Balrampur Chini, Tata Motors and ICICI Lombard are top 3 stock ideas of the week from Rupak De, Senior Technical Analyst, LKP Securities. “Balrampur Chini has given a swing high breakout on the weekly chart, suggesting a rise in optimism. The weekly RSI is in bullish crossover with an indication of strong price momentum. Over … Read more
Strong global market cues provided a major impetus to the market as the Sensex surged more than 1,000 points in intra-day trades on all-round buying support. India Vix also descended from 20 levels to 15 during the week, which signals an easing in the cautiousness in the market and improvement in sentiments. The second half … Read more
We believe there might be both time and price-wise correction in the days to come. As we have previously seen, DIIs are buying at every dip in the market, so the downside may be limited, said Dr Ravi Singh, Senior Vice President, Retail Research at Religare Broking. This analyst spells-out strategy in previous week’s major … Read more
Following a sharp 17% rally in Zomato shares amid blockbuster results, the new-age stock could rally to Rs 292 in the near term, with a stop loss at Rs 252-240, says Anand James, Chief Market Strategist at Geojit Financial Services. “Directional moving indicators and most oscillators point to strength and continuation of the uptrend. Fast … Read more
“So, we will wait for a breakout or breakdown for market to decide in which direction it could trend for more 1% to 3%, but right now if we have a level based approach, then on Nifty if it breaks 24,700, then the view is negative and if on the upside Nifty breaks 25,050, then … Read more
Nifty witnessed a sharp recovery a day after monthly F&O expiry, to close near the all-time high with gains of 429 points or 1.7% at 24,835. The broader market too ended in green, up by more than 1%. The Nifty50 index started on a flattish note this week considering global cues however there was a … Read more
Bulls are in full control of the market at the current juncture as Nifty ended its sixth consecutive week with gains. However, the week did witness some profit booking for Bank Nifty on the upper levels. The week broadly witnessed a range bound movement for both the indices but the prices are comfortably placed above … Read more
“So, the way broader market is participating, sectorial rotation is happening, now the IT is on the front seat for this rally, so the way market is doing the sector rotation that is clearly giving us confidence that ahead of budget maybe we can see further higher level towards 25,000 level also,” says Rajesh Palviya, … Read more
“Somewhere down the line correction could come and it could take prices lower than the buying price, so that is the pocket of euphoria in the medium term,” says Aditya Arora, Adlytick.Your call on the market right now, especially Nifty, Bank Nifty and also smallcap, midcap indices just for the flavour I want to understand, … Read more
On June 19, 2024, the Bank Nifty reached a new high of 51,957. This milestone could be just the beginning, with potential for further acceleration and growth. It’s a known fact that due to improved operational efficiencies, the implementation of the Insolvency and Bankruptcy Code and cautious lending practices by PSU banks have significantly enhanced … Read more
