Archive · 30 Jul 2026
Indian Stock Market Gains Amid Oil Price Surge
The Indian stock market went up a little on June 20, even though oil prices were high and there were worries about the US and Iran.
A big factory report said the economy was doing well.
A broker named Amol Athawale said the market could keep going up if it stays above certain price levels.
He also picked three companies – JSW Steel, Sun TV Network, and Max Financial Services – for people to buy for the next one or two weeks.
He gave each company a target price and a stop‑loss price to help traders decide when to buy or sell.
Sensex and Nifty 50 rose over 1% on June 20 despite rising oil prices and US‑Iran tensions.
Industrial output grew 7.3% YoY in June, a six‑month high, supporting market sentiment.
Kotak Securities’ Amol Athawale recommends buying JSW Steel, Sun TV Network, and Max Financial Services for 1‑2 weeks.
Athawale cites 20‑day SMA support at 24,100–24,150; index may advance to 24,400–24,500 if it stays above.
Target prices: JSW Steel ₹1,360, Sun TV Network ₹540, Max Financial Services ₹1,630 with respective stop‑losses.
- Who
- Amol Athawale, VP Technical Research at Kotak Securities
- What
- Recommends short‑term stock picks and market outlook
- When
- June 20, 2024
- Where
- Indian stock market (Sensex, Nifty 50)
- Why
- Strong industrial output and technical support levels suggest a bullish trend despite rising oil prices
- Market
- Sensex and Nifty 50
- Date
- June 20, 2024
- Key Support
- 24,100–24,150
- Target Index
- 24,400–24,500
- Stocks Recommended
- JSW Steel, Sun TV Network, Max Financial Services