Nestle India and Aditya Birla Capital are two stocks that traders should be watching closely, according to recent market data. Nestle India saw gains of 4 percent in the futures & options segment, closing at Rs 20,244, which is the highest it’s been since December 22, 2020. This surge was accompanied by a long bullish candlestick pattern on the daily timeframe, supported by strong volumes. The stock’s upward momentum comes as a welcome relief to investors who have been watching the market closely over the past several months.

Aditya Birla Capital is another stock that traders should be paying attention to, as it saw gains of 4.4 percent to close at Rs 165, the highest level since February 28, 2018. The stock is currently trading above all key moving averages, including the 21, 50, 100, and 200-day EMA. Additionally, the stock has formed a long bullish candlestick pattern on the daily scale, supported by above-average volumes.

Despite a nine-day rally, the overall market closed in the red due to selling pressure in technology stocks. The BSE Sensex fell below the psychological 60,000 mark, shedding 520 points to 59,911. The Nifty50 also lost over 120 points to 17,707, forming a bearish candlestick pattern on the daily charts with a long lower shadow. However, both indices managed to defend a downward sloping resistance trendline and stayed above all key moving averages.

The Nifty Midcap 100 and Smallcap 100 indices performed much better than the benchmarks, rising 0.4 percent and 0.3 percent respectively. Traders should keep a close eye on Nestle India and Aditya Birla Capital, as both stocks have shown strong gains and bullish patterns in recent trading sessions. While the market as a whole may be experiencing some volatility, these two stocks seem to be holding strong and may provide attractive opportunities for traders who are looking to make strategic investments. As always, it’s important to do your own research and analysis before making any trades.

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