Hot Stocks: 20 March 2024 🔥📈
Nifty Index: The Nifty index dropped more than 150 points on Tuesday, falling below 21,900 points. HDFC Securities’ senior technical and derivative analyst Vinay Rajani stated that as long as the Nifty index remains below 22,300, the market may continue to show sluggishness. Immediate strong support for the Nifty is at 21,850. If this level is breached, the market could witness further decline, with the index potentially dropping to 21,500.
Kotak Mahindra Bank: Buying recommendation for this stock with a target price of Rs 1,820 and a stop loss at Rs 1,667. In the short term, this stock has the potential to provide returns of up to 5% for investors. The stock formed a bullish hammer candlestick pattern on the weekly chart for the week ending 2 March. It has been trending in a positive direction for the past five trading sessions, with indicators and oscillators showing strength in the current uptrend. Consider buying this stock around Rs 1,738. On Wednesday (20 March 2024), the stock was trading at Rs 1,748 with a 0.07% decline.
Tata Steel: Recommendation to invest in this stock with a target price of Rs 162 and a stop loss at Rs 141. In the short term, this stock has the potential to provide returns of up to 8% for investors. After a nearly 13% decline, the stock found support at the 50-day simple moving average (SMA) and bounced back from there. Consider buying this stock around Rs 150. On Wednesday (20 March 2024), the stock was trading at Rs 146 with a 1.98% decline.
Maruti Suzuki India: Buying recommendation for this stock with a target price of Rs 12,400 and a stop loss at Rs 11,100. In the short term, this stock has the potential to provide returns of up to 7% for investors. The stock is very close to its all-time high of Rs 11,730. Despite recent market turmoil, the stock has shown resilience. It is outperforming the auto index and trading above all major moving averages. Consider buying this stock around Rs 11,636. On Wednesday (20 March 2024), the stock was trading at Rs 11,921 with a 2.79% increase.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
