Following the nearly 2,500-point rally in Nifty Bank last week, oscillators are clearly screaming overbought at the top of their voice. “But this is a classic case of bullish phases. The fact negative divergences are visible in weekly and monthly timeframes signals volatility ahead, and cautious against fresh positions, but to let profits run,” says … Read more
Mumbai: Shares of most companies in the power space are at all-time highs helped by the recent uptick in demand, an improvement in pricing trends, and pick-up in industrial demand. Shares of Torrent Power, NTPC and Power Finance Corp hit their lifetime highs on Wednesday, while REC hit its lifetime high earlier this month. Renewable … Read more
Mumbai: Power stocks were among the top gainers on Tuesday, riding the bullish momentum in the past month, as investors bet that the government’s increased thrust on manufacturing would boost the demand for energy. The BSE Power Index, which gained 10% in the last month, rose 1.5% on Tuesday. Analysts believe the favourable government policies … Read more