Benchmark indices edged higher on Wednesday on buying in bellwether stock Reliance Industries amid a largely firm trend in global markets.Stocks that were in focus include names like RIL, which rose 1.07% and Infosys, which gained 0.6% and Axis Bank, whose shares fell 2.5% on Wednesday.Here's what Riyank Arora, Technical Analyst at Mehta equities, recommends investors should do with these stocks when the market resumes trading today.ET Big Movers AnalysisReliance Industries (RIL)RIL is currently trading near Rs 1251, facing resistance at Rs 1255, a level tested multiple times in recent sessions. The stock has witnessed consolidation with improving RSI at 51, signaling steady momentum. Key support is at Rs 1243, which aligns with its 9-day EMA.A breakout above Rs 1270 could lead to targets of Rs 1300 and Rs 1310. If the stock closes below Rs 1230, the bullish view will be invalidated.InfosysInfosys has been trading in a narrow range, with immediate support at Rs 1880 and resistance at Rs 2000. The RSI has climbed to 54, indicating recovery from recent weakness.The stock is near a strong base at Rs 1900, which has held firm during previous corrections. A breakout above Rs 1975 could lead to targets of Rs 2000 and Rs 2050. A close below Rs 1880 would negate the positive outlook.Axis BankAxis Bank is trading around Rs 1025, approaching a critical support zone at Rs 1000-1010, which has been a consistent demand area.The RSI has improved to 29, indicating a stabilization phase. A sustained move above Rs 1054 could push the stock toward Rs 1100 and Rs 1120. Conversely, a close below Rs 1000 would weaken the outlook and may lead to further downside.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
- News Source Indiatimes (Click to view full news): CLICK HERE
0 Comments:
Leave a Reply