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Following the listing today, expert Shivani Nyati, Head of Wealth at Swastika Investmart recommended a hold on the counter with a medium-to-long-term view while suggesting a stop loss at Rs 290. The IPO came at a PE valuation of 45.63X, which she said was reasonably priced.

These 5 stocks can rally up to 21%

“It would be more of a legal demerger process and maybe internally, they have outlined December 25 as a timeline. But what the announcement misses to mention is, is it only a demerger or is it a demerger and listing? If it is only a demerger, then Siemens Energy will remain unlisted as a subsidiary of Siemens India Limited and will operate independently.”

On November 13, Monday, StockEdge unveiled a wave of upward momentum with over 15 stocks trending up. ETMarkets delves into the significance of the Relative Strength Index (RSI) and identifies 5 stocks poised for potential growth based on RSI movements.

“Bottom up, the earnings trajectory, for the index as well as the broader market, has been very, very strong.Valuations being very attractive, banking remains the top pick among many sectors. But outside that, there are many segments within metals and in auto ancillaries in manufacturing, industrial capital goods, again in manufacturing – are the areas where we have been positive.”

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During this rally, 6 midcap stocks managed to hit new 52-week highs.

"Both the sectors which we participate in, the agri segment and the construction segment, are showing fairly robust growth. In the agri segment, we did see a little bit of drop in volumes, especially because of the volatility which we saw in the last part of Q2, but that has stabilized. And the last few weeks, we have seen significant pickup in demand in agri. Construction segment has been showing robust growth."

The Relative Strength Index of the stock stood at 59.57 on Wednesday.

From a technical standpoint, the 19700 level remains a significant resistance for Nifty, while support is observed in the range of 19450-19400, said Shrey Jain, Founder and CEO, SAS Online.