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
According to Abhijit Paul of alphative advisors, Cairn India may have a very strong support at Rs 290-300. "It has a short term target of Rs 335-340," he adds.
SP Tulsian of sptulsian.com is positive on the nonferrous metal space and cautious on ferrous metal stocks.
According to Jal Irani, Managing Director -Oil & Gas Research of Macquarie Group, Cairn India may test Rs 324. "It has been allowed to explore in the extremely profillic Rajasthan Barmer region and it is adding two rigs every quarter, which is far more important in the longer term," he adds.
SP Tulsian of sptulsian.com recommends buying Cairn India as the company doesn't have any kind of subsidy sharing burden.
According to Mayuresh Joshi, VP Institution of Angel Broking one should hold Cairn India and expects a target of Rs 356 over a year's period.
Here are your trading calls for the day:
According to Gaurav Ratnaparkhi of Sharekhan, one may buy Shree Renuka Sugars with a target of Rs 17.70 and Union Bank of India with a target of Rs 125.
According to Pritesh Mehta of IIFL, one may invest in Cairn India with a long term perspective. "The stock may rally to Rs 350 in 3-4 weeks," he adds.
Manas Jaiswal of manasjaiswal.com recommends buying Dish TV India with a target of Rs 52 and NMDC with target of Rs 120.
Nooresh Merani of AMSEC Research advices buying Tech Mahindra with a target price of Rs 1,200 and a stop loss at Rs 1,105.
According to Sudarshan Sukhani of s2analytics.com, one may buy Cairn India. "It has a target of Rs 320," he adds.
Rajesh Jain of SMC Global suggests buying Cairn India for a target of Rs 310 and IDBI Bank at current price for target price of Rs 78.
Sudarshan Sukhani of s2analytics.com is of the opinion that one may sell Cairn India as it had gapped down from a consolidation pattern suggesting more downside in the stock.
Sudarshan Sukhani of s2analytics.com advises to buy Exide Industries and sell Cairn India.
According to Amit Gupta of ICICI Direct, one can go short on Cairn India and go long on Oil and Natural Gas Corporation.
Sudarshan Sukhani of s2analytics.com says one can buy Cairn India futures and calls. "Cairn is more of a positional trade," he adds.
SP Tulsian of sptulsian.com says Apollo Hospitals Enterprises ruling close to around Rs 1000 looks a good buy because on Monday we have seen the late buying in the stock.
Sudarshan Sukhani of s2analytics.com recommended buying Godrej Industries and selling Cairn India.
Jagdish Malkani, Member NSE/ BSE feels ONGC is the better bet in oil space. Even Cairn India is a great buy at the moment, he adds.
Sudarshan Sukhani of s2analytics.com advises to sell Cairn India and Hero Motocorp at current levels.
Siddharth Bhamre of Angel Broking feels Cairn India is a good buy at current levels. According to him, the stock has good support around Rs 290-295.
Sudarshan Sukhani of s2analytics.com is of the view that traders can short sell Cairn India. It had a small trading range and it has broken down from there. That breakdown usually brings it lower. So there is some momentum on the downside, he adds.
According to Sudarshan Sukhani of s2analytics.com even if Cairn India takes one more day of correction today, it is a worth buying.
One can go long in Cairn India, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani, s2analytics.com advises to buy Cairn India at current levels.