The benchmark indices rallied 1.6 percent on November 3, extending their winning streak to a fourth consecutive session, supported by positive market breadth. About 1,928 stocks advanced against 1,379 declining stocks on the NSE. Markets may witness some consolidation following the sharp rally, although the overall sentiment remains bullish. Here are some short-term trading ideas for investors and traders to consider:
Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors
Tanla Platforms continued its bullish run in the recent session following the announcement of healthy FY27 quarterly results last week, which is a positive sign. On the daily chart, the stock had been forming a rounding bottom pattern since August 11.
In the previous session, the stock finally broke out of the pattern and closed above the neckline at Rs 662.05, indicating strengthening bullish momentum.
Additionally, the consistent formation of green MACD histogram bars above the zero line reflects sustained buying interest.