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The market is expected to remain rangebound and attempt to defend the previous day’s low amid elevated VIX levels. Below are some short-term trading ideas to consider.
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The market decisively needs to break the trading range of the May 15 session to establish a firm direction. Below are some short-term trading ideas to consider.
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Given the prevailing negative sentiment, the trend in benchmark indices is expected to favour bears in the upcoming sessions. Below are some trading ideas for the near term.
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Brigade Enterprises, Hindustan Petroleum Corporation, Cholamandalam Investment and Finance Company, Britannia Industries, and Whirlpool of India will also be in focus on August 30.
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Godrej Properties formed robust bullish candlestick pattern on the daily charts, with significantly higher volumes. The stock now traded above all key moving averages.
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Surya Roshni has broken out on the daily chart to close at highest level since October 2021. It has been forming bullish higher top higher bottom formation on the daily chart.
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IIFL Finance has made long bullish candlestick pattern on the daily charts with strong volumes, making higher high for fourth consecutive session. It has seen a breakout of horizontal resistance trend line adjoining multiple touchpoints - November 28, December 27, 2022, January 2, and January 13, 2023.
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Rising cases of Covid infection in several countries, fear of further tightening of key policy rates by the Federal Reserve, and a growth threat of recession-like situation pose challenges for markets around the world
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Federal Bank, ICICI Pru Life Insurance, Oberoi Realty among the stocks. With the Sensex and the Nifty reversing losses after the RBI decision, experts say the Nifty’s next stop could be 17,800. Banking and financial services, FMCG, IT, metal and pharma stocks supported the market.
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Trend of Action Construction Equipment is positive as it is trading above its important moving averages. Plus DI is trading above Minus DI while ADX line is placed above 25, indicating stock is likely to gather momentum in the coming days.
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"Schaeffler India is on the verge of breaking out from the last three months' price consolidation. Indicators and oscillators like RSI, DMI and MACD have been showing strength in the current upmove."
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Traders can look to trade with a positive bias and buy Reliance Industries in the range of Rs 2,460-2,450 for a potential target of Rs 2,600 in the near term. One should place a stop-loss below Rs 2,380 on long positions
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Investors should focus on the domestic economy-facing sectors like capital goods, infrastructure, real estate and banking. In the near term, they are betting on metals, IT and pharma
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Conflation of several factors such as improving sales, market share gains and rising real estate prices augurs well for listed real estate developers.
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Hot Stocks | Santosh Meena of Swastika Investmart feels Brigade Enterprises, Can Fin Homes, and JB Chemicals can give double-digit returns in short term
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Investors with a higher appetite for risk should only venture in this sector given that it is cyclical and the companies do carry some amount of leverage, said an expert
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Even management commentary gave the market a confident outlook to withstand businesses against the COVID spread and its impact.
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For the listed universe (around 2,500 companies), sales grew 0.7 percent YoY while profit grew 9.8 percent YoY, it said.
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There is consolidation on in the residential space, end-users will continue to gravitate towards affordable and mid-income housing launches of large, organised developers.
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A reduction in personal income tax will lead to higher consumption and will be positive for many sectors, especially autos and consumers, said experts.
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VK Vijaykumar of Geojit Financial Service feels the proposed AIF is better than the earlier one since this also includes projects referred to NCLT.
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Experts are positive on the market in the medium to long term, especially after recent government measures
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The Nifty may scale new highs if it sustains above 11,800, says Rupak De of Bonanza Portfolio
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Experts expect the rally to continue going forward, but volatility may increase as we are moving closer to state and general elections
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Ashwani Gujral of ashwanigujral.com is of the view that one can sell Raymond and Titan Company and can buy Biocon.
