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 Nifty is likely to maintain an upward rally towards 24,900-25,000, with immediate support at 24,600-24,500 levels. Here are some trading ideas for the near term.
Indian Hotels extended uptrend for third consecutive session after several days of consolidation. The stock has formed bullish candlestick pattern on the daily scale with above average volumes, and traded above all key moving averages.
Immediate support for the Nifty has now shifted up at 20,500 odd levels, while immediate resistances for the Nifty are seen at 20,743 and 21,193.
The Nifty is expected to continue its upward journey and to register fresh all-time high above 20,222 soon.
Till the time the Nifty does not surpass the 19,550 – 19,600 level on a closing basis, one should avoid being complacent and ideally, it’s better to avoid aggressive trades, according to experts
Birla Corporation shares rallied 7 percent to Rs 1,092, the highest closing level since September 20 last year and formed robust bullish candlestick pattern on the daily charts with significantly higher volumes. The stock has been making higher highs, higher lows for third consecutive session.
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
On September 30, India Cements and Granules India outdid the market and were the biggest gainers in the futures & options segment
Dr Lal PathLabs shares gained 1.7 percent to Rs 2,694.35, continuing uptrend for the seventh consecutive session. It has seen formation of bullish candle on the daily charts with higher high higher low formation for seven straight sessions, and has given a breakout of downward sloping resistance trend line adjoining April 8 and August 26.
Vedanta was the biggest gainer in the futures & options segment, climbing 10 percent to Rs 305.60. It has seen formation of bullish candlestick pattern on the daily charts with robust volumes.
Given the expiry week, there could be volatility with also focus on global cues. If the index fails to sustain Friday's low of 17,710 then we can see further selling pressure, experts said.
Bajaj Electricals shares rallied 6 percent to close at seven-month high of Rs 1,226.15 and has broken a long downward sloping resistance trend line (adjoining September 17, 2021 and August 8, 2022) with long bullish candlestick pattern formation along with strong volumes on the daily charts. Also it has given a Flag and Pole breakout on the daily charts, which is generally a positive indication.
The price configuration on daily chart depicts a bullish 'Cup and Handle' pattern in HDFC AMC, and since its backed by decent volumes, we recommend buying this stock for a trading target of Rs 235. The stop-loss can be placed at Rs 208.40.
Here's what Rajesh Palviya of Axis Securities recommends investors should do with these stocks when the market resumes trading today
The biggest beneficiaries would be the infrastructure segment, capital goods, real estate, railways, power, fintech, agriculture, defence and banks, say experts. One of them said the Budget will be negative for the entire PSU and PSU bank space since there were no major announcements on divestments.
Here's what Rajesh Palviya of Axis Securities recommends investors should do with these stocks when the market resumes trading today.
Here's what Rajesh Palviya of Axis Securities recommends investors should do with these stocks when the market resumes trading today
Here's what Mehul Kothari of Anand Rathi Shares & Stock Brokers, recommends investors should do with these stocks when the market resumes trading today.
Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when the market resumes trading today.
Going ahead, bias is on the positive side till the time Nifty is holding above 14,800
India VIX, after facing a stiff resistance near 25.50 levels, has closed below 22 levels, drifting six percent lower for almost two consecutive days.
The eastern market may come under severe pressure as the total capacity of around 8 MTPA is expected to be commissioned in 2021.
Markets may remain volatile in the coming week and traders should keep stock-specific action on the radar.
In the case of decline, Nifty will find support around 8,800 and then 8,500. On the higher side, the index will face an initial hurdle around its 50 days EMA placed around 9,450 level.
Entire bullish view negates on breaching of Handle on closing basis and one should exit from long position.