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
Shabbir Kayyumi of Narnolia Financial Advisors maintained cautious view in this sharply lower trending market till some consolidation starts.
If the market starts to trade below 11,340 levels, Ashish Chaturmohta of Sanctum Wealth Management expects profit booking towards 11,200-11,170, which is a major support level
Ashwani Gujral of ashwanigujral.com suggests buying Bajaj Finserv with a stop loss of Rs 6900, target of Rs 7150, ACC with a stop loss of Rs 1500, target of Rs 1585 and Radico Khaitan with a stop loss of Rs 430, target of Rs 456.
Based on the aforementioned technical observations, we expect the stock to enter into a sustainable uptrend from here on and head towards target of Rs 11,450 over the medium term.
The bullish breakout above 10,930 has resulted in a conclusion of a five-month-long triangular pattern, signalling fresh upsides in coming weeks for Nifty
The rally getting bigger and relatively faster in magnitude signals a structural turnaround that augurs well for the next leg of the upmove towards 11,172, says Dharmesh Shah of ICICI Direct.com
Mitessh Thakkar of mitesshthakkar.com suggests buying Adani Power with a stop loss below Rs 20 and target of Rs 23.50, IndusInd Bank with a stop loss of Rs 1892 and target of Rs 1930 and Nestle India with a stop loss of Rs 10280 and target of Rs 11000.
“If the Nifty holds 10,929 levels, it can bounce towards 11,000-11,020 levels.For the uptrend to continue, 11,080 needs to be taken out decisively,” says Ashish Chaturmohta of Sanctum Wealth Management
Sudarshan Sukhani of s2analytics.com recommends selling Coal India with a stop loss at Rs 264 and target of Rs 255, DLF with a stop loss at Rs 181 and target of Rs 172 and Hindustan Zinc with a stop loss at Rs 272 and target of Rs 263.
After an over 400 points upmove in the last 9 sessions from its recent low of 10,558, the Nifty has currently entered overbought territory with a stochastic reading of 91 in the daily chart.
Mitessh Thakkar of mitesshthakkar.com is of the view that one may buy Bajaj Auto with a target of Rs 2980.
The market’s focus will increasingly shift to macros and earnings. India’s macros have weakened considerably in the past few months. It will have to likely contend with a weaker macro in CY18/FY19 versus CY17/FY18 given the likely higher inflation/interest rates and possibly higher current account deficit/weaker currency, Kotak Institutional Equities said in a recent note.
Top contrarian buy calls include Hero MotoCorp, Tech Mahindra, LIC Housing Finance, Hindustan Petroleum Corporation (HPCL) and NMDC.
Infosys and Nestle are being tracked by investors on Monday
Amit Gupta of ICICIdirect is of the view that one can buy Eicher Motors and SRF while Nestle India is likely to test Rs 8600.
Mitessh Thakkar of miteshthacker.com recommends buying Nestle India and Bata India.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell SREI Infra and can buy Nestle India.
Mitessh Thakkar of miteshthacker.com advises selling Arvind with a target of Rs 372.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy HPCL, Sun TV Network, Tata Consultancy Services and Bata India and can sell Canara Bank.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Zee Entertainment, PC Jeweller and Nestle India and sell Bharti Infratel and Tata Motors.
Tata Global, BHEL, and IRB Infra, among others, are on the radar of investors on Thursday.
Mitessh Thakkar of miteshthacker.com suggests buying Engineers India, Bank of Baroda, Jet Airways and Nestle India.
According to Technical Analyst Prakash Gaba of prakashgaba.com, looks like the Nifty is trying to test the 10094 mark. The crucial support for the index is at 10094 and the resistance is at 10260-10300. Bank Nifty has support at 25000-25100 and resistance at 26600.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his readings and outlook on market and specific stocks.
According to Shahina Mukadam, Independent Market Expert, one may hold Nestle India.