A new record for growth has been established in the market. The Bulls dominate for the 12th straight day. Nifty is trading at or above 25,200.
In this booming market, buyers are evident across all areas. However, smallcap and midcap stocks are also seeing movement.
Pharma and government banks and realty stocks have seen the biggest gains. The three indices of the sector have gained about 1 percent.
The shares of Divi’s, Syngene, and Lupin have gained about 2 percent. HDFC Bank, L&T, Bajaj Finance, Bajaj Finserv as well as Coal India are the top gainers of Nifty.
However, Tata Motors, TCS, Bajaj Auto, Sun Pharma as well as HDFC Life are the top losers of Nifty.
In this situation, a renowned stock market anchor has bet on the companies MPHASIS and BAJAJ Finance as today’s Spotlight Stocks. Let’s review these two businesses.
MPHASIS
The renowned anchor is bullish about this IT sector. He is a fan of the shares of MPHASIS within this sector.
He believes the market is experiencing a strong buying opportunity for IT stocks. The stock has been in an upbeat trend for the third consecutive week.
The stock is now crossing the channel of 3 years. The price is higher than the year-end level. Short covering has been observed on the stock for three days.
BAJAJ FINANCE
A renowned stock market anchor has said that even though there might not be a surge in Nifty Bank however, there is a huge growth in Nifty Financial Services.
The market has witnessed something new in both NBFCs and banks. This is why huge changes are happening in the NBFC sector.
Because of this, he has a bullish outlook on the stock of Bajaj Finance of NBFC.
The renowned stock market anchor claims that Bajaj Finance has crossed 50 and 200 DMA in one candle within a single day.
The stock’s high is higher than the mark of Rs 8,000. The stock saw nearly twice the volume of deliveries yesterday.
It has been in a positive mood for four consecutive days. The stock has a strong chance of seeing a reversal. The short-covering trend has been observed shortly over three consecutive days.
Quick Fact
Mphasis
| Company name | Mphasis |
|---|---|
| Sector | IT |
| Buying Trend | Strong |
| Stock Trend | Positive |
| Weeks Uptrend | 3 |
| Short Covering | 3 days |
| Price Status | Higher than year-end level |
| Channel Crossing | 3 years |
Bajaj Finance
| Company name | Bajaj Finance |
|---|---|
| Sector | NBFC |
| Market Status | High growth in NBFC sector |
| Stock Trend | Positive |
| DMA Crossover | 50 and 200 DMA in one candle |
| Stock Price | Higher than ₹8,000 |
| Volume Status | 2x Delivery Volume |
| Days Uptrend | 4 days |
| Short Covering | 3 days |
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