Stock analysis is used by traders to make buy and sell call. It’s an approach to make informed decisions while investing in stocks. Stock analysis can be categorised into – fundamental analysis and technical analysis. Fundamental analysis is evaluation of data from sources, including financial records, economic reports, company assets, and market share. Analysts typically study the company’s financial statements – balance sheet, income statement, cash flow statement, and footnotes. These statements are made available to the investors in the form of quarterly earnings, disclosures to stock exchanges in compliance with the Securities and Exchange Board of India (Sebi) norms. In fundamental analysis, the analysts particularly check for a company's core income, income from other sources, profitability, guidance, assets and liabilities and debt ratio among other parameters. The other method, i.e. the technical analysis focuses purely on statistical data. It works on two assumptions; one, the stock price reflects the fundamentals. Second, the study of past and present movement in prices can help determine the future price trends. Technical analysis primarily deals with price, volume, demand and supply factors. This method is effective only when supply and demand forces influence the market. However, when outside factors are involved in a price movement, technical analysis may not be successful. More
BHEL continued to hit fresh multi-year highs and closed 4.7 percent higher at Rs 114.65, forming long bullish candlestick pattern on the daily scale with above average volumes. The stock continued its uptrend for yet another session.
Tata Communications climbed 4.6 percent to Rs 1,782 and formed strong bullish candlestick pattern on the daily timeframe with above average volumes. The stock sustained above all short-to-long term averages.
Overall, the outlook remains bullish, providing a buying opportunity during any dips.
Aegis Logistics rallied 7.6 percent to Rs 353 and formed robust bullish candlestick pattern on the daily charts with strong volumes. The stock closed above 50-day EMA (Rs 351) as well as 200-day EMA (Rs 338) in a single session after a consolidation breakout.
The Nifty is expected that the Nifty will likely continue to trade sideways, as long as it sustains within the range of 19,200 to 19,500, implying a range bound trades unless there is a directional breakout
the market remains bullish with resistance at 18,600-18,800 levels, though we have correction and consolidation at higher levels after the recent new swing high of the year, experts said
A falling wedge formation and an Inverse Head and Shoulder pattern have both broken out on DLF. We are able to clearly observe a Bullish Marubozu candlestick pattern on the weekly time period
BHEL shares gained more than 4 percent to close at Rs 78 and formed long bullish candle on the daily charts after two-day consolidation, with above average volumes. It traded above all key moving averages (9, 50, 100 and 200-day EMA - exponential moving average).
Max Financial Services jumped 3 percent to Rs 735.4 and formed long bullish candlestick pattern on the daily charts with above average volumes, with higher high higher low formation for third straight session. In fact, it has been in an uptrend after break out of long downward sloping resistance trend line adjoining September 20 and December 19, 2022, on January 3.
BHEL was seen to be giving a breakout on the daily timeframe after three years with above average volumes and the supertrend indicator is also indicating a bullish move which can be used as a confluence towards the bullish view.
According to experts, 18,450-18,500 is likely to be a crucial area for further upside. If the said zone sustains, then new highs are possible in the coming days, with support at 18,300, followed by 18,000 levels
Punjab National Bank shares rallied more than 5 percent on November 25 to Rs 53.6, their highest closing since February 14, 2020, and formed a bullish candle on the daily charts
Punjab National Bank shares have climbed 5 percent to Rs 43.3, their best closing since October 27, 2021, and formed a bullish candle on the daily charts but is it enough? Read on
TVS Motor Company was up 5 percent to end at record closing high of Rs 1,129 and formed strong bullish candle on the daily charts with above average volumes. On monthly basis, it has continued uptrend for ninth consecutive month, and formed decent bullish candlestick pattern on the monthly scale for seventh straight month.
Experts largely hope the index to remain in a broad range of 15,700-16,400 levels but if it decisively surpasses the upper band of the range, then there could be a possibility of the index moving towards 16,600-16,800 levels in the coming days
IOL Chemicals and Pharmaceuticals is poised for short-term breakout of Rs 440, hence any strong close above Rs 440 level may lead upside momentum towards Rs 480-510 levels.
Here's what Gaurav Sharma of Globe Capital Markets, recommends investors should do with these stocks when the market resumes trading today.
The key support levels to watch for in the short term are 17,531 (20-Day SMA) and 17,254 (3-Week Low), said Vidnyan Sawant of GEPL Capital,
Technical analysis signals good upside for BHEL, Can Fin Homes and Spencer's Retail in the next few weeks, while the broader market trend would depend on Nifty’s move above or below the range of 17,300 – 17,500
The Benchmark index has seen 5 DMA and 10 DMA bearish crossover formations which are supportive for the continuation of bearish price movement further.
At the same time the stock is trading above both moving averages which denote that prices are moving with a bullish bias in mid-term as well as in long-term.
For this week, the immediate levels can be seen around 14,400-14,550, whereas on the lower side, the cluster of supports can be seen at 14,300-14,150-14,000.
The majority of the oscillator indicators are placed in overbought zones suggesting some minor correction in the coming days.
Brokerages have a positive view on the stock with a target price of Rs 41 (upside potential of 74.5 percent) in medium to long term.
Mitesh Thakkar of miteshthakkar.com recommends buying BPCL with a stop loss of Rs 533 for target of Rs 570 and NCC with a stop loss of Rs 59 for target of Rs 65.