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
Sumit Bilgaiyan of Equity99 believes the fortnightly high-low will act as strong support and resistance for market
Mitessh Thakkar of mitesshthakkar.com suggests buying Balrampur Chini with a stop loss of Rs 76 and target of Rs 81, Bosch with a stop loss of Rs 20,900 and target of Rs 22,000 and Cadila Heathcare with a stop loss of Rs 412 and target of Rs 445.
Sudarshan Sukhani of s2analytics.com suggests buying Vedanta with a stop loss at Rs 225 and target of Rs 236, United Breweries with a stop loss at Rs 1300 and target of Rs 1360 and Divis Laboratories with a stop loss at Rs 1260 and target of Rs 1320.
Rajesh Agarwal of AUM Capital recommends buying Karnataka Bank with stop loss at Rs 117 and target of Rs 124, GM Breweries with stop loss at Rs 740 and target of Rs 788 and Amara Raja Batteries with stop loss at Rs 875 and target of Rs 914.
As long as the Nifty holds above 11,260 levels, Ashish Chaturmohta of Sanctum Wealth Management expects the index to head towards 11,470 levels
The rally which pushed Sensex to record highs was just handful of largecap stocks while most well-known stocks in the broader market were hitting 52-weeks low.
The momentum oscillator, relative strength index (RSI) has entered in a bullish crossover and currently staying above the 60 mark.
Traders can accumulate the stock in the range of Rs 1,110-1,125 for the target of Rs 1,234 with a stop loss below Rs 1,064, says Achin Goel of Bonanza Portfolio.
Mitesh Thacker of miteshthakkar.com suggests buying Havells India with a stop loss of Rs 556 and target of Rs 585 and Reliance Industries with a stop loss of Rs 1014 and target of Rs 1090.
Rajesh Agarwal of AUM Capital recommends buying Divi's Laboratories with stop loss at Rs 1090 and target of Rs 1157, Reliance Industries with stop loss at Rs 1018 and target of Rs 1060 and Hindustan Unilever with stop loss at Rs 1690 and target of Rs 1749.
Mitessh Thakkar of mitesshthakkar.com recommends buying Exide Industries with a stop loss of Rs 264.9 and target of Rs 280, RBL Bank with a stop loss of Rs 570 and target of Rs 600 and HCL Tech with a stop loss of Rs 949 and target of Rs 985.
Traders can buy the stock in the range of Rs 1,080-1,090 with a stop loss below Rs 1,030 for a target of Rs 1,160, says Abhishek Mondal of Guiness Securities.
"10,929 will act as strong resistance and only a weekly close above this level will negate the bearish candle. On the flip side, 10,710 will act as immediate support, followed by 10,620," says Aditya Agarwal of Way2Wealth Brokers.
"Traders can sell the stock after some technical bounce back around Rs 1,100-1,110 with a stop loss above Rs 1,138 for a target of Rs 1,040," says Abhishek Mondal of Guiness Securities.
As per the options data, the support level for Nifty has shifted lower in the May expiry compared to last week.
Rajesh Agarwal of AUM Capital recommends buying Indraprastha Gas with stop loss at Rs 256 and target at Rs 276, a buy in Motherson Sumi Systems with stop loss at Rs 313 and target at Rs 333 and a buy also in ICICI Prudential Life Insurance with stop loss at Rs 398 and target at Rs 423.
Divis Laboratories, Crompton Greaves Consumer Electricals, Indian Hotels, Pfizer and Bombay Dyeing could give up to 16% return in the short term
"The immediate support is seen around 10,451 (100DMA) and 10,400 levels. According to daily Pivot charts, the key support level is placed at 10,509, followed by 10,470. If the index starts moving upwards, key resistance levels to watch out for are 10,574 and 10,600," says Abhishek Mondal, Research Analyst at Guiness Securities.
The stock is forming a “Cup and Handle” pattern on the weekly charts, which is bullish in nature. Although, the stock has not given the pattern breakout its consolidation shows that decent upside can be expected from current level, says SMC Global.
Traders need to keep a close eye how the market behaves during the first half of the forthcoming week. Ideally, at present, traders need to be prepared for both possibilities; a small relief rally or a continuation of the ongoing down move.
Mitessh Thakkar of miteshthacker.com is of the view that one can buy Exide Industries and can sell Karnataka Bank.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy HDFC Bank, Maruti Suzuki and Divi's Lab and can sell Tata Steel.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Wipro, Divis Labs, HDFC Bank, Bajaj Finserv and LIC Housing and can sell Cummins India and Engineers India.
Overall, we expect markets to consolidate between broad range of 10,240-10,520 levels for few sessions before giving any fresh breakout on either side.