The Outperformer's Guide: Top Stocks from Each Sector

17 Nov

This analysis highlights key sectors and stocks to watch.

1. Nifty IT CNXIT

● The Nifty IT sector has demonstrated resilience during the recent negative market sentiments.
● Notably, it has formed a Descending Broadening Wedge pattern and expected to breakout soon.

➖ Stock to Watch - Coforge COFORGE
● The stock is currently trading just below its all-time high with a strong uptrend.
● Investors can consider accumulating shares on any dips.

2. Nifty Finance CNXFINANCE

● The Nifty Finance sector has recently breached its trendline support and is now approaching its next key support level, ranging from 22,500 to 22,700.

➖ Stock to Watch - Axis Bank AXISBANK
● The stock is currently trading at its support level, offering a potential short to mid-term trading opportunity.

3. Nifty PSU Bank CNXPSUBANK

● The Nifty PSU Bank sector has consolidated within a range and is nearing its support zone.

➖ Stocks to Watch - State Bank of India SBIN
● The stock is approaching its trendline support level.
● A buying opportunity may arise if the price reaches the 770 level.

4. Nifty Pharma CNXPHARMA

● After experiencing a downturn, the Nifty Pharma sector is now approaching its trendline support level.

➖ Stocks to Watch - Divis Laboratories DIVISLAB
● The price is overall in an uptrend.
● Following a record peak, the stock is now nearing its trendline support level.
● The best buy zone is between 5,500 and 5,600.

5. Nifty Media CCNXMEDIA

● The Nifty Media sector is expected to witness a potential pullback towards the 1,720-1,760 level.

➖ Stocks to Watch - Network18 Media NETWORK18
● The stock is trading just above its trendline support zone, presenting a short to mid-term trading opportunity.

6. Nifty Realty CNXREALTY

● The Nifty Realty index is currently trading above its support zone.

➖ Stocks to Watch - Oberoi Realty OBEROIRLTY
● The stock is trading at the support zone and expected to rise soon.

7. Nifty FMCG CNXFMCG

● After a downfall, index is approaching its trendline support level

➖ Stocks to Watch - Varun Beverages VVBL
● VBL is trading above its support zone, offering a short to mid-term trading opportunity.

8. Nifty Metal CCNXMETAL

● The Nifty Metal sector is trading above its support zone,

➖ Stocks to Watch - Ratnamani Metals & Tubes RATNAMANI
● The stock price has formed an Ascending Triangle pattern and is currently trading above the support level.

9. Nifty Oil & Gas NNIFTY_OIL_AND_GAS

● The Nifty Oil & Gas sector is also trading above its support zone.

➖ Stocks to Watch - Aegis Logistics AEGISLOG
● The stock price is close to breaking through its trendline resistance.
● If it can maintain its position above this level, a rally may be imminent.

10. Nifty Auto CNXAUTO

● Lastly, the Nifty Auto sector is trading above its support zone.

➖ Stocks to Watch - Eicher Motors EICHERMOT
● Eicher Motors is consolidating within a rectangle pattern, indicating a potential breakout.