Latest news with #BankNiftyIndex
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Business Standard
28-05-2025
- Business
- Business Standard
Stocks to buy today: Bullish trend seen in Titagarh Rail, Cholamandalam Fin
Nifty trading strategy, Nifty Options data The Nifty Index opened on a negative note and witnessed highly volatile swings on Tuesday. The session turned into a roller-coaster ride with sharp and fast moves on both sides during the first half. In the latter half, the index gradually drifted lower in a slow and steady manner, eventually closing with losses of around 170 points, near the 24,820-mark. On the daily chart, Nifty share price has formed a bearish candle with wicks on both ends, indicating selling pressure at higher levels, while buying interest near the lower zones. Now it has to cross and hold above 24,900 zones for an up move towards 25,100, followed by 25,200. Else, weakness could be seen towards 24,700 and 24,600 zones. Further, as per the Nifty Options data, Maximum Call OI is at 25,000 and then at 25,500 strike, while Maximum Put OI is at 24,500 and then at 25,000 strike. Call writing is seen at 24,800, followed by 24,900 strike, while Put writing is seen at 24,400 and then 24,800 strike. Option data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range lies between 24,600 to 25,000 levels. Bank Nifty Outlook The Bank Nifty Index formed a high wave candle on the daily scale on Tuesday as the buying is visible at lower level support base, but the momentum is missing at higher zones. Now, it has to hold above 55,250 zone for an up move towards 55,750, then 56,000 levels. On the downside, support is seen at 55,250, then 55,000 zones. Stocks to Buy Today for Upside, May 28: Buy Cholamandalam Investment and Finance stock | CMP: ₹1,665 | Stop Loss: ₹1,610 | Share price target: ₹1,775 Cholamandalam Investment stock has formed a bullish 'cup and handle pattern' near the all-time high zones, suggesting an upward trend. It is respecting its 50-DEMA with slight dips being bought into. The RSI indicator is rising which confirms the positive momentum in Cholamandalam Investment share price. Tata Chemicals share price has broken out of a consolidation zone on the daily scale with higher than average traded volumes. The MACD is positively placed which has bullish implications. Titagarh Rail Systems share price has formed a 'pennant' pattern on the daily scale, which suggests a continuation of the uptrend. The ADX line is rising, which confirms the strength of the uptrend. Disclaimer: This article is by Chandan Taparia, head derivatives & technicals, wealth management at Motilal Oswal Financial Services. Views expressed are his own.
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Business Standard
14-05-2025
- Business
- Business Standard
Nifty outlook, stocks to buy today: Chandan Taparia's trading guide, May 14
Nifty share price: The Nifty index opened on a slightly negative note on Tuesday, and witnessed volatile swings on both sides during the first hour of trade. Until midday, the buy-on-dips strategy was working well as the index took support multiple times near the 24,700 zone. However, in the second half, Nifty share price slipped below the 24,700 mark, indicating profit booking after a sharp rally of over 900 points in the previous session. The break below the support level suggests some cooling off in momentum, though the broader trend still remains positive. It has formed a bearish candle on the daily frame and has formed higher lows over the last two trading sessions. Nifty share price has to cross and hold above 24,750 zone for an upmove towards 25,000 then 25,200 zones. Nifty supports are placed at 24,500, and then 24,350. On the options front, Maximum Call OI is at 25,000, followed by 25,500 strike, while Maximum Put OI is at 24,000, followed by 23,500 strike. Call writing is seen at 25,000 and 24,800 strike, while Put writing is seen at 24,200 and 24,000 strike. Option data suggests a broader trading range between 24,100 to 25,100 zones, while an immediate range between 24,400 to 24,800 levels. Bank Nifty share price Bank Nifty Index opened marginally lower but remained highly volatile in a wider range of 500 points, between 55,000 to 55,500 zones in the initial hour of the session. Later, Index failed to hold the 55,250-zone and gradually drifted lower towards 54,900 levels in the latter part of the session. It formed a small bearish candle on daily scale as some cool off was seen from higher zones and closed near 55,000 zones. Now it has to cross and hold above 55,000 zones for a bounce towards 55,555, followed by 55,750 levels while on the downside support is seen at 54,750 and 54,500 zones. Stocks to Buy for Upside, May 14: Buy MAX HEALTH CARE | CMP: ₹1,172 | Stop Loss: ₹1,130 | Share price target: ₹1,249 Max Health share price has given a 'falling supply trend line' breakout on the daily chart and managed to close above the same. Momentum indicator RSI is positively placed, which has bullish implications. Buy CITY UNION BANK | CMP: ₹190.74 | Stop Loss: ₹185 | Share price target: ₹200 CUB stock has given a 'flag' breakout on the daily chart and formed a strong bullish candle. The breakout is supported by a surge in volume, which has bullish implications. MACD indicator is headed up to confirm the bullish momentum. Buy BEL | CMP: ₹335 | Stop Loss: ₹328 | Share price target: ₹350 BEL share price has given a 'trendline' breakout on the daily chart and is trading near life highs. Buying is visible across defence stocks which may support the ongoing up move. ADX line is rising, which confirms the strength of the uptrend.
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Business Standard
07-05-2025
- Business
- Business Standard
Bharti Airtel, Polycab: Chandan Taparia of MOFSL picks these stocks to buy
Nifty Index opened positive but failed to hold its opening levels above 24,500 zones and sank sharply by 130 points in the first hour. It was followed by the index moving in a very narrow band of around 50-60 points for the rest of the day. It formed a bearish candle on daily frame to close with losses of around 80 points and has started to form lower highs from the last two sessions. Now it has to cross and hold above 24,400 zones for strength to regain towards 24,650 then 24,750 zones while supports can be seen at 24,200 then 24,050 zones. On option front, Maximum Call OI is at 24,500 then 25,000 strike while Maximum Put OI is at 24,400 then 24,000 strike. Call writing is seen at 24,400 then 24,500 strike while Put writing is seen at 24,400 then 24,200 strike. Option data suggests a broader trading range in between 23,800 to 24,800 zones while an immediate range between 24,100 to 24,600 levels. Bank Nifty Index opened on a flattish note but failed to hold 55,000 zones and gradually drifted lower towards 54,200 zones in the latter part of the session. It formed a Bearish candle on daily scale as selling pressure is seen at higher zones to close with losses of around 650 points below 54,300 zones. Index has seen a decent profit booking of more than 2000 points in last few sessions as some pause is seen at higher zones. Now till it holds below 54500 zones weakness could be seen towards 54,000 then 53,750 levels while on the upside hurdle is seen at 54,500 then 54,750 levels. Stock recommendations Buy BHARTIARTL | CMP ₹1902 | SL ₹1860 | TGT ₹1980 Bharti Airtel Stock has retested its breakout from a consolidation zone and headed up with higher than average traded volumes. The ADX line is rising which confirms the strength of the uptrend. Buy POLYCAB | CMP ₹5909 | SL ₹5725 | TGT ₹6310 Polycab share price has broken out from an ascending triangle pattern on the daily chart and closed above its 100 DEMA. The MACD line is rising which confirms the bullish momentum. Here are the Top STOCKS TO WATCH Today Oberoi Realty stock has breached below its key support levels on the daily chart with a large bodied bearish candle. The Stochastic indicator is declining which confirms the bearish sentiment. (Disclaimer: This article is by Chandan Taparia, head derivatives & technicals, wealth management at Motilal Oswal Financial Services. Views expressed are his own.)
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Business Standard
30-04-2025
- Business
- Business Standard
TECHM, BEL, JSWENERGY: Top picks by Chandan Taparia of MOFSL; check targets
The Nifty Index opened positive and continued buying interest in the first tick but failed to hold above 24,450 levels and consolidated within a narrow band for the rest of the day. It moved inside the range of the first hour and managed to close above 24,300 marks. It formed a small bodied bearish candle on a daily frame but has started to form higher lows from the last two sessions. Now it has to hold above 24,200 zones for an up move towards 24,500 then 24,650 zones while supports have shifted higher towards 24,200 than 24,050 zones. On option front, Maximum Call OI is at 24,500 then 25,000 strike while Maximum Put OI is at 24,300 then 24,000 strike. Call writing is seen at 24,400 then 24,500 strike while Put writing is seen at 24,300 then 24,400 strike. Option data suggests a broader trading range in between 23,800 to 24,800 zones while an immediate range between 24,100 to 24,500 levels. Bank Nifty Index opened on a positive note and strong momentum was seen towards 55,957 marks in the first hour of the session. However, it failed to hold at higher zones and drifted lower towards 55,300 zones and remained volatile in the latter part of the day. It formed a small bodied candle on daily scale as buying is visible at lower levels but momentum is missing at higher zones. Now it has to hold above 55,250 zones for an up move towards 56,000 then new life high towards 56,500 zones while on the downside supports are seen at 55,250 then 55,000 levels. Stock recommendations Buy TECHM | CMP ₹ 1,495 | SL ₹ 1,445 | TGT ₹ 1,600 Tech Mahindra Stock has broken out of a rounding bottom pattern with higher than average traded volumes. It is surpassed above its 50 DEMA with the RSI indicator rising to confirm the bullish momentum. Buy BEL | CMP ₹ 317 | SL ₹ 305 | TGT ₹ 340 BEL Share Price has given a range breakout on the daily chart with a surge in buying volumes visible. It is respecting its 50 DEMA with slight dips being bought into. The MACD indicator is rising which confirms the positive sentiment. ALSO READ | PSU defence stock up 4% on heavy volumes; nears record high. Do you own? Sell JSWENERGY 29th May FUT | CMP ₹ 468 | SL ₹ 483 |TGT ₹ 434 JSW Energy Stock has breached below its key support levels on the daily scale with a strong bearish candle. The RSI indicator is declining which confirms the downward momentum.
Mint
28-04-2025
- Business
- Mint
Stocks to buy or sell under ₹100: Experts recommend five intraday stocks for today — 28 April 2025
Stocks to buy or sell under ₹ 100: After a positive start supported by favourable global cues, the Indian stock market witnessed sharp selling on Friday. This was on account of profit booking, which came in as cross-border tensions between India and Pakistan escalated following the terrorist attacks in Pahalgam, Kashmir. The Nifty 50 index crashed 207 points and closed at 24,039. The BSE Sensex shed 588 points and finished at 79,212. The Bank Nifty index ended 537 points lower at 54,664. All the sectoral indices, barring Nifty IT, are closed in red. Realty and Financial services indices were the top losers, falling by nearly 3% each. On the positive side, FII buying continued for the seventh consecutive session with inflows of around ₹ 8,250 crores on Thursday. Further, news flows indicated some softness in the US-China tariff war, while India is expected to be closer to signing a trade deal with the US. Geopolitical developments between India and Pakistan could add volatility to the Indian market over the next few days. Speaking on the outlook of the Indian stock market, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, "Geopolitical developments between India and Pakistan could add volatility to the Indian market over the next few days. Meanwhile, stock/sector-specific action would continue after ongoing Q4 earnings announcements. Key results this week include those from large-caps like Ultratech Cement, Bajaj Finance, Trent, and Ambuja Cement, amongst others." On the outlook of the Nifty 50 today, Rajesh Bhosale, Equity Technical Analyst at Angel One, said, "Following an impressive 12% rally from April's swing lows, Nifty had entered the overbought territory, correcting likely. Given the strong uptrend, a time-wise correction seemed more probable, but the geopolitical uncertainty led to a sharper price correction. Despite this, the overall structure remains positive. By surpassing the February-March swing highs, Nifty has confirmed a strong bullish breakout on the charts. The breakout zone around 23900–23800 provided crucial support on Friday and continues to act as a key pivotal level. If geopolitical tensions escalate or this support is breached, a deeper correction towards the 23500–23300 zone could unfold. On the upside, while the broader trend remains bullish, immediate resistance is seen at 24250–24350. A move above this zone would confirm a continuation of the primary uptrend. Traders should stay cautious and monitor these key levels, as the next leg of the move may not be as smooth as the recent rally." Asked about the outlook of the Bank Nifty Index, Om Mehra, Technical Research Analyst at SAMCO Securities, said, "The broader trend remains firmly bullish, as the index holds above all key moving averages. After a strong upward trajectory, Nifty Bank appears poised for a healthy consolidation, which could establish a base before its next leg higher. The support remains at 54,200, followed by the 38.2% Fibonacci retracement at 53,500. The resistance stands at 55,400. The index may remain in a broader range before any directional move." Regarding stocks to buy or sell under ₹ 100, market experts — Sumeet Bagadia, Executive Director at Choice Broking; Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher; Mahesh M Ojha, AVP — Research at Hensex Securities; and Sugandha Sachdeva, Founder of SS WealthStreet — recommended these five intraday stocks for today under ₹ 100: Restaurant Brands Asia, Lotus Eye Hospital and Institute, Patel Engineering, Canara Bank, and Shree Renuka Sugars. 1] Restaurant Brands Asia: Momentum buy at ₹ 82.22, Target Price of ₹ 88; Stop Loss of ₹ 79.34; 2] Lotus Eye Hospital and Institute: Momentum buy at ₹ 74.17, Target Price of ₹ 79.28; Stop Loss of ₹ 71.5. 3] Patel Engineering: Buy at ₹ 45, Target ₹ 48, Stop Loss ₹ 44. 4] Canara Bank: Buy at ₹ 94 to ₹ 95.50, Targets ₹ 97, ₹ 99, ₹ 101, ₹ 105, Stop Loss ₹ 92. 5] Shree Renuka Sugars: Sell at ₹ 30.30, Target ₹ 27.20, Stop Loss ₹ 31.20.
