Equity markets ended lower on Wednesday, led by selling in metal and financial stocks. Analysts said that without clear cues from global markets, participants are hesitant to make big moves. However, several individual stocks outperformed, including Mahindra CIE Automotive, Dixon, and Elgi. Technical analyst Rohan Shah recommends buying all three stocks. Elgi is expected to continue upward momentum towards 625 levels in the short term and possibly hit 700 levels in the medium term. For Mahindra CIE Automotive, the support comes near 435 while the level of 540 is anticipated to act as resistance on the higher side. Dixon has broken out of the symmetrical triangle pattern with high volumes and is expected to do well going forward.
FM Sitharaman takes part in customary halwa ceremony; marks final stage of Budget preparation
Finance Minister Nirmala Sitharaman participated in the traditional ‘halwa’ ceremony, marking the final stage of preparing the Union Budget 2025-26. This custom signifies the ‘lock-in’
January 24, 2025