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
Over the next few days, the trend in the Nifty 50 index might remain sideways unless it breaks above the all-time high of 22,783.
Considering the overall chart structure, we maintain a bullish stance with specific targets set at 21,834 and 22,000 for the short to medium term.
The 18,350-18,400 levels are expected to act as a strong support zone and if held in the forthcoming week, the Nifty will start moving towards 19,000 levels, according to experts
IDBI Bank has been forming higher top higher bottom candlestick pattern on the weekly chart since July 2022. Momentum Indicators and oscillators are showing strength in the stock.
Godrej Industries has formed long bullish candle on the daily charts with healthy volumes. The stock has seen a breakout of downward sloping resistance trend line adjoining December 9 and December 21, 2022. Also there was a decisive breakout of horizontal resistance trend line adjoining multiple touch points - October 12, October 19, 2022, January 2, and January 5, 2023.
Shitij Gandhi of SMC Global Securities expects markets to consolidate at higher levels in coming sessions with bias likely to remain in favour of bulls. However traders should keep stock specific action on radar.
Intermediate trend remains positive for both Nifty and Bank Nifty. Longs should be protected with trailing stoploss of 17,900 in Nifty and 40,000 in the Bank Nifty, says Nandish Shah of HDFC Securities.
In the Options segment, we have seen Put writing at 17,400-17,500 levels. During the last correction, Nifty found support around that level and bounced back. This level also coincides with the 20-day EMA which is currently placed at 17,400 odd levels.
RSI plotted on the weekly and the daily timeframes can be seen forming a bearish hinge and is moving lower, indicating that the bears are in control of the trend.
Nifty should be held long with a stop loss of 14,700. Upside targets for Nifty are seen at 15,300 and 15,450.
At the same time majority of the momentum oscillators & indicators are in the overbought zone, hence the possibility of correction towards the line of polarity placed around 12,400 cannot be ruled out.
If Nifty trades lower than 11,540 on closing basis decisively, then we can expect the cut to get deeper till 11,311. Until then, Nifty is likely to pendulum between 11,540 and 11,760, said Manali Bhatia of Rudra Shares
Rate cut usually acts as a sentiment booster and aid companies that have to service large debts
We believe that as far Nifty is holding above 10,750 spot levels, the current trend is likely to move towards 11,100 levels in coming sessions.
Mitessh Thakkar of mitesshthakkar.com recommends selling HDFC Bank below Rs 2082 with stop loss of Rs 2096 and target of Rs 2055 and Hindustan Unilever below Rs 1730 with stop loss of Rs 1742 for target of Rs 1705.
Ashwani Gujral of ashwanigujral.com
Mitessh Thakkar of mitesshthakkar.com recommends buying Shriram Transport Finance with a stop loss of Rs 1050 and target of Rs 1098, Tech Mahindra with a stop loss of Rs 740 and target of Rs 774 and IndusInd Bank with a stop loss of Rs 1524 and target of Rs 1585.
It has been hovering around that zone for last one month after its failed attempts to sustain above the hurdle of 200 EMA on daily chart, says Jayant Manglik of Religare Broking
Breakdown below 10,700 would push Nifty towards 10,500. We advise traders to maintain positions on both sides and keeping leveraged positions hedged, says Jayant Manglik of Religare Broking.
Mitessh Thakkar of mitesshthakkar.com recommends buying Axis bank with a stop loss below Rs 638 for target of Rs 675, ICICI Bank with a stop loss of Rs 369.4 and target of Rs 400 and MCX India with a stop loss of Rs 733 and target of Rs 765.
Ashwani Gujral of ashwanigujral.com is of the view that one may sell Bharat Forge with a target Rs 480.
Mitessh Thakkar of mitesshthakkar.com recommends buying Ceat above Rs 1271 with stop loss of Rs 1255 for target of Rs 1300 and Godrej Industries with a stop loss of Rs 546 for target of Rs 565.
Sudarshan Sukhani of s2analytics.com suggests buying Maruti Suzuki with stop loss at Rs 7570 and target of Rs 7800, Century Textiles with stop loss at Rs 905 and target of Rs 965 and Cadila Healthcare with stop loss at Rs 354 and target of Rs 382.
Sudarshan Sukhani of s2analytics.com suggests buying Britannia Industries with stop loss at Rs 5700 and target of Rs 6300, Bank of Baroda with stop loss at Rs 110 and target of Rs 125 and Eicher Motors with stop loss at Rs 24000 and target of Rs 27500.
Ashwani Gujral of ashwanigujral.com suggests buying Ceat with a stop loss of Rs 1240, target of Rs 1285, ICICI Bank with a stop loss of Rs 355, target of Rs 372 and Larsen & Toubro with a stop loss of Rs 1375, target of Rs 1430.