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Overall, the trend continues to favour the bulls, although some consolidation may occur following a two-week rally. Below are some short-term trading ideas to consider.
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The benchmark indices are likely to be rangebound in the upcoming sessions. Below are some trading ideas for the near term.
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The market may try to rebound on the first day of the December series, but sustainability is the key factor to watch. Below are some trading ideas for the near term.
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Muhurat Trading Day: The market might rebound after a couple of days of weakness, but sustainability is the key to watch. Below are some trading ideas for the near term.
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Cummins India continued uptrend for second consecutive session. The stock has formed healthy bullish candlestick pattern on the daily scale with above average volumes and traded above all key moving averages.
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The short to medium term trend of the Nifty index looks corrective till 19,234 followed by 18,887 levels.
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Engineers India stock has experienced a consolidation breakout on the daily chart, indicating a potential shift in its price trend.
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There is a possibility of Nifty may test psychological 18,000 mark followed by 18,200 in coming sessions, with strong support at 17,800-17,650 area, and also if the index surpasses the downward sloping resistance trendline adjoining highs of December 1, 2022 (record high) and January 24, 2023, then more upward move may be on cards, experts said.
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The momentum could get concentrated to fewer stocks and sectors and hence, traders need to be very selective in stock picking for trading, expert advises
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Stocks that were in action included Sobha which surged 10 percent to Rs 641 and formed bullish candle on the daily charts with large volumes, sustaining uptrend for third straight session especially after formation of Morning Star kind of pattern on Tuesday (not exactly).
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IndusInd Bank is on the verge of a major breakdown from its previous multiple support zones. What is worrying is that the stock has seen rising volumes in the current downtrend, confirming the weakness.
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The prices have given a downward sloping trend line breakout on March 16 and have successfully closed above the same which confirmed the breakout in Grasim Industries.
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Experts expect some consolidation in the key indices and adjustments to continue in individual stocks. For the week ahead, in case of a consolidation, one should focus on stock-specific moves, which will provide excellent trading opportunities, they said.
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GNFC is in strong uptrend across all timeframes forming a series of higher tops and bottoms. The stock is well-placed above the 20, 50, 100 and 200-day SMA which reconfirmed bullish trend.
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Here's what Jayesh Bhanushali of IIFL Securities recommends investors should do with these stocks when the market resumes trading today
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Here's what Karan Pai of GEPL Capital, recommends investors should do with these stocks when the market resumes trading today
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Here's what Gaurav Sharma of Globe Capital Markets, recommends investors should do with these stocks when the market resumes trading today.
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Nifty is likely to find immediate resistance in the range of 14,700-14,750 where 5, 10 and 20-day exponential moving averages are placed. It could aim for 14,883-15,000 if it closes above 14,750.
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Immediate target for Nifty is seen at 15,470, which happens to be 161.8 percent retracement of the entire fall seen from January 2020 to March 2020.
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The sector was in focus in Union Budget 2021. Finance Minister Nirmala Sitharaman in her Budget speech announced an outlay of Rs 2,23,846 crore for health and well being.
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While midcap stocks tend to see more volatility versus Nifty50, over a longer term they tend to deliver stronger returns and this theme is expected to play out going ahead, Nirali Shah said.
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Gaurav Dua of Sharekhan expects double-digit returns in CY2021 through with some hurdles in the journey.
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The final/official list of large, mid and small-caps will be released by AMFI by the first week of January 2021, which will be effective for the February-to-July 2021 period.
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YES Bank, Adani Enterprises, PI Industries, Hind Aeronautics and Jubilant FoodWorks are the stocks that have a high probability of being included in the largecap category from the midcap category.
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The benchmark indices and broader markets have rallied more than 55 percent from the lows of March 23, though they have been some correction in the last few sessions.
