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Nifty is facing a lot of resilience around 22,400-500 levels for the past couple of days on an immediate basis. We need to witness a decisive close above 22,400-500 levels for further strength in Nifty or else reversal is likely from this resistance zone, says Tejas Shah
While pumps and allied space might appear to be an area related only to the agriculture sector, but the fact is it is a sector which is at the intersection of agriculture, technology, and environmental management. The challenges of water scarcity, climate change, and growing global food demands. These three things are going to ensure that over the coming decades the policy makers, which in this case is the government, give direct or indirect support to this sector. Another reason why this sector will remain in the focus area, increasing farmers income has been one of the focus of the policy area of the government. Now for all those who believe that increasing farmer income can be achieved in just a few years, should remember that agriculture as an area comes with many risks, including the weather, soil of that particular area and many other factors. That is why it will happen, but over a period of time. That is why this is for long term investors.
Samvardhana Motherson Intl Ltd surged 80% with strong momentum, eyeing Rs 160-175 target. Ascending Triangle breakout, RSI at 69.5. Derivatives expert suggests support at 110. Options chain analysis indicates strong support.
The Nifty50 and S&P BSE Sensex rose 0.7% and 0.8%, respectively, on Friday, gaining for the first time this week. But they lost about 1.6% over the holiday-shortened week. Meanwhile, numerous analysts have provided their technical perspectives on several stocks, identifying potential gains of up to 13% in the near term. Here's a compilation of 5 tech picks:
“Chambal Fertilisers has been trading with a positive bias for the last six months, after a breakout from a consolidation range in October 2023. Traders can buy for a target of Rs 430 in the next 1-2 months,” Ajit Mishra – SVP, Research, Religare ...
Indian benchmark indices opened the week significantly lower, mirroring Asian market losses. Investor sentiment weakened post Iran's retaliatory attack on Israel. BSE Sensex dropped 800 points. Market cap fell by Rs 5 lakh crore. Various Nifty sectors also experienced declines. With the onset of the results season, analysts said traders can adopt a thematic approach and may get trading opportunities on both sides of the market. In this setup, here are 7 stocks that you can consider buying for robust returns in short term:
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Corrections are opportunities for long term investors: 5 midcaps with right mix and upside potential of up to 46%For the next couple of weeks, what will dominate the narrative on the street would be the action and expectation from the US Fed and Iran’s attack on Israel and whether it escalates further or not. At a time when events where no one has any control are hitting the street, two things are most important, first, don't react in panic. Now panic is not only about selling because the news is negative, but also about buying just because stock prices have fallen from its recent high. It is time to remember that there is not even a single year in the last 25 years, when there has not been an issue which made it appear that the world is going to crumble. But the fact is good businesses have still grown, valuations have still risen and broader markets have moved higher. So, these geopolitical tensions are part of life only if one focuses on what one is investing into and puts more checks and balances so that one is able to bring in the element of margins of safety.
Market Trading Guide: HPCL, Sobha among 5 stocks recommendations for FridayIndian benchmark equity index Nifty50 closed at a record high on Wednesday, driven by gains in banking, energy, and IT stocks. The S&P BSE Sensex closed 0.47% higher at 75,038, while the NSE Nifty50 index ended above the 22,750 level. "Nifty is currently placed at the hurdle of around 22800 levels (ascending resistance trend line and 1.618% Fibonacci extension). Though, Nifty placed near the hurdle, still there is no sign of any reversal forming at the highs. Immediate support is at 22615 levels. A decisive move above 22800 levels is expected to open further upside momentum for the market ahead," said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities. Here are 5 stock recommendations for Friday:
As fundamentals stay strong, ignore short-term noises: Banking stocks with upside potential of more than 18%In the last four trading sessions, two private sector banks have seen significant development both related to their shareholding. First is the case where the news came out that FII’s have reduced their holding and in another case a private equity investor sold its stake through a block deal. After both announcements, the stock prices moved up sharply. A number of times in stocks, where there is big institutional holding, there are phases, where it is more of technical reason which keeps the performance down. Now, surprisingly, it is during this period that PSU banks stocks which have been doing extremely well for the last couple of quarters, witnessed some profit booking. In case there are a few more trading sessions where banks see a divergence in performance, one cannot rule that a narrative might come on the street, about how private sector banks are better than PSU banks. It would be better to ignore those noises.
A large opportunity but only for long term investors: 6 insurance stocks with potential upside of up to 17%While it should be done for every sector, for some sectors it is extremely important to make a distinction between the narrative which is making rounds on the street and what is happening in the real business. The reason, it is a narrative which is going on the street which makes expectations high and when they are not met then investors end up making the wrong decision both at the time of buying and selling. First, a large market size does not mean that players will see all the growth in the short term, it might be a long term play when it comes to overall growth of the markets. So, while insurance is a big opportunity, it will pan out over a period of time. Second, a number of times, the name of both life and non- life and health insurance companies is taken in the same breadth. But they are very different in every aspect and the stock price movement will also follow a different trajectory. So does the current phase of consolidation and underperformance of the stocks is an opportunity for investors looking for a real long term investment opportunity?
Technical picks: Bajaj Finserv, IRFC among 8 stocks that can rally up to 21% in short termThe NSE Nifty 50 and BSE Sensex gained about 0.8% last week, led by financials, posting the third straight weekly gain. Meanwhile, a host of analysts shared their tech views on several stocks, which may gain up to 21% in the near term. Here is a list of 6 tech picks from various analysts:
Stock Radar: HDFC Bank showing signs of bottoming out; traders should watch out for 1560 levels; here’s whyHDFC Bank climbed above crucial moving averages but 1560 will be an important level to track this week which also coincides with 200-DMA (placed at 1557) as well as option chain data suggesting the highest OI (open interest) concentration after 1500 CE. A decisive breakout above 1560 could lead to a short covering rally which could take the private sector lender beyond 1600 levels in the next 3-4 weeks, suggest experts.
Stock Radar: Time to buy? Cyient stock breaks out from falling trendline resistanceThe stock staged a smart bounce back after hitting a low above 1800 levels on 13th March. Since then, the stock has rallied more than 20% which suggests that bulls are here to stay. In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts, which is a positive sign for the bulls.
PNB Housing Finance’s shares jump 14% on CARE Ratings upgradesThe instruments in which the ratings have been revised upwards include long term bank facilities, long term/short term bank facilities, bonds, long term instruments, non convertible debentures (NCDs), tier II bonds, fixed deposits and commercial papers.
Stock Radar: NHPC likely to surpass 100 levels in the short term, says Vaishali ParekhCorrections are short term, focus on fundamental tailwinds: Banking stocks that may deliver more than 20% returnsWhy should the decision which traders take, should not be copied by investors? Simple, traders are looking to generate income from short term movement in stocks, whereas investors focus has to be generating wealth from long term trend in growth of business. But the fact is that short term narratives which are essentially governed by technical factors, tend to affect a lot of investors also and that is what leads to decisions which should have been avoided. In the last three weeks, not even one sector has been spared by bears, they were seen across the street. So, while traders should bother about the fact that what has happened to bank stocks in the short term, investors should focus on whether the health of the banks both in terms of NPA’s and credit growth has been better or not. If that answer is yes, which at this point of time it is then what is happening to bank nifty should not bother an investor.
Technical picks: Bajaj Finserv, LTIMindtree among 8 stocks that can rally up to 22% in short termIndia's blue-chip indices Nifty and Sensex surged marginally on Friday last week, led by auto, financial, and metal stocks. Meanwhile, a host of analysts shared their tech views on several stocks, which may gain up to 22% in the near term. Here is a list of 8 tech picks from various analysts:
Stock Radar: SRF breaks above downward sloping trendline on weekly charts; time to buy?SRF Ltd broke above downward sloping trendline resistance, hitting a record high in September 2022. In terms of price action, the stock found support above 2000 levels before rising over 4% in a week. The stock is now trading above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts. Short-term traders are advised to buy for a 2900 target.
Opportunity in short term headwinds? 4 AMC stocks with upside potential of up to 37%While there is always a talk about how many new demat accounts have been opened every few months. But how many folios have got added in the mutual fund industry is something which does not make it to headlines. What makes a headline is just the headwinds, about new rules and regulations or a new competition coming up. But in reality, this fact is that for mutual funds houses or AMC companies, these headwinds are very minor things to handle, because they have the biggest macro tailwind of financialisation of saving, a trend which got really strong post demonetisation. Let's look at the different headwinds and some narratives around them which the AMC industry has dealt with over many years and still come out strong.
Indian market consolidates with Nifty at 22118 levels. Positive stock setup seen. Options data indicates trading range. Expert recommendations from Pritesh Mehta, Kunal Bothra. India VIX down to 12.51 levels, suggesting reduced volatility.
An emerging headwind may provide opportunity for long-term investor; 5 Logistics companies with an upside potential of up to 35%When it comes to investing based on sectoral trends, it is important to keep eyes both on the tailwinds and headwinds. Why headwinds, because they sometimes end up providing opportunities for investors with long term perspective. Especially in times like today when bears are seen more often on the street. In the last two days there has been chatter that oil prices may further strengthen upward. While rising oil prices is a headache for the whole of the Indian economy, the fact is it has the highest co-relationship with a sector like logistics, where change at the pump level prices hit the margins very next day. Will the oil prices rise further in the months to come because if they are moving upward in the summer season where the demand is normally lower, then is it an indication that in winters things might even be higher? Whether the oil prices actually shoot up or not, it would become much later but one set of companies which will get impacted by narrative would be logistic companies. So, when the narrative makes them hit, should they be looked at with a long term investment perspective is the question which needs to be answered.
Among sectors, auto was the top performer while metal turned out to be the biggest dud. The S&P BSE Sensex settled at 72,101.69, higher by 89.64 points or 0.12%, the broader Nifty closed at 21,839.10, down by 21.65 points or 0.10%.
Indian headline indices saw sharp cuts with FMCG, IT, and energy sectors hit. Sensex closed at 72,012.05, lower by 736.37 points. Nifty ended at 21,817.45, down by 238.25 points. India VIX increased to 14.11.
Indian indices started low, with Sensex at 72,909 and Nifty at 22,096.50. India VIX rose to 13.81. Nifty is expected to revisit 21,900-21,850 zone with significant swings.
Short term correction don't dent the macro relationships: These bank stocks can give more than 20% returnsWhile a correction is taking place in the market and is visible in all segments of the markets. The question which needs to be asked is, why the correction is taking place. Is the reason any issue in global markets or local macroeconomic headwinds or is it just that valuations had seen a run up very sharply and now they are just correcting due to profit booking. At this point of time, the answer is the last one “ valuations”. But what about a sector where the valuations never were so high or a sector which has just seen a fundamental improvement in the operating matrix. Should that also see a correction? The fact when a broad based profit booking is happening than even the stocks and sector where are not in the over priced category will also see a correction. But probably those are the sectors which should be on the watchlist because when valuation readjustment is over, they might be the ones who would be leading the next round.
Short term headwinds are long term opportunities? 6 midcap cement stocks with upside potential of up to 34%In the last few days, there have been reports that cement prices have come down. This led to a sharp correction in the cement stocks. If one looks at the trend in cement prices, they have stayed first for the last eight months. There are a couple of points that one should look at before deciding to buy or sell both from the perspective of investing or even trading in cement space. The reason, a small dip in cement prices does not mean that the larger picture of the cement sector of having multiple tailwinds like increased demand due to focus on infrastructure and also better quality of balance sheet has changed.
Technical picks: Nelco, Havells among 5 stocks that can rally up to 11% in short termThe NSE Nifty 50 and BSE Sensex gained 0.69% and 0.51% last week, respectively, posting the fourth straight weekly gain, the best such streak in three months. The benchmarks gained about 3% each in four weeks. Meanwhile, a host of analysts shared their tech views on several stocks, which may gain up to 11% in the near term. Here is a list of 5 tech picks from various analysts:
Do short term headwinds provide a long term opportunity? 6 stocks from sugar sector with upside potential of up to 38%In a sector, where government policies have a major impact, the risk of any change in policy impacting the players is always present. That is the reason why the valuations of these stocks from such sectors don't cross a certain threshold. Probably the sugar sector tops the lists of such sectors and the reason is because both the central and state governments have some say in the policy making. Recently, there was a tweak in how much sugar cane juice can go for ethanol production and now a rise in fair remunerative price (FRP) which companies have to pay to farmers. In different states, it is called by different names, like state advised price or minimum support price also, however the reaction of the street was that all the sugar stocks tumbled. The fact is that in some states this price which sugar mills pay was hiked months back and that does not mean any negative impact. So, it has to be case by case rather than broad brush.
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