Business & Finance
Rajesh Palviya of Axis Securities suggests buying Avanti Feeds, Union Bank, Pidilite stocks on Monday
The Sensex and Nifty 50 closed Thursday’s trading session on a flat note, despite hitting new highs of 74,245.17 and 22,525.65, respectively. Market analysts credit the record highs to US Fed Chairman Jerome Powell’s dovish remarks. Metal stocks saw a significant rise, with the Nifty Midcap 50 Index up by 0.23% and the Nifty Smallcap Index up by 0.85%.
The 30-share BSE Sensex ended the day higher by 33.40 points at 74,119.39, while the Nifty 50 closed at 22,493.55. The positive sentiment in the markets is expected to continue, with investors focusing on the outcome of the European Central Bank interest rate meeting and the US Non-Farm Payroll data due to be released on Friday.
According to Rajesh Palviya, SVP – Technical and Derivatives Research at Axis Securities, the Nifty 50 index is showing bullish sentiments with a continuous trend of forming higher tops and bottoms. The index is likely to move between the range of 22,000 and 23,000, with a key level at 22,500. Palviya also provided stock recommendations for Avanti Feeds Ltd, Union Bank, and Pidilite Industries, advising investors on potential upside and downside levels.
Investors are urged to seek advice from certified experts before making any investment decisions based on individual analysts and broking company recommendations. Stay updated with the latest financial insights by subscribing to Mint on WhatsApp Channels.
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