Stocks that were in focus include names like ITC, which rose 0.068%, KPI Green, which jumped 0.82%, and Grasim, whose shares rose 0.010% on Thursday.
Here’s what Viral Chedda, Sr Technical Analyst, SSJ Finance & Securities, recommends investors should do with these stocks when the market resumes trading today.
ITC
Since January 2024, prices topped around 480 and from there made a low around 400 in Mar 2024 and since then prices are making higher high and higher low structures which is a bullish sign.
Prices are above 20- and 40-day ema which suggest the trend is on the upside. RSI is above the 50 mark suggesting bullish momentum.Thus, from the above analysis we conclude that price structure and trend both are bullish for the stock. Any dips towards 430/425 should hold for a rally towards 460/480 in the short term. Even from an investment angle stock looks good for a rally towards 500 and beyond.KPI Green
The price structure is bullish as prices are making higher highs and higher lows as per Dow theory. Prices are above 20- and 40-day ema which suggest the trend is bullish. RSI is above 50 marks suggesting positive momentum for the stock.
From the above analysis we conclude that stock is in positive zone dips to 1800/1700 should find support for a move higher towards 2100/2200.
Grasim
The price structure is bullish as prices are making higher highs and higher lows as per Dow theory. Prices are above 20- and 40-day ema which suggest the trend is bullish. RSI is above 50 marks suggesting positive momentum for the stock.
From the above analysis we conclude that stock is in positive zone dips to 2350/2300 should find support for a move higher towards 2500/2600 in the short term. Even from an investment angle we are positive on this stock for an upside potential of 2800/3000.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)