GAIL stock price has been moving in the range of 30-40 points since June 2021, where Rs 110-114 acted as a stiff resistance on the upside. On the downside, however, Rs 80 acted as a strong support on the weekly charts. It is still holding above the breakout area, which suggests that a technical bounce back could be on the cards

Stocks that were in focus include names like NLC India which rose more than 6%, Ircon International gained nearly 7% and Dr Reddy’s Laboratories closed with gains of over 3% to hit a fresh 52-week high on Wednesday.

Rate-sensitive megacap growth and technology stocks, that have led the Wall Street rally this year, such as Nvidia , Apple and Tesla were down between 1.3% and 4.6%

The Reserve Bank is likely to maintain status-quo on the key interest rates for the third time in a row in its upcoming bi-monthly policy review despite the US Federal Reserve and the European Central Bank hiking benchmark rates, as domestic inflation is within the RBI's comfort zone, say experts.

After starting on a tepid note, Indian equities recovered and ended with gains. The Sensex advanced by 149 points to settle at 65,996. The NSE Nifty gained 61.70 points to end at 19,632.55The recovery was led by metal, auto, and select heavyweights. On the flip side, realty was the major laggard. Meanwhile, traders eagerly await the RBI MPC outcome, which is due to be released on Thursday“At present, the index is positioned in close proximity to a critical resistance zone at 19,640, which aligns with its 20-day moving average (20-DMA). A conclusive break above the 19,700 level, especially on a closing basis, would not only signify a reversal of the recent downtrend but also potentially pave the way for further upward movement, targeting the 20,000 mark,” says Kunal Shah, Senior Technical & Derivative Analyst at LKP SecuritiesHere are the stock recommendations for Thursday:

The stock has gained momentum as the company is seen putting behind corporate governance issues that had impacted the company in the last 18 months and is well positioned to fund a plethora of green projects across the country

The floor price for the same has been fixed as Rs 18.44, which is nearly 6% discount from the current levels

The SoftBank-backed company, valued at just $446.8 million as of last close, has been in turmoil ever since it filed its IPO paperwork in 2019 as investors pointed out governance issues involving its then founder-CEO Adam Neumann

The company says it has fixed a floor price of Rs18.44 per share for the QIP, which is a 5.7% discount from the stock's closing price of Rs19.56 per share on Wednesday on the BSE

The focus now is on an inflation report this week after mostly dovish comments from Fed officials

The bank will enter into a share subscription agreement to acquire 14,25,79,161 shares of Max Life on a preferential basis at a fair market value of Rs 113.06 a share.

As per the stochastic oscillator, i.e.a momentum indicator, for these six major banking counters, Stochastic has been reversing from the oversold zone. This implies that the bullish reversal has been attempted and one should attempt to buy the security when the price moves above 20 from the oversold zone. Further, this indicates that the price is bullish and now moving towards the overbought zone. (Source: StockEdge)

The sector was among the worst performing in terms of returns (in low single digits) posted for the investors from FY15-19. Due to the structural changes, manufacturing stocks performance has been better than its peers

Stocks that were in focus include names like NLC India which rose more than 6%, Ircon International gained nearly 7% and Dr Reddy’s Laboratories closed with gains of over 3% to hit a fresh 52-week high on Wednesday.

August 09, 2023, witnessed a remarkable surge in the BSE MidCap Index as several prominent stocks achieved new 52-week highs, signaling positive market momentum and showcasing potential growth within various industries.

Indian frontline indices ended in the green on Wednesday led by buying action in auto, FMCG and IT stocks. The S&P BSE Sensex ended at 65,996, up 149 points or 0.23% while the broader Nifty50 settled at 19,632, up 62 points or 0.32%. The banking gauge Nifty Bank finished 84 points or 0.19% lower at 44,880. Here are the stocks that saw action today:

The data was sourced from BSE at 2.50 pm, and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.

Strong put writer additions were observed at 19,500, which is where maximum open interest on the put side is placed. The level of 19,500 will act as a strong support and the option activity at this strike will provide important cues about Nifty’s intraday direction, Samco Securities said.

August 08, 2023, witnessed a dynamic shift in the stock market as several prominent stocks demonstrated impressive market performance by crossing their 100 Simple Moving Averages (100 SMA).

The initial public offering (IPO) of TVS Supply Chain Solutions will open for subscription on August 10. The issue closes on August 14. Here's everything you need to know about this issue.

On August 9, Trendlyne reported that over 40 Nifty 50 stocks had witnessed the formation of the Golden Crossover. Among these, ETMarkets has carefully selected 10 stocks to explore this pattern and delve into its significance.

Delve into the intriguing interplay between stock trends and Relative Strength Index (RSI) readings as we explore a unique subset of the market. This article dives deep into the fascinating world of stocks trading in the overbought zone with bearish RSI trends. We analyse the RSI movements of 10 carefully selected stocks, providing investors with insights into the potential dynamics at play.

Indian market regulator, Securities and Exchange Board of India (Sebi), has warned Infosys after finding it in violation of insider trading rules, having found that certain log entries were delayed in the digital database maintained by Infosys under SEBI’s Prohibition of Insider Trading Regulations.

From the Sensex pack, JSW Steel, Tata Motors, and M&M were the top gainers, rising 2-3%. Adani Wilmar shares closed 4% lower, following the report that Gautam Adani is considering selling stake in the firm

Equity benchmark indices closed higher on Wednesday, helped by fag-end buying in index majors Reliance Industries, ITC and M&M amid a positive start in European markets. Cautious trade prevailed in the markets for the most part of the day ahead of two major events -- RBI's monetary policy and the US inflation data -- due to be announced on Thursday. The 30-share BSE Sensex climbed 149.31 points or 0.23 per cent to settle at 65,995.81. During the day, it fell by 402.12 points or 0.61 per cent to 65,444.38. The benchmark also touched a high of 66,066.01. The NSE Nifty gained 61.70 points or 0.32 per cent to end at 19,632.55.

From the Sensex pack, JSW Steel, Tata Motors, and M&M were the top gainers, rising 2-3%. Adani Wilmar shares closed 4% lower, following the report that Gautam Adani is considering selling stake in the firm

Investors continued to book profits in largecap funds, as this category saw net outflows for the third straight month in July. The net inflows last month were Rs 1,880 crore, compared to outflows of Rs 2,049.6 crore in June.

RSI, or Relative Strength Index, computes the ratio of the recent upward price movement of the security to the absolute price movement. The metric ranges from 0-100, and the period considered by StockEdge to measure the metric is 14 days. Typically, RSI is a momentum indicator used in the technical analysis of stocks and helps to determine the overvalued or undervalued state of the security.

The RSI is a versatile momentum oscillator that plays a key role in evaluating the speed and direction of price movements. Ranging from 0 to 100, RSI helps investors identify both overbought and oversold conditions. An RSI reading above 70 indicates that a stock might be overbought, potentially setting the stage for a price correction, while an RSI below 30 suggests an oversold condition with potential for an upward reversal

Incred has shared nine stocks from the midcap space wherein it has an ADD recommendation. These stocks can rise between 2-48%. Take a look:

These midcap stocks give bearish signals, indicating that it may be time to sell the counters as the MACD drops below the signal line. Take a look. Note: Data is as of August 8,2023. (Source: StockEdge)

In this article, we delve into the world of stock market analysis, focusing on the Relative Strength Index (RSI) and its pivotal role in understanding stock movements. We explore the recent trends in RSI for a handpicked selection of 10 stocks that have entered the overbought zone. These insights, derived from a recent screener output, offer potential investors valuable information to aid in their decision-making process.

In this article, we delve into the intriguing world of stock market analysis, focusing on the Relative Strength Index (RSI) and its significance in evaluating stock movements. We explore the recent trends in RSI for a selected group of 10 stocks, providing investors with insights to make informed decisions. These insights are derived from a recent screener output and are aimed at assisting potential investors in their quest for profitable opportunities.

The impact of inflation on portfolios highlights the importance of considering asset classes that can provide a hedge against inflation, such as equities and real estate despite a challenge on growth. Investing in volatile markets can be a daunting task, with unpredictable price swings and heightened uncertainty.

The stock witnessed a breakout from a 12-month rectangle pattern in May 2023 on the weekly charts and since then it has been trading above the upper trendline resistance placed around Rs 120 levels.

In the eurozone, Frankfurt's DAX index jumped 0.9 percent to 15,920.92 points and the Paris CAC 40 rallied 1.3 percent to 7,366.01. Bank shares had slumped Tuesday after Italy imposed a windfall tax on lenders and owing to concerns over the health of the sector in the United States.

Even as nifty corrects, more small cap stocks are joining the party and on a number of days the breadth of the small cap segment is better than large caps. Coming on the list is auto ancillary unit to logistic company. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.

The Q1FY24 earnings were followed by reports from top brokerages, including one from the Sydney headquartered Macquarie, which foresees an 'Underperformance' in the stock.

Moody's downgraded 10 US regional banks and placed another six lenders on watch for a possible cut, citing the rising costs of bank deposits and a worsening outlook for credit quality.

While tomato prices increase almost every June-July, potato prices increase after every two years and onion prices rise after every 2.5 years. Given the seasonal nature of price shocks and the fact that these spikes fizzle out within a few months, the RBI has mostly refrained from making its decision while looking at the vegetable basket.

Will the textile companies which came in focus post covid due to China Plus one be able to take the full advantage of PLI scheme and stay in path of consistent and above average profitability or it will be just another phase, analysts are more positive than they have been in the past. This list is drawn from Stock Reports Plus, powered by Refinitiv, with over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum.

"FIIs have turned net sellers and India has underperformed MSCI EM by 3.2 ppts over the last 1 month. While the near-term appears weak, there are more signs of a capex upcycle. Our preference for domestic cyclicals (financials, industrials and property) & midcaps stays," said Jefferies analyst Mahesh Nandurkar.

Jefferies on the other hand took a 'Hold' stance while Kotak Institutional Equities recommended 'Reduce' based on the continuing downward trend in auction prices which it said weighs on the profitability of the company.

"The funds raised are proposed to be strategically infused in Inox Wind Limited, which in turn is proposed to be utilized for the repayment of Inox Wind’s existing debt. This will result in strengthening the balance sheet, enhancing both the company's financial strength and growth prospects," the company said.

For the purpose of this report, we have filtered out stocks wherein the count of analysts is up to 43 and upside potential is up to 27%. The list has been sorted based on potential upside estimated by these analysts.

Jefferies on the other hand took a 'Hold' stance while Kotak Institutional Equities recommended 'Reduce' based on the continuing downward trend in auction prices which it said weighs on the profitability of the company.

Ircon is a Miniratna (Category - I) public sector enterprise and a leading turnkey construction company. The core competence of Ircon is in railway and highway projects.

From the Sensex stocks, ICICI Bank, Maruti, HCL Tech, Wipro, HUL, and Reliance Industries opened in the red, whereas Sun Pharma, NTPC, Power Grid, Titan, Bajaj Finserv, and Nestle opened higher.