Latest news with #Bhojane
Mint
2 days ago
- Business
- Mint
Indian stock market: Nifty 50 above 24,400 level. Can it rise further this week?
Stock market today: Indian benchmark stock indices inched higher on Monday, following six straight weeks of losses. However, overall sentiment is likely to stay muted due to uncertainty surrounding possible U.S. tariffs on Indian exports. As of 9:44 am, the BSE Sensex had risen 54 points, or 0.07 per cent, to 79,912, while the Nifty50 was up 15 points, or 0.06 per cent, at 24,378. Last week, the Nifty and Sensex each declined by nearly 1%, extending their longest weekly losing streak in five years, as concerns over U.S. tariffs and lacklustre corporate earnings weighed on market sentiment. U.S. President Donald Trump has announced a 50% tariff on Indian imports, with half already implemented and the remaining 25%—imposed as a penalty for India's purchase of Russian oil—scheduled to take effect on August 28. Market participants are now focused on the August 15 meeting in Alaska between Trump and Russian President Vladimir Putin, where discussions are expected to centre on finding a possible resolution to the war in Ukraine. " Indian equity indices ended the week on a weak note, reacting to a combination of global uncertainties and sustained foreign fund outflows. The Nifty 50 slipped below the crucial 24,400 mark, closing at 24,363.30, down 232.85 points or 0.95%, while the Sensex declined 765.47 points or 0.95% to settle at 79,857.79. Concerns over elevated global interest rates, weak global market cues, and consistent profit-booking in heavyweight sectors continued to weigh on investor sentiment throughout the week, said Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking Private Limited. Bhojane believes that the Nifty has now formed six consecutive red candles on the weekly chart — a rare and notable pattern that indicates sustained selling pressure. ' The index is approaching a key support zone of 24,200–24,000, which also aligns with the 100-day EMA on the daily chart. Any reversal near this zone could present a strong buying opportunity. On the upside, immediate resistance is placed at 24,590, and a decisive close above this level may open the path towards 25,000 and 25,250 in the short term. A breakout on either side will likely determine the next decisive move in the index,' Bhojane said. Last week, Banking stocks tracked the overall market downturn and finished the week lower, with the Bank Nifty falling below the key 55,000 level. The index ended at 54,904.90, down 612.70 points or 1.10%. Persistent selling in major private sector banks, coupled with weak global cues, weighed on investor sentiment. After a period of strong performance, the Bank Nifty is now exhibiting initial signs of fatigue near its recent peaks. ' From a technical standpoint, the index is taking support at the 20-EMA and is currently retesting the critical 54,900–55,000 zone. On the daily chart, the price is also holding above the 100 EMA, which stands near 54,935 — making it an immediate and crucial support level. A sustained move above this zone could trigger fresh buying momentum with upside potential towards 55,600–56,000. The next directional move will depend on how the index reacts around these pivotal levels,' he added. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
5 days ago
- Business
- Economic Times
Swiggy shares crack 27% YTD. What's behind the fall and should you stay invested?
Swiggy shares have fallen this year due to poor financial results. The company is experiencing losses despite revenue growth. Analysts are observing potential signs of recovery in the stock. Key resistance levels are being monitored. A breakout above Rs 425 could lead to further gains. Investors should watch for a possible uptrend. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads What should investors do now? Tired of too many ads? Remove Ads Shares of food delivery major Swiggy have declined 26.75% year-to-date, weighed down by back-to-back weak quarterly results and sustained losses despite solid revenue stock has taken a sharp fall, reflecting investor concerns over profitability, aggressive spending, and rising operational costs. Although the stock has recovered partially since then, it continues to trade below key resistance Q1FY26, Swiggy reported a net loss of Rs 1,197 crore, compared to Rs 611 crore in the year-ago period. Revenue rose 54% year-on-year to Rs 4,961 crore, but total expenses surged 60% to Rs 6,244 crore, led by higher delivery-related costs (Rs 1,313 crore), advertising spends (Rs 1,036 crore), employee benefits, and logistics costs in the quick commerce results followed a disappointing Q4FY25, where the company had posted a net loss of Rs 1,081 crore, nearly double the Rs 554 crore loss in the same quarter last year, despite a 45% increase in revenue to Rs 4,410 management attributed the higher losses to scale-driven expansion across verticals, reiterating its long-term focus on sustainable profitability. CEO Sriharsha Majety said the company's 'continued investments aligned to its vision of creating convenience at scale.'Despite the weak earnings, technical analysts are witnessing signs of Gandhi, Sr. Research Analyst (Technicals) at SMC Global Securities , noted that Swiggy has rallied approximately 20–26% from its lows and is currently trading in a consolidation range of Rs 375 to Rs added that the stock is now approaching its 200-day Exponential Moving Average (EMA) on the weekly charts, located between Rs 420 and Rs 425.'A sustained breakout above this level could open the door for further upside toward the Rs 450–Rs 470 zone,' Gandhi said, cautioning that a failure to break this resistance, coupled with a slip below Rs 370, may trigger renewed selling Bhojane, Senior Equity Research Analyst at Choice Broking, offered a similarly constructive view, stating that 'Swiggy is currently trading at Rs 396 and is consistently forming higher highs and higher lows, indicating a strong uptrend.'He added that the stock is taking support from all key EMAs — 20, 50, and 100 — and that 'if the stock manages to close and sustain above Rs 400, it has the potential to rally towards Rs 440 and Rs 480 levels.'Bhojane also pointed to improving technical indicators, noting that 'the RSI is at 51.25 and trending upward' and that 'the Stochastic RSI is in the oversold region and showing a positive crossover.'He recommended using Rs 375 as a stoploss and considered any dip near Rs 385 a buying Swiggy continues to face challenges on the profitability front due to its investment-heavy growth strategy, the stock has shown early signs of technical now, analysts advise investors to monitor key levels, particularly the Rs 420–Rs 425 zone, which could determine whether the recent recovery turns into a more sustained uptrend.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
29-07-2025
- Business
- Economic Times
TCS slumps 33% from peak. Is the correction an opportunity in disguise?
Tata Consultancy Services (TCS), India's largest IT company, is facing a sharp disconnect between its fundamentals and its stock price. The stock has plunged nearly 33% from its lifetime high, falling 25% in 2025 alone — even as the company posted better-than-expected Q1FY26 earnings and announced steady dividend payouts. ADVERTISEMENT From a technical standpoint, the stock is under significant pressure. 'TCS has broken below a rising trendline on the weekly chart with strong volumes, which signals intensified selling pressure,' said Mandar Bhojane, Equity Research Analyst at Choice Broking. 'The RSI is down to 28.8, which puts the stock in oversold territory, but the downward trend remains intact for now.' Bhojane advises investors to wait for signs of a reversal before entering. He sees immediate support at Rs 3,000 and Rs 2,800, with a potential upside to Rs 3,500–3,800 if a recovery sets Vithlani, Technical Analyst at Bonanza, also points out that TCS is nearing its October 2022 lows — a critical support zone. 'Long-term investors can consider staggered accumulation between Rs 3,060 and Rs 3,000 with a stop loss at Rs 2,900. The next bounce, if it comes, could aim for Rs 3,270 and Rs 3,415,' he said. ADVERTISEMENT TCS reported a net profit of Rs 12,760 crore for Q1FY26, up 6% year-on-year and above Street expectations. Revenue rose 1.3% YoY to Rs 63,437 crore, but the constant currency figure declined 3.1%, mainly due to a sharp ramp-down in the BSNL expanded 30 bps sequentially to 24.5%, and net cash from operations was a healthy Rs 12,804 crore — 100.3% of net income. Attrition stood at 13.8%, indicating a relatively stable workforce environment. ADVERTISEMENT Still, the BSNL hit and ongoing macro uncertainties led to a 0.5% sequential dip in international business, a concern highlighted by several brokerages. ADVERTISEMENT Investor sentiment took another hit after TCS announced plans to lay off over 12,000 employees, 2% of its workforce, citing AI-led disruptions and weak demand in certain verticals. The layoffs, largely affecting mid- and senior-level staff, are part of what the company describes as a move toward becoming a 'future-ready' follows criticism over TCS's newly revised 'bench policy,' which puts employees under greater pressure to remain billable. Industry-wide, hiring has slowed dramatically, the top six IT firms added just 3,847 people in Q1, down 72% from the previous quarter. ADVERTISEMENT Despite the bearish chart setup and recent workforce cuts, most brokerages remain bullish on TCS, pointing to its attractive valuations and strong Oswal maintained a Buy with a Rs 3,850 target, noting that execution on BSNL remains a concern, but margin expansion and cash flows are revised its target slightly down to Rs 3,950 but expects growth to pick up as macro conditions and Nomura both lowered their targets marginally but still see upside from current levels, citing long-term visibility and cost is in a tough spot, technically weak, but fundamentally stable. While short-term momentum may continue to be negative, analysts believe long-term investors could benefit from staggered accumulation at key support question isn't whether TCS is struggling now; that's clear from the price. The bigger question is whether the correction has gone too far relative to the company's core the fundamentals hold, and the global tech cycle improves, this may indeed be one of those moments where fear creates opportunity. (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)
Mint
29-07-2025
- Business
- Mint
Stocks to buy for short term: From Paytm to Cipla — experts recommend THESE 5 technical picks for the next 2-3 weeks
Stocks to buy for the short term: The Indian stock market has been on a losing streak for the last three consecutive sessions, fueled by heavy foreign capital outflow, a delayed India-US trade deal, and weak Q1 earnings. The Sensex has crashed 1,836 points, or 2.2 per cent, while the Nifty 50 has fallen 2.1 per cent in the last three sessions. Investors have lost over ₹ 12 lakh crore in this period. On Monday, July 28, the Sensex closed 572 points, or 0.70 per cent, lower at 80,891.02, while the Nifty 50 settled at 24,680.90, suffering a loss of 156 points, or 0.63 per cent. Experts believe the market may remain weak in the near term. "The RSI continues to support the bears with its negative crossover. In the short term, the index may remain under pressure, with a possibility of slipping towards 24,550. On the higher end, resistance is seen at 24,800 and 24,950," said Rupak De, Senior Technical Analyst at LKP Securities. While the market sentiment appears fragile, experts see stock-specific opportunities across segments. Mandar Bhojane of Choice Broking and Vishnu Kant Upadhyay of Master Capital Services suggested five stocks to buy for the next two to three weeks. Take a look: Paytm has recently completed a breakout from a classic cup and handle pattern on the daily timeframe. Following this technical move, the stock is holding steady above its breakout point and gearing up for another potential rally. The increased trading volume accompanying this phase points to strong buying interest in the stock. "If Paytm can secure a close above ₹ 1,100, it may set its sights on reaching the immediate targets of ₹ 1,210 and ₹ 1,240. For prudent risk management, setting a stop-loss at ₹ 1,030 is advised, helping to cushion against any unexpected decline in price," said Bhojane. Garuda has recently broken out of a rounding bottom pattern, showing consolidation above the breakout level and is now on the verge of a fresh breakout. This move has been accompanied by a significant increase in trading volume, which signals strong bullish momentum. "If the price closes above the ₹ 185 level, it could potentially reach short-term targets of ₹ 210 and ₹ 220. To manage risk prudently, it is recommended to set a stop-loss at ₹ 170 to safeguard your investment against a possible market reversal," Bhojane said. Cipla has recently broken out of a symmetrical triangle pattern on the daily chart, accompanied by a notable increase in trading volume, which suggests strengthening bullish momentum. "If the price manages to sustain itself above the key resistance level of ₹ 1,580, the stock could aim for short-term targets of ₹ 1,700 and ₹ 1,750," said Bhojane. "The rising volume adds conviction to this breakout, indicating strong buying interest. However, to prudently manage risk, it is advisable to set a stop-loss at ₹ 1,510 to protect your investment from any unexpected market reversal or downturn," Bhojane said. Cipla has broken out of a prolonged consolidation phase with a strong bullish candle backed by rising volume, signalling aggressive buying. The stock is forming a series of higher highs and higher lows, confirming a sustained uptrend. It is trading above all key moving averages, reinforcing positive momentum. RSI is rising, indicating strength, and MACD has given a fresh bullish crossover. "The overall structure suggests strong momentum and continued buying interest," said Upadhyay. Supreme Industries broke out above a key resistance zone, signalling the start of a bullish phase. Following the breakout, it retested this zone, now acting as support, by forming a textbook double bottom pattern, reinforcing the strength of the level. The stock has resumed its uptrend, forming higher highs and lower lows. Price remains above all key EMAs, and volume expansion supports the breakout. RSI is holding above 60, and MACD has given a fresh bullish crossover, indicating sustained upside momentum. Navin Fluorine has broken out above a long-term resistance near ₹ 4,890-4,950 zone and is currently consolidating in a narrow range, indicating healthy digestion of gains and setting the stage for a potential further rally. The formation of higher highs and higher lows reflects a sustained uptrend. Price remains above all major EMAs. Rising volume during up moves, coupled with an RSI above 65 and a bullish MACD crossover, reinforces positive momentum and the structure's underlying strength. Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Mint
21-07-2025
- Business
- Mint
Indian stock market: Nifty 50 tops 25,000 level. Can it climb further in short term?
Indian stock market: Indian benchmark equity indices - Sensex and Nifty - edged higher after a muted opening on Monday, July 21, buoyed by stronger-than-expected Q1 results from major players like HDFC Bank, ICICI Bank, and Reliance Industries, which helped ease worries over global trade. By around 10 am, the BSE Sensex had gained 320 points, or 0.39 per cent, reaching 82,078, while the Nifty 50 advanced 77 points, or 0.29 per cent, to 25,043. On Friday, the Indian stock market wrapped up the week on a negative note, with the Nifty falling below the key 25,000 level. The Sensex declined by 501.51 points to settle at 81,757.73, while the Nifty dropped 143.05 points to close at 24,968.40. Global cues remained uncertain due to rising crude oil prices amid disruptions in Iraq and unclear signals regarding the U.S. Fed's rate stance, fueling inflationary concerns for oil-importing countries like India. According to Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking Private Limited, the Nifty has now entered a crucial demand zone between 25,000 and 24,770, which is expected to act as immediate support. ' Any bullish reversal from this zone could lead to a fresh rally towards 26,000 and 26,400 levels in the coming weeks. Despite the price correction, falling volume suggests that the decline lacks aggressive selling pressure, which indicates that overall trend structure remains bullish. However, RSI at 56.53 is trending downward, reflecting short-term weakness and the need for a reversal signal before any fresh long positions are initiated,' Bhojane said. Support Levels: 24900-24800 Resistance Levels: 25200-25500 Bank Nifty turned positive on Monday, July 21, rose less than a per cent or 504.80 points, touching 56,787.80. Last week, the Bank Nifty index closed at 56,283, registering a 0.83% decline from the previous week's close. ' On the weekly timeframe, Bank Nifty is trading above all its key moving averages—including the short-term 20-day, medium-term 50-day, and long-term 200-day Exponential Moving Averages (EMA)—indicating an overall uptrend. However, the sustained selling pressure at higher levels and the inability to hold above the crucial 57,000 mark suggest that the index is entering a consolidation phase. Key downside support is seen in the 56,000–55,500 zone. The Relative Strength Index (RSI) stands at 61.16 with a negative crossover, signaling a sideways to mildly bearish bias. This consolidation phase could result in either a time-wise or price-wise correction as the index awaits fresh triggers for its next directional move,' Bhojane added. He further said that the Bank Nifty index is likely to face significant resistance in the 56,500–57,000 range. If the index continues to move higher, ICICI Bank from the private banking sector is expected to support the uptrend. Similarly, in the public sector banking space, SBIN is anticipated to show strength and contribute to any potential upside. Bias- Sideways to Bearish Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
