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
HDFC AMC recorded more than 3 percent gains to Rs 3,894.65, which is near the record closing high of Rs 3,903.85 of February 27 this year. The stock has formed bullish candlestick pattern on the daily charts with significantly higher volumes.
SBI Life Insurance Company ended at new closing high and formed strong bullish candlestick pattern with healthy volumes on the daily timeframe, after a decisive breakout of horizontal resistance trendline.
Experts expect the Nifty 50 to focus on 21,800-22,000 levels in coming weeks after ongoing consolidation, while taking support at 21,700-21,500 levels and advising buy on dips strategy
While momentum indicators signal overbought conditions in the market, the strong trend indicates inherent strength.
BSE formed bullish candlestick pattern with long upper shadow on the daily timeframe & robust volumes, which is a positive sign. The stock continued uptrend for fourth consecutive session and traded well above all key moving averages (20, 50, 100 and 200-day EMA).
Yes Bank has seen above average volumes for major part of sessions since the start of September month and also took a support at the long downward sloping resistance trendline, which is a positive sign.
Since the broader markets are overstretched, failing to clear the high might trigger some profit-booking. Traders should remain extremely stock-specific and follow strict stop-losses, advised experts
On the structural front, the Nifty50 index is buttressed by a robust support at 19,230, and a subsequent crucial floor at 18,887.
Finolex Cables shares climbed nearly 7 percent to Rs 1,075 and formed long bullish candlestick pattern on the daily charts, with above average volumes. The stock traded well abvoe all key moving averages.
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.
The momentum can take the Nifty50 towards 18,500-18,700 in coming sessions, if it sustains 18,200 mark which can be near term support, followed by 18,000 being crucial support, experts said
In the near term, the index is expected to take support at 17,600, which has been holding quite well on every closing in the past six consecutive sessions, with resistance at the 18,000-18,250 zone
The Adani group, other domestic events as well as international developments will have a bearing on the market this week
ITC has been in a strong uptrend since February last year and after a brief consolidation of 2 months, the stock looks ready for the next upmove.
Mahindra and Mahindra was the biggest gainer among Nifty50 stocks, climbing 3.6 percent to Rs 1,310 and formed healthy bullish candlestick pattern on the daily charts with above average volumes, with making higher high higher low formation for second straight session.
Stocks that were in action included Rain Industries which jumped 8.6 percent to Rs 191.35, the highest closing level since April 11, continuing uptrend for fourth consecutive session. The stock has formed bullish candle on the daily charts with significantly higher volumes
The cooling off of metal prices was the biggest driver for the sector. Metal forms the major portion of auto companies' operating expenses
After a recent low touched on June 20, the index has rallied nearly 11 percent and from March lows, it has risen more than 29 percent, which has been the highest among sectors. The rally has been on the back of a decline in metal prices, the key raw material used by the sector.
As long as the Nifty trades above 15,500, one should continue to trade with a positive bias and look for stock-specific buying opportunities during the week, says Ruchit Jain, of 5paisa.com
All automobile segments barring tractors and two-wheelers are expected to post strong year-on-year growth in June, largely on a low base in 2021 when India was battling a devastating second Covid wave
If the index shows any recovery, then there could be resistance around 15,400-15,500 area, whereas it could find support around 15,200-15,000 levels, and breaking of which could create some panic in the market, experts say
For Nifty, the immediate resistance is at 16,700 and 16,975 followed by 17,132. The downside support is at 16,370, 16,000 and 15,671 levels
Livelihood of almost 60 percent of the country’s population depends on agriculture
Look out for tractor outlook and capital allocation update in management commentary
The recent low of 15,671 is not far from the current levels now and the moment we slide below it, it will create a panic kind of situation in the market. Below this, 15,350-15,200 are the next levels to watch out for, says Sameet Chavan of Angel One