Steel Strips Wheels Limited (SSWL) announced of receiving export orders of nearly 57000 wheels for US & EU trailer market. Post announcement, shares of the company witnessed a positive momentum.

Everyone is eager to know what the mutual fund managers bought and sold and mostly keen to know what they bought. So, which are the stocks that attracted the fund managers in October 2020. Let’s find out.

Shares of companies belonging to the Adani Group continue to be buzzing. Majority of the shares touched their all-time highs on Tuesday. A high trading volume was seen in these stocks as investors find them attractive with positive growth prospects.

In the West, the markets are facing ripples of bad news as US retail sales showed slowest growth in six months and the cases of coronavirus are on a surge. But, the news flow on the Indian shores is quite cheerful and the latest one is that Morgan Stanley is expecting Sensex to touch 50,000 mark by end of next year.

Nifty has immediate support placed in the region of 12,740-12,780 as long as this support is intact buying on dips would be a prudent strategy. On Other hand, targets on upside are placed in the region of 13,000-13,220.

The 14-period RSI on the daily timeframe is in bullish territory. Furthermore, in the recent sideways phase the RSI never breached its 60 mark, which indicates that the stock is in a super bullish range as per RSI range shift rules.

The stock of HDFC Life Insurance Company Limited has given a breakout of Inverted Head and Shoulders pattern on the daily timeframe. This breakout was confirmed by the more than 50-day average volumes.

The stock of Bharat Petroleum Corporation Limited has formed a Bearish Engulfing candlestick pattern on the daily timeframe. The Bearish Engulfing Candlestick pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.

On Tuesday, the first full day trading session of the new year, Sensex gained by 314.73 points or 0.72 per cent to close at 43952.71 levels while Nifty rose by 93.95 points or 0.74 per cent to settle at 12874.20 levels.

The market opened in green on November 17, 2020.