Key Points
The euphoria from the FED rate cut continued to lift the domestic market as benchmark Sensex soared 384 points on Monday to close at a new all-time high of 84,928, while Nifty too ended at a record peak of 25,939...
The stocks that were in focus included names like ONGC, which rose 3.06%, Glenmark Pharma, which gained 4.2%, and Reliance Power, whose shares jumped nearly 5% on Monday.. Here's what Ameya Ranadive, Sr Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today...
ONGC, trading around Rs 295.45, has shown resilience after correcting from its August highs of Rs 345..
Technically, the RSI is in the mid-range, suggesting neither overbought nor oversold conditions, making the stock poised for potential upside if volumes increase..
On the technical side, the stock has formed a bullish trend, supported by higher volumes, indicating strong investor interest..
