Reliance and FMCG Stocks Will Make Noise to Power NIFTY Above 18,000

  • Market Overview

A broad slide on Wall Street reversed two days of gains for stocks Wednesday, as Treasury yields climbed to multiyear highs, tempting traders with higher returns on relatively low-risk investments.

SGX Nifty is likely to open negative to flat.

Indian benchmark indices ended on a positive note in the volatile session on October 20.

The Sensex closed up 95.71 points, or 0.16%, at 59,202.90, while the Nifty gained 51.70 points, or 0.30%, to 17,564.00. About 1597 shares have advanced, 1721 shares declined, and 129 shares are unchanged.

UPL (NS: UPLL ), Adani Enterprises (NS: ADEL ), Tech Mahindra (NS: TEML ), HCL Tech (NS: HCLT ), and Adani (NS: APSE ) Ports were among the top Nifty gainers. IndusInd Bank (NS: INBK ), Asian Paints (NS: ASPN ), Apollo Hospitals (NS: APLH ), UltraTech Cement (NS: ULTC ) and HDFC Bank (NS: HDBK ) were the top losers.

Nifty IT increased by 1.33%, energy stocks increased by 1.4%, PSU banks increased by 1.88%, metals increased by 1.14%, and NiftyBank decreased by 0.68% to 40099.

FMCG stocks such as ITC Ltd (NS: ITC ), Hindustan Unilever (NS: HLL ), Dabur (NS: DABU ), and Marico (NS: MRCO ) were the stocks to watch today. All were up by nearly 1%. This is a good indicator for the market. ITC reached a 52-week high of 350.95 before settling at 349.7. Dabur is making a U-turn and getting support at 520 levels, and today closed 1.87% up at 536 levels. Marico is bouncing back from a weekly low of 508 to close at 523.9 levels, up by 1.32%, and A Big Boy Hindustan Unilever (LON: ULVR ) was also participating in the action and closed marginally up by 0.69% at 2600 levels. The FMCG rally could continue.

Reliance Industries (NS: RELI ) is expected to join the party. I had not seen any big action in price movement from last year, but this week I noticed stocks were up 5.48%, which is very positive for the market and the Nifty. Whenever Reliance starts moving up, it always moves 10 to 12% upside. There is still room for It is currently trading at 2500 levels and if 2523 is tested, then we can see the stock moving to the next level of 2607 levels. If this occurs on a positive note and the global market rallies, we can expect major fireworks in the Indian market next week, with the Nifty trading around 17900–18000 levels.

Stock To Watch:- Reliance Industries, Reliance Industrial (NS: REII ) Infra, Hind Unilever, ITC, Dabur, and Marico for the coming week.

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  • surendra shinde @surendra shinde
    thx
    Like 0
  • Srikanth Jampala @Srikanth Jampala
    what about LIC please suggest
    Like 0
    • SANDESH KUMTAKAR @SANDESH KUMTAKAR
      if it crosses above 425 levels with volume we can expect 480 levels in short term and support level is around 398
      Like 0
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  • Srikanth Jampala @Srikanth Jampala
    wt about LIC please suggest
    Like 0
    • SANDESH KUMTAKAR @SANDESH KUMTAKAR
      if it crosses above 425 levels with volume we can expect 480 levels in short term and support level is around 398
      Like 0
    • SANDESH KUMTAKAR @SANDESH KUMTAKAR
      if it crosses above 425 levels with volume we can expect 480 levels in short term and support level is around 398
      Like 0
    • kadar supermarket @kadar supermarket
      idiot it is 594 right now
      Like 0
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  • Srikanth Jampala @Srikanth Jampala
    wt about LIC please suggest
    Like 0
    • kadar supermarket @kadar supermarket
      lic Gaya tail leyne....it is bakwas stock nothing but pain since the IPO...you need to admit you made a mistake learn from it and move on...at the end i would say....sir yeh toh tattie hai
      Like 1
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