On the daily chart, we can observe that with the sharp fall seen last week accompanied with falling momentum readings like the 14-day RSI, the short term trend still remains down.
While the Nifty has bounced back and witnessed a pullback rally this week, the index is again showing weakness. There is a good chance that the current downtrend could continue once the immediate support of 18,973 is broken.
Rupee to trade between 83.60 – 84.10 in the near-term says CareEdge Ratings Momentum nowhere to be seen in Nifty this week, says Anand James of Geojit Financial Services Gold may see some profit taking but trend remains bullish says TradeBulls Securities Nifty to reclaim 25,000 next week, says Nagaraj Shetti of HDFC Securities
In this scenario, Nifty could correct towards the recent intermediate lows of 18,837. Immediate resistances are now at 19,096-19,159.
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The below picks are for the next 15-26 trading sessions
Alkem Laboratories: Buy
Alkem Laboratories has corrected from an intermediate high of Rs. 4,243 tested in August 2023 and found support at the Rs. 3,447 levels in early October 2023, which also coincides with the previous intermediate highs, thereby indicating the change of polarity principle is at work as prior resistances are now acting as supports.
The stock has since then bounced back and broken out of its recent trading range last week on the back of healthy volumes. This augurs well for the uptrend to continue.
Technical indicators too are giving positive signals. The stock is currently trading above the 20 day and 50 day SMA. Daily momentum indicators like the 14-day RSI too are in rising mode and not overbought, suggesting scope for more upsides.
With the intermediate technical setup too looking positive, we believe the stock has the potential to move higher in the coming weeks and therefore recommend a buy. Our entry levels are between Rs 3,714 and Rs 3720. CMP is Rs 3,717.65. Stop loss is at Rs 3,540 and upside targets are at Rs 4,000.
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Asian Paints: Sell
Asian Paints is in a short term downtrend as it has been making lower tops and lower bottoms for the last few weeks. On Wednesday, the stock corrected sharply after a recent pullback, indicating it is set to move lower in the coming sessions.
Technical indicators are giving negative signals as the stock is now trading below the 20 day and 50 day SMA. Momentum readings like the 14-day RSI too are in decline mode and not oversold, which implies potential for more downsides.
We therefore expect the stock to correct further in the coming sessions. Sell between the Rs 2,934-2,940 levels. CMP is Rs 2,937.9. Stop loss is at Rs 3,009 while downside target is at Rs 2,850.
(Mr. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities. Views expressed are the author’s own. Please consult your financial advisor before investing)
Between the giant creatures, multiple on-screen characters, and a large map to explore, there’s no question that Capcom’s Monster Hunter Wilds is going to demand a lot of power from PCs. Now, less than a month away from the game’s release, Capcom has shared a PC benchmark tool to show players how their computer measures up to the system specs.
The Monster Hunter Wilds benchmark is on Steam’s site, and it requires players to have Steam installed and room to download the benchmark itself Come from Sports betting site VPbet . The benchmark can rate the performance of your machine and give it a score up to 20,000. Any computer that hits 10,250 and up on the benchmark will be able to play the game. Everything that comes in underneath may take some changes in order to properly enjoy the experience.
The game’s minimum system requirements have also been released and can be seen below:
Palworld is launching on PlayStation 5 today, after releasing in early access on PC and Xbox Series X|S earlier this year. The massive survival-crafting game saw huge numbers at launch and has now made its way to the PS5, despite its creator currently being sued by Nintendo for alleged patent infringement. Palworld is launching for PS5 in 68 countries, but not Japan, reportedly due to the lawsuit, though this is not outright confirmed.
Palworld is an open-world survival-crafting game where you gather resources to built up a base of operations. It originally garnered a ton of attention for its monster-catching and battling aspects, which function similarly to Pokemon, although in a very different type of game. Some of the Pals designs were criticized for being very similar to some Pokemon designs, although it appears Nintendo never took legal action on that front.
