“Despite overbought readings on the daily as well as some weekly oscillators, the price chart is not displaying meaningful weakness which may not materialise unless the index slips below 17,359 level. If the index sustains above 17,442, eventually the index can head towards 17,800 level. Short-side traders are advised to remain neutral whereas longside players should maintain a stop below 17,440 level,” he said.
5 smallcap stocks nearing ‘buy’ point. Do you own any?
MarketSmith suggests considering ITD Cementation, Neuland Laboratories, Arvind Smartspaces, Sharda Motor Industries, and Choice International as potential buys based on various financial and technical indicators.
April 19, 2024