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About this update from Avanti Feeds Limited

The market closed near 24,500 on the Nifty 50, down just 30 points after recouping over 400 points from the day's low on July 23, effectively absorbing the selling pressure following the budget speech. About 1,410 shares declined, while 933 shares advanced on the NSE. Experts see the Nifty 50 moving towards the 24,600-24,700 zone in the immediate term, as long as it holds 24,400 as a support. Here are some trading ideas for the near term:Ashish Kyal, CMT, Founder and CEO of Waves Strategy AdvisorsAvanti Feeds | CMP: Rs 645.35Avanti Feeds jumped by more than 10 percent during the day on July 23 after Union Finance Minister Nirmala Sitharaman announced that the central government would encourage financing and marketing for shrimp farming via the National Bank for Agriculture and Rural Development (NABARD).Despite the sharp rise, prices failed to close above the consolidated zone. A close above Rs 650 is essential for the bullish momentum to continue. The MACD (Moving Average Convergence Divergence) has shown a bullish crossover, but confirmation is still pending, requiring follow-up buying. The trend for Avanti Feeds is positive. A break above Rs 650 can lift the price higher towards Rs 680, followed by Rs 700, as long as Rs 625 holds on the downside.Strategy: BuyTarget: Rs 680, Rs 700Stop-Loss: Rs 625Godrej Consumer Products | CMP: Rs 1,516.70Godrej Consumer Products rallied around 3 percent on Tuesday. The Nifty FMCG index has rallied more than 10 percent since the beginning of July 2024. The budget announcement towards improving rural demand has fueled the rally in FMCG stocks.Prices gave a breakout of the Rounding Bottom pattern in the previous session, which is a positive sign. Prices also broke out of the upper end of the Bollinger Bands, showcasing a bullish trend. The KST (Know Sure Thing) indicator has turned above the signal line and continues to trade above zero levels, indicating good momentum. The overall trend of the stock is bullish. Use dips as a buying opportunity with a target of Rs 1,580 followed by Rs 1,620. On the downside, Rs 1,450 can act as crucial support.Strategy: BuyTarget: Rs 1,580, Rs 1,620Stop-Loss: Rs 1,450Chemfab Alkalies | CMP: Rs 787.85Chemfab Alkalies has been moving higher recently and is in a strong uptrend. In the previous session, it closed with a massive gain of 9.17 percent. Prices formed a bullish candle and closed ...

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