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Nifty key levels to watch on July 30; Check top stock picks for today
Mumbai
Nifty outlook
Breaking a three-session losing streak, the Nifty gained 140 points (0.57 per cent) to close at 24,821. After opening 71 points lower, the index immediately reversed course, staging a recovery of almost 250 points from its early morning low of 24,598 to reach 24,847. The Nifty's close near the day's high resulted in a bullish 'engulfing' candlestick pattern on the daily chart. Consequently, previous day's low of 24,598 now establishes itself as a new support level for the Nifty. In the short term, 24,882 and 25,000 are identified as crucial hurdles on the upside.
Stocks to buy:
Stock price has formed a bullish engulfing candlestick pattern on the daily chart. The price rise was accompanied by a jump in volumes on intraday charts. The stock price has taken support on a 200 double exponential moving average (DEMA). Daily RSI has reached above 40, indicating a sustainable up trend.
Stock price has formed a bullish 'piercing line' candlestick pattern on the daily chart. The price rise was accompanied by a jump in volumes. The stock price has surpassed 50 DEMA resistance. The stock price has formed a strong base near long-term trend line on the monthly chart. Indicators and oscillators like MACD and RSI have turned bullish on the daily chart.
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