Olectra Greentech which surged more than 19 percent to Rs 480, the highest closing level in last one month, and formed strong bullish candle on the daily scale with significantly higher volumes, continuing uptrend for second straight session after taking support at low of September 21, 2021 in previous session.
Sunil Shankar Matkar
February 27, 2023 / 06:29 AM IST
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$ (‘#vlmtxt_’+articleId).show(); $ (‘#stkvol_’+articleId).text(resData[stkKey][‘volume’]); $ (‘#td-low_’+articleId).text(resData[stkKey][‘daylow’]); $ (‘#td-high_’+articleId).text(resData[stkKey][‘dayhigh’]); $ (‘#rightcol_’+articleId).show(); }else{ $ (‘#volumetxt_’+articleId).hide(); $ (‘#vlmtxt_’+articleId).hide(); $ (‘#stkvol_’+articleId).text(”); $ (‘#td-low_’+articleId).text(”); $ (‘#td-high_’+articleId).text(”); $ (‘#rightcol_’+articleId).hide(); } $ (‘#stk-graph_’+articleId).attr(‘src’,’//appfeeds.moneycontrol.com/jsonapi/stocks/graph&format=json&watch_app=true&range=1d&type=area&ex=’+stockType+’&sc_id=’+stockId+’&width=157&height=100&source=web’); } } } }); } $ (‘.bseliveselectbox’).click(function(){ $ (‘.bselivelist’).show(); }); function bindClicksForDropdown(articleId){ $ (‘ul#stockwidgettabs_’+articleId+’ li’).click(function(){ stkId = jQuery.trim($ (this).find(‘a’).attr(‘stkid’)); $ (‘ul#stockwidgettabs_’+articleId+’ li’).find(‘a’).removeClass(‘active’); $ (this).find(‘a’).addClass(‘active’); stockWidget(‘N’,stkId,articleId); }); $ (‘#stk-b-‘+articleId).click(function(){ stkId = jQuery.trim($ (this).attr(‘stkId’)); stockWidget(‘B’,stkId,articleId); $ (‘.bselivelist’).hide(); }); $ (‘#stk-n-‘+articleId).click(function(){ stkId = jQuery.trim($ (this).attr(‘stkId’)); stockWidget(‘N’,stkId,articleId); $ (‘.bselivelist’).hide(); }); } $ (“.bselivelist”).focusout(function(){ $ (“.bselivelist”).hide(); //hide the results }); function bindMenuClicks(articleId){ $ (‘#watchlist-‘+articleId).click(function(){ var stkId = $ (this).attr(‘stkId’); overlayPopupWatchlist(0,2,1,stkId); }); $ (‘#portfolio-‘+articleId).click(function(){ var dispId = $ (this).attr(‘dispId’); pcSavePort(0,1,dispId); }); } $ (‘.mc-modal-close’).on(‘click’,function(){ $ (‘.mc-modal-wrap’).css(‘display’,’none’); $ (‘.mc-modal’).removeClass(‘success’); $ (‘.mc-modal’).removeClass(‘error’); }); function overlayPopupWatchlist(e, t, n,stkId) { $ (‘.srch_bx’).css(‘z-index’,’999′); typparam1 = n; if(readCookie(‘nnmc’)) { var lastRsrs =new Array(); 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alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var postfolio_url = ‘https://www.moneycontrol.com/portfolio_new/add_stocks_multi.php?id=’+dispId; window.open(postfolio_url, ‘_blank’); } else { AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function commonPopRHS(e) { /*var t = ($ (window).height() – $ (“#” + e).height()) / 2 + $ (window).scrollTop(); var n = ($ (window).width() – $ (“#” + e).width()) / 2 + $ (window).scrollLeft(); $ (“#” + e).css({ position: “absolute”, top: t, left: n }); $ (“#lightbox_cb,#” + e).fadeIn(300); $ (“#lightbox_cb”).remove(); $ (“body”).append(”); $ (“#lightbox_cb”).css({ filter: “alpha(opacity=80)” }).fadeIn()*/ $ (“.linkSignUp”).click(); } function overlay(n) { document.getElementById(‘back’).style.width = document.body.clientWidth + “px”; document.getElementById(‘back’).style.height = document.body.clientHeight +”px”; document.getElementById(‘back’).style.display = ‘block’; jQuery.fn.center = function () { this.css(“position”,”absolute”); var topPos = ($ (window).height() – this.height() ) / 2; this.css(“top”, -topPos).show().animate({‘top’:topPos},300); this.css(“left”, ( $ (window).width() – this.width() ) / 2); return this; } setTimeout(function(){$ (‘#backInner’+n).center()},100); } function closeoverlay(n){ document.getElementById(‘back’).style.display = ‘none’; document.getElementById(‘backInner’+n).style.display = ‘none’; } stk_str=”; stk.forEach(function (stkData,index){ if(index==0){ stk_str+=stkData.stockId.trim(); }else{ stk_str+=’,’+stkData.stockId.trim(); } }); $ .get(‘//www.moneycontrol.com/techmvc/mc_apis/stock_details/?classic=true&sc_id=’+stk_str, function(data) { stk.forEach(function (stkData,index){ $ (‘#stock-name-‘+stkData.stockId.trim()+’-‘+article_id).text(data[stkData.stockId.trim()][‘nse’][‘shortname’]); }); }); function redirectToTradeOpenDematAccountOnline(){ if (stock_isinid && stock_tradeType) { window.open(`https://www.moneycontrol.com/open-demat-account-online?classic=true&script_id=$ {stock_isinid}&ex=$ {stock_tradeType}&site=web&asset_class=stock&utm_source=moneycontrol&utm_medium=articlepage&utm_campaign=tradenow&utm_content=webbutton`, ‘_blank’); } } Bears retained their control over Dalal Street for six days in a row, pulling the benchmark indices down to a four-month low on February 24 due to selling in most of the sectors barring healthcare and oil & gas.The BSE Sensex corrected more than 140 points to close below 59,500, while the Nifty50 dropped over 45 points to 17,465, the lowest closing level since October 17 last year, and formed a bearish candlestick pattern on the daily charts making lower highs and lower lows for the sixth straight session.The broader markets, too, were under pressure with the Nifty Midcap 100 and Smallcap 100 indices falling 0.2 percent on weak breadth.However, stocks that outperformed broader markets included Olectra Greentech, which surged more than 19 percent to Rs 480, the highest closing level in the last month and formed a strong bullish candle on the daily scale with significantly higher volumes, continuing the uptrend for second straight session after taking support at the low of September 21, 2021, in the previous session.PB Fintech also formed a long bullish candle on the daily charts with healthy volumes as the stock gained 10.6 percent at Rs 577, the highest closing level since August 16 last year. Also, the stock has seen a decisive breakout of a long downward-sloping resistance trendline adjoining highs of November 17, 2021, and February 13, 2023, and climbed above all key moving averages.Radico Khaitan was also in focus, rising 3.4 percent to Rs 1,172 with above-average volumes, continuing the uptrend for the third day in a row. The stock has made higher highs and higher lows for the second consecutive session and trading above all key moving averages.Here’s what Rajesh Palviya of Axis Securities recommends investors should do with these stocks when the market resumes trading today:PB FintechSince November 2021, the stock was trending down however, with the past 3-4 months of price action the stock has confirmed trend reversal forming a series of higher tops and bottoms. This buying momentum was accompanied by huge volumes, which signal increased participation at lower levels.Currently, the stock is well placed above its 20, 50, 100 and 200-day SMA (simple moving average), which reconfirms a bullish trend. The daily and weekly strength indicator RSI (relative strength index) is bullish terrain and sustaining above the 50-mark, which indicates sustained strength.Investors should buy, hold and accumulate this stock with an expected upside of Rs 650-685, with a downside support zone of Rs 520-480 levels.Olectra GreentechWith last week’s strong upmove, the stock has witnessed a strong rebound from lower levels along with huge volumes. Increased volumes at lower levels signal increased participation at lower levels.With the past couple of weeks’ price action, the stock has formed an “engulfing bullish” which is a short-term trend reversal pattern. The daily and weekly strength indicator RSI is in bullish terrain, which confirms rising strength at lower levels.Investors should buy, hold and accumulate the scrip with an expected upside of Rs 530-555, with a downside support zone of Rs 425-400 levels.Radico KhaitanThe stock is in a strong uptrend across all the time frames forming a series of higher tops and bottoms. The stock is well placed above all its short and long-term moving averages and the price is inching up along with rising averages, which reconfirms a bullish trend.The daily, weekly and monthly strength indicator RSI is in bullish terrain, which confirms rising strength at lower levels.Investors should buy, hold and accumulate the stock with an expected upside of Rs 1,230-1,350.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. 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