Top Two Stocks to Watch Today – 28 September, 2023

Nifty settled near the day’s high and formed a bullish engulfing candlestick on the daily chart, suggesting a further positive move. Nifty started the day lower at 19637 and slipped to 19554 but rebounded smartly in late morning deals to hit the day’s high of 19731. Nifty made a smart recovery in yet another volatile session to close 52 points higher at 19716.5.

Here are the top two stocks to watch out for:

Escorts Kubota Ltd

The escorts kubota ltd stock closed at a new high with higher volume. It also broke out of a base, retested, and bounced. The Bollinger band began to expand from a tight contraction. The stock is trading 16.84% above the 50DMA and 5.20% above the 20 DMA. The MACD is about to give a bullish signal. The RSI has taken support at 60, and a bounce is a bullish signal. The Elder’s impulse system has formed a strong bullish bar. The KST and TSI indicators are about to give a bullish signal. In short, the stock has registered a bullish breakout. A move above Rs. 3320 is positive for the stock, and on the upside, it has the potential to test the level of Rs. 3385.

Gail (India) Ltd

The gail india ltd stock closed at a crucial support level. It is at the prior resistance level as well. The stock has been trading below the 20 DMA for the last four days and is currently 2.44% below the 50 DMA. The MACD is in a bearish setup. The RSI is hovering just above the 50 support level, indicating a neutral zone. The Elder’s impulse system has formed a strong bearish bar. The KST and the TSI have been in a bearish setup. It has retraced almost 50% of the prior upswing. In short, the stock is on the verge of breaking a crucial support level. A move below Rs. 120 is negative for the stock, and it could potentially test the level of Rs. 115 on the downside.

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.