards 49000.
Altogether the combined market capitalisation of all 24 listed Tata stocks shot up by about Rs 85,000 crore to Rs 31.6 lakh crore, shows data pulled from ACE Equity.
Stock Market Live Updates 1 March 2024 - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Shriram Finance has been included in Nifty50 index as it has the highest 6-month average free-float market capitalization within the eligible universe as a replacement to UPL Ltd, the bourse said. In Nifty Next 50, Adani Power, Indian Railway Finance Corporation, Jio Financial Services, Power Finance Corporation, and REC Ltd have been included