HDFC Securities
Commodity Talk: Investors should remain long on gold, says Anuj Gupta of HDFC Securities
Our view remains bullish on gold. In the $2,480–$2,500 zone, Comex gold faces immediate resistance. If the price crosses this level, it will move into uncharted territory. For silver, we believe the price is likely to consolidate in a broader range of $27 to $32 with a moderate positive bias.
GIFT Nifty rises over 150 pts; here's the trading setup for today's session
Indian markets fell almost 3% on Monday, reflecting concerns over economic slowdown and global issues. Rupiah fell to an all-time low as uncertainty looms around RBI Policy amidst recession fears. Important companies like Tata Power and Vedanta are set to declare their Q1 results on Tuesday.
Buy ICICI Bank, target price Rs 1325: HDFC Securities
ICICI Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2023.
Healthcare, infra, oil & gas positive, mid and smallcaps poised for gains, says Nagaraj Shetti, HDFC Securities
Nagaraj Shetti of HDFC Securities highlighted that healthcare, infra, and oil and gas sectors appeared strong, with no signs of reversals. He anticipated a healthy correction in Nifty, followed by a bounce back. The article also mentioned the positive performance of upcoming IPOs and mid and smallcap segments.
Buy ACC, target price Rs 3025: HDFC Securities
ACC Ltd., incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 51081.89 Crore) operating in Cement sector.
Buy Orient Electric, target price Rs 320: HDFC Securities
Orient Electric Ltd. key Products/Revenue Segments include Electrical Equipment, Scrap, Sale of services and Export Incentives for the year ending 31-Mar-2024.
Buy Bajaj Electricals, target price Rs 1200: HDFC Securities
Bajaj Electricals Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 12349.02 Crore) operating in Consumer Durables sector.
Reduce Tata Elxsi, target price Rs 6710: HDFC Securities
Tata Elxsi Ltd. key Products/Revenue Segments include Software Development Charges and Traded Goods for the year ending 31-Mar-2024.
Buy Star Cement, target price Rs 250: HDFC Securities
Star Cement Ltd., incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 8499.91 Crore) operating in Cement sectors
Buy Birla Corporation, target price Rs 1815: HDFC Securities
Birla Corporation Ltd. key Products/Revenue Segments include Cement, Jute Goods, Royalty Income, Other Operating Revenue, Export Incentives and Others for the year ending 31-Mar-2022.
Buy Dalmia Bharat, target price Rs 2205: HDFC Securities
Dalmia Bharat Ltd., incorporated in the year 2013, is a Mid Cap company (having a market cap of Rs 34983.26 Crore) operating in Cement sector.
Buy Ujjivan Small Finance Bank, target price Rs 65: HDFC Securities
Ujjivan Small Finance Bank Ltd., incorporated in the year 2016, is a banking company (having a market cap of Rs 8400.88 Crore).
Buy Salzer Electronics, target price Rs 1080: HDFC Securities
Salzer Electronics Ltd., incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 1575.31 Crore) operating in Electric/Electronics sector.
Buy Medplus Health Services, target price Rs 820: HDFC Securities
Medplus Health Services Ltd. key Products/Revenue Segments include Pharmaceuticals, Sale of services and Other Operating Revenue for the year ending 31-Mar-2023.
Buy Apollo Hospitals Enterprise, target price Rs 7250: HDFC Securities
Apollo Hospitals Enterprise Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 91678.54 Crore) operating in Hospitals & Allied Services sector.
Buy JK Lakshmi Cement, target price Rs 1015: HDFC Securities
JK Lakshmi Cement Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 10593.84 Crore) operating in Cement sector.
Buy Nuvoco Vistas Corporation, target price Rs 465: HDFC Securities
Nuvoco Vistas Corporation Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 12855.84 Crore) operating in Cement sector.
Reduce Max Healthcare Institute, target price Rs 880: HDFC Securities
Max Healthcare Institute Ltd., incorporated in the year 2001, is a Small Cap company (having a market cap of Rs 89187.54 Crore) operating in Hospitals & Allied Services sector.
Buy Galaxy Surfactants, target price Rs 3465: HDFC Securities
Galaxy Surfactants Ltd. key Products/Revenue Segments include Other Operating Revenue and Scrap for the year ending 31-Mar-2023.
Reduce Bharat Petroleum Corporation, target price Rs 275: HDFC Securities
Bharat Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 133625.97 Crore) operating in Gas & Petroleum sector.
Buy JK Lakshmi Cement, target price Rs 1015: HDFC Securities
JK Lakshmi Cement Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 10346.73 Crore) operating in Cement sector.
Tech View: Doji candle indicates indecisive mood, highest OI at 25K. Here’s how to trade on Tuesday
The near-term trend of Nifty remains positive. Having sustained above the hurdle of 24,400 levels (1.618% Fibonacci extension), there is a higher possibility of further gradual up move in Nifty towards 24950 levels in the next one week. Immediate support is at 24,450, said Nagaraj Shetti of HDFC Securities.
Buy Gillette India, target price Rs 8920: HDFC Securities
Gillette India Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 24302.05 Crore) operating in FMCG sector.
Buy S P Apparels, target price Rs 801: HDFC Securities
S P Apparels Ltd. key Products/Revenue Segments include Garments, Duty Drawback, Sale of services, Waste (Cotton), Yarn, Fabric, Cotton and Scrap for the year ending 31-Mar-2023.
Add Happiest Minds Technologies, target price Rs 900: HDFC Securities
Happiest Minds Technologies Ltd., incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 13516.67 Crore) operating in IT Software sector.
Tech View: Nifty traders await breakout on either side. Here’s how to trade on Friday
The overall trend of Nifty remains positive as per smaller to larger time frame chart. Having placed at the hurdle of around 24400 levels (1.618% Fibonacci Extension), there is a possibility of this consolidation/minor dip extending for the coming sessions. Immediate support is at 10 day-EMA at 23,990, said Nagaraj Shetti of HDFC Securities.
Tech View: Nifty needs a decisive move above 24,400. Here’s how to trade on Thursday
Nifty ended Wednesday’s session with a gain of 163 points to form a small negative candle but broke out of a sideways consolidation movement on the daily chart ahead of Thursday’s expiry.
Buy HCL Technologies, target price Rs 1650: HDFC Securities
HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 385001.24 Crore) operating in IT Software sector.
Gold flat at Rs 72,350 per 10g, silver rises by Rs 200
Gold and silver prices remained stable at Rs 72,350 per 10 grams and Rs 90,300 per kg respectively. In Delhi markets, spot gold prices stayed unchanged.
Tech View: Nifty breaks 4-day winning streak. Here’s how to trade next week
Nifty ended Friday’s session with a loss of 34 points and broke the four-day winning streak by forming a small-bodied red candle.
Gold climbs Rs 370; silver jumps Rs 600 amid strong global cues
Analysts like Saumil Gandhi and Praveen Singh foresee continued market impact from factors like US PCE inflation data and hawkish statements. The gold market remains influenced by global economic trends and currency fluctuations, leading to a cautious outlook for traders and investors.
Ahead of Market: 10 things that will decide stock action on Monday
Nifty50 and Sensex, the benchmark equity indices, reached record highs on Friday, reclaiming losses incurred on election day. The surge was attributed to expectations of political stability and forecasts indicating accelerated economic growth.
GIFT Nifty trades on a muted note; here's the trading setup for today's session
GIFT Nifty: Domestic equities rose for a second day as investors analyzed Lok Sabha 2024 elections outcome. Focus on government formation, ECB meeting today, and RBI policy tomorrow.
Ahead of Market: 10 things that will decide D-Street action on Friday
The NSE Nifty 50 index ended 0.89% higher at 22,821 points and the S&P BSE Sensex rose 0.93% to 75,074, adding to their gains of more than 3% on Wednesday.
Investors' wealth climbs Rs 21 lakh cr in two days of stock market recovery
Thanks to the optimistic trend in equities, the market capitalisation of BSE-listed companies climbed Rs 21,05,298.11 crore to Rs 4,15,89,003.38 crore (USD 4.98 trillion) in two days.
Tech View: Profit booking likely at higher levels. Here’s how to trade on Friday
The short-term trend of Nifty remains positive despite high volatility. On moving above the hurdle of 22,250 level recently, Nifty still has chances to move towards the next upper hurdle of 23,200 in the near term.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Benchmark key indices gained over 3% each on Wednesday. The Nifty Bank saw its best percentage gain since February 1, 2021. HDFC Bank, SBI, L&T were among the most active stocks on NSE in value terms. The market breadth favoured bulls with 2,597 stocks ending in the green, while 1,221 names settling with cuts.
Rupee ends higher; RBI intervention, foreign banks' dollar sales help
The Indian rupee closed stronger on Wednesday, partially recovering from its slump in the previous session, aided by dollar sales from foreign banks and likely intervention from the Reserve Bank of India.
Nifty Bank index roars back to record biggest daily gain in 3 years
Banking stocks stage a significant rebound, recording the largest gains in over three years, led by HDFC Bank, Bandhan Bank, and IndusInd Bank. Market confidence rises amid support for the BJP from allies and short covering.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
Indian benchmark indices slipped around 6% each on Tuesday, a day after the blue-chip indices surged to record highs on Monday as exit polls had projected a much bigger margin of victory. MACD showed bullish trade on the counters of Solar Industries, Sobha, Phoenix Mills, and Container Corporation of India. Shares of India Cement, Zee Entertainment Enterprises, Bandhan Bank, Dalmia Bharat hit their 52-week lows.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
D-Street settled at record closing high on Monday, led by financials, index heavyweight Reliance Industries and energy stocks. The volatility indicator ended 15% lower as exit polls predicted that PM Narendra Modi will retain power with a landslide victory. Momentum indicator Moving Average Convergence Divergence showed bullish trade on the counters of Amines & Plasticizers, Advait Infratech, and AMIC Forging, among others.
Some Indian brokers impose higher trading margins to withstand election volatility
Some large Indian brokerage firms have asked clients to furnish higher margins against trades this week to limit the risk of default ahead of the results of India's national elections, due on Tuesday.
India Inc exits FY24 on a strong note, clocks double-digit profit growth in Q4
Corporate India saw double-digit growth in net profit and single-digit revenue increase in the March 2024 quarter. Expectations are for healthy growth in the current fiscal year due to peaking interest rates and government policy continuity.
Indian rupee, bonds expected to rally after exit polls signal Modi victory
The Indian rupee and government bonds are likely to strengthen following exit polls favoring Prime Minister Narendra Modi's National Democratic Alliance, potentially boosting market sentiment.
Brokers make trading costlier to discourage risky bets
Brokers in Mumbai are increasing trading costs ahead of the election results to mitigate risks. Measures include raising margins and seeking more collateral. The BSE advised caution in placing orders, with HDFC Securities and ICICI Securities implementing changes in margin requirements.
Top stocks to buy: Bet on companies with healthy net profit margins to remain versatile during uncertain market conditions
The markets are expected to rally if the election results align with expectations. Nonetheless, persistent macro issues and valuation concerns may constrain the upside potential. Analysts suggest that investors capitalise on the current volatility by accumulating quality stocks.
Ahead of Market: 10 things that will decide D-St action on Monday
Nifty formed a long-legged Doji candle on the daily charts to breach a 5-day losing streak as it ended 42 points higher at 22,531. The 50-DMA is placed at around the 22,400 level, and a slip below this level could shift the test to the 22,300-22,260 zone.
Rupee falls on month-end dollar demand; election results in focus
The Indian rupee declined on Friday, pressured by month-end dollar demand from importers, with investors awaiting the outcome of the country's general elections for fresh cues.
Market in consolidation mode in 22,800-22,200 range: Vinay Rajani
Market consolidates around 22,800-22,200, with 22,150 as strong support. Nifty corrects from all-time high near 22,800, forming triple top. FMCG sector leads, expected to continue, offering potential opportunities for stock selection.
Ahead of Market: 10 things that will decide D-Street action on Friday
Nifty ended Thursday with a decline of 216 points, driven by strong selling pressure across most sectors. The 50-stock index fell for the fifth consecutive session and is now trading below the crucial 21-day Exponential Moving Average (21EMA).
F&O stocks to buy today: Asian Paints, Dr Reddy’s among top 6 trading ideas for 30 June 2024
Indian market expected to consolidate following weak global cues. Nifty futures closed down at 22731 levels. Options data indicates a trading range of 22500 to 23000. Experts recommend buying Jubilant FoodWorks, Torrent Pharma, Hindalco, Dr. Reddy's Labs, Asian Paints, and Exide Industries with specified targets and stop losses.
PNC Infratech likely to improve performance on order strength
The company's financial performance in the March 2024 quarter was lower than the Street's estimates. The company's standalone revenue increased by 10.8% year-on-year to Rs 2,342 crore.
Ahead of Market: 10 things that will decide D-Street action on Thursday
The Nifty experienced a decline of 183 points, closing near the 22,700 level, and formed a "dark cloud cover" candlestick pattern, a bearish signal. The Indian market saw its worst session in nearly three weeks on Wednesday, dragged down by losses in heavyweight financials and IT stocks.
Silver continues to glitter, hits lifetime high of Rs 97,100 per kg
Silver prices hit a lifetime high levels of Rs 97,100 in the local market on Wednesday, while gold prices rose Rs 250 in line with strong trends in the overseas markets, according to HDFC Securities.
Modi 2.0: Gold ETFs’ AU M jumps 565% to Rs 32,800 crore in 5 years, folios rise by 1,483%
Gold ETFs in India experienced a staggering 565% increase in assets under management (
F&O stocks to buy today: Exide, Asian Paints among top 6 trading ideas for 29 May 2024
Indian market likely to trade lower on Wednesday with Nifty future closing negative at 22,925 levels. India VIX up by 4.36%. Options data suggests broader trading range between 22,500 to 23,300 zones.
GIFT Nifty down 80 points; here's the trading setup for today's session
"Nifty has been consolidating in a broad range for the third consecutive day as investors remain watchful ahead of the big election outcome next week. We expect the Nifty to remain sideways to marginally positive on the back of reduced FII selling, prediction of above normal monsoon and last leg of Q4 results," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Ahead of Market: 10 things that will decide stock action on Wednesday
After gyrating between gains and losses during the day, the 30-share BSE Sensex ended 0.29% lower at 75,170.45. Nifty formed a bearish candle on the daily scale. The index is trading above its key moving average supports and the RSI on the daily chart is positive.
Tech View: Nifty consolidating around Mt 23k for 3 days. What traders should do
Analysis of OI data reveals that the call side exhibited the highest OI at the 23,000 strike price, followed by 23,500 strike prices, whereas on the put side, the highest OI was observed at the 22,500 strike price.
Silver surges Rs 3,100 to Rs 95,950 per kg; gold rises Rs 130
Silver rallied strongly by Rs 3,100 to Rs 95,950 per kg in the national capital on Tuesday, while gold went up Rs 130, in line with strong global trends.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Nifty on Monday ended 25 points lower to form a minor bearish candle on the daily chart. The up move was not supported by the momentum as on the hourly time frame there is a negative crossover, analysts said.
Ahead of Market: 10 things that will decide stock action on Monday
Indian blue-chip equity indices ended flat on Friday, with NSE Nifty 50 and S&P BSE Sensex gaining 2.2% and 2.02% for the week, led by financials and metal stocks.
Tech View: Nifty forms Doji candle. What traders should do next week
Nifty on Friday ended near the flatline after climbing the 23,000-mark for the first time in history. The index formed a Doji candle during the day after Thursday’s big bull candle.
Indian rupee rallies to two-month high on likely dollar inflows
The Indian rupee rose to a two-month peak on Friday, boosted by likely strong dollar inflows into domestic equities even as most Asian currencies declined pressured by a rise U.S. bond yields.
Rupee gains by most in 5 months on stocks, RBI dividend
The rupee rose as much as 0.3% to 83.03 against the dollar on Friday, the most since December 15, as markets reopened after being shut on Thursday.
Ahead of Market: 10 things that will decide D-Street action on Friday
Financial stocks powered up Indian blue-chip indices on Thursday, taking them to all-time highs. Short-term moving averages are expected to support the indices on any decline. Nifty formed a long bull candle on the daily chart. The MACD showed bearish signs on the counters of Vadilal Industries, Bharat Rasayan, Godrej Properties, Maithan Alloys, Mrs Bectors Food Specialities, Astral, and Ajanta Pharma.
Sell Tata Elxsi, target price Rs 6435: HDFC Securities
Tata Elxsi Ltd. key Products/Revenue Segments include Software Development Charges and Traded Goods for the year ending 31-Mar-2023.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Domestic IT firms advanced on Wednesday with an eye on rate cut clues from the upcoming Federal Reserve minutes. Consumer stocks and RIL supported gains. NSE rose for five days in a row and settled above 22,500 points. Nifty formed a bullish candle with a long tail, indicating strong buying interest. Tata Steel, Coal India, HDFC Bank, SBI, ONGC were among most active stocks in volume terms
Rupee closes tad higher, off six-week peak on importers' dollar demand
The Indian rupee ended slightly stronger on Wednesday after dollar demand from local importers prompted the currency to shed gains from a six-week high hit earlier in the session.
Indian equities traders seek cues from election shadow bets
Weeks before vote counting set for June 4, stock markets are closely tracking shadow-betting platforms that are flourishing nationwide, with wagers now suggesting the ruling Bharatiya Janata Party (BJP) will win a slimmer majority than expected.
GIFT Nifty up 10 points; here's the trading setup for today's session
"Despite FIIs selling and India Vix at elevated levels, markets have stabilized and we expect a gradual up-move going forward. Key events to watch this week – UK inflation data, US Existing Home Sales number and FOMC meeting minutes," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
Metal stocks rally on China's realty stimulus, LME gains
Hindustan Zinc surged 20%, followed by Vedanta which gained 7.04%. Jindal Steel and Power and Hindalco moved up over 4%, while Tata Steel, JSW Steel, and Hindustan Copper rose over 3% each.
Gold trade urges introduction of hallmarking for 9-Carat gold amid record prices
The gold trade has called for hallmarking and HUID numbers to be introduced for 9-carat gold amid record-high prices of both gold and silver, making them unaffordable for many. Silver reached ₹92,444 per kg and gold approached ₹75,000 per 10 gm in Mumbai's Zaveri Bazaar. Officials from the India Bullion & Jewellers Association (IBJA) met with BIS executives to discuss the matter. IBJA emphasized that allowing hallmarking for 9-carat gold could enable consumers to purchase heavier jewellery within their budgets.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
Benchmark equity indices recovered to close flat on Tuesday, with gains in metal stocks offsetting declines in other sectors following top consumer China's property-support measures.
Tech View: Nifty stuck between 22,400-22,600. What should traders do on Wednesday
The index manages to hold above 20 and 50-day SMA — a positive signal. An analysis of Nifty put options reveals a concentration of Open Interest at the 22,400 level, implying potential support at this level. The important key takeaway from the Nifty chart is that it is making a higher high both on the daily and weekly charts.
Rupee lingers close to near one-month high, forward premiums slip
Indian rupee at 83.3250 vs U.S. dollar, near 1-month high, faces hurdles from importer demand. Traders wary of equity outflows. Dollar index at 104.6. Korean won falls. U.S. bond yields rise. Fed cautious on inflation, hints at rate cuts by 2024.
GIFT Nifty down 40 points; here's the trading setup for today's session
The rupee appreciated 13 paise to close at 83.37 against the US dollar on Friday, tracking positive sentiment in domestic equity markets and fresh foreign fund inflows.
Ahead of Market: 10 things that will decide stock action on Tuesday
Indian shares closed marginally higher in a special session conducted on Saturday for stock exchanges to test a failsafe system for equity trading.
Silver bullet for your investment woes! 11% returns in May outclass gold, Sensex, Bitcoin
Silver shines amid market volatility, outpacing gold, Sensex, and Bitcoin. Industrial demand, Fed rate cut hopes fuel rally. Analysts bullish. Corrections possible, strategic buying advised.
Tech View: Nifty forms Piercing Line candle on weekly charts. What should traders do next week
Nifty is expected to move towards the upper range of 22800 levels in the next 1-2 weeks. Immediate support is placed at 22200 levels, said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities.
Pre-market action: Here's the trade setup for today's session
"Overall, we expect markets to witness a gradual recovery. However, concerns regarding consistent FII selling, India VIX still above 20 levels, ongoing general election polling and the outcome could keep volatility higher," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
Ahead of Market: 10 things that will decide D-Street action on Saturday
Auto and metal stocks helped Indian benchmark equity indices on Friday log their best week since early February. The market would be open this Saturday as part of a disaster recovery exercise. MACD showed bullish trade on the counters of Bharat Rasayan, Lux Industries, Data Patterns, TeamLease Services. Tata Steel, Tata Motors, SBI, ONGC were the most traded stocks.
Tech View: Nifty forms High Wave candle. What should traders do on Saturday
After recouping losses of previous week, Nifty is now targeting to reclaim the lifetime high zone. The short-term trend of Nifty is positive and the next upside levels to be watched are around 22,700-22,800 levels.
Silver trades at record high for second day in Delhi; gold falls Rs 150
Extending the record-breaking run to the second day in a row, silver prices hit lifetime high level of Rs 89,000 in the local market on Friday, even as gold prices fell Rs 150 to Rs 73,900 per 10 grams in line with firm trends in the overseas markets.
F&O stocks to buy today: RIL, Axis Bank among top 9 trading ideas for 17 May 2024
Indian market is expected to rise Friday on positive global cues. Nifty futures are up 0.84% at 22473. Options data suggests a broader range of 21800-22800.
Ahead of Market: 10 things that will decide D-Street action on Friday
Domestic benchmark equity indices advanced on Thursday, led by heavyweight banking and IT stocks. Nifty formed a small Hanging Man pattern on the daily chart. Tata Motors, HDFC Bank, RIL, M&M, SBI, ICICI Bank and Bharti Airtel were among the most active stocks.
Tech View: Nifty forms small Hanging Man candle. What traders should do on Friday
On the call side, there are notable OI concentrations at the 22,500 and 22,900 levels, suggesting these as resistance levels to watch, with the 22,900 level approaching all-time highs.
Silver surges Rs 1,800 to hit all-time high; gold jumps Rs 650
Silver soared by Rs 1,800 to hit a fresh record high of Rs 88,000 per kg on Thursday, while gold prices jumped Rs 650 to Rs 74,050 per 10 grams in line with strong global trends.
Rupee gains but lags behind Asian peers, forward premiums rise
The rupee was at 83.46 against the U.S. dollar as of 09:40 a.m. IST, up from its previous close at 83.50.
F&O stocks to buy today: Tata Steel, ACC among top 9 trading ideas for 16 May 2024
On the weekly options front, the maximum Call OI is placed at 22500 and then towards 22300 strikes while the maximum Put OI is placed at 22000 and then towards 22200 strikes.
GIFT Nifty rises 120 points; here's the trading setup for today's session
"We expect the market to consolidate in a broader range as the election polling progresses and the result season nears the end," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
Ahead of Market: 10 things that will decide D-Street action on Thursday
Sensex, Nifty snapped a 3-day winning run on Wednesday, dragged by HDFC Bank and consumer stocks. Seven of the 13 major sectors declined. Tata Motors, Coal India and Tata Motors were among most active stocks in volume terms. Nifty formed a high wave type candle on the daily chart.
Tech View: Nifty forms high wave type candle. What traders should do on Thursday
Nifty ended 17 points lower on Wednesday and traded sideways. Thereby, it failed to show any significant directional breakout. Move above the immediate resistance of 22,300 level may make room for higher target of 22,600 level.
Rupee inches up on foreign banks' dollar sales, uptick in Asia FX
The dollar index was down 0.1% at 104.9, while most Asian currencies rose. The offshore Chinese yuan was up nearly 0.2%, while the Philippine peso was up 0.4%, leading gains.
F&O stocks to buy today: Biocon, TVS Motor among top 9 trading ideas for 15 May 2024
In the weekly options segment, the highest Call Open Interest (OI) is positioned at 22500, followed by 22300 strikes. Conversely, the highest Put Open Interest (OI) is situated at 22000, with additional concentration towards 21900 strikes.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
Nifty settled at 22,218, while the Sensex ended 0.45% higher at 73,104 on Tuesday. Nifty is approaching the hurdle zone around 22,300 after two days of rebound. MACD showed bullish trade on the counters of Honeywell Automation, HG Infra Engineering, BEML, and Symphony.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Blue-chip NSE Nifty 50 advanced 0.22% to 22,104 points, while the S&P BSE Sensex added 0.15% to 72,776. Nifty formed a hammer candle on the daily chart as modest buying interest from the lows of 21,821 bolstered a technical pullback
Know Your Fund Manager: Meeta Shetty, Tata Asset Management
"Over the years my role evolved into a full-fledged fund manager, overseeing both sectoral and diversified funds with a total equity AUM of around Rs 12,047 crore as on 30th April 2024 across three funds, Tata Focused Equity Fund, Tata Digital India Fund and Tata India Pharma and Healthcare Fund," said Meeta Shetty, Tata Mutual Fund.
