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 market is expected to remain rangebound until the frontline indices reclaim and sustain above last week's high. Below are some short-term trading ideas to consider.
The consolidation is expected to continue, with benchmark indices likely finding support at the 50-day EMA. Below are some short-term trading ideas to consider.
The market is expected to remain rangebound and attempt to defend the previous day’s low amid elevated VIX levels. Below are some short-term trading ideas to consider.
The market is expected to be volatile and rangebound in the upcoming sessions, supported by an upward-sloping trendline. Below are some trading ideas for the near term.
The 23,000 level is expected to play a key role in the Nifty's further direction, and sustaining this level can take the index towards the upper band of the Rising Channel (i.e., 23,100-23,200), followed by 23,500, with support at 22,800.
The overall market structure remains bullish as long as Bank Nifty remains above the 46,300 mark.
The Nifty is likely to continue its march upwards amid consolidation with hurdle at 19,500-19,600 levels, whereas the near term support is expected to be 19,300-19,200 levels, followed by crucial support at 19,000, experts said
Rashtriya Chemicals and Fertilisers which rallied nearly 5 percent to Rs 112.4 and formed bullish candle which to some extent resembles bullish engulfing kind of pattern on the daily charts after taking support at around Rs 105 or 200-day EMA (exponential moving average).
Chambal Fertilisers and Chemicals after the short correction has bottomed out near Rs 287 zone and indicated a decent pullback with a big bullish candle pattern on the daily chart to improve the bias. It is moving past the significant 50EMA level of Rs 306 zone anticipating for further upward move in the coming sessions.
Grindwell Norton rose 2.6 percent to Rs 1,894 and formed bullish candle with making higher high higher low for third consecutive session. Also the stock has seen a breakout of downward sloping resistance trend line adjoining December 19, December 21, 2022 and January 3, 2023.
Usha Martin has witnessed a breakout of a symmetrical triangle formation on the daily chart with huge volume. It is trading in a new blue sky zone, and its structure is very impressive, as it is trading above all its important moving averages.
RCF is at 52-week high level indicating strong price momentum and room to move higher. The stock has given a multi-year breakout which points towards the beginning of a fresh trend on the upside.
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.
Rashtriya Chemicals and Fertilisers has formed Bullish Engulfing candlestick pattern on the daily charts. Stock found support on the upward sloping trend line on the daily chart and reversed north.
After a medium term correction, on last Thursday, CARE Ratings bounced back sharply, rallied over 3 percent. However, in this month so far, it is corrected over 11 percent.
Traders should trade with a positive bias and look to buy Ipca Labs in the range of Rs 1,060-1,050 for a potential target of Rs 1,130 in the short term. One should place a stop-loss below Rs 1,020 on the positions.
FM Nirmala Sitharaman on May 15 announced 11 measures to boost the sector, ranging from the amendment of Essential Commodities Act to a Rs 1 lakh crore fund to boost agriculture infrastructure.
One could be long on Nifty with the stop loss of 11,500. A breach above 11,761, could push Nifty towards targets 12,000 and 12,430
Ashwani Gujral of ashwanigujral.com is of the view that Jubilant Food is likely to rally to Rs 2,350 while NIIT Technologies may test Rs 700.
Ashwani Gujral of ashwanigujral.com recommends buying GMR Infra with a stop loss of Rs 20, target of Rs 27 and sell Capital First with a stop loss of Rs 860, target of Rs 800.
Ashwani Gujral of ashwanigujral.com recommends buying ICICI Prudential, Reliance Capital, RCF, PC Jeweller, Indiabulls Housing and CESC.
At this juncture, 10400 will act as an immediate support for the index and any break below this level will trigger a fresh sell-off. In that case, Nifty may correct towards 10330-10270 levels respectively.
Mitessh Thakkar of miteshthacker.com is of the view that one can buy Cummins India and RCF and can hold Reliance Industries.
Rajat Bose of rajatkbose.com is of the view that one may hold Rashtriya Chemicals and Fertilisers.
Ashwani Gujral of ashwanigujral.com recommends buying PVR, Indiabull Real Estate, Ashok Leyland, RCF and Shipping Corporation.