Top Two Stocks to Watch Today – 15th September, 2023

Nifty opened higher at 20,128 and climbed up to the level of 20,168, which was a fresh record high. However, it saw some profit-taking after an initial hour of trade and turned volatile. In the last hour of trade, Nifty saw some recovery amid consolidation and closed with a gain of 33 points at the level of 20,103, extending its upward journey for the second consecutive session.

Here are the top two stocks to watch out for on Friday:

1. Page Industries (PAGEIND)

Page Industries (PAGEIND) – 40,045 (down by 0.43% on Thursday)

The stock closed at a crucial support and decisively closed below the 20 DMA. It also closed within the moving average ribbon. Currently, it is trading 2.85% above the 50 DMA. The MACD has given a fresh sell signal, and the RSI confirmed its bearish divergence implications. The Elder’s impulse system has formed strong bearish bars. It closed below the 38.2% retracement level of the prior uptrend. The KST and the TSI indicators have been in the bearish set-up. Over the last five days, it has been forming lower high and lower low candles. The volumes were above average for the last two days, indicating distribution. In short, the stock is on the verge of a breakdown. A move below Rs. 40,000 is negative for the stock, and the next support level is seen around the level of Rs. 39,375.

The graph shows: Page Industries Share Price

2. Shree Cement (SHREECEM)

Shree Cement (SHREECEM) – 26,498.45 (up by 0.99% on Thursday)

The stock has broken out of a six-month range with higher volume. It is trading above all key moving averages. The moving average ribbon is in an uptrend. It is 8.78% above the 50 DMA and 6.67% above the 20 DMA. The MACD is above the zero line, showing strong momentum. The RSI is in the strong bullish zone. The Elder’s impulse system has formed a strong bullish bar. It is above the Anchored VWAP resistance. The KST and the TSI indicators have been in the bullish set-up. In short, the stock has registered a range breakout. A move above Rs. 26,450 is positive, and the next resistance is seen at the level of Rs. 27,100.

The graph shows Shree Cement Share Price

 Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.