&w=3840&q=100)
This analyst is bullish on Media, Defence; recommends these 2 stocks
Sector Outlook: Nifty Media & Nifty Defence Likely to Outperform in the Coming Weeks
Nifty Media – Bullish Breakout Signals Upside Potential
Nifty Media has recently broken out above a key resistance level and shows potential for further upside towards 1,740, followed by 1,870. The index is trading comfortably above both the 50 EMA (Fast) and 200 EMA (Slow), reinforcing its bullish trend.
Stock in Focus: Network 18 Media
Network 18 Media is showing an attractive setup above ₹50, with an upside potential towards ₹54–₹56, provided it sustains above the support level of ₹48. The stock has formed a classic Adam and Eve breakout pattern, with the neckline at ₹49.90. A breakout above this level, supported by increasing volumes, indicates strong buying interest.
Recommendation
Buy at: ₹50 Stop Loss: ₹48 Target Price: ₹54–₹56
Nifty Defence – Still Has Fuel Left for Higher Levels
Nifty Defence still has fuel left in the tank and shows potential to move higher towards 9,500 levels. The recent retracement to the 21-EMA, followed by a strong bounce, suggests that this level will act as a key support going forward.
Stock in Focus: Cochin Shipyard
Cochin Shipyard recently broke out of an Eve pattern, and a successful throwback to the neckline is offering a fresh buying opportunity with a favorable risk-reward setup. The stock is trading above all major EMAs, indicating a strong bullish structure. Momentum indicators further support this view: RSI remains in the bullish zone, highlighting positive momentum. Directional Index (DI+) is above (DI-), and a rising Average Directional Index (ADX) confirms strength in the ongoing uptrend.
Recommendation
Buy Range: ₹1,884–₹1,890 Stop Loss: ₹1,680 Target Price: ₹2,200–₹2,500
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
SJVN shares climb 5% despite Q1 profit slump, boosted by revenue growth
SJVN shares rose 5% to Rs 97.64 during Tuesday's trading session, defying a sharp decline in the company's June quarter net profit . The rally came despite a 36% year-on-year drop in consolidated net profit, which fell to Rs 227.8 crore from Rs 357 crore in the same quarter last year. Interestingly, investors appeared to react more positively to the company's revenue performance. Revenue from operations grew 5.4% year-on-year to Rs 917.5 crore, compared to Rs 870.4 crore in the corresponding quarter of the previous year. The stock's gain suggests that the market may be focusing on the company's top-line growth and possibly pricing in expectations of a recovery in profitability in the coming quarters. Technical indicators and price action Over the past month, SJVN's stock has remained largely flat, recording a modest gain of just 1%. The stock has been trading between its 52-week low of Rs 80.50 and its 52-week high of Rs 148.85, indicating a wide trading range and past volatility. The 14-day Relative Strength Index (RSI) for SJVN stands at 39.6, placing the stock in neutral to slightly oversold territory. RSI is a momentum indicator used to gauge whether a stock is overbought or oversold. Readings below 30 suggest oversold conditions (potential buying opportunity), while readings above 70 indicate overbought levels. With an RSI near 40, there's no clear reversal signal, but it suggests the stock may be stabilizing after a dip. On the moving averages front, SJVN is trading above seven of its eight key simple moving averages ( SMAs ) from the 5-day to the 150-day indicating a short- to mid-term bullish trend. However, it remains below the 200-day SMA, which signals the longer-term trend. A move above the 200-day could further strengthen the bullish outlook. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
an hour ago
- Economic Times
Down 20% from peak, Yes Bank trading below key averages. What's the potential downside?
Yes Bank shares have declined 7% since the announcement of its Q1 earnings on July 19, notwithstanding a strong performance. The stock is currently trading below most of its moving averages, indicating a weak trend. Investors willing to make a move must be mindful of the certain caveats flagged by experts who see further downside in the medium term. ADVERTISEMENT Down by over 20% from the peak of 25.10 hit by Yes Bank on August 13, 2024, the counter has struggled in 2025. It has fallen below 10-day, 20-day, 30-day, 50-day, 100-day and 200-day simple moving average (SMA). The data pertaining to stock price is as on Monday closing. Commenting on the current trends, KKunal V Parar, Vice President - Technical Research and Algo at Choice Equity Broking said that the stock's slip below the 50-day moving average is indicating a prevailing bearish trend."Yes Bank has breached its recent support level, suggesting the potential for further downside movement. The weekly chart also confirms sustained weakness, with the stock continuing to trade in a negative territory. Moreover, the weekly RSI is hovering below the 50 mark and has formed a negative crossover, reinforcing the bearish sentiment,"Parar Choice Broking analyst anticipates further decline towards the Rs 16 level, considering the overall technical structure. He sees strong resistance is placed near Rs 21. ADVERTISEMENT Concurring to Parar's view Anuj Gupta, Director at Ya Wealth Global Research said that the overall trend of yes bank is looking weak as fundamentals do not support the current prices in his view. Gupta sees strong support at 16 followed by 12 while resistance at 24 and next resistance at 28. levels. Unlock 500+ Stock Recos on App Yes Bank's Q1 profit after tax (PAT) stood at Rs 801 crore, up 59% year-on-year and 8.5% quarter-on-quarter. It was the seventh straight quarter of PAT improvement. The net interest income grew 6% YoY to Rs 2,371 while net interest margin (NIM) was up 10 bps YoY while remaining flat on a QoQ basis. ADVERTISEMENT The gross slippages for the lender increased to Rs 1,458 crore (2.4% of advances) versus Rs 1,223 crore (2% of advances) in Q4FY25. Fundamental analyst Kranthi Bathini, Director-Equity Strategy at WealthMills Securities sees the ongoing consolidation to continue with no real movement expected in the medium term. Bathini said that the stake sale in Yes Bank by the State Bank of India (SBI)-led consortium remains an overhang. ADVERTISEMENT Sumitomo Mitsui Financial Group (SMFG) is expected to buy a 20% stake in Yes Bank. On May 9, Yes Bank announced SMBC's plans to acquire a stake from SBI and other Indian banks who had participated in the banks' reconstruction scheme in 2020. The deal size is estimated at Rs 13,480 crore. Also Read: SMFG stake buy in Yes Bank to pave way for other foreign entrants in Indian banking sector: Fitch (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
2 hours ago
- Economic Times
Inox Green Energy shares jump 5% after signing agreement for 182 MW wind projects
Inox Green Energy shares surged nearly 5% to Rs 163 in Tuesday's intraday trade on the BSE after the company signed an agreement with one of India's largest conglomerates for the comprehensive operations and maintenance (O&M) of 182 MW of operational wind projects under its renewable energy arm. ADVERTISEMENT The projects, located across multiple sites in Western India, are connected to Inox Green's common infrastructure. The deal covers the conversion of limited-scope to comprehensive O&M for 82 MW of wind projects, along with the early renewal of comprehensive O&M for another 100 MW. The contract will span the entire remaining life of the project. "We are excited to announce the signing of the comprehensive O&M agreements for 182 MW with the renewable arm of one of the largest conglomerates in India. This is a milestone occasion for us as with the signing of the agreement, our entire fleet with this marquee customer is now back in our fold," said SK Mathu Sudhana, CEO of Inox Green. "This showcases the changing dynamics in the wind O&M industry and the reaffirmation of the trust which our customers are showing on our renewed capabilities,' he added.A meeting of the board of directors of Inox Green is scheduled on August 14, 2025, to consider, approve, and record the unaudited standalone and consolidated financial results for the quarter ended June 30, 2025. ADVERTISEMENT The stock's Relative Strength Index (RSI) stands at 43 (below 30 indicates oversold, above 70 overbought). The MACD is at 0.9, below both its signal and centre lines, signalling a bearish trend. Unlock 500+ Stock Recos on App Inox Green shares are currently trading above their 5-day, 10-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs). ADVERTISEMENT Year-to-date, the stock is down 7%, but it has gained 23% over the past six months. The company's market capitalisation stands at Rs 5,997 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
