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Pent-up demand continues to propel auto stocks, while rising interest rates auger well for financials. However, the anticipated global slowdown is spoiling the party for IT and metal companies
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Bharat Electronics has recently consolidated within a range which seems to be a time-wise correction within an uptrend. The consolidation has led to the formation of a ‘Symmetrical Triangle’ pattern on the daily chart and prices have given a breakout from the pattern
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On long-term charts, PI Industries is moving in a rational uptrend. In the recent correction, the stock formed a double bottom at Rs 2,350 and gave a breakout with rising volumes.
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'It’s time to look back at some of these stocks, which have also borne the brunt of a selling pressure over the past few months when the equity market turned choppy'
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The total market capitalisation of the listed entities of the group has risen by 199 percent in the five-year period starting February 2017 to Rs 23.8 lakh crore, making it the highest valued Indian conglomerate, data from AceEquity showed
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Here's what Rajesh Palviya of Axis Securities, recommends investors should do with these stocks when the market resumes trading today.
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From the broader point of view, looking at the price action, Malay Thakkar of GEPL Capital expects the Nifty to consolidate between 17,000-17,600.
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Experts said trades could continue to be rangebound in the coming days and if the Nifty 50 closes decisively above 18,000-18,100, then it may rally towards record high levels.
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Since the weekly chart of midcap index is showing a bearish formation, which can be termed as 'Engulfing' candle, we advise traders not to create aggressive longs in high beta counters, said Sameet Chavan of Angel One.
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Here's what Shrikant Chouhan of Kotak Securities, recommends investors should do with these stocks when the market resumes trading today.
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Nifty has been forming an indecisive candle pattern for the last three weeks on weekly charts. This shows fatigue in market sentiment at higher levels which can cause some correction if the Nifty breaches 15,430, said Vidnyan Sawant of GEPL Capital
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The outlook for many sectors has improved following various steps, including Budget proposals, announced to revive and accelerate economic growth
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Markets buoyed by US Fed’s view that it would remain focused on getting people back to work as vaccines help the pandemic-hit economy recover.
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The market is likely to continue its bull run, given the slew of growth-oriented measures taken by the government and RBI, though there could intermittent corrections, say experts.
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The base support for Nifty has shifted above 14,500–14,600 levels and any dip near the said levels can be used as a buy on dips opportunity.
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Rakesh Radheshyam Jhunjhunwala and his wife Rekha Rakesh Jhunjhunwala held 3,75,10,395 and 96,60,575 shares of Titan, respectively, at the end of the December quarter of FY21.
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As the September quarter earnings bouyed market sentiment and increased hope for strong earnings growth in coming years, brokerages upgraded majority of quality stocks in current month.
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Gaurav Garg of CapitalVia feels the LTC and reintroducing of Special Festival advance scheme for government employees are expected to boost the consumer demand by additional Rs 36,000 crore.
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Titan can get benefits from the strong market share in the jewellery and wrist watches segment, mainly driven by a wide range of product portfolio catering mainly to the premium and value-added designer jewellery segment.
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In muted earnings expectations for Q1FY21, beats were much higher than misses and that was one of major reasons and confidence booster for equity market not only in India but globally.
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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.
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After March quarter earnings and recent correction in stock prices, many stocks got an upgrade in rating from brokerages
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Hence every expert on the street advised buying quality stocks in a gradual manner instead of bulk purchases and waiting for the market bottom which no one has found yet in the history.
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Brokerages and analysts are of the view that the pain caused by COVID-19 may linger and the market is factoring in the hit on earnings and economic fallout from coronavirus outbreak.
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A sustained trade below 8260 could drag the Index lower to levels of 8080 and 7800. On the flip side a trade beyond 8450 can activate short covering rallies taking Nifty higher to levels of 8740 and 8960.
