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Trident extended its northward journey for sixth consecutive session. The stock has formed strong bullish candlestick pattern on the daily scale with robust volumes. In fact, the volumes remained healthy in the past four sessions.
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Century Plyboards rose nearly 4 percent to Rs 484 and formed bullish candle on the daily timeframe with above average volumes. The stock has decisively broken its previous four-day consolidation.
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Auto stocks have outperformed in the last couple of months and have been continuing the positive momentum. Escorts Kubota has recently seen a gradual upmove after a corrective phase and the volumes have now increased along with the price upmove which is a positive sign.
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At current juncture, Trident is in crucial support zone of Rs 35-36. Moreover, exactly at those levels, we have seen Bullish Engulfing on June 21 along with volume picking up and it is a sign of positive momentum.
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After a medium term price correction, Trident is witnessing rangebound activity. On the higher side, the stock is consistently facing resistance near Rs 58. For the bulls, Rs 58 would be the important breakout level to watch.
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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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Here's what Mehul Kothari of Anand Rathi Shares and Stock Brokers, and Shrikant Chouhan of Kotak Securities, recommend investors should do with these stocks when the market resumes trading today.
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The long-awaited package is expected to boost the textile sector as it will not only promote high-value MMF fabrics and garments, and encourage industry to add more capacities going ahead with focus on organised players, but also create huge employment in coming quarters.
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The Q2FY21, so far, witnessed robust numbers from IT, Pharma, Auto components, select banks, and cement sector companies.
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For this week, Nifty has strong support at 11,565-11,500 and resistance at 11,700-11,760
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For next week, Nifty has strong support at 10,730-10,650 levels and resistance at 10,870-10,940 levels
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The Q2FY19 earnings season so far has been in line with the expectations. Strong results declared by IT companies, upbeat numbers from RIL and robust growth reported by the FMCG companies are indicative of sustained demand environment.
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Axis Direct highlights how the year has been a volatile one, with US-China trade tensions, rising crude prices, depreciating rupee, and debt market liquidity crisis dominating cues that are responsible for a correction in the market
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The major reason that experts are expecting a sharp correction in broader markets is stretched valuations as the Nifty Midcap shot up 47 percent and BSE Smallcap index rallied 60 percent in 2017.
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Traders can buy the stock on dips and around Rs 58-59 with a stop loss below Rs 55 for a target of Rs 65.50, says Abhishek Mondal of Guiness Securities.
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Immediate support is seen around 10,700 and 10,600, whereas 10,900 and 11,000 will act as a hurdle before June expiry.
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Going forward, Trident’s operational turnaround will be predominantly driven by the extent and pace with which capacity utilisations at its plants scale up.
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Ashwani Gujral of ashwanigujral.com is of the view that one can buy IndusInd Bank and PVR while he feels that Trident may test Rs 135.
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India is in the midst of a secular bull run and we see markets rising towards 10,500 by the end of 2017, and for 2018, our target is placed at 11,500, Sahil Kapoor, Chief Market Strategist, Edelweiss Broking, said in an exclusive interview with Kshitij Anand of Moneycontrol.
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The research house feels the rising share of copier paper should lead to paper business margin expansion of 340bp to 38 percent in FY20.
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We have collated a list of 12 stock from large and midcap space from various experts which are likely to outperform benchmark indices in the next 12 months.
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Dolly Khanna, along with her husband Rajiv Khanna who has been her investment advisor, raised stake in 9 out of 20 stocks in her portfolio. She booked profits in 8 stocks while maintained a stake in 3 companies.
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Nifty@10,000 is more of a psychological level than anything else. The only concern is that at this level, markets are fairly priced but that does not mean it is on the verge of a big correction.
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But, it is time to tread with caution with respect to small and midcap stocks after a sharp rally in the last 12-24 months. Not all midcap stocks might strike gold for investors at current levels given the frothy valuation.
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According to Shahina Mukadam, Independent Market Expert, one may hold Trident.
