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 trend is expected to remain in favour of the bulls, despite intermittent profit booking in the upcoming sessions. Below are some short-term trading ideas to consider.
The rangebound trade is expected to continue, with a focus on stock-specific action in the upcoming sessions. Below are some trading ideas for the near term.
Overall, the market trend is expected to remain positive despite occasional consolidation. Here are some trading ideas for the near term.
The Nifty 50 is likely to hit 24,100-24,200 at the start of the July series, provided it holds 24,000. However, failure to do so can drag it towards 23,800. Here are some trading ideas for the near term.
HDFC Bank has traded way below all key moving averages (20, 50, 100 and 200 EMA - exponential moving averages) due to single-day big fall, while the stock is 77 rupees away from the low of October 2023 (Rs 1,460).
AI is finding demand among various Indian companies for technology, sales, customer support and marketing. These stocks may gain from the artificial intelligence play.
Tata Communications shares rallied 8 percent to end at record closing high of Rs 1,598, surpassing previous all-time high on January 17, 2022. The stock has formed robust bullish candlestick pattern on the daily charts with significantly higher volumes.
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
Nifty, on a daily timeframe, is trading within a flag formation which is bounded in the range between 11,650 to 12,025 levels.
The worldwide concerns over the COVID-19, September expiry rollovers and growth worries kept the domestic market under pressure.
HDFC Securities maintained positive outlook on IT sector despite the sector recently re-rating to +2-standard deviations (SD) valuations.
The Sensex and Nifty rallied more than 9 percent each to scale new highs of 38,989.65 and 11,760.20 respectively in current week while the BSE Midcap index jumped over 8 percent and Smallcap climbed over 6 percent in two months.
One can buy OFSS at Rs 3970-3950 with stop loss of Rs 3750 for the target of Rs 4300-4350.
Ashwani Gujral of ashwanigujral.com recommends buying NCC with a stop loss of Rs 126, target of Rs 138 and Indraprastha Gas with a stop loss of Rs 300, target of Rs 315 while he advises selling IDBI Bank with a stop loss of Rs 76, target of Rs 68, Canara Bank with a stop loss of Rs 300, target of Rs 285 and Axis Bank with a stop loss of Rs 546, target of Rs 524.
Mitessh Thakkar of miteshthacker.com suggests buying Bharat Forge, NTPC, Oracle Financial Services Software and UPL.
Prakash Gaba of prakashgaba.com feels that Oracle Financial Services Software may test Rs 3600.
Technical Analyst Prakash Gaba of prakashgaba.com is of the view that crucial support for the Nifty is at 10028-9996 and the resistance is at 10138-10150. Bank Nifty on the other hand has support at 24800 and resistance at 25100.
According to Prakash Gaba of prakashgaba.com, support for Nifty is at 9600 and the Index has resistance at 9724 while Bank Nifty has support at 23350 and resistance at 23650.
Ashwani Gujral of ashwanigujral.com recommends buying Muthoot Finance and Reliance Industries and picks Yes Bank as a sell.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy HCC, Granules India and Power Grid and sell Oracle Financial Services.
VK Sharma, Head Of Business, Private Client Group of HDFC Securities is of the view that one can buy YES Bank 1500 Call and Eicher Motors 23500 Call.
Rakesh Bansal of RK Global is of the view that one may buy BEML with a target of Rs 1313 and NCC with a target of Rs 91.
Manas Jaiswal of manasjaiswal.com is of view that one can buy Oracle Financial Services and NCC.
In an interview to CNBC-TV18, Prakash Diwan of prakashdiwan.in shared his readings and outlook on specific stocks and sectors.
Sandeep Wagle of powermywealth.com is of the view that one can buy Oracle Financial Services Software and Vedanta and sell Bharti Infratel.