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
Finolex Cables was also in focus, rising nearly 7 percent to Rs 567.5, the biggest closing level since December 15, 2021 and formed healthy bullish candle on the daily charts with large volumes. Also there was a big breakout of nearly month long consolidation.
Nifty50 has formed a strong hurdle zone near 18,325 levels. If it trades below this level, there could be some more profit booking, said Rohit Singre of LKP Securities
For the Nifty, 14,350-14,250 will be the make or break range and on the higher side, 14,700 will be an immediate hurdle.
Gaurav Dua of Sharekhan expects double-digit returns in CY2021 through with some hurdles in the journey.
Banking index has taken support from its 200 DMA placed around 26,632 and trading higher. The immediate trading range of 27,300 on higher side and 26,500 on lower side remains intact.
Sudarshan Sukhani of s2analytics.com suggests buying Aurobindo Pharma with a stop loss at Rs 780 and target of Rs 810, Mindtree with stop loss at Rs 1150 and target of Rs 1200 and RBL Bank with stop loss at Rs 590 and target of Rs 620.
Here is the list of 10 stocks that can give up to percent 76 percent return over 12-15 months.
The Nifty50 has to surpass its previous peak of 10,480 on a closing basis for the momentum to sustain or to gather more strength.
"The stock has managed to surpass its long-term 200-DEMA which is placed around the Rs 180 mark. We expect it to make an attempt to rise towards its potential target of Rs 205 in the medium term," says Hadrien Mendonca, Senior Technical Analyst at IIFL.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 29 points or 0.28 percent. Nifty futures were trading around 10,497-level on the Singaporean Exchange.
Vijay Chopra of enochventures.com is of the view that one may buy Jet Airways with a target of Rs 835.
Axis Bank and Wipro, among others, are being tracked by investors on Wednesday.
Neeraj Deewan, Director of Quantum Securities advises buying Jindal Stainless Hisar.
Sameet Chavan of Angel Broking is of the view that one may buy Engineers India with a target of Rs 256.
Vijay Chopra of enochventures.com is of the view that one may buy Chennai Petroleum Corporation with a target of Rs 280.
Krish Subramanyam of Altamount Capital advises buying NCC with a target of Rs 78.9.