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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
While each of these microcap stocks carries inherent risks, the current technical setup supported by the Heikin Ashi Multi-Time Frame alignment signals a potential for bullish breakouts.
Zomato recouped all its previous day's losses and jumped 4.6 percent to Rs 105.4, forming bullish candlestick pattern with long upper shadow on the daily charts, indicating profit taking at higher levels.
BHEL continued to hit fresh multi-year highs and closed 4.7 percent higher at Rs 114.65, forming long bullish candlestick pattern on the daily scale with above average volumes. The stock continued its uptrend for yet another session.
Jubilant Pharmova has seen Bullish Engulfing kind of pattern on the daily charts, rising 6 percent to Rs 458, the highest closing level since May 2, 2022 and recouped all its previous two-day losses.
Nazara Technologies has seen a decisive breakout of current month's consolidation range and jumped 5 percent to Rs 661, the highest closing level since October 28, 2022. The stock has formed long bullish candlestick pattern on the daily scale with above average volumes.
Varun Beverages shares rose over 3 percent to end at record closing high of Rs 1,505.5 and formed bullish candlestick pattern on the daily timeframe, though trading volume remained below average. The stock has seen a break out of Mother candle of May 2.
KEC International jumped more than 9 percent to Rs 443.3, forming large bullish candle on the daily charts with strong volumes after a month long consolidation. It has seen a gap up opening on Monday and intraday climbed above the high of previous big red candle seen on August 5.
Radico Khaitan was also in focus, rising 4.5 percent to Rs 1,066.6 and forming bullish candle on the daily charts with double the average volumes. The candle has also seen a breakout of long downward sloping resistance trendline adjoining January 1 and August 25 this year.
After a long underperformance, Yes Bank prices have finally given a breakout from its immediate short term resistance which was placed around Rs 16-16.20. The stock has witnessed huge buying interest which can be seen through its high volumes.
Here's what Shrikant Chouhan of Kotak Securities, recommends investors should do with these stocks when the market resumes trading today.
The global brokerage firm initiated coverage on the stock with a sell rating, and fixed a target price of Rs 1,095 per share, below the issue price of Rs 1,101. CLSA says at at the current price and even after falling more than 30 percent from the record high levels, the stock looks expensive.
