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
The consolidation is expected to continue until the Nifty 50 delivers a strong close above the midline of the Bollinger Bands. Below are some short-term trading ideas to consider.
The benchmark index is expected to be rangebound, with support at Wednesday's low. Below are some trading ideas for the near term.
It's advisable to consider buying opportunities at the support level, targeting potential upside levels ranging from 22,600 to 22,800, says Vidnyan Sawant.
Linde India formed strong bullish candlestick pattern on the daily charts with significantly higher volumes. The stock traded above all key moving averages and continued higher highs, higher lows formation for yet another session.
Linde India has seen a nice breakout of downward sloping resistance trendline adjoining highs of October 12, 2023 and February 19, 2024. The stock formed long bullish candlestick pattern on the daily charts with above average volumes.
As the market advances, it is advisable to focus on risk management and have a selective approach while looking out for thematic movers amidst the ongoing sectoral rotation, Sameet Chavan said.
Godfrey Phillips India continued its uptrend for the fifth consecutive session. Also, it has seen a V-shape recovery, with trading above all key moving averages (20, 50, 100 and 200-day EMA), which is a positive sign.
Given Nifty's overarching bullish tilt and its position adjacent to a strategic support zone, there lies a palpable potential of it rallying towards the 20,000 milestone, provided it surpasses the 19,800 resistance
Considering the present technical cues and prevailing market mood, a breach below 19,490 on the Nifty on a daily close could trigger a correction, possibly extending to 19,300.
Godfrey Phillips has experienced volume buying at the support level of Rs 1,700. This suggests that there is significant buying interest from market participants at this level.
Mahindra and Mahindra was the biggest gainer among Nifty50 stocks, climbing 3.6 percent to Rs 1,310 and formed healthy bullish candlestick pattern on the daily charts with above average volumes, with making higher high higher low formation for second straight session.
Bharat Forge was in focus, rising 4 percent to Rs 871.35 and from long bullish candle on the daily charts with above average volumes. The stock has seen a breakout of downward sloping resistance trend line adjoining multiple points - November 11, December 1, and December 5 this year.
Godfrey Phillips India was also in action, rising 7.5 percent to Rs 1,410.5, the highest closing level since January 27, 2020. It has seen formation of robust bullish candle on the daily charts, which engulfing previous day's red candle, with large volumes.
Genus Power Infrastructures has broken out from the symmetrical triangle on weekly charts with higher volumes. Stock price has also closed at all-time high level on the weekly basis. Primary trend of the stock is positive as it trades above its all important short-term and long-term moving averages
Thermax has been moving in a rational uptrend with higher highs and higher lows formation. Recently the stock took support at its 20 Day SMA (Rs 2,009) and broke out of a 3 months consolidation backed with good volumes.
Going ahead Malay Thakkar of GEPL Capital expects Gujarat Ambuja Exports to move higher towards Rs 310 followed by Rs 330 levels. A stop-loss of Rs 275 should be maintained on the downside for this setup.
There are multiple confirmations that the Nifty might have formed a very short-term top just above 12000, and support are seen near 11,740.
The S&P BSE Midcap index shed 1.31 percent, Smallcap Index was down 0.90 percent and S&P BSE Largecap Index fell 0.59 percent last week.
Ashwani Gujral of ashwanigujral.com recommends buying RBL Bank with a stop loss of Rs 670, target of Rs 692 and Amara Raja Batteries with a stop loss of Rs 678, target of Rs 700.
If the voters vote for a stable government then we expect reform momentum to continue which would further support earnings growth.
For next week, Nifty has strong support at 11,365-11,255 and resistance at 11,525-11,650 range, says Sumit Bilgaiyan
V-Guard Industries, Ajanta Pharma, Infosys and Titan Company among top names
The index witnessed a bearish candle on the weekly charts and going forward it would be difficult for the index to surpass 11000 levels convincingly in a hurry.
We recommend going long for a positional target of Rs.1020 in coming days. The stop loss can be placed at Rs.914.
Sudarshan Sukhani of s2analytics.com recommends buying Bata India with stop loss at Rs 1150 and target of Rs 1185, NIIT Tech with stop loss at Rs 1170 and target of Rs 1210 and RBL Bank with stop loss at Rs 568 and target of Rs 585.