Stocks to Watch Today, 28 July: Stocks like Kotak Mahindra Bank, Central Depository Services, Balkrishna Industries, Orient Cement, Tata Chemicals, Poonawalla Fincorp, VA Tech Wabag, RITES, Sigachi Industries, and Ola Electric Mobility will be in focus on July 28.
The deal valued at $114/tonne gives Ambuja the much needed clinker capacity, limestone reserves, and a greater presence in the southern cement market
Ambuja Cements will acquire 37.9 percent equity stake in Orient Cement from the promoters, and an additional 8.9 percent stake from certain public shareholders. It will also launch an open offer to acquire up to 26 percent equity.
The consolidation in the market is expected to continue, with a focus on stock-specific action amid the earnings season. Below are some trading ideas for the near term.
ICICI Securities is bearish on Orient Cement has recommended sell rating on the stock with a target price of Rs 237 in its research report dated August 07, 2024.
Experts see a sharp correction if the Nifty 50 decisively closes below 24,500, with 24,000 acting as a crucial support and 24,900 as a hurdle on the higher side. Here are some trading ideas for the near term.
Oriental Carbon and Chemicals, Orient Cement, Pearl Global Industries, Allcargo Gati, Piramal Enterprises, 5paisa Capital, Rail Vikas Nigam, Zee Entertainment Enterprises, and Aditya Birla Capital will also be in focus on Wednesday.
The bullish momentum is likely to continue, with the Nifty climbing to 24,000-24,200 levels in the immediate term, with immediate support at 23,700. Here are some trading ideas for the near term.
Anand Rathi is bullish on Orient Cement has recommended buy rating on the stock with a target price of Rs 319 in its research report dated May 02, 2024.
Looking ahead, the level of 48,636 poses an immediate resistance as it represents the previous high reached in December 2023
Traders are advised to accumulate longs in Nifty with a stop-loss of 22,000 on the closing basis.
Looking ahead, the short-term support level has been adjusted to 22,000 for the current week starting from April 1, underscoring the dynamic nature of market trends and the importance of vigilant analysis in navigating fluctuations.
The ongoing bullish trend is likely to continue in broad market indices like midcap and small cap segments for the coming weeks.
The ongoing bullish trend is likely to continue in broad market indices like midcap and small cap segments for the coming weeks.
On the higher side, Nifty has got an immediate resistance around 19,600 levels, derived from the downward sloping trendline, adjoining the highs of September 15 and October 17, 2023.
Nandish Shah expects market to remain bearish for the short term. Traders are advised to remain cautious till Nifty closes above 19,700 levels.
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.