Market Overview
The financial markets are experiencing a wave of uncertainty following the recent Fed decision, leading to notable fluctuations ahead of market openings. The Nifty IT index has seen a decline of 2.5%, indicating a cautious sentiment among investors. Conversely, Nifty Bank showcased a remarkable rebound, recovering approximately 300 points from its lowest levels. Amidst this backdrop, Shriram Finance, Britannia Industries, Bajaj Finance, NTPC, and Hero MotoCorp emerged as the top gainers in the Nifty index, while LTIMindtree, Wipro, Infosys, TCS, and Tech Mahindra are facing downward pressure as the leading losers.
Spotlight Stocks to Watch
In the midst of market volatility, market analyst Anuj Singhal has identified two stocks that stand out for investors today: Bandhan Bank and TVS Motors. Let’s take a closer look at these highlighted stocks.
Bandhan Bank
According to Anuj Singhal, Bandhan Bank exhibits favorable technical indicators, notably holding steady above its 200-day moving average (DMA). The stock has recently exited the futures ban, showcasing significant strength. Notably, Bandhan Bank saw nearly three times its usual delivery volume in trading yesterday, marking its price at a one-month peak. Additionally, short covering trends are becoming apparent in its futures trading, suggesting positive sentiment among investors.
TVS Motors
Anuj Singhal has expressed strong enthusiasm for TVS Motors within the two-wheeler sector. He notes that the stock is experiencing impressive momentum, maintaining a bullish outlook for five consecutive months. The stock is on the brink of breaking through a rising channel that has persisted for approximately seven years. Furthermore, yesterday’s trading saw over seven times the average delivery volume, with open interest (OI) reaching its quarterly peak, indicating robust investor engagement and confidence in the company.
Table of Market Movements
| Stock | Performance | Remarks |
|---|---|---|
| Bandhan Bank | +1 Month High | Strong chart structure and high delivery volume |
| TVS Motors | 5 Months Bullish | On the verge of breaking a 7-year rising channel |
| Shriram Finance | Top Gainer | Stable growth observed |
| LTIMindtree | Top Loser | Facing significant selling pressure |
Disclaimer
Disclaimer: The views expressed on Moneycontrol.com are the personal opinions of the experts. The website or its management is not responsible for these opinions. Moneycontrol encourages users to seek advice from certified financial advisors before making any investment decisions.
