AJIT MISHRA
Stock Radar: TCS showing signs of bottoming out; likely to reclaim 4,000 level
The IT stock hit a high of Rs 4,254 on the S&P BSE Sensex on March 18, but experienced a subsequent decline, reaching levels around 3,500 points. A rebound followed, with the stock reaching a low of approximately 3,600 points on June 4, 2024. A steady rise ensued, propelling the stock to reclaim its 50-day moving average on the daily charts — a significant technical level. A buy signal generated by the Supertrend indicator on June 27, 2024, further suggested that the upward momentum was likely to continue.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Nifty continues its upward trajectory, displaying positive chart patterns with higher tops and bottoms. According to Nagaraj Shetti of HDFC Securities, the market's bullish momentum could propel it towards the 24,400 mark in the near term, with immediate support at 23,980 levels.
Ahead of Market: 10 things that will decide D-Street action on Monday
Having moved up sharply Nifty is currently facing hurdles at the resistance of 24,000-24,100 levels. Any dip from here is likely to be a buying opportunity. Immediate support is at 23,800 levels, said Nagaraj Shetti of HDFC Securities.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
The Nifty index has broken through the 23,600 resistance level after consolidating for two weeks, setting a new record high. Analysts remain optimistic, with the next target set at 24,000.
Global trends, trading activity of foreign investors to guide movement in mkts this week: Analysts
Stock markets will take cues from trading activity of foreign investors and global trends this week with benchmark equity indices likely to face volatility amid the scheduled monthly derivatives expiry, analysts said. Moreover, factors such as the progress of monsoon and Brent crude oil would also dictate investors' sentiment during the week.
Stock Radar: IEX hits fresh 52-week high; breaks out of almost 2 years of consolidation
From Rs 144 on May 14 the IEX stock rose to Rs 170 on June 14 — an upside of over 24% in a month. The momentum fuelled a rally in the stock, which hit a fresh 52-week high of Rs 182 on June 14. After a prolonged consolidation of 2 years, it witnessed a time-wise and price-wise correction and eventually found support above 110 levels in June 2023. It quickly recouped losses and built on gains. Despite this, it failed to hold above the 170 level again in January 2024.
Will Nifty touch 24,000 this week? Top 5 factors at play
After closing the previous week with a 0.75% gain, Nifty has maintained a narrow range of 23,200-23,500. A breakout above 23,600 could spur the index towards 24,000, contingent on developments surrounding the Union Budget and ministries' 100-day plans. However, recent Nifty movements indicate a likely period of consolidation
Global trends, foreign investors' move to drive markets in holiday-shortened week, say analysts
With the absence of any major immediate domestic trigger in sight, investors would focus on global trends and trading activity of foreign investors for further cues in a holiday-shortened week ahead, analysts said. Movement of global oil benchmark Brent crude and rupee-dollar trend would also guide the market.
Who is Ajit Doval, India's longest-serving NSA, now in his third term under Modi 3.0
Ajit Doval's re-appointment as National Security Advisor for a third term in the Modi 3.0 government is a testament to his exceptional leadership and expertise in security matters. His tenure of 10 years, the longest in India's history, highlights the trust placed in him by successive governments. Doval's storied career includes key achievements such as being the first police officer to receive the Kirti Chakra and playing crucial roles in diplomacy, counter-terrorism operations, and strategic strikes. His continued role underscores the government's commitment to robust national security.
The importance of being Ajit Doval: A 3rd term for the spymaster
While a third term for Doval can be seen as part of the continuity in the Narendra Modi government in which top Union ministers have retained their portfolios, Doval's consecutive third term indicates his importance for the Modi government which has adopted aggressive posture against cross-border terrorism.
PM Modi's Principal Secretary PK Mishra, NSA Ajit Doval get 5-year extension
Prime Minister Narendra Modi granted a five-year extension to Principal Secretary PK Mishra and National Security Advisor Ajit Doval, showing continuity and experience in his core team of Union ministers. The crucial Cabinet Committee on Security (CCS) remains unchanged with key ministers continuing in their roles.
Ajit Doval appointed as National Security Advisor for third time
The government has reinstated former IPS officer Ajit Doval as the National Security Advisor (NSA) for a third term, aligning his tenure with that of Prime Minister Modi, as per an official government order. Ajit Doval, renowned as the "Spymaster," retains his position as India's longest-serving NSA. He first assumed the role in 2014 and continues to do so under Modi 3.0.
Zerodha investors booked Rs 50,000 crore profit in 4 years: Nithin Kamath
Indian markets witnessing an equity boom with investors realizing profits of Rs 50,000 crore over four years and holding unrealized profits of Rs 1 lakh crore on an AUM of Rs 4.5 lakh crore.
Stock Radar: Apollo Hospitals trading near crucial support levels; time to buy?
The stock hit a record high of Rs 6,871 on February 22, 2021, but the momentum fizzled out, leading to a steady decline that found support above the 5,700 level in May. It subsequently rebounded after repeatedly testing resistance levels above 5,730-5,750 on the weekly charts, suggesting strong support at those levels.
Nifty May poll vault above 23,110 life-high
Nifty is expected to cross its current all-time high of 23,110 early this week driven by optimism around the exit polls that is hinting at the BJP-led NDAreturning to power with a strong majority. Analysts expect short covering if Nifty holds above the 21,821 zone. Bajaj Auto, Britannia, Coal India, HDFCBank, Union Bank, Fortis, Indus Towers, Dixon and BHEL are some of the stocks recommended by the analysts for short-term trading
Beyond elections, track these 6 factors also to understand Nifty movement this week
Investors would react to not just the exit poll predictions but also India's Q4 GDP numbers which, at 7.8%, was much higher than the Street estimates. Global markets will likely react to the outcome of the PCE data in the US, the Fed's preferred gauge of inflation.
GIFT Nifty up 35 points; here's the trading setup for today's session
Tech View: "The recent decline has disrupted the positive momentum, with Nifty falling below its crucial short-term moving average, the 20 DEMA. A decisive break of the 22,400 level could trigger a further drop to the 22,000-22,150 zone. We suggest aligning trades accordingly and adopting a hedged approach," Ajit Mishra, Senior Vice President, Research at Religare Broking.
Tech View: Nifty slips below 21EMA. What traders should do on Friday
Nifty declined 216.05 points 1% at 22,488.65 on Thursday, led by strong selling pressure in most sectors. It has now reached the support cluster of 22,460–22,500, where support parameters in the form of the 20-day moving average and the 50% Fibonacci retracement level are placed.
Stock Radar: Up 50% in 6 months! Why Granules India could keep hitting record highs: Ajit Mishra
The pharma stock rose from Rs 291 on August 14 to Rs 435 recorded on February 15, which translates into an upside of about 50% in six months. It rose more than 6% in a week and over 20% in the last 3 months. The momentum helped the stock to break out from a month-long consolidation.
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