Morgan Stanley expects Sensex earnings growth of 23 percent YoY in FY19 and 24 percent YoY in FY20.
A candlestick is formed with the help of opening, high, low and closing price of the day.
The Nifty midcap index is likely to enter a consolidation phase as it is seen holding 50% retracement of July-Augusts rally (13%) that would assist the index to form a higher base amid the stock specific action, says Dharmesh Shah of ICICI Direct.com Research
The Nifty50 after gap up opening above 11,300-mark rallied to hit an intraday high of 11,332.05, but wiped out all gains in last couple of hours of trade to break crucial support and hit day's low of 11,210.90.
These include names such as IOC, BPCL, Hero MotoCorp, Shree Cements, Ambuja Cements, Havells India, HPCL, ACC, Exide Industries, IGL, and Amara Raja Batteries.
The weekly RSI level at 57 has shown a positive price divergence while MACD indicates a likelihood of bullish crossover in the next few sessions, says Dinesh Rohira of 5nance.com.
The momentum indicator outlined a positive trend with weekly RSI inching at 58 levels. Further, in the coming session MACD is also likely to make a bullish crossover to trade above Signal-Line, says Dinesh Rohira of 5nance.com.
The RSI on chart stood at 35 levels while MACD trading below its Signal-Line, indicating selling regime, says Dinesh Rohira of 5nance.com.
The realty space is the biggest loser among sectoral indices as the Nifty Realty index dropped nearly 25 percent year-to-date against 7 percent upside in Nifty50.
Traders can buy the stock around current levels and further add on dips around Rs 1340-1345 with a stop loss below Rs 1300 for the target of Rs 1490, says Abhishek Mondal of Guiness Securities.
Traders can buy the stock in the range of Rs 675-678 with a stop loss below Rs 630 for the target of Rs 740, says Abhishek Mondal of Guiness Securities.
Traders can sell the stock at current level and add shorts on some technical bounce around Rs 1355-1360 with a stop loss above Rs 1378 for target of Rs 1295 and Rs 1280, says Abhishek Mondal of Guiness Securities.
Goldman Sachs, which was strategically overweight on India since March 2014, has turned slightly cautious towards Indian market in 2018 and lowered its investment view to marketweight from overweight earlier.
Upside for Nifty is expected to be capped on a short-term basis. We remain selective on specific stocks only and avoid aggressive long positions, says Dinesh Rohira of 5nance.com.
As per the options data, the support and resistance levels for Nifty has shifted lower compared to last week and the immediate support is seen around 11,200 and 11,000 levels whereas 11,500 will act as a strong hurdle in September expiry.
Mitessh Thakkar of mitesshthakkar.com recommends buying Biocon with a stop loss of Rs 663 and target of Rs 705 and advises selling Container Corporation of India with a stop loss of Rs 628 and target of Rs 585 and Oriental Bank of Commerce with a stop loss of Rs 75.1 and target of Rs 68.
The Nifty50 lost 98.90 points to close at 11,278.90. And also closed below its 50-DEMA which indicates that bears are holding the tight grip in the market, experts said.
For market to show strength sequence of lower highs and lower lows needs to be broken. Hence, 11,523 needs to be taken out first for market to see level of 11,600, says Ashish Chaturmohta of Sanctum Wealth Management
Credit Suisse in a report downgraded Bank of Baroda to underperform from outperform and reduced its target price to Rs 120 from Rs 184 earlier as synergy benefits in PSUs are difficult to extract.
Sudarshan Sukhani of s2analytics.com suggests selling Bharti Infratel with stop loss at Rs 270 and target of Rs 261, IRB Infra with stop loss at Rs 178 and target of Rs 168 and Jet Airways with stop loss at Rs 270 and target of Rs 255.
A 'Bearish Belt Hold' pattern is formed when the opening price becomes the highest point of the trading day (intraday high) and the index declines throughout the trading day making up for the large body.
In absence of any major cues, Indian market will be dependent on global cues this week as well as the movement of rupee against the US Dollar.
The stock is well placed above its 20, 50 and 100 day SMA which supports bullish sentiments ahead. It can be bought in the range of Rs 985-975, says Rajesh Palviya of Axis Securities.
The stock is well placed above its 20, 50 and 100-day SMA which supports bullish sentiments ahead. It can be bought in the range of Rs 735-730, says Rajesh Palviya of Axis Securities.
The stock is well placed above its 20, 50 and 100-day SMA which supports the bullish sentiments ahead. It can be bought in the range from Rs 230-225, says Rajesh Palviya of Axis Securities.