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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.
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Rangebound trading is expected to continue, with key support near the low of last Thursday. Below are some short-term trading ideas to consider.
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The market is likely to consolidate further and may attempt to surpass last Thursday's swing high. Below are some short-term trading ideas to consider.
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ICICI Bank was the star performer in the Nifty 50 and formed robust bullish candlestick pattern on the daily charts with healthy volumes. The stock traded above all key moving averages now.
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In case, the Nifty50 gets broken down the support 19,480, the low of previous week, 19,300 (the low of October month) is likely get tested in coming sessions, experts said.
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On February 3, Supreme Industries gained over 3 percent to close at a record high of Rs 2,630, Mahindra Lifespace Developers gained 9 percent to Rs 380 and AAVAS Financiers was up more than 7 percent at Rs 2,000
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Experts predict a lot of volatility given the Union Budget week, but if the Nifty manages to hold the 50 WEMA, then there are fair chances that the index can easily surpass the 17,800-18,200 zone in the coming days, followed by 18,500
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ITC has formed bullish candle on the daily charts with higher high formation for fourth straight session, with above average volumes for last several sessions. It has given a decent breakout of long downward sloping resistance trend line adjoining multiple touchpoints at higher levels (November 9, November 11 last year, and January 25, 2023).
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Pudumjee Paper Products is coming out of one year of consolidation with heavy volume. The primary trend is bullish and there is a breakout of a Bullish Flag formation on the weekly time frame, which may lead to a fresh expansion phase.
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On the daily charts, Crompton Greaves has given a breakout of A-B-C pattern with volume confirmation which shows positive undertone of the stock for the short to medium term.
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The year 2020 is largely about survival, both health-wise and finance-wise. It is also an opportune time to tweak and tighten the portfolio for the next bull run, said Yes Securities
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Bank Nifty has now immediate hurdle placed at 22,500, above which, it can move towards 22,750 levels as well in the coming sessions.
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Experts point out select mid and smallcaps look good for medium to long term horizon. They name about 20 favourite stocks
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The reason behind cut in price target is that earnings are expected to get impacted by lockdown due to novel coronavirus.
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A reduction in personal income tax will lead to higher consumption and will be positive for many sectors, especially autos and consumers, said experts.
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Hence here are 11 stocks where brokerages initiated coverage with a buy call, which could give 10-73 percent return:
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Bollinger band volatility breakout can come above 11,300 marks which can add further strength to the current up move.
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We expect the index to continue with its outperformance so we advise investors to accumulate quality midcap stocks in a staggered manner.
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Most experts feel the government could focus more on infrastructure and rural spending, which are key areas to bring growth back on track
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On the downside, the immediate support is placed at 11,500 levels for Nifty while 29,350-29,250 zone will act as a major support for Bank Nifty.
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As long as Nifty sustains above 11,540-11,520 levels, one can trade with buy on dip strategy.
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The brokerage feels product diversification and value addition are keys to growth.
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Elara said NBFCs are expected to bear the brunt of tightening liquidity, down 18.6 percent YoY, whereas banks would benefit, up 69 percent YoY, due to improving credit deposit ratios and improvement in pricing power, given the stress in the NBFC space.
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Expects these players to benefit the most from transition to organised segment.
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India’s plastics industry is one of the biggest in the world. Industry volumes are estimated at 16MMTPA (in FY17), with market size at Rs 1.8 lakh crore.
