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A number of candidates who contested in the 42 Lok Sabha constituencies in West Bengal registered victories by massive margins. Trinamool Congress general secretary and Diamond Harbour candidate Abhishek Banerjee topped the list of nominees winning the election with a massive margin of over 7 lakh votes. Banerjee bagged 10,43,493 votes and defeated his nearest rival BJP's Abhijit Das (Bobby) by 7,10,930. TMC's Joynagar candidate Pratima Mondal, who bagged 8,94,312 votes, defeated BJP's Ashok Kandary by a massive margin of 4,70,219 votes, the poll body said. In Bolpur, TMC candidate Asit Kumar Mal defeated BJP's Piya Saha by a margin of 3,27,253 votes, according to figures released by the Election Commission. Mal got 8,55,633 votes while Saha managed 5,28,380, it added. In Uluberia, TMC's Sajda Ahmed got 7,24,622 votes and defeated BJP's Arunuday Paul Chowdhury by 2,18,673 votes, the EC stated. In Bardhaman Purba seat, TMC candidate Sharmila Sarkar bagged 7,20,302 votes and defeated Asim Kumar Sarkar of BJP by a margin of 1,60,572. TMC Bardhaman-Durgapur candidate Kirti Azad defeated BJP's former West Bengal candidate Dilip Ghosh by 1,37,981 votes. The former cricketer got 7,20,667 votes while Ghosh logged 5,82,686. Trinamool Congress' Jangipur candidate Khalilur Rahaman bagged 5,44,427 and defeated his nearest rival Murtoja Hossain Bokul of the Congress by 1,16,637 votes, the EC website said.

Tata Motors on Tuesday said its board has approved to set up a wholly-owned subsidiary to house commercial vehicles business. The company has proposed the name of the new unit as TML Commercial Vehicles Ltd (TMLCVL). The entity is proposed to be a wholly-owned subsidiary of the company, Tata Motors said in a regulatory filing. In March this year, Tata Motors announced the demerger of its commercial and passenger vehicle segments into two separate listed entities to better capitalise on growth opportunities. As part of the initiative, the CV business and its related investments would be housed in one entity, while the passenger vehicle business, including electric vehicles, Jaguar Land Rover and its related investments, will come under a separate listed entity.

The Indian market witnessed the biggest single day fall in over 4 years on Tuesday as the actual election results significantly deviated from the exit polls as well as expectations of market participants.The S&P BSE Sensex plunged over 4000 points while the Nifty50 closed below 22,000 to record its biggest single-session fall in over 4 years.The Nifty Midcap and Nifty Smallcap indices marked their biggest-ever fall in absolute terms while Nifty Bank was down nearly 8%.Sectorally, some buying was seen in FMCG space while selling was visible in public sector, infrastructure and CPSE indices, which were down by over 15% each.Stocks that were in focus on Tuesday include names like Tata Technologies which was down over 2% to hit a fresh 52-week low, Blue Star and Suzlon pared gains after hitting fresh 52-week highs on Tuesday.We have collated a list of three stocks that either hit a fresh 52-week high, or an all-time high or saw a volume or a price breakout.We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view. Here’s what analyst Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, had to say:Tata TechnologiesThe counter is in a downward trend, and it is continuously forming lower-lows and lower-highs formation on the daily chart. The overall structure is distorted as it trades below its all-important moving averages.On the upside, 1,150 is an immediate susceptible area. Above this, we can expect a run-up towards 1,200+ levels in the near term while Rs 950 is psychological level or it may act as an immediate demand zone in the shorter timeframe.Target– Please avoid at current level. Fresh buys initiate only above Rs 1,150Stop Loss – 950Blue StarThe counter has a strong bullish setup, where it is forming a rising channel formation on the daily timeframe. This pattern is characterised by a series of higher highs and higher lows, indicating increasing buying pressure.It has retested its previous breakout level of Rs 1,480. The high volume during the breakout further reinforces the significance of this move. The overall structure of the counter is very lucrative, as it is trading above all its important moving averages.The momentum indicator RSI (relative strength index) is also positively poised, whereas MACD (moving average convergence divergence) is supporting the current strength.On the upside, 1,700 is a susceptible area; above this, we can expect a run-up towards 1,900 levels in the near term. On the downside, Rs 1,350 is major support for any correction.Target – 1900+Stop Loss – 1350SuzlonThe counter has witnessed a breakout of Triangle formation on the daily chart. After a breakout of the Inverse Head & Shoulder, it has retested its previous breakout level at around Rs 42.The overall structure of the counter looks very lucrative on the chart. But from the higher levels, it showed some profit booking. Moving averages & momentum indicators are also supporting the trend.On the upside, 52 is an immediate resistance area; above this, we can expect a run-up towards 56 levels in the near term.On the downside, a cluster of moving averages forming the base at around the Rs. 42 level acts as major support.Target – 56Stop Loss – 42(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Nifty ended Tuesday’s session 6% lower at 21,884.50 to form a long bearish candle on the daily chart and also ended below short-term and medium-term averages.For traders now, 50-day SMA or 22,400/73,500 and 22,500/74,000 would be the key resistance areas while 21,600-21,300/71,000-70,200 would act as key intraday support zones. “We are of the view that the current market texture is extremely volatile and uncertain; hence, it is advisable that traders should remain cautious for next few trading sessions,” said Shrikant Chouhan, Head of Equity Research, Kotak Securities.What should traders do? Here’s what analysts said:Jatin Gedia, SharekhanNifty has decisively broken down below the previous swing low of 21,820, which has violated the higher-top and higher-bottom formations and suggests change in short-term trend. Our primary outlook is that Nifty shall now retrace the rise it has witnessed from 18,840 to 23,340 between October 2023 and May 2024. The crucial support levels to keep handy are 21,100, which is the 200-day moving average and 50% Fibonacci retracement level of the entire up move. A close below this support zone can lead to further decline towards 20,560, which is the 61.82% Fibonacci retracement level. On the upside, 22,310 – 22,550 shall act as an immediate hurdle from a short-term perspective. The range of consolidation is likely to be 21,000 – 22,500.Tejas Shah, JM Financial & BlinkXNifty closed below the crucial support zone of 22,400-500 (50-day EMA) in Tuesday’s trading session, which is not a healthy sign. Technically, the evidence continues to suggest that the markets are likely to remain under pressure in the near term. Presently, Nifty is finding support around the 200-day exponential moving average, which is currently placed at 21,250 levels. Support for Nifty is now seen at 21,750-800 and 21,250-300 levels. On the higher side, immediate resistance is at 22,300 levels and the next crucial resistance is at 22,500 mark.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)