Stock analysis is used by traders to make buy and sell call. It’s an approach to make informed decisions while investing in stocks. Stock analysis can be categorised into – fundamental analysis and technical analysis. Fundamental analysis is evaluation of data from sources, including financial records, economic reports, company assets, and market share. Analysts typically study the company’s financial statements – balance sheet, income statement, cash flow statement, and footnotes. These statements are made available to the investors in the form of quarterly earnings, disclosures to stock exchanges in compliance with the Securities and Exchange Board of India (Sebi) norms. In fundamental analysis, the analysts particularly check for a company's core income, income from other sources, profitability, guidance, assets and liabilities and debt ratio among other parameters. The other method, i.e. the technical analysis focuses purely on statistical data. It works on two assumptions; one, the stock price reflects the fundamentals. Second, the study of past and present movement in prices can help determine the future price trends. Technical analysis primarily deals with price, volume, demand and supply factors. This method is effective only when supply and demand forces influence the market. However, when outside factors are involved in a price movement, technical analysis may not be successful. More
Indicators and oscillators like directional movement index (DMI), RSI and moving average convergence divergence (MACD) have given fresh buy signal in Wipro on the short term charts.
Experts expect some consolidation in the key indices and adjustments to continue in individual stocks. For the week ahead, in case of a consolidation, one should focus on stock-specific moves, which will provide excellent trading opportunities, they said.
In the current fall, from an investor's point of view, this is certainly an excellent opportunity to bag quality stocks in a staggered manner but for traders, it will be difficult to say that worse is behind, says Sameet Chavan of Angel One
For the overall market, the trend continues to be weak till Nifty stays below 17,000-mark, said Malay Thakkar of GEPL Capital
With the possibility of escalation in tensions in Eastern Europe due to the Russia-Ukraine war keeping investors edgy, the brokerage firm says healthy earnings visibility can act as a cushion
Until the decisive breakout is not seen on the Nifty, one should expect a rangebound movement and focus on stock-specific action, Sameet Chavan of Angel One advised
The Nifty IT has fallen more than 11 percent in 2022, as investors turn pessimistic over the sustainability of the sector’s rich valuations amid the possibility of a sharp increase in interest rates at home and abroad
NIfty is expected to remain volatile and likely to trade in a broader range of 16,500-17,000. The Nifty is still holding above its 200-day exponential moving average which is placed around 16,300 levels on daily charts, says Shitij Gandhi of SMC Global
Now the way the market tumbled on Friday, recent swing low of around 16,800 is in jeopardy now. "We will not be surprised to see it happening to test 16,500-16,200 zone on the Nifty50," says Sameet Chavan of Angel One.
Here's what Rajesh Palviya of Axis Securities, recommends investors should do with these stocks when the market resumes trading today.
Key support level to watch out for on Nifty, from a short-term perspective, is 15,600. If the index breaches below this level, we can expect further downside towards 15,450 and 15,100-15,145, said Karan Pai of GEPL Capital.
Overall experts feel the FY22 would remain strong for the market and economy, though COVID-19 may hit earnings in Q1FY22.
In these uncertain times, when markets are volatile as the country grapples with the frightening rise in COVID-19 infections, experts say investors should go for quality large-cap stocks and use any near-term correction to pick up such shares.
The numbers of these large-cap IT players came on the better side of expectations and the outlook for the sector looks positive.
Wipro will source the funds for its buyback from current balances of cash and cash equivalents and/or internal accruals. Borrowed funds will not be used for the buyback.
Brokerage firm Credit Suisse says a pick-up in Accenture’s revenue growth and strong bookings augur well for the demand environment.
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.
Vineeta Sharma, Head of Research at Narnolia Financial Advisors said the robust results posted by IT companies were ahead of their estimates given the increased demand for digital services in the times of COVID-19.
As the COVID-19 pandemic has driven an increased focus on digital transformation, tech spending is expected to hold up better as customers invest to ensure business continuity and seamless operations.
The index is trading near 261.8 percent Fibonacci projected level, based on the previous week's trading range, suggesting that bears might take a breather.
The Nifty IT index jumped 27 percent year-to-date and 77 percent from March 23's low point, while Pharma index was up 46 percent and 82 percent in same periods.
As far as levels are concerned, 11,550-11,650 are likely to act as immediate hurdles; whereas on the lower side, 11,350-11,200 would work as a key support zone.
The bearish engulfing pattern on the weekly chart is also intact, hence any rising attempt from here could encounter selling pressure at the highs.
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.
Infosys posted an 11.5 percent YoY growth in net profit at Rs 4,233 crore while Wipro posted a flat 0.11 percent YoY growth in net profit at Rs 2,390.40 crore.