Indian Market Closes in the Green for the Second Consecutive Day; Analyst Provides Insights on Aster DM Healthcare, Borosil Renewables, and Torrent Power

Key Takeaways:

1. The Indian market closed positively for the second consecutive day, with the S&P BSE Sensex rallying over 700 points and the Nifty50 closing above the 20,000 mark.

2. Sectors in focus included banks, auto, IT, oil & gas, and capital goods, while selling was observed in realty and consumer durable stocks.

3. Notable stocks on Wednesday included Aster DM Healthcare, Borosil Renewables, and Torrent Power, which exhibited significant gains.

4. Analyst Ankit Choudhary provided insights on these stocks from a trading perspective, offering potential entry points, stop-loss levels, and target prices.

An excerpt from a financial news article discussing the performance of certain stocks in the Indian market. The article highlights the performance of specific stocks such as Aster DM Healthcare, Borosil Renewables, and Torrent Power, and provides insights from an analyst on how to approach these stocks from a trading perspective.

The key points from the article are as follows:

The Indian market closed in the green for the second day in a row on Wednesday, with the S&P BSE Sensex rallying over 700 points and the Nifty50 closing above the 20,000 mark.

Sectors in focus included banks, auto, IT, oil & gas, and capital goods, while selling was seen in realty and consumer durable stocks.

Stocks in focus on Wednesday included Aster DM Healthcare, Borosil Renewables, and Torrent Power, which showed significant gains.

An analyst, Ankit Choudhary, provided insights on these stocks from a trading perspective, including potential entry points, stop-loss levels, and target prices.

Here’s a breakdown of the analyst’s recommendations for the mentioned stocks:

1. Aster DM Healthcare

The stock was up by 18% on news of the divestment of its Gulf business for 1 billion dollars.

The analyst mentioned a flag breakout on the weekly charts above 340 levels in September.

Traders can consider taking fresh positions if the stock stays above 400 for more than 15 minutes on Thursday, with a stop loss of 389 and targets of Rs 420.

2. Torrent Power

The stock made a high of Rs 1004 on Wednesday.

The analyst suggested that if the stock is available around previous breakout levels of 840-860, it could be a good buy with a stop loss of 679 for Target 1 of 1000 and Target 2 of 1200.

3. Borosil Renewables

The stock was up by 6%, and a perfect reversal W pattern was formed on the daily charts.

Fresh positions can be considered above 452 for targets of 472 and 502 with a stop loss of 412.

It’s important to note that these recommendations are based on the analyst’s views and opinions, and individuals should conduct their own research or consult a financial advisor before making any investment decisions.

FAQ

Q1: What were the notable sectors in focus in the Indian market?

A1: Sectors in focus included banks, auto, IT, oil & gas, and capital goods, while selling was observed in realty and consumer durable stocks.

Q2: Which stocks exhibited significant gains on Wednesday?

A2: Aster DM Healthcare, Borosil Renewables, and Torrent Power were notable stocks that exhibited significant gains.

Q3: What insights did analyst Ankit Choudhary provide on the mentioned stocks?

A3: Ankit Choudhary provided potential entry points, stop-loss levels, and target prices for Aster DM Healthcare, Torrent Power, and Borosil Renewables from a trading perspective.