Key Points
A pause in the last few days augurs well for the trend to breach the 2022s peak on the Nifty IT index."ETMarkets.comIT sector has been a long term laggard, and has been among our favourites among turnaround plays..
A pause in the last few days augurs well for the trend to breach the 2022s peak on the Nifty IT index, says Anand James, Chief Market Strategist at Geojit Financial Services..
Anand James: We had entered last week under heavy overbought conditions, and if Wednesday's crash has done anything, it has served to embolden the bulls and improved the risk appetite, having recovered much of what we last had on Wednesday..
Anand James: A bullish engulfing candle on Friday papered over the cracks that was beginning to show when a broad market crash unfolded, serving to signal a continuation in the uptrend that shows several signs of a strong rally..
Anand James: During the last two years, we had entered the last week of the year on low when compared with that of early December or late November..
You might be interested in
Buy or sell: Ruchit Jain of 5paisa recommends buying Tata Chemicals and Max Financial Services stock this week
05, Mar, 24Buy or sell stocks: Ruchit Jain of 5paisa has recommended two stocks to buy this week - Tata Chemicals Ltd and Max Financial Services Ltd.
IT largecap stocks not in overbought zone after Friday’s rally: Anand James
14, Jan, 24Largecap IT stocks, including Infosys and Tech Mahindra, have not yet reached overbought levels despite recent gains. Smallcap stocks have seen the most visible gains in the last year. Traders should be cautious as the earnings season begins, as history suggests a high chance of a monthly close in the red when entering the season at record peaks. Recent CPI readings from the US have prompted traders to reduce bets on Fed's rate cuts. The next fortnight could see objectives of 22240 and 22400, with a downside marker at 21790.
Nifty Smallcap follows LIFO model, be picky; 3 top ideas for the week: Kunal Shah
17, Mar, 24Kunal Shah highlights Nifty Smallcap's LIFO model and market volatility. Nifty index remains bearish, with strong support at 21900-21850. Nifty Bank sees resistance at 47000 and support at 46500. Consider SIP for investment strategies in the market. Shah also says: The support zone at 8200 could serve as an excellent opportunity to add new long positions across the entire basket of stocks.
Week Ahead: Auto sales, Q3 updates, US Fed minutes among key triggers; Nifty 50 eyes record highs as markets enter 2024
31, Dec, 23Analysts expect that the euphoria in markets is expected to continue on account of strong macro factors and positive global cues. However, some consolidation can be expected in the initial sessions after Nifty 50 surged almost eight per cent in December.
PNB among top 3 trading ideas for the week ahead from Rupak De of LKP Securities
09, Mar, 24Rupak De, Senior Technical Analyst at LKP Securities, recommends PNB, Chambal Fertilisers, and Havells as top stock picks for the week ahead. Nifty levels to watch out for are 22,500 and 22,400 with support expected to hold at 22,400. Bank Nifty is expected to outperform the Nifty with potential upward moves towards 49000.
Market indicators hinting at fatigue
27, Jun, 23Analysts said gains in the stock market have been restricted in the past when 70% of the stocks on the NSE 500 index trade above the 200-DMA.
Dip buyers in action? Sensex rebounds more than 900 points from day's low
21, Dec, 23The vulnerability of the mid and small caps to correction remains since the valuations are excessive. Large caps will witness buying on declines. Investors can wait for the market to stabilise and buy high quality largecap stocks on declines, said VK Vijaykumar of Geojit Financial. The top gainers were Power Grid, Britannia Industries, Bharat Petroleum Corporation (BPCL), RIL, and LTIMindtree, while the top losers were Axis Bank, Bajaj Auto, Cipla, SBI Life and ICICI Bank.
India stock rally is no rocket science. Here’s why
03, Feb, 24Despite external headwinds, both the Nifty 50 and BSE Sensex recorded hefty gains, making 2023 their second-best year since 2017.
After Monday's steep climb, prepare for more volatility in stocks
30, Jan, 24The NSE’s benchmark Nifty closed 1.8% higher at 21,737.60 points, while BSE’s Sensex ended 1.76% higher at 71,941.57, their biggest gains since 4 December.
Has Indian stock market topped out after hitting life-time high — explained
06, Jul, 23Stock market today: Speculation arises if market has topped out, but experts believe rally will continue, led by FMCG and Capital Goods sectors