Tech View: Nifty forms long bull candle to end in uncharted zone. What traders should do next week
The short-term trend of Nifty continues to be positive, and one may expect further upside in the coming week. The next upside levels to be watched are around 20,510 (50% Fibonacci projection, taken from March 23 bottom-Sept 23 top-Oct 23 bottom).
Trent becomes 5th Tata Group company to breach Rs 1 lakh-crore market cap
Trent has given multibagger returns of 109% in 2023, outperforming Nifty50 which has returned over 11% during this period. The last 12-month gains by this counter stand at 92%. Trent is trading above its 50-day and 200-day simple moving averages (SMAs), according to Trendlyne.
Bitcoin brings $40,000 into view after more than doubling in a chaotic year
MicroStrategy Inc., the largest publicly-traded corporate holder of Bitcoin, last month bought $593 million more of the token, taking its pile to roughly $6.5 billion. Michael Novogratz, founder of Galaxy Digital Holdings Ltd., on Wednesday said Bitcoin a year from now may reach its 2021 peak of almost $69,000.
Early Christmas party? What exit poll results, GDP data mean for stock investors
While the Q2 GDP growth rate at 7.6% surpassed all expectations, Street favourite BJP is seen winning the key Hindi belts of Rajasthan and Madhya Pradesh. Historically, too, December has been dominated by bulls as in the last 12 years, Nifty has ended in the green on seven occasions.
Barclays, Citi raise India’s growth closer to 7% after GDP beat
Barclays Plc and Citigroup Inc. predict the economy will now expand 6.7% in the fiscal year ending in March, up from previous forecasts of 6.3% and 6.2%, respectively. Several other analysts also bumped up their estimates.
Fundamental Radar: What makes multibagger Anup Engineering worth owning in a portfolio? Sandeep Raina explains
Nuvama Professional Clients Group is bullish on the company and believes that it’s a stock one should have in their portfolio, as it’s a strong play on the capex upcycle in refining and petrochemicals, renewables, fertilisers, and green hydrogen.
Stellar Debut! Flair Writing shares list at 66% premium over issue price
The IPO of Flair Writing received a strong response from investors with nearly 46.6 times subscription at close. Flair Writing is among the top three players in the overall writing instruments industry and occupies a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 2023. Its […]
Hot Stocks: Brokerages view on Bajaj Auto, LTIMindTree, NTPC and TCS
UBS maintained a sell rating on Bajaj Auto with a target of Rs 5600. e-3W transition dilutive to margins and market share. The global investment bank is of the view that the market is overly confident about Bajaj Auto’s e-3W market share and looted margins.
Value Picks! 8 largecap stocks with below industry PE levels that can rally up to 27%
Low PE stocks are considered as value stocks, which are best suited for long-term investment horizons. TCS, Infosys, SBI, Tata Motors, and Avenue Supermarts are trading at lower PE than their respective industry PE, according to Trendlyne data. Meanwhile, these stocks belong to different industries and can rally up to 27%, Trendlyne data suggested.
F&O stock strategy: How to trade in Grasim, Axis Bank and LTIMindtree?
Rupak De, Senior Technical analyst at LKP Securities said the mood will remain upbeat as long as the Nifty stays above 20,000 and will weaken only if there’s a drop below 20,000. In his view, the Put writers will defend this level. For traders, a buy-on-dips strategy is recommended, he said, estimating the resistance at […]