Atish Matlawala of SSJ Finance & Securities said that rate cut will benefit banks as they will be able to bring down the cost of funds and pass on the benefit to the borrowers
While State Bank of India gave a strong close at an all-time high, other banks such as Canara Bank, Union Bank, Syndicate Bank and Oriental Bank were a few others that formed bullish patterns over the last week
Early trends put NDA in a comfortable position to form the government that has, to an extent, already been factored by the market after exit polls
India VIX jumped 8.3 percent to close at 25.65. We expect volatility to continue in the market this week with election results on May 23
Dips should be bought into, and good quality midcaps should be accumulated from the current levels; however, the upside target for Nifty is seen at 12,430 levels.
Global volatility and elections-related uncertainties are key events to watch out for
Around 134 out of 776 smallcap stocks closed in the green and out of which top 10 stocks rallied between 8 percent and 33 percent
Sudarshan Sukhani of s2analytics.com recommends buying Mahindra & Mahindra with stop loss at Rs 660 and target of Rs 675, Divis Labs with stop loss at Rs 1698 and target of Rs 1730 and United Spirits with stop loss at Rs 536 and target of Rs 565.
Rate cut usually acts as a sentiment booster and aid companies that have to service large debts
Sudarshan Sukhani of s2analytics.com recommends buying Tata Consultancy Services with stop loss at Rs 2055 and target of Rs 2100, Infosys with stop loss at Rs 743 and target of Rs 761 and V-Guard Industries with stop loss at Rs 218 and target of Rs 226.
If the index crosses and sustains above 11,760 levels on the tradable basis, we expect the rally to continue towards 11,900-12,000
In the current scenario where NBFCs are facing tight liquidity conditions, banks are expected to see much higher credit growth by gaining significant market share in the home loans, PVs, CVs and 2 wheeler portfolios.
Ashwani Gujral of ashwanigujral.com recommends buying Oriental Bank of Commerce with a stop loss of Rs 112, target of Rs 120, State Bank of India with a stop loss of Rs 325, target of Rs 341 and YES Bank with a stop loss of Rs 276, target of Rs 290.
The global investment bank expects returns to be driven largely by earnings with potential valuation overshoot in the near-term.
Sudarshan Sukhani of s2analytics.com recommends buying Tata Chemicals with stop loss at Rs 581 and target of Rs 610, Godrej Consumer Products with stop loss at Rs 709 and target of Rs 725 and Interglobe Aviation with stop loss at Rs 1305 and target of Rs 1342.
A high of 11,383.45 will act as an immediate resistance above which the momentum will resume till 11,465 – 11,523 levels, respectively. On the flip side, the gap area of 11,227 – 11,180.90 will act as strong support on the index.
On the higher end, 10,920 is likely to continue acting as resistance; sustained trades above which may lead to rally towards 11,100.
General election is expected to bring in a bit of comfort. It could be said as a big upcoming event for the market. However, tension in Indo-Pak tensions on the other end would embark a stagnant market
The domestic brokerage firm expects the Nifty EPS to grow 9 percent in FY19 and 27 percent in FY20.
Morgan Stanley feels large banks are relatively less exposed to IL&FS, telecoms, NBFCs,and real estate.
Mitessh Thakkar of mitesshthakkar.com recommends buying CESC with a stop loss of Rs 716 and target of Rs 755, Cipla with a stop loss of Rs 527 and target of Rs 548 and Hindalco Industries with a stop loss of Rs 207 and target of Rs 219.
We are bullish on the prospects of SBI as we feel that the worst is discounted in current market price and there is room for upside
Traders can accumulate the stock in the range of Rs 285-290 for the target of Rs 308 and a stop loss below Rs 278.
Sustained trades above 10,800 may induce a rally towards 11,000 levels in February series.
Mitessh Thakkar of mitesshthakkar.com recommends buying Arvind with a stop loss of Rs 89.5 and target of Rs 95 and ICICI Bank with a stop loss of Rs 360 and target of Rs 378.