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
Nooresh Merani of AMSEC Research advised selling Titan Industries for a target price of Rs 250 and buying United Phosphorous for a target price of Rs 135.
According to Prakash Diwan of Altamount Capital Management, one may exit Canara Bank and advises buying ICICI Bank if one is to remain within the banking space.
Shahina Mukadam of Varun Capital recommends buying Titan Industries with a target of Rs 297 and advises selling Canara Bank.
Nooresh Merani of AMSEC Research advised buying Dabur India with a target price of Rs 166 and Tech Mahindra with a target price of Rs 1300.
Yesterday Canara Bank witnessed good buying interest from lower levels and oscillators are showing positive crossover on the daily chart. This stock can test Rs 290 in next two-three trading sessions. One can buy the stock at current levels with a stop loss of Rs 260, says Manas Jaiswal of manasjaiswal.com.
According to Sudarshan Sukhani, s2analytics.com one may sell Canara Bank.
Sudarshan Sukhani of s2analytics.com is of the view that one can short Canara Bank and Union Bank.
Sudarshan Sukhani of s2analytics.com advises to buy Bharti Airtel and sell Canara Bank.
Lancelot D Cunha of Sharyans Wealth Management recommends buying Peninsula Land with a target of Rs 45.90 and stop loss of Rs 40.30 and also advises to buy Canara Bank with a target of Rs 392.
Aashish Tater of Fortunewizard.com advised going long on JM Financial with a target price of Rs 29 and going short on HDIL with a target price of Rs 39.5.
Sudarshan Sukhani of s2analytics.com stated that PSU Banks offer selling opportunities, two banks are UCO Bank as well as Canara Bank, both on the short side.
Sudarshan Sukhani of s2analytics.com expects Canara Bank and UCO Bank to rally.
According to SP Tulsian of sptulsian.com, United Breweries ruling at Rs 670 looks a good buy because the stock has seen a good amount of corrections having taken place in this last 2-3 days.
Parag Doctor of Keynote Capital recommends buying Aurobindo Pharma, Bata India, while keeps sell rating on Canara Bank and Indiabulls Real Estate.
Shardul Kulkarni of Angel Broking feels that Canara Bank is one of the shorting candidate. The stock is expected to decline towards Rs 380-375 mark. One can keep a stop loss of Rs 420, he said.
SP Tulsian of sptulsian.com advises to buy Canara Bank and short Tata Steel at current levels.
Saurabh Mittal of Swadeshi Capital suggests buying Havells India with a price target of Rs 740 and Canara Bank with a target price of Rs 449.
SP Tulsian of sptulsian.com advised buying Pidilite Industries with a target price of Rs 303 while Saurabh Mittal of Swadeshi Capital says one can buy Havells India with a target price of Rs 740.
Monal Desai of Sunidhi Securities advises to buy Canara Bank for a target of Rs 450. "Keep a stoploss at Rs 420 on the stock, " he adds.
Shardul Kulkarni of Angel Broking is of the view that, Canara Bank is looking good to short at current levels. The stock may decline towards the level of Rs 390-385.
Sudarshan Sukhani of s2analytics.com feels that Oriental Bank of Commerce, Canara Bank, State Bank of India may see upmove.
Parag Doctor of Keynote Capital is bearish on Canara Bank, Reliance Comm, Reliance Power and has recommended sell rating on the stocks. However, he remains bullish on Jubilant Foodworks.
SP Tulsian, sptulsian.com recommends to sell Adani Enterprises, Reliance Power and United Phosphorous, while suggest to buy RCF.
According to SP Tulsian of sptulsian.com one can short the metal stocks like JSW Steel, Jindal Steel and Power (JSPL), Tata Steel and Steel Authority of India.
HDFC has clearly become a short selling candidate because the highs that it made on the back of news have not been sustained and that is fairly bearish, says Sudarshan Sukhani of s2analytics.com.