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Mint
24 minutes ago
- Mint
Shares to buy for the short term: Jigar Patel of Anand Rathi recommends THESE 2 stocks
Shares to buy for the short term: The Indian stock market has been in corrective mode for the last few weeks due to the delayed India-US trade deal, the foreign capital outlook, and uninspiring Q1 earnings. The Sensex and the Nifty 50 have been on losing streak for the last four consecutive weeks, on a weekly basis. So far this month, both indices are down nearly 3 per cent each. Last Friday, the Nifty 50 fell almost 1 per cent to end at 24,837, falling below its critical support of 25,000. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, underscored that the Nifty's reversal from 25,250 has brought it precariously close to a breakdown below the previous swing low at 24,850, a development considered negative for market sentiment. Patel pointed out that the index is now hovering around a crucial rising channel support, and a close below 24,800 could confirm this breakdown, placing the next support at 24,450 in the spotlight. A breach of the 24,450 may usher in a more pronounced corrective phase. On the upside, recapturing the 25,000 level will be essential for the bulls to regain momentum, said Patel. The expert further added that from a positioning perspective, the current long-short ratio in index futures has dropped below 15 per cent, signalling a predominance of short bets. "While this high concentration of shorts increases nervousness, it also raises the odds for a sharp short-covering rally if a positive trigger emerges. Until clearer signals appear, a cautious outlook on the broader time frame is recommended," said Patel. Jigar Patel recommends buying shares of TCS and Sun Pharma for the next two to three weeks. TCS has been on a downward trajectory since mid-May 2025, consistently forming lower highs and lower lows. This bearish structure has resulted in a correction of nearly ₹ 440 — a decline of approximately 12.32 per cent. However, the stock now stands at a technically significant zone, where both time and price confluence suggest a potential trend reversal. Historically, key pivot highs and lows in TCS have often occurred within a 25–38 day cycle. Interestingly, this window aligns with both the Lucas number (29) and Fibonacci number (34), adding credence to the time-based support. Adding to the technical outlook, a bullish Bat Harmonic Pattern is taking shape around the ₹ 3,080-3,100 mark, coinciding with the S1 quarterly floor pivot, reinforcing the likelihood of a strong base. Moreover, the MACD histogram is showing signs of exhaustion in negative momentum, with shrinking red bars indicating a possible shift in trend. "In light of these technical factors, traders may consider initiating long positions in the ₹ 3,140–3,100 zone in a staggered manner, targeting an upside move toward ₹ 3,430, with a protective stop loss at ₹ 2,965 on a daily closing basis,' said Patel. TCS technical chart Sun Pharma has formed a robust base in the ₹ 1,650–1,680 range, coinciding with the S3 Camarilla monthly pivot, signalling a key support zone. This area also aligns with a rising trendline and the lower median line of a pitchfork, creating a compelling technical confluence that could attract renewed buying interest. "The multiple support factors at play increase the probability of a bullish reversal from current levels. A decisive move above this consolidation zone could open the door for a fresh leg higher,' said Patel. Patel suggests an entry zone of ₹ 1,705–1,695 for the stock, with a target price of ₹ 1,800, and a stop loss of ₹ 1,650 on a daily closing basis. Sun Pharma technical chart Read all market-related news here
Business Standard
24 minutes ago
- Business Standard
Barometers pare losses; Nifty trades above 24,850
The headline equity benchmarks pared all early losses and traded with minor gains in the morning trade. The Nifty traded above the 24,850 mark. Realty shares witnessed selling pressure for the fifth consecutive trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex rose 57.70 points or 0.08% to 81,517.51. The Nifty 50 index added 31.40 points or 0.12% to 24,864.85. In the broader market, the S&P BSE Mid-Cap index rallied 0.60% and the S&P BSE Small-Cap index rose 0.24%. The market breadth was positive. On the BSE 2,028 shares rose and 1,664 shares fell. A total of 209 shares were unchanged. Economy: India's forex reserves dipped by $1.18 billion to $695.49 billion for the week ending July 18, data by the Reserve Bank of India showed on Friday. For the week ended July 18, foreign currency assets, a major component of the reserves, slipped by $1.201 billion to $587.609 billion, the data released on Friday showed. However, the gold reserves increased by $150 million to $84.499 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $119 million to $18.683 billion, the apex bank said. India's reserve position with the IMF declined by $13 million to $4.698 billion in the reporting week, the apex bank data showed. Result today: Adani Green Energy (up 2.12%), Apollo Micro Systems (down 2.15%), Indusind Bank (down 0.45%), Mazagon Dock Shipbuilders (down 0.75%), JK Paper (down 1.62%), KEC International (up 0.83%), Laxmi Organic Industries (up 0.12%), Mold-Tek Packaging (up 0.95%), Motherson Sumi Wiring India (down 1.01%), NTPC Green Energy (up 2.17%), Paradeep Phosphates (up 5.35%), Piramal Pharma (up 1.06%), Quess Corp (down 0.84%), RailTel Corporation of India (down 1.64%), Sanghi Industries (up 0.39%), Transport Corporation of India (down 1.37%), Thangamayil Jewellery (up 0.46%), Torrent Pharmaceuticals (down 0.09%), TTK Prestige (up 0.08%), UPL (up 0.18%) and Vijaya Diagnostic Centre (up 0.92%) will announce their quarterly results later today. Buzzing Index: The Nifty Realty index dropped 2.90% to 923.05. The index slumped 8.26% in five consecutive trading sessions. Lodha Developers (down 4.37%), DLF (down 2.8%), Prestige Estates Projects (down 2.24%), Brigade Enterprises (down 1.77%), Phoenix Mills (down 1.64%), Oberoi Realty (down 1.55%), Raymond (down 1.25%), Godrej Properties (down 1.24%) and Sobha (down 0.88%) declined. Stocks in Spotlight: ACME Solar Holdings surged 9.16% after the companys consolidated net profit stood at Rs 130.83 crore in Q1 FY26, steeply higher than Rs 1.39 crore in Q1 FY25. Revenue from operations jumped 65% YoY to Rs 510.98 crore in Q1 June 2025. Reliance Infrastructure advanced 2.32% after the company reported a consolidated net profit of Rs 59.84 crore in Q1 FY26, compared to a net loss of Rs 233.74 crore posted in Q1 FY25. Revenue from operations fell 17.86% to Rs 5,907.82 crore in the quarter ended 30 June 2025.
Mint
36 minutes ago
- Mint
Stocks to buy under ₹100: Experts recommend four shares to buy today — 28 July 2025
Stocks to buy under ₹ 100: The Indian stock market extended its selling for the second straight session on Friday. The Nifty 50 index broke below the 50-DEMA support and finished nearly 400 points lower from the weekly high at 24,837. This marks Nifty's fourth consecutive week of losses, with a weekly decline of 0.53%. On Friday, Cipla, SBI Life, and Apollo Hospitals demonstrated strength in a broadly negative market, standing out as the Nifty's top performers. Conversely, it was a tough session for financial heavyweights, with Bajaj Finance, Shriram Finance, and IndusInd Bank ending as the major losers. Trading volumes on the NSE cash market were lower by 4% compared to yesterday. Baring, Nifty Pharma and Healthcare, and all other sectoral indices ended in red. Nifty Media, PSU Banks, Oil & Gas, and Metal fell sharply, registering the steepest declines and bearing the brunt of the selling pressure. The pain was even more acute in the broader market today, with the Nifty Midcap 100 and Smallcap 100 indices significantly underperforming the benchmark. The Nifty Midcap 100 Index plunged 1.61%, while the Nifty Smallcap 100 Index plummeted 2.10%. Market breadth remained weak for the seventh day, where declining shares surpassed advancers. The advance-decline ratio on the BSE stood at 0.40, the lowest since 19 June. On the outlook of the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management, Motilal Oswal, said, "We expect the market to remain in consolidation mode amid continued uncertainty around the India-US trade deal, a mixed Q1FY26 earnings season so far, and intensifying FII outflows. Key results over the weekend include Kotak Mahindra Bank, Macrotech Developers, and CDSL, amongst others." Speaking on the outlook of the Nifty 50 today, Rajesh Bhosale, Equity Technical Analyst, Angel One, said, "The chart structure has deteriorated for the bulls. On the daily chart, the Nifty 50 had been trading within a "Rising Channel" pattern since May. However, this week's breakdown below the channel's lower boundary confirms a bearish reversal. Importantly, this breakdown is accompanied by a bearish gap, which qualifies as a "Breakaway Gap", adding further conviction to the bearish setup. Additionally, the index has broken below the 50-DEMA, a level that had previously provided strong support. This shift marks a significant change in short-term momentum for the bears. On the indicator front, the RSI Smoothened has slipped below 39, a level not seen since the April swing lows, reinforcing the weakening trend. These signals suggest the potential for deeper downside, possibly towards the 200-day SMA, which lies in the 24,200–24,000 zone. For the coming week, immediate support is placed near the 89-day EMA at 24,650, followed by the 24,500 level, which has acted as a strong base during the May–June consolidation phase. On the upside, the bearish gap and the 50-DEMA zone around 24,950–25,000 now act as immediate resistance, while the 25,250 level, the high of the last two weeks, remains a stiff barrier." Asked about the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Bank Nifty index continued with the slide with a weak candle indication on the daily chart, and once again is on the way to retest the important 50-DEMA zone near the 56,000 level, which is the crucial support. The index needs to sustain the 50-DEMA zone to keep the bias intact; otherwise, it can trigger a fresh downward slide in the coming sessions. At the same time, on the upside, Parekh added that the tough resistance barrier near the 57,300 zone needs to be breached decisively to expect fresh upward movement and strengthen the trend." Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher; Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these four intraday stocks for today — Bodal Chemicals, IOB, Hazoor Multi Projects, and DCW. 1] Bodal Chemicals: Buy at ₹ 74.40, Target ₹ 78, Stop Loss ₹ 72. 2] IOB: Buy at ₹ 37 to ₹ 38, Target ₹ 42, Stop Loss ₹ 36. 3] Hazoor Multi Projects: Buy at ₹ 39.50, Targets ₹ 41.70, ₹ 42.50, Stop Loss ₹ 38.50. 4] DCW: Buy at ₹ 79, Target ₹ 85, Stop Loss ₹ 75.
