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Analyst Rajesh Palviya, Senior Vice President - Technical and Derivatives Research at Axis Securities said the stock made higher tops and higher bottoms on technical charts, displaying a strong uptrend. On the quarterly chart, the stock has confirmed a rounding bottom formation breakout at levels around 17 on a closing basis, which signals positive bias, Palviya said. ....
Adani Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) and Monday s move has taken the stock into an overbought zone. The day s RSI and MFI stood at 78 for both indicators, as per data available on Trendlyne. ....
Nifty PSU Bank which comprises 12 stocks has yielded nearly 60% in returns in the last 12 months, which is higher from 10%, 13.68% and 14.92% returns given by Nifty50, Nifty Bank and Nifty Private Bank, respectively, during this period. The story remains the same over 6 months, 1 month and the most recent week. ....
Despite weak performance in FY23, Indian oil and gas firms are expected to see revenue and margin growth in FY24 due to lower energy costs and a growing domestic consumer market, according to brokerage firms including Anand Rathi, Nuvama and Nirmal Bang. Firms such as GAIL, Gujarat Gas and Bharat Petroleum Corporation are among top picks. OMCs such as BPCL and IOCL also have strong dividend profiles and counter-cyclical prices, said Nuvama. However, fuel price reductions could pose a risk to earnings, as overall issues with crude prices continue to impact the sector. ....