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 next support is placed at 200-day SMA of 17,368, which coincides with Budget day's low, as breaking this may drag the Nifty towards 17,000 level, whereas the near-term resistance is expected at 17,600 followed by 17,700-17,800
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.
Traders are advised to continue with an optimistic approach and now, with other sectors chipping in, we expect a good broad-based buying in the forthcoming week.
SAIL has witnessed a falling wedge breakout on the higher side and closed convincingly above its support zone. It formed a bullish engulfing candlestick on the weekly scale and since then, prices haven't tested the lower band of the pattern.
Here is what Vikas Jain of Reliance Securities, recommends investors should do with these stocks when the market resumes trading on November 2.
After some profit-booking in the past week, stocks are likely to be rangebound in the week ahead, analysts said.
Experts feel the market is expected to face resistance at the 17,500 level, but may find it difficult to decisively cross it. They advise caution at current levels and a stock-specific approach.
After a bull run in FY21, the new fiscal year has begun with some uncertainty because of the second wave of COVID-19 and higher commodity prices but analysts remain optimistic about economic growth and corporate earnings, making several stocks very attractive.
The recent rally in some steel stocks has raised the concerns of peak valuations, but brokerages find it in line with their long-term historic mean.
As we are approaching the monthly expiry of February F&O contracts, the market may remain volatile ahead of rollovers.
Sanjeev Hota of Sharekhan by BNP Paribas feels there could be further positive earnings surprise in store for Q4FY21.
PSU stocks have had a most forgettable year in 2020, with the Nifty PSE index declining about 30 percent since January. 2020.
June and March quarter earnings indicated that lot of sectors did not have much impact of COVID-19-led lockdown. As a result, lot of stocks saw an upgrade in rating to buy.
Mitesh Thakkar of miteshthakkar.com recommends buying Ashok Leyland with a stop loss of Rs 84 for target of Rs 92 and Dish TV with a stop loss below Rs 13 for target of Rs 14.5.
Prakash Gaba of prakashgaba.com recommends buying Indiabuls Housing Finance with target at Rs 320 and stop loss at Rs 275 and NMDC with target at Rs 120 and stop loss at Rs 112.
Ashwani Gujral of ashwanigujral.com advices selling Tata Steel with a stop loss of Rs 390, target of Rs 375.
Mitessh Thakkar of mitesshthakkar.com recommends selling Hero MotoCorp with a stoploss of Rs 2,620 and target of Rs 2,530-2,589.10 and advises buying Reliance Industries with a stoploss of Rs 1,458 and target of Rs 1,500-1,472.30.
Demand for iron and steel is set to grow, with strong growth expectations for the residential and commercial sector.
Sudarshan Sukhani of s2analytics.com recommends buying Mindtree with stop loss of Rs 702 and target of Rs 725 and Pidilite Industries with stop loss at Rs 1215 and target of Rs 1255.
Sudarshan Sukhani of s2analytics.com recommends buying Bata India with stop loss at Rs 1295 and target of Rs 1340 and Hindustan Unilever with stop loss at Rs 1710 and target of Rs 1755.
As per the Fibonacci projections, the short term target of Nifty50 is 12,000 and in upcoming week if 11,856 trades on higher side then we could see a smooth journey towards the target level.
The primary trend of the Nifty is still bullish. The Nifty could extend the rally towards the target of 12,000.
The metals sector which has long been preparing itself for this move seems to be fully prepared to go full-out and perform itself in the April series.
Mitessh Thakkar of mitesshthakkar.com recommends buying Allahabad Bank with a stop loss of Rs 45 and target of Rs 49, Bajaj Auto with a stop loss of Rs 2790 and target of Rs 2875 and Steel Authority of India with a stop loss of Rs 47.9 and target of Rs 51.5.
Technical experts feel that the week is likely to remain volatile due to November F&O expiry, but bulls will be able to take control only if Nifty closes above 10,700-level and 200-DMA.