Tech View: Nifty OI data hints runaway rally unlikely. What should traders do next week
Nifty crossed the 18,000 mark and formed a green candle with minor lower shadow, indicating a continuation of upside momentum. The momentum oscillator RSI (14) readings on the daily charts reached 70 and are now in the overbought zone. The short-term uptrend of Nifty remains intact with the market expected to reach the next resistance […]
Wipro share buyback may hide weak FY24 outlook. Should you buy, sell or hold?
Wipro’s Rs 12,000 crore share buyback program overshadowed weak Q1 FY24 revenue guidance, leading to a 3.6% surge in its shares on Friday. Analysts opined that the stock may remain stable in the short-term due to the large buyback program but may impact payout over FY24/25E, thereby not warranting a re-look. The Q1 revenue guidance […]
In spite of slow start, we will definitely achieve double digit growth in FY24: Debashis Chatterjee, LTI Mindtree
Especially in BFS, we have seen a few clients getting into a hiring freeze. So those are primarily the reasons why we did not see the ramp up that we expected earlier but at the same time, our pipeline is very strong.
Overall demand outside of BFSI continues to be healthy: Nitin Rakesh, Mphasis
Of course, we have some more work to do to get a better picture of what the remainder of the year will look like depending on the macro, but at this point we do believe that we should at least able to give a market-level growth in the direct ex-mortgage business for FY24.
IPO activity to pick up pace in 2nd half of 2023: Report
The IPO market in India has remained steady during Q1 of 2023, with four IPOs taking place during the quarter, one higher than in the same period last year. Despite the fundraising via IPOs dropping 89% YoY to $107m in line with the global trend of reduction in issue sizes, India has remained top in […]
Death Crossovers: Gujarat Gas among 4 stocks that signal bearishness
In the NSE list of stocks, four stocks with a market cap of over Rs 100 crore have been witnessing Death Crossovers, according to stockedge.com’s technical scan data. The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its […]
Market stuck in a range, investors need to persist and play within this range: Anurag Singh
So, earnings are not dropping. It is the same story that we are seeing for the last five-six quarters. Market expects that the earnings will drop.
This is the time to accumulate IT, valuations are in our favour: Varun Saboo
Midcap IT companies are doing well in comparison to their largecap counterparts, which were affected by Infosys’ weak performance. They have reported positive outcome, shown by the strong total contract value (TCV) and guidance. Hence, it is an opportune time for investors to accumulate them as valuations are currently attractive, trading below 20 times earnings.
Positive Breakout: Hindalco among 5 stocks that crossed their 200 DMAs
In the Nifty500 pack, five stocks’ prices crossed above their 200 DMAs (Daily Moving Averages) on April 27, according to stockedge.com’s technical scan data. The 200-day DMA is used as a key indicator by traders to determine the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA […]
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