The key benchmark indices, the BSE Sensex and Nifty 50 plummeted close to 2.50 per cent each in just two trading sessions, a move last seen during the June and May 2022 market correction, wherein the indices hit new 52-week lows.
This sharp fall, after a thrilling 18 per cent rally from the June lows has made market participants anxious. Technically, a rally of more than 20 per cent is considered as a Bull Market and investors, traders see various opportunities to make immense profits during such phases.
Aggressive traders always look for opportunities where large gains can be made by playing relatively safer bets. Even while taking contra calls, stocks with underlying robust strength are preferred, as the possibility of going wrong becomes lesser.
Despite a dismal start to the trading week and gloomy global sentiment, there are 30-odd stocks among the Nifty 500 index which seem reluctant to give-up the existing uptrend. These stocks exhibit a firm price action on the daily chart and are able to see accumulation on even slightest of weakness.
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First Published: Tue, August 23 2022. 12:22 IST