Copyright © HT Digital Streams Limit all rights reserved. Stock recommendations: Marketsmith India recommends two shares for October 10. Summary Marketsmith India reveals its best recommendations for shares for today, October 10. Get knowledgeable insights on the best performing stocks to guide your investment decisions. Shares Market Repetition: The Indian stock market ended with healthy profits on Thursday, October 9, about buying activities in sectors before the start of the September Revenue season of the September Quarter. It kicked off the heavyweight TCS the earnings season with its Q2 results. The Sensex finished 398 points, or 0.49%, higher at 82,172,10, while the Nifty 50 settled with a profit of 136 points, or 0.54%, at 25,181,80. The BSE midcap and smallcap indices finish with 0.75% and 0.18% respectively. Investors earn more than £ 2 trillion in a single session, as the cumulative market cap of BSE-listed firms in the previous session has risen to over £ 460 trillion. Two equity recommendations by Marketsmith India for October 10 Buy: Steel Authority of India Ltd (Current Price: £ 136) Why It Is Recommended: Government Support, Great Domestic Market Share, Speciality Language Opportunity Under PLI scheme, rising steel demand of rail, renewable energy, cars and housing. IMPORTANT STATISTICS: P/E: 20,95, 52-week High: £ 139.98, Volume: £ 567.2 Crore Technical Analysis: Recycle the 21-DMA on above average volume risk factors: high cyclicality of steel prices; Earnings volatility, dependence on the coal coal (imported) and soil material costs, adherence to the environment, exposure to carbon costs/CBAM, intensity of the work capital; Debtors and stock fluctuations Buy: £ 134–137 Target Price: £ 152 in two to three months Stop loss: £ 127 Buy: Moil (Current Price: £ 389.80) Why It Is Recommended: Dominant Domestic Manganese Producer and Strategic Important, Strong Operational Momentum and Capacity Plans: P/E: 26.92; 52-week High: £ 588; Volume: £ 93.67 Crore Technical Analysis: Break Base Risk Factors: Commodity Price Volatility and Cyclic Question, Foreign Exchange and Export Risk Buy at: £ 385–390 Target Price: £ 440 in two to three months Stop loss: £ 363 How the Nift 50 on October 9th. 135.65 points, while Sensex has progressed in tandem, supported by firm Global Cues and strong buying in IT and Pharma shares. The index traded in a narrow series between 25.024 and 25.199, consolidating more than 25,000 for the third consecutive session. Sector has fared it better than 1.12%amid renewed optimism in world technology, followed by Nifty metal (+2.17%) and pharmaceutical (+1.05%). FMCG, healthcare and financial services have also achieved moderate profits, which reflect broad-based buying. The width of the market remained slightly positive, with 1,600 shares advancing against 1.492, indicating a balanced sentiment. From a technical perspective, the index seems to be entering a phase of short -term stabilization after the recent correctional decline. The successful recycling of the 100-DMA index is an encouraging shift in momentum, which indicates a revival of buying interest near key support zones. The 14 -period RSI has fallen from oversold levels, indicating that the intensity of the sales pressure relieves and that a short -term basis can form. In addition, Nifty’s decisive movement, above its downward tendency line, confirms a possible reversal of the trend, suggesting that a momentum is losing power. Most importantly, the MACD approaches a bullish crossover, which, if confirmed, can further confirm the upcoming recovery setup. According to O’Neil’s methodology of market direction, market status has been downgraded to an ‘upward under pressure’, as Nifty violated its ’50-Dma ‘and the’ distribution day count ‘is on one. Nifty 50 expanded its profits and maintained its bullish momentum. Immediate resistance is seen at 25,200, followed by a key gate near 25,500. A definite exposition and near this zone can accelerate the upward trend, which may float the index to 25,650-25.700. The disadvantage remains a strong support area at 24,900–24.800, where the buying interest is likely to reappear in short -term dips. In general, the broader tendency continues to benefit the Bulls. How did Nifty Bank perform? Bank Nifty opened on a subdued note. However, after striking the Intraday Low Point, it was a strong buying interest that the index lifted in a positive area. It formed a bullish candle and moved higher on an intraday base by 174 points (+0.31%). The index opened at 55,979, an intraday high of 56.286.25 and a low of 55,843.90 touched before sitting down at 56.192.05. The purchase of interest was prominent in Kotak Mahindra Bank (1.06%higher), Indusind Bank (1.16%higher), the Federal Bank (2.27%higher), and IDFC First Bank (1.79%higher), which emerged as the best profits of the day. The strength in these important ingredients helped the index maintain its bullish momentum, which reflects sustained optimism within the bank space. Bank Nifty’s momentum indicator, RSI, moved slightly higher, near 63, while the MACD continued to trade with a positive cross above the signal line – which draws a prevailing bullish undertone. Although the short -term sentiment remains constructive, the broader structure is still awaiting a clear confirmation of the exposition. Traders are advised to remain selective and careful, and to refrain from aggressive positions until a decisive tendency becomes clear. The index has managed to close near its day’s highlight and still trade above all the major moving averages, strengthening the prevailing optimism in the sector. If the positive sentiment continues, the index can move to the previous high of approximately 57,628, indicating an upward potential of about 2.5% of current levels. However, after the recent rally, some profit discussions at higher zones cannot. The disadvantage is placed immediate support near 55,200, followed by 55,000, which is likely to serve as important reference points for short-term nebulity stability and possible buying zones on any withdrawals. Marketsmith India is a stock research platform and advisory service that focuses on the Indian stock market. It provides instruments and resources to help investors make informed decisions based on the Can Slim methodology, founded by legendary investor William J. O’Neil. You can get access to a free ten -day trial period by registering on its website. Brand name: William O’Neil India Pvt. Ltd. SEBI REGISTRATION NO .: INH000015543 DISCLAIMER: The views and recommendations given in this article are those of individual analysts. This does not represent the views of coin. We advise investors to check with certified experts before making investment decisions. Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. More Topics #Markets Premium #Stocks To Buy #stock -Recommendations Read next story
Stock recommendations for October 10 from Marketsmith India
