Stocks to Watch: Groww, Tata Motors PV, Cipla, Varun Beverages, Axis Bank
Indian equity markets ended higher on Tuesday, August 25, with the benchmark Nifty 50 recovering 0.5% to close at 24,334, up 115 points or 0.48% after touching an intraday low of 24,115. The rebound was supported by buying at lower levels, positive global cues, and foreign institutional investor (FII) buying ahead of the monthly F&O expiry.
The Nifty also reclaimed its 20-day exponential moving average (EMA) after several sessions of underperformance. According to Rupak De, Senior Technical Analyst at LKP Securities, the Relative Strength Index (RSI) has entered a bullish crossover, indicating improving momentum. He expects the short-term trend to remain positive, with resistance seen at 24,400–24,480, while immediate support is placed at 24,240.
The Nifty also reclaimed its 20-day exponential moving average (EMA) after several sessions of underperformance. According to Rupak De, Senior Technical Analyst at LKP Securities, the Relative Strength Index (RSI) has entered a bullish crossover, indicating improving momentum. He expects the short-term trend to remain positive, with resistance seen at 24,400–24,480, while immediate support is placed at 24,240.
Next Story