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
Experts advise traders to remain light from here on as the market is now approaching the final phases of the election.
JBM Auto has seen a decisive breakout of falling resistance trendline and formed robust bullish candlestick pattern on the daily charts with healthy volumes. The stock stayed above all key moving averages.
The market seems to have entered into consolidation mode with hurdle on the higher side at 21,593, the record high, and the support for the Nifty 50 on the lower side at 21,200-21,000 levels.
Oscillators have reached the overbought zone on the daily and weekly charts for the Nifty. However, unless important support breaks on the price charts, a trend reversal would not be confirmed
With decisively surpassing previous record highs and making higher highs, higher lows formation along with healthy volumes on daily charts last week, the Nifty50 is likely to march further northward with eyeing 20,400-20,500 zone.
For a further up-move, the index needs to close above a bearish gap created on September 21 in the 19,850-19,900 zone for a move towards the 20,000 mark, whereas on the lower side, the immediate support will be at 19,600, followed by 19,500, experts said
For an intermediate bullish trend to hold, Nifty has to sustain above the crucial support of 19,550.
Broad market indices like Nifty Midcap and Smallcap indices may continue to underperform for the coming few weeks before they resume their uptrend.
We expect their outperformance to continue for the coming weeks.
GSFC, the stock, has exhibited strong bullish momentum since it opened with a gap-up on April 26. It rallied 48 percent since April 21 this year.
GMR Airports has maintained a level above Rs 34 consistently since early October 2021, indicating significant strength despite a market correction.
On an intraday basis, GSFC hit a high of Rs 151.70, the highest level since December 16 last year, while if it closes above the Rs 150 level, then that would be the highest since September last year.
Finolex Cables has been forming higher tops and higher bottoms on the daily chart. It has registered fresh 6 months high with rising volumes.
Indoco Remedies has broken out from the consolidation with jump in volumes. It has also broken out from downward sloping trendline on the weekly charts.
"Schaeffler India is on the verge of breaking out from the last three months' price consolidation. Indicators and oscillators like RSI, DMI and MACD have been showing strength in the current upmove."
Stocks from sectors like PSU banks, metal and pharma should be kept on radar for generating trading gains, said Vinay Rajani of HDFC Securities
Prakash Gaba of prakashgaba.com recommends buying JSW Steel with target at Rs 298 and stop loss at Rs 289, Raymond with target at Rs 820 and stop loss at Rs 787 and L&T Finance Holdings with target at Rs 155 and stop loss at Rs 148.
Mitessh Thakkar of mitesshthakkar.com recommends buying Buy Engineers India with a stop loss of Rs 114 and target of Rs 125, GSFC with a stop loss of Rs 103 and target of Rs 1111 and Bharti Infratel with a stop loss of Rs 320 and target of Rs 342.
Ashwani Gujral of ashwanigujral.com recommends buying RBL Bank with a stop loss of Rs 588, target of Rs 610, Kotak Mahindra Bank with a stop loss of Rs 1260, target of Rs 1295 and HDFC Bank with a stop loss of Rs 2080, target of Rs 2140.
Ashwani Gujral of ashwanigujral.com recommends buying Sun TV with a stop loss of Rs 525, target of Rs 540, Petronet LNG with a stop loss of Rs 220, target of Rs 236 and Bata India with a stop loss of Rs 1145, target of Rs 1180.
Sudarshan Sukhani of s2analytics.com recommends buying UPL with stop loss at Rs 745 and target of Rs 770 and Titan Company with stop loss at Rs 906 and target of Rs 930.
We are expecting highly volatile ride in next week so it is better to stay away from trading for next 3-5 days, says Sumit Bilgaiyan of Equity99
We recommend buying the stock at CMP for the target of Rs 119, keeping stop loss at Rs 100 on closing basis, says Vinay Rajani of HDFC Securities.
Mitessh Thakkar of mitesshthakkar.com suggests buying Reliance Industries around Rs 1145 with stop loss of Rs 1130 for target of Rs 1180 and Apollo Hospitals around Rs 1215 with stop loss of Rs 1199 and target of Rs 1255.
Midcap and smallcap indices gained 7.3 percent and 6.3 percent, respectively.