Add these 7 stocks to your watch list, bullish momentum may continue on September 3 as well, know confirmation

As we approach September 3, 2024, several stocks are showing strong bullish momentum, making them prime candidates for your watchlist. The stocks gaining attention include Adani Green Energy, JIO Financial Services, Bajaj Holdings & Investment, Bajaj Finance, SBI Cards & Payment Services, Adani Energy Solutions, and IndusInd Bank. This article delves into the market performance, technical and fundamental analysis, and provides insights on the expected price movements for these stocks.

Market Performance and Technical Analysis

Adani Green Energy Share Price

Current Share Price and Market Performance of Adani Green Energy

The share price of Adani Green Energy has shown a remarkable trajectory over the past year. With a 52-week high of ₹2174.10 and a low of ₹815.55, the stock has demonstrated substantial volatility. Currently, it holds a market capitalization of approximately ₹29,920 crore, reflecting its strong position in the renewable energy sector.

On September 2, 2024, the stock was noted to have increased by 5.69% from the previous closing price, indicating a bullish trend that may continue into September 3. This upward movement is attributed to several factors including strong quarterly results and a positive outlook for renewable energy.

What to Expect on September 3

As we move into September 3, 2024, investors should remain vigilant. The bullish momentum seen in the stock price is likely to continue, but potential market corrections should also be considered. Investors are advised to keep an eye on market news and updates that could impact share prices.

JIO Financial Services Share Price

As of September 2, 2024, JIO Financial Services is making waves in the stock market. The share price is currently hovering around ₹326.30, reflecting a modest increase of approximately 1.43% for the day. Investors are keenly observing this stock as it shows signs of potential bullish momentum. With a market cap of ₹2,09,404 crore, JIO Financial Services is a significant player in the financial sector. This article will explore the current share price, market performance, and insights into what investors can expect on September 3, 2024.

Current Market Performance

On September 2, 2024, JIO Financial Services shares traded at ₹326.30, marking a slight upward trend. The stock has seen a trading volume of over 12.8 million shares, indicating strong investor interest. Over the past month, the stock has experienced minor fluctuations, with a decline of about 0.08%. However, it is essential to note that the stock has shown resilience despite the overall market volatility.

Price Trends and Historical Performance

The share price of JIO Financial Services has fluctuated within a 52-week range of ₹204.65 (low) and ₹394.70 (high). The stock’s all-time high was achieved on April 23, 2024, and it has since faced challenges, including a decline of approximately 5.24% over the last three months. This performance highlights the stock’s volatility and the dynamic nature of the financial markets.

Bajaj Holdings & Investment and Bajaj Finance Share Price

Bajaj Holdings & Investment and Bajaj Finance are two key stocks in the financial sector. Bajaj Finance has been a consistent performer, with strong quarterly results driving investor confidence. Analysts predict continued growth, making it a stock to watch closely. The market is optimistic about Bajaj Holdings as well, given its diverse investment portfolio and solid financials.

SBI Cards & Payment Services Share Price

As we approach September 3, 2024, SBI Cards & Payment Services (SBI Card) is expected to continue its bullish momentum, making it a stock to watch closely. The company’s strong performance in the credit card industry and positive market sentiment have contributed to its recent gains.

Market Performance and Technical Analysis

SBI Card’s share price has been on an upward trajectory, closing at ₹723.40 on August 30, 2024. The stock has shown a 0.31% increase over the previous closing price. The company’s 52-week high is ₹857.90, while the low is ₹649.00.

Technical indicators suggest that SBI Card’s stock is poised for further gains. The 20-day moving average crossover appeared yesterday, and historical data shows an average price decline of -3.0% within 7 days of this signal in the last 5 years.

Fundamental Analysis and Quarterly Results

SBI Card has delivered impressive quarterly results, which have contributed to its strong performance. In the quarter ended June 2024, the company reported a consolidated profit of ₹594.45 crore on a total income of ₹4,482.59 crore. For the year ended June 2024, SBI Card had posted a profit of ₹594.45 crore on a total income of ₹4,482.59 crore.

The company’s fundamentals remain strong, with a market capitalization of ₹68,009.77 crore and a price-to-earnings ratio of 28.22. SBI Card’s price-to-book ratio stands at 5.58, indicating that the stock is trading at a premium compared to its book value.

Adani Energy Solutions

As the market eagerly awaits the trading session on September 3, 2024, all eyes are on Adani Energy Solutions Ltd. (AENL). The company’s stock has been gaining significant traction, with a current share price of ₹1,065.65 on the NSE and ₹1,066.45 on the BSE. Investors are closely monitoring the stock’s performance, anticipating a continuation of the bullish momentum seen in recent weeks.

Technical Analysis and Key Levels

A technical analysis of AENL’s stock reveals several interesting insights. The stock’s 52-week high stands at ₹1,347.90, while the low is ₹686.90. This wide range suggests volatility, but the current upward trend is encouraging. The stock’s market capitalization of ₹1,26,351 crore further underscores its significance in the infrastructure sector.

Key support levels for AENL on September 3 are expected to be around ₹1,000, with resistance levels at ₹1,100 and ₹1,200. Crossing these resistance levels could propel the stock to new heights, potentially reaching its 52-week high or even surpassing it.

Fundamental Analysis and Quarterly Results

AENL’s recent quarterly results have been a mixed bag. While the company reported a 27.22% year-over-year increase in revenue, reaching ₹4,910.78 crore in Q4 2023-2024, its net profit decreased by 7.19% year-over-year to ₹361.44 crore. However, the company’s net profit margin saw a 9.29% quarterly improvement, indicating a positive trend.

Investors should closely monitor AENL’s upcoming quarterly results, as they will provide valuable insights into the company’s financial health and future prospects. The market’s reaction to these results will be a key factor in determining the stock’s short-term and long-term performance.

IndusInd Bank

As we look forward to September 3, 2024, the share price of IndusInd Bank is a topic of keen interest among investors. The bank’s stock has shown a modest upward trend recently, and many are eager to understand what might happen next. Currently, the share price is around ₹1,434.40, reflecting a slight increase of 0.65% as of September 2, 2024. This article explores the expectations for IndusInd Bank’s share price, focusing on market performance, technical analysis, and key factors influencing its movement.

Current Market Performance

IndusInd Bank has had a mixed performance in recent months. Over the last three months, the stock has seen a decline of approximately 1.62%. However, in the past week, it has shown a positive trend, gaining about 2.64%. This fluctuation indicates that while the bank faces challenges, there is also a growing confidence among investors.

Recent Trading Activity

On September 2, 2024, IndusInd Bank’s stock opened at ₹1,422.15 and closed at ₹1,434.40. The trading volume was significant, with nearly 2.8 million shares exchanged. This level of activity suggests a robust interest in the bank’s stock, which could be a precursor to further price movements.

Fundamental Analysis and Quarterly Results

Key Factors Influencing Stock Prices

Several factors are influencing the bullish trends in these stocks:

• Strong Quarterly Results: Companies like Adani Green Energy and Bajaj Finance have reported impressive quarterly results, boosting investor confidence.
• Market Sentiment: Positive market sentiment towards renewable energy and financial services is driving interest in these stocks.
• Government Policies: Supportive government policies for renewable energy are benefiting companies like Adani Green Energy.
• Technological Advancements: Innovations in financial services are enhancing the growth prospects for JIO Financial Services and SBI Cards.

Bearish and Bullish Trends

While the overall outlook is bullish, investors should remain cautious of potential bearish trends. Market corrections can occur, and it’s essential to monitor economic indicators and global market conditions.

Adani Power Share Price may go from 661 to 719 on September 3, know what is the confirmation

JIO Financial Services Share Price में 3 सितंबर को भी रह सकती तेजी, 353 तक का है टारगेट

Today Update News and Important Levels

As of September 2, 2024, the market is poised for a positive opening on September 3. Investors should look for key support and resistance levels for these stocks. For instance, AGEL’s support level is around ₹1800, while resistance is at ₹2000. Keeping track of these levels can help in making informed trading decisions.

Movement Causes and 52-Week High/Low

The movement in these stocks can be attributed to various factors:

• Economic Recovery: As the economy continues to recover, consumer spending is expected to rise, benefiting financial services and retail sectors.
• Renewable Energy Demand: The increasing focus on sustainability is driving demand for renewable energy, positively impacting companies like Adani Green Energy.
• Technological Innovations: Advancements in technology are creating new opportunities in the financial sector, particularly for digital payment solutions.

In conclusion, as we look ahead to September 3, 2024, keeping these stocks on your watchlist could be beneficial. The bullish momentum observed is supported by strong fundamentals, positive market sentiment, and favorable economic conditions. Investors should stay informed and ready to capitalize on potential opportunities in the market.