BSE Sensex ended higher by 742.06 points or 1.14 per cent at 65,675.93 level while the Nifty 50 closed at 19,675.45 level, up 231.90 points or 1.19 per cent. Nifty 50 index opened higher and hit intraday high of 19,653 levels, logging 210 points gain during Wednesday session against its Monday close of 19,443 mark.
The broader market was at par with the benchmark indices, the Nifty Midcap 100 closed 0.91 per cent higher and Nifty Smallcap ended 1.27 per cent higher. Also Read: Dividend Yield Stocks: Coal India, ONGC, 8 others among top PSUs paying high dividends; do you own? On the outlook for Nifty 50, Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.
Ltd said, ‘’The index has managed to remain above the crucial 19,400 zone, which is quite important to maintain the bias and sentiment intact as of now.'' ‘’As said earlier, once a decisive move past the 19,650 zone is established, a clear directional move with conviction is anticipated. The support for the day is seen at 19,400, while the resistance is seen at 19,750,'' added Parekh.
The analyst has picked out the top 10 technical picks with a ‘buy’ call on each with peak potential returns in the range of 1.12 per cent - 9.91 per cent. Here are the top technical picks: 1.Hindustan Oil Exploration Co. Ltd: ‘Buy’ at target of ₹192, with a stop loss of ₹154 and peak return of 6.02 per cent 2.Hindustan Copper: ‘Buy’ at target of ₹175, with a stop loss of ₹138 and peak return of 9.91 per cent 3.Indian Railway Finance Corporation (IRFC): ‘Buy’ at target of ₹90, with a stop loss of ₹64 and peak return of 4.84 per cent 4.IDFC Ltd: ‘Buy’ at target of ₹135, with a stop loss of ₹108 and peak return of 3.70 per cent 5.Aditya Birla Capital Ltd: ‘Buy’ at
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