On the back of positive global and domestic sentiment, the Indian stock markets surged sharply for the second half of the trading session on Friday. All round buying across all sectors made Dalal Street investors richer by Rs.2.5 lakh crore during the previous session. BSE Sensex surged about 629.07 points, or 1.02 per cent, to close at 62,501. 69, while NSE's Nifty 50 surged 178.20 points, or 0.97 percent, to end the session at 18,499. select result bound stocks Bharat Heavy Electricals BHEL Aurobindo Pharma and NHPC are expected to remain buzzing at Dalal Street for the session amid the earnings buzz. BHEL has started trading below the 20-day SMA on the daily chart, which is a sign of weakness. At present, the stock is outpacing the benchmark indices. The momentum indicators are negative, though, indicating a negative trend. One can maintain the stock at current level with a stop loss of 76 for a target of Rs 85 - 91 in a couple of weeks.
The stock is outperforming the benchmark indices. The momentum indicator, viz. MACD is gaining momentum. Combined with the above scenarios, momentum is likely to continue, indicating that momentum on the upside is likely to continue. With a stop loss of 580 Rs, one can buy the stock at current levels for a target of Rs 675 - 710 Rs in the next couple of months.
NHPC is trading in the weak demand zone of 40 to 42. There is a high probability of a strong bounce from the current level. The stock is still a lot better than the benchmark indices. Even momentum indicator, viz. The RSI is well-positioned. Consequently, one can hold the stock at current price with a stop loss of Rs 39 for a target of Rs 48 - 54 in the next couple of weeks.
Here's what Prabhudas Lilladher says of his life as a Bengali civil servant.
Conference call will be held at 11 am on Tuesday.