In this episode of Market Minutes, Shailaja Mohapatra talks about LTIMindtree results, Sheela Foam's Kurlon acquisition and the global market setup. Also, catch Shrikant Chouhan of Kotak Securities in Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends.
Zomato shares gained 4.4 percent to settle at Rs 67.30, the highest closing level since December 2 last year, and formed long bullish candlestick pattern on the daily scale with above average volumes. The stock has given a nice breakout for the Mother candle of May 9, which is a positive sign, with trades above all key moving averages.
Suprajit Engineering has formed robust bullish candlestick pattern on the daily timeframe, making higher highs-higher lows formation for three days in a row, with healthy volumes. The stock settled at Rs 403, the highest closing level since February 4 last year, up over 5 percent.
ABB India continued to make higher highs, higher lows formation for eighth consecutive session, and formed long bullish candlestick pattern on the daily scale. The stock gained 5.55 percent to end at record closing high of Rs 3,645, continuing uptrend for eight days in a row, with strong volumes.
BSE was also in action, climbing over 4 percent to Rs 521, continuing uptrend for fifth consecutive session. The stock has formed long bullish candle on the daily scale with strong volumes and made higher tops higher bottoms formation for fourth straight day.
Indigo Paints has seen a decisive breakout of couple of weeks' of consolidation and formed bullish candle with long upper shadow, indicating some kind of profit taking at higher levels. The stock settled 6 percent higher at Rs 1,136, with robust volumes.
Godrej Properties shares rallied 6.5 percent to Rs 1,125 and formed strong bullish candle on the daily scale with strong volumes, continuing uptrend for fifth consecutive session and recouping all its previous seven straight days' losses.
Triveni Turbine shares climbed 4.5 percent to Rs 315 and formed long bullish candle on the daily timeframe with making higher high higher low formation. The stock traded above all key moving averages (9, 21, 50, 100 and 200-day EMA - exponential moving average).
Hindustan Petroleum Corporation was one of the star performers, rising over 6 percent to Rs 244.5, the highest closing level since January 25 this year and formed robust bullish candle on the daily timeframe, with strong volumes. The stock traded well above all key moving averages (9, 21, 50, 100 and 200-day EMA - exponential moving average).
RITES was also in action, rising 5.7 percent to Rs 371 and formed strong bullish candle on the daily timeframe with above average volumes. The stock held above all key moving averages since the breaking out of long downward sloping resistance trendline adjoining highs of November 4, 2022 and February 1, 2023.
Siemens retreated sharply after recent consolidation and record high, falling nearly 4 percent to Rs 3,132. The stock has seen formation of big bearish candlestick pattern on the daily charts, after Doji pattern formation in previous session, but still maintained short term and long term key moving averages.
Mphasis, like other technology stocks, traded quite strong, rising nearly 5 percent to Rs 2,263, the highest closing level since August 23, 2022 and formed robust bullish candle on the daily charts with strong volumes. Also with Thursday's rally, the stock now traded above all key moving averages, indicating positive sign.
Going ahead, FPI inflow into India is likely to remain volatile, given the headwinds in terms of elevated crude prices, inflation and tight monetary policy.
Shrikant Chouhan of Kotak Securities will answer all your stock queries. In our What’s Trending segment, we focus on the tech sector with Aniket Pande of Prabhudas Lilladhar
Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when the market resumes trading today
Dr Lal Pathlabs that rose 4 percent and MindTree gained around 6 percent on August 18 to hit a fresh 52-week high
Stocks that were in focus include VIP, which rose 20% to hit a 52-week high, Max Healthcare (gained nearly 10%), and Bharat Forge (closed with gains of nearly 6%) on Thursday. All three stocks hit a fresh 52-week high
Smart money is searching for quality and value. Since the beginning of the month of August we saw flows for Bharti Airtel, Britannia Industries, Escorts, ITC, and HDFC Ltd, says Chouhan.
Reliance Industries fell over 2 percent, Bharat Electronics rose over 1 percent to hit a 52-week high and V-Mart gave up gains after hitting a fresh 52-week high to close in the red on June 24.
Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when the market resumes trading today:
Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when the market resumes trading today:
Stocks like Suven Pharma rose over 5 percent, Balrampur Chini Mills rallied nearly 7 percent, and Wipro closed with gains of over 3 percent to a fresh 52-week high on April 22.
Here's what Shrikant Chouhan, Executive Vice President Equity Technical Research at Kotak Securities, recommends investors should do with these stocks when the market resumes trading on March 12:
Equitas Small Finance Bank, which was locked in the upper circuit of 20 percent, Adani Power rose nearly 10 percent, and Ujjivan Small Finance Bank rose more than 7 percent
Stocks like GAIL India rose more than 6 percent, The New India Assurance Company was locked in the upper circuit of 20 percent, and the Central Bank of India was also up by about 20 percent.