Stocks in the hospitality and travel and tourism sectors, along with public-sector undertaking (PSU) stocks will remain in focus this week in the wake of the much-awaited 'Pran Pratishtha' ceremony for Shri Ram Lalla which is set to take place on Monday at Ayodhya's Ram Mandir in Uttar Pradesh.
Market experts say that Ayodhya will become a major spiritual tourism destination. The potential for tourism-related business is enormous and has attracted investors into hotel, travel and other tourism-related stocks. While appreciating the long-term potential of investment, investors should not go overboard chasing these stocks that have elevated prices, according to analysts.
From a technical standpoint, Nifty 50 experienced a sharp correction from the 22,124 level, subsequently rebounding from the 21,300 level. ‘’Sustaining above the 20-day moving average (20-DMA) at 21,700 is imperative for any meaningful recovery. Failure to do so may leave Nifty susceptible to further selling pressure within the 21,000–20,800 range,'' said Santosh Meena, Head of Research, Swastika Investmart Ltd. Read more:
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