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 trend is likely to remain favourable for the bulls, but some consolidation can't be ruled out. Below are some short-term trading ideas to consider.
Given the weak sentiment, the market may extend its downward journey in the upcoming sessions. Below are some trading ideas for the near term.
In the near term, given the RSI at overbought zone levels and PCR (Put-Call ratio) reached 1.5 mark, the consolidation or some pull back can't be ruled out, experts said.
Coforge has formed robust bullish candlestick pattern on the daily scale with above average volumes. In fact, there was a consolidation breakout in previous session, and now the stock traded above all key moving averages, which is positive sign.
KPIT Technologies has demonstrated its ability to maintain a position above the crucial moving average, indicating an ongoing bullish trend.
Analysts say outlook remains bullish for KPIT Technologies, which stock price has experienced a strong upward movement after breaking out from the ascending triangle pattern at Rs 948
The stock also formed bullish candlestick pattern with long lower shadow on the monthly charts, indicating buying at lower levels, with continuing higher highs formation for fifth consecutive month.
KPIT Technologies is currently trading at its record high, this illustrates that the stock already is in strong momentum. The stock has already shown a breakout of the Cup & Handle pattern which indicated continuation of prior uptrend.
Kalyan Jewellers India also came back strong after recent consolidation, rising nearly 10 percent to Rs 119.5, and formed strong bullish candlestick pattern on the daily charts with robust volumes.
Godrej Consumer Products has seen a strong spurt in the last two trading sessions, backed by notable volumes on the daily chart, signifying positive development in the counter.
KPIT Technologies surged 9 percent to Rs 847 on the NSE and formed robust bullish candle on the daily charts with healthy trading volumes. The stock has recouped most of its losses seen since March 3, with trading above all key moving averages (9, 21, 50, 100 and 200-day EMA).
Atul Auto is trading at an all-time high, which demonstrates the strong upward momentum of the stock. After testing the neckline of a Rounding Bottom pattern, the stock experienced an upward bounce. The breakout occurred on October 10, 2022.
Mahindra CIE Automotive has a very profitable structure and has experienced a significant multi-month breakout over Rs 390. It has now resumed its ascent toward Rs 420 after retesting its earlier breakout mark of Rs 345.
KPIT Technologies shares rallied more than 6 percent to Rs 727 and formed long bullish candle on the daily charts with above average volumes. There was a breakout of long downward sloping resistance trend line adjoining January 10 and November 17 this year.
Tata Coffee shares rallied more than 4 percent to Rs 231, the highest closing level since September 15 and formed long bullish candle on the daily charts with healthy volumes.
KPIT Technologies after giving a breakout from the rounding bottom pattern in September 2022 indicated beginning of the trend on the upside.
CG Power prices after a breakout from double bottom pattern on July 2022 retested the neckline of the pattern and have shown a bounce on the upside, indicating continuation of prior uptrend.
Technical indicators are giving positive signals as Info Edge is trading above the 20 and 50 days SMA and there also recently a positive moving average crossover as the 20 days SMA moved above the 50 days SMA.
Tata Communications has consolidated and maintained a base near Rs 1,130 levels and has picked up momentum with a bullish candle pattern to imply strength. It has potential to carry on with positive bias in the coming days.
Brokerages see opportunities in companies including Star Health, Data Patterns, Cipla, Aditya Birla Capital and KPIT Technologies
Investors should focus on the domestic economy-facing sectors like capital goods, infrastructure, real estate and banking. In the near term, they are betting on metals, IT and pharma
The primary trend of Infosys is positive, as it is trading above its 200-day EMA. The price has corrected nearly 15 percent from high, which is a buying opportunity
Here's what Rajesh Palviya of Axis Securities recommends investors should do with these stocks when the market resumes trading today
We believe, the Nifty will be rangebound between 18,200 and 17,600, said Vidnyan Sawant of GEPL Capital
Here's what Gaurav Sharma of Globe Capital Markets, recommends investors should do with these stocks when the market resumes trading today.