The market is expected to gain further strength only if it decisively climbs above the midline of the Bollinger Bands. Below are some short-term trading ideas to consider.
The support for the Bank Nifty is around 54,800 while next resistance is around 55,800 and 56,500 for the next few sessions, Arun Kumar Mantri said.
The bearish sentiment may sustain in the short term, given the weakening momentum. Below are some short-term trading ideas to consider.
Poonawalla Fincorp's board has approved the issuance of 3.31 crore shares to the promoter Rising Sun Holdings at a price of Rs 452.51 per share
Stocks to Watch, 18 September: Stocks like Cochin Shipyard, Dixon Technologies, Cohance Lifesciences, Indosolar, Biocon Gujarat Fluorochemicals, Airfloa Rail Technology, BR Goyal Infrastructure, Aavas Financiers, Federal Bank, Yes Bank, and Bandhan Bank will be in focus on September 18.
Given technical confirmations, Nifty Auto is well-positioned to continue its outperformance in the short term, barring any major market-wide disruptions, said Sudeep Shah of SBI Securities.
Poonawalla Fincorp's promoter will soon infuse Rs 1,500 crore via the issuance of equity shares on a preferential basis for which board approval is already in place.
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 three companies released business updates for the first quarter of the financial year 2026 (April 2025 to June 2025).
Stocks to watch, 9 June: Stocks like Garden Reach Shipbuilders & Engineers, GHV Infra Projects, Multi Commodity Exchange of India, Bharat Electronics, Hindustan Copper, RITES, Afcons Infrastructure, UPL, Asian Paints, Aditya Birla Fashion and Retail, Chambal Fertilisers and Chemicals, and Manappuram Finance will be in focus on June 9.
Technically, all the moving averages and momentum-based indicators suggest strong bullish momentum in the Bank Nifty index. The daily RSI is quoting at 67.45, and it is in rising trajectory, which suggests strong bullish momentum.
ICICI Securities recommended hold rating on Poonawalla Fincorp with a target price of Rs 360 in its research report dated April 27, 2025.
Motilal Oswal is bullish on Poonawalla Fincorp recommended buy rating on the stock with a target price of Rs 440 in its research report dated April 26, 2025.
Emkay Global Financial recommended reduce rating on Poonawalla Fincorp with a target price of Rs 280 in its research report dated April 27, 2025.
Stocks to Watch, 28 Apr: Stocks like Sasken Technologies, SBFC Finance, Mangalore Refinery and Petrochemicals, Bhansali Engineering Polymers, Rossari Biotech, Zensar Technologies, L&T Finance, Force Motors, Lloyds Metals and Energy, Poonawalla Fincorp, Mahindra Holidays & Resorts India, Tata Technologies, and DCB Bank will be in focus on April 28.
The company didn't declare any dividend, and said that it wishes to conserve capital in view of its future growth.
The company plans to open 400 new branches in a phased manner in the next four quarters to cement its presence across Tier 2 and Tier 3 cities
Considering the current chart structure, Sudeep Shah of SBI Securities recommends adopting a cautious stance and stock-specific approach.
IDFC First Bank's loans and advances grew over 20 percent year-on-year to Rs 2.42 lakh crore, while customer deposits increased more than 25 percent YoY to Rs 2.43 lakh crore, as on March 31, 2025.
Going ahead, the current chart structure indicates that the Nifty 50 may continue its consolidation for the next couple of sessions before picking its next direction, said Sudeep Shah.
Poonawalla Fincorp's stock is currently one of the top gainers on the Nifty Midcap index, having recovered over 30 percent after hitting a 52-week low on March 4, 2025.