Trade Spotlight: How should you trade Nuvama Wealth, Zen Technologies, Nippon Life, Ujjivan SFB, SRF, Poly Medicure, and others on Wednesday?

About this update from Safari Industries (india) Limited

The benchmark indices closed flat amid rangebound trade, with the Nifty 50 falling for the third consecutive session on December 10. About 1,281 shares declined compared to 1,230 shares that advanced on the NSE. The market is expected to remain rangebound, though the overall trend continues to be positive. Below are some trading ideas for the near term:Ashish Kyal, CMT, Founder and CEO of Waves Strategy AdvisorsNippon Life India Asset Management | CMP: Rs 805.90Nippon Life India Asset Management has not closed below its prior day’s low since December 3, maintaining a daily bullish bias. In the previous session, the stock gained more than 9% with a significant rise in volume, which is a positive signal. Additionally, parabolic SAR dots have started forming below the prices, providing double confirmation for a bullish stance.However, as the daily RSI (Relative Strength Index) is near its overbought zone, buying on dips appears to be a prudent strategy rather than chasing tops. On the downside, Rs 770 acts as the nearest support. The current trend remains positive, and dips can be used as buying opportunities with targets of Rs 845 and Rs 875 as long as Rs 770 holds on the downside.Strategy: BuyTarget: Rs 845, Rs 875Stop-Loss: Rs 770Zen Technologies | CMP: Rs 2,064.15Zen Technologies was trading in a broad range of Rs 1,650 to Rs 2,000 since October 15 and has given a breakout in the previous session, making a fresh high of Rs 2,097. The stock surged more than 3% and formed a strong bullish candle on the daily chart. The Bollinger Bands have started expanding, which is a positive indicator. Additionally, the RSI at 68 suggests sufficient room for further upward movement. A break above Rs 2,100 is needed for the bullish momentum to continue. The current trend is bullish, with a break above Rs 2,100 potentially lifting prices to Rs 2,200 and Rs 2,280, provided Rs 2,000 holds on the downside.Strategy: BuyTarget: Rs 2,200, Rs 2,280Stop-Loss: Rs 2,000Nuvama Wealth Management | CMP: Rs 7,361.25Nuvama Wealth Management witnessed a sharp rally in the previous session, gaining more than 6% in a single trading day. The stock is forming a rounding bottom pattern on the daily chart. A daily close above Rs 7,490 would confirm a breakout of this pattern. In the previous week, prices found support from the Ichimoku cloud, leading to a sharp bounce on the upside. The trend ...

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