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
Market consolidation is expected to continue with the focus now shifting to the outcome of the US Federal Reserve meeting. Below are some short-term trading ideas to consider.
The market is expected to remain cautious and continue consolidating in the upcoming sessions. Below are some short-term trading ideas to consider.
The momentum is expected to sustain in the upcoming session, though some profit booking at higher levels cannot be ruled out. Below are some short-term trading ideas to consider.
Market sentiment is expected to remain positive. Below are some short-term trading ideas to consider.
The Nifty 50 is likely to continue its upward rally given the beginning of momentum and a fall in volatility. Below are some trading ideas for the near term.
The Nifty 50 is expected to consolidate with a positive bias as long as it defends the rising support trendline. Below are some trading ideas for the near term.
AI is finding demand among various Indian companies for technology, sales, customer support and marketing. These stocks may gain from the artificial intelligence play.
Crucial support for the Nifty50 is expected to remain at 18,800, the low of the last week, as beyond this point, it may slide down to 18,600-18,500. On the higher side, the immediate hurdle will be at 19,200-19,300, followed by 19,500
Persistent Systems has been one of the most resilient names as the IT index has been going through turmoil for almost 18 months. The stock has staged a breakout from ‘Cup and Handle’ pattern and is expected to head towards Rs 5,600-5,700
Eicher Motors has violated the crucial support of Rs 3,090 on closing basis. It took resistance at 200-day SMA in the recent pullback and resumed down trend.
The 17,300 level is expected to act as a crucial support, followed by the recent swing low of 17,250 and, if the said levels get broken, then there could be correction up to the 17,000 mark
Carborundum Universal took strong support at 20-month SMA and sustaining at 11-month high. This shows overall bullish undertone of the prices.
Mrs Bectors Food Specialities is currently trading at 52 week high which tells that the stock already is in strong momentum.
SAIL was up 1.5 percent at Rs 92.1, the highest closing level since May 5, 2022 and formed decent bullish candle on the daily charts with higher high higher low formation for second consecutive session. It has given a nice breakout of 'Mother Candle' formed on January 2 in previous session and maintained uptrend for yet another session, with strong volumes.
Looking at the ratio charts of Persistent against the Nifty IT index, we can spot the stock since mid-2019 has most of the time outperformed the benchmark. Persistent in the latest week has given a breakout from the double bottom pattern, indicating beginning of the trend to the upside.
According to experts, 18,450-18,500 is likely to be a crucial area for further upside. If the said zone sustains, then new highs are possible in the coming days, with support at 18,300, followed by 18,000 levels
Bharat Forge was in full swing, seeing a strong gap-up opening and rising 8 percent to settle at Rs 764, and formed a robust bullish candle on daily charts. The stock recouped most of recent losses in a single day run-up.
If the Nifty50 holds current levels and surpasses 17,200-17,300 in coming sessions, then 17,500 can be a possible target with crucial support at 17,000 followed by 16,800-16,750 levels
The Nifty has crossed some of its important hurdles and the next resistance levels of 16,700 and 16,800 would be keenly watched. The immediate support for the index is at 16,350 and 16,200
On the weekly timeframe, Persistent Systems gave a breakdown of double top pattern with high volumes. Post breakdown the down move was followed by strong volumes, indicating further down move.
Unless TTK Prestige is trading below Rs 815 or 50 day SMA, positional traders can retain an optimistic stance and look for a target of Rs 900-925. Fresh buying can be considered now and on dips if any between Rs 860 and Rs 845 levels with a stop-loss below Rs 815.
IT stocks had seen a sharp correction from highs before recent recovery. The Nifty IT index fell 18 odd percent during January 4-February 24 but has gained 10 percent since.
Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when the market resumes trading today.
Traders are advised to stay light on positions and even if the market attempts to recover, one should avoid aggressive longs till the time 17,700 is not surpassed, says Sameet Chavan of Angel One.
Here's what Rajesh Palviya of Axis Securities, recommends investors should do with these stocks when the market resumes trading today.