New Delhi, India
Omo, make we yarn small about the Indian stock market wey dey take shape like jollof for pot! E stay resilient as e dey hold ground above 25,100, and plenty people dey shout say e fit break new ground soon, reach 25,500. Na Dharmesh Shah wey dey chill with ET Now, talk say slow and steady wins the race. No be lie o, the way this market dey move, e dey sweet pass fresh palm wine!
For the past few months, market don dey form strong base around 24,000 to 25,000, and e dey look like say we go soon see am flourish again. E no go shock me if dem start to make man money like PSL teams wey dey collect trophies. Shah talk say as the market dey grow, e show say plenty stocks dey follow am well.
He quick add say, “The number of stocks wey dey trade above their 15-day moving average for CNX 500 don jump from 25% to 58%, see wetin dey happen!” E further explain say we dey cruise into breakout territory; we dey focus on getting to that juicy target of 25,500 by next week. Sharp guy!
Shah con dey point out the technical setup wey dey show say the 20-day exponential moving average don pass the 50-day moving average – that one na positive sign like say you don get A for your report card. “Omo, anybody wey dey wait make dem sell small, make dem buy,” he add, full of confidence. E dey believe say the bottom don settle around 24,300–24,400, so any chance wey you see around 24,700 na serious buying opportunity!
Now, let’s talk sector. Na capital goods sector dey rays. The way the government dey drop orders, you fit see say e no go be the zero zero wey we dey see before again. Make you shine your eye! L&T be di top man for this sector, as Shah dey shout say the stock don find strong support at di 52-week EMA like say dem dey match gidi gidi for Super Eagles squad.
E don talk say, “If you check am well, whenever this stock dey correct, e dey find support for di 52-week EMA, and after dat, e dey always make new highs. E go shock you if L&T no gree show us road to 3,998 with correct stop loss for 3,344.” No be small talk o!
On top everything, him no forget talk about Bharat Electronics (BEL), di star for defence sector. According to him, BEL don correct well in di past two months after forming higher base at di 100-week EMA. Now na di time wey e dey move enter new breakout after long dey lull like dem dey rest for jacuzzi. Shah dey expect make BEL head towards 424 with stop loss for 375. Na only L&T and BEL dey ginger am!
So, my people, if you no wan miss out on dis sweet stock movement, you better clear your schedule, hold your nose and dive in. Na so e dey go! If you sabi say market kon choke any moment, just buy low and smiles go follow you like confetti. Omo, make we keep our fingers crossed!
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