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 amid range-bound trading may continue in the upcoming sessions due to a lack of triggers. Below are some short-term trading ideas to consider.
The market needs to surpass the previous day’s high for a further upmove; till then, it may see consolidation. Below are some short-term trading ideas to consider.
The market may see some more consolidation amid rangebound trading in the upcoming sessions. Below are some short-term trading ideas to consider.
The market is expected to continue its northward journey. Below are some trading ideas for the near term.
The benchmark Nifty 50 needs to break the rangebound trade to establish a firm direction for the January series starting on December 27. Below are some trading ideas for the near term.
The market is expected to attempt an upward movement amid likely consolidation. Below are some trading ideas for the near term.
The consolidation in the market is expected to continue, with a focus on stock-specific action amid the earnings season. Below are some trading ideas for the near term.
The Nifty 50 may rebound after this minor correction, although consolidation appears to be ongoing. Below are some trading ideas for the near term.
Brigade Enterprises, Hindustan Petroleum Corporation, Cholamandalam Investment and Finance Company, Britannia Industries, and Whirlpool of India will also be in focus on August 30.
Experts suggest that the immediate resistance is likely at 24,850 for the Nifty 50, followed by 24,950, while 24,500 is expected to act as crucial support for the current rally. Here are some trading ideas for the near term.
The Nifty 50 is likely to be rangebound with resistance at 23,100-23,200 and support at 22,800 in the coming sessions, while volatility is expected to be elevated ahead of the Lok Sabha election results.
It is advisable to consider buying opportunities at the current market price, targeting potential upside levels ranging from 22,783 to 23,170 on the Nifty.
The market exhibited an erratic pattern with small candles rising and larger candles falling, raising concerns for future trends.
The caution is advised as certain sectors appear to be overbought, potentially prompting profit-booking and impacting mid and small-cap equities.
Given the current chart structure, short-term volatility is anticipated. The recommendation is to consider buying Nifty 50 near the support zone of 21,550 – 21,500, targeting an upside potential ranging from 22,126 to 22,500 levels.
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.
Steel Authority of India continued making higher highs, higher lows formation for four days in a row. The stock has formed robust bullish candlestick pattern on the daily scale and traded well above all key moving averages.
With the recent upward journey, Hero MotoCorp went closer to its high of February 2021 (Rs 3,629). The stock formed strong bullish candlestick pattern with minute upper shadow on the daily scale with healthy volumes.
Poonawalla Fincorp continued its healthy uptrend for yet another session, and formed robust bullish candlestick pattern on the daily charts, with strong volumes, after breaking out falling resistance trendline.
Mahindra and Mahindra hit a record high and formed healthy bullish candlestick pattern on the daily scale with strong volumes after a consolidation breakout. The stock jumped 5 percent to Rs 1,549, while the stock surged 38 percent from March lows.
Triveni Engineering climbed 5.6 percent to Rs 293, December 22 last year, and formed robust bullish candlestick pattern on the daily scale, with above average volumes. The stock has seen a decisive breakout after a consolidation since the start of this calendar year.
The consistent uptrend in all five days of last week after forming a bottom around 17,550 in the previous week raised confidence among market participants
Hindustan Petroleum Corporation was one of the star performers, rising over 6 percent to Rs 244.5, the highest closing level since January 25 this year and formed robust bullish candle on the daily timeframe, with strong volumes. The stock traded well above all key moving averages (9, 21, 50, 100 and 200-day EMA - exponential moving average).
The 17,300 level is expected to act as a crucial support, followed by the recent swing low of 17,250 and, if the said levels get broken, then there could be correction up to the 17,000 mark
HPCL formed long bullish candle on the daily charts with strong volumes, making higher high higher low formation. The stock has seen a decisive breakout of horizontal resistance trend line adjoining September 13 and December 12, 2022.