ICICI BANK
Last Traded Price @ 1377
Support Range @ 1344 / 1330
Resistance Range @ 1393 / 1400
ICICI Bank stock is likely to rise in the coming days as the bank has shown strong profit in its recently announced quarterly results. The bank has recently shown good growth in its revenue and profit, especially in the retail and corporate loan segments. Financial management has also been effective and the NPA (non-performing loans) ratio is decreasing. The stock market has been positive with a profit growth of around 15.5% year-on-year.
BHARAT FORGE
Last Traded Price @ 1283
Support Range @ 1260 / 1244
Resistance Range @ 1303 / 1313
Bharat Forge’s stock is likely to rise in the coming days as the company is getting strong orders from the defense, auto and industrial sectors. The government’s support for “Make in India” and defense manufacturing is proving to be deeply beneficial for the company. Besides, Bharat Forge’s focus on electric vehicles and new technologies and its presence in the global market are also instilling confidence among investors.
JSW STEEL
Last Traded Price @ 1142
Support Range @ 1123 / 1108
Resistance Range @ 1157 / 1173
JSW Steel stock is likely to rise in the coming days as the company has recently announced strong financial results and domestic steel demand is continuously increasing. The government is spending more on infrastructure and housing, due to which the demand for steel is seen increasing. Steel prices in the global market are also stable, which could create a favorable situation for the company.
AURO PHARMA
Last Traded Price @ 1091
Support Range @ 1063 / 1044
Resistance Range @ 1104 / 1120
Aurobindo Pharma shares are likely to rise in the coming days. The company is continuously getting new ANDA approvals in the US market, due to which its product portfolio has become stronger and profitability is expected to increase. Recently, the company has increased investment in API and biosimilar segments, which can prove to be important for growth in the long term. Also, the strengthening dollar and increasing demand for global healthcare products are giving additional benefit to export-oriented companies like Aurobindo Pharma.
SBI CARDS
Last Traded Price @ 937
Support Range @ 909 / 898
Resistance Range @ 953 / 960
The possibility of an increase in the stock of SBI Cards in the coming days is based on some important reasons. The use of digital payments and credit cards is continuously increasing in the country, which is beneficial for the company’s business. Also, SBI Cards has shown strong profits in the last quarter and the number of new customers is also increasing. The company is trying to increase market share through its products and offers.
Ravi Bhatt
SEBI Registered Research Analyst
SEBI Registration Number :- INH000012591
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