Latest news with #CARudramurthyBV
Economic Times
5 days ago
- Business
- Economic Times
Any dip towards 24,500-24,700 should be looked at as a buying opportunity: Dharmesh Shah
Live Events You Might Also Like: Stock market update: Nifty Realty index falls 0.64% in a weak market You Might Also Like: CA Rudramurthy BV on crucial Nifty levels to watch; 2 stocks to buy (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel AVP-Technical Analyst,, says the way the market breadth seems to be improving, supported by global setup, Nifty is expected to head towards 25,500 which is the upper band of the channel and should get a breakout above 25,100 and we should look for a target of 25,500 in June. Strong positional support is placed at 24,200- 24,500. Any dip towards 24,500 to 24,700 should be looked at as a buying opportunity The market has been consolidating in this range of 24,200-25,100 in the last few trading sessions, but we should not forget that we had already seen a 14% rally from the bottom of 21,800. We believe this consolidation makes the markets more healthy and we believe such consolidations are always supported by the next leg of way the market breadth seems to be improving, supported by global setup, we expect Nifty to head towards 25,500 which is again the upper band of the channel and should get a breakout above 25,100 and we should look for a target of 25,500 in June. Strong positional support is placed at 24,200- 24,500. Any dip towards 24,500 to 24,700 should be looked at as a buying if you look in the current context, the rallies are getting bigger and the falls are getting smaller and smaller. So, elongation of rallies supported by shallow retracement indicates the robust price structure. We believe any dip towards 24,500 to 24,600 should be looked at as a buying opportunity for a target of 25, you look at the market in the current context, we believe banking as a sector has been consolidating for the last six weeks after a sharp move. It has been consolidating in this range of 53,000 to 55,000. We expect the Bank Nifty should be in focus in the coming week where you also have RBI policy, so more focus towards the rate sensitive sectors.I believe we should be looking for a target of around 57,000 from the Bank Nifty perspective. Apart from banking, auto and real estate which are part of the interest rate sensitive sector should be in focus. So, banking, auto, real estate, metals are the ones where we remain you look at the market broader, when your broader market is also doing good and if you see the individual sectors, you do not see any weakness in much of any of the sectors. So, maybe, it is the only sector where you have lots of news flow floating in terms of global. That is something where you have a very mixed picture where largecaps look more comfortable compared to the midcaps. IT and pharma seem to be impacted by global news flow, and should be avoided. But otherwise one can be positive on most other sectors going Now: Help us with your stock picks. Any particular stock that is standing out for Shah: Yes, inside the metal, we remain positive on metals where HEG remains to be our top pick. If you look at the metal index, again the index is finding a support at the long-term rising trend line in metal index and also if you look particularly inside the metal, HEG remains to be our top pick where again the news flow also remains to be more positive for HEG because if you look at the most of these global players in graphite electrodes, it seems to be the penetration seems to be moving towards the steel making process which is something big for HEG. We believe HEG is one where the stock seems to be finding support at 200-week moving average supported by falling channel breakout. We expect HEG to head towards 575, 580 keeping a stop loss of 467, inside the metal space we remain to be positive from HEG, ELGI Equipment in capital good space is a company with good sets of numbers and the stock has already seen a good correction of almost 40% from the top, forming a strong base above 200-week EMA and with a falling channel breakout, we expect this stock to head towards Rs 575, 580. ELGI Equipment and HEG remain our top picks.
Time of India
5 days ago
- Business
- Time of India
Any dip towards 24,500-24,700 should be looked at as a buying opportunity: Dharmesh Shah
Live Events You Might Also Like: Stock market update: Nifty Realty index falls 0.64% in a weak market You Might Also Like: CA Rudramurthy BV on crucial Nifty levels to watch; 2 stocks to buy (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel AVP-Technical Analyst,, says the way the market breadth seems to be improving, supported by global setup, Nifty is expected to head towards 25,500 which is the upper band of the channel and should get a breakout above 25,100 and we should look for a target of 25,500 in June. Strong positional support is placed at 24,200- 24,500. Any dip towards 24,500 to 24,700 should be looked at as a buying opportunity The market has been consolidating in this range of 24,200-25,100 in the last few trading sessions, but we should not forget that we had already seen a 14% rally from the bottom of 21,800. We believe this consolidation makes the markets more healthy and we believe such consolidations are always supported by the next leg of way the market breadth seems to be improving, supported by global setup, we expect Nifty to head towards 25,500 which is again the upper band of the channel and should get a breakout above 25,100 and we should look for a target of 25,500 in June. Strong positional support is placed at 24,200- 24,500. Any dip towards 24,500 to 24,700 should be looked at as a buying if you look in the current context, the rallies are getting bigger and the falls are getting smaller and smaller. So, elongation of rallies supported by shallow retracement indicates the robust price structure. We believe any dip towards 24,500 to 24,600 should be looked at as a buying opportunity for a target of 25, you look at the market in the current context, we believe banking as a sector has been consolidating for the last six weeks after a sharp move. It has been consolidating in this range of 53,000 to 55,000. We expect the Bank Nifty should be in focus in the coming week where you also have RBI policy, so more focus towards the rate sensitive sectors.I believe we should be looking for a target of around 57,000 from the Bank Nifty perspective. Apart from banking, auto and real estate which are part of the interest rate sensitive sector should be in focus. So, banking, auto, real estate, metals are the ones where we remain you look at the market broader, when your broader market is also doing good and if you see the individual sectors, you do not see any weakness in much of any of the sectors. So, maybe, it is the only sector where you have lots of news flow floating in terms of global. That is something where you have a very mixed picture where largecaps look more comfortable compared to the midcaps. IT and pharma seem to be impacted by global news flow, and should be avoided. But otherwise one can be positive on most other sectors going Now: Help us with your stock picks. Any particular stock that is standing out for Shah: Yes, inside the metal, we remain positive on metals where HEG remains to be our top pick. If you look at the metal index, again the index is finding a support at the long-term rising trend line in metal index and also if you look particularly inside the metal, HEG remains to be our top pick where again the news flow also remains to be more positive for HEG because if you look at the most of these global players in graphite electrodes, it seems to be the penetration seems to be moving towards the steel making process which is something big for HEG. We believe HEG is one where the stock seems to be finding support at 200-week moving average supported by falling channel breakout. We expect HEG to head towards 575, 580 keeping a stop loss of 467, inside the metal space we remain to be positive from HEG, ELGI Equipment in capital good space is a company with good sets of numbers and the stock has already seen a good correction of almost 40% from the top, forming a strong base above 200-week EMA and with a falling channel breakout, we expect this stock to head towards Rs 575, 580. ELGI Equipment and HEG remain our top picks.
Economic Times
6 days ago
- Automotive
- Economic Times
CA Rudramurthy BV on crucial Nifty levels to watch; 2 stocks to buy
CA Rudramurthy BV, MD, Vachana Investments, says the crucial level to watch in Nifty is 24,500 which is a very strong support and on the higher side, 25,200 is acting as resistance. Tata Motors looks very strong. The stock has given a clear breakout above 700 zone and is showing patterns of accumulation. Rudramurthy said he would be buying Tata Motors stock available in Futures, look at initial target of Rs 780- 800 and keep a stop loss of Rs 700 on closing basis. RBL Bank is another stock which looks very strong at Rs 180-190, a lot of strong hands have accumulated the stock. Rs 250 will be my initial target, stock available in Futures. One can go long and have a stop loss of Rs 200 for RBL Bank. So, he has a buy on Tata Motor and on RBL Bank. I remember your super bullish stance on the benchmark indices in the month gone by. But before we start the new series, give us some sense of how the data is shaping up and what is your outlook. CA Rudramurthy BV: My very bullish stance worked out. You saw a thousand point move in Nifty in no time. I am now being very cautious for a very short time. Let me tell you why. If you see the market has repeatedly tested, in fact five times, it has tested the 25,100 to 25,200 level on Nifty Future and for some time it is hard now for markets to break that level. So, having seen this big 1,200 points recovery, we were at levels closer to the 23,900 when we had the geopolitical tension, India-Pakistan – the escalations and de-escalations which were happening around and I was putting that bold call that yes, market will go to 25,000 + and we saw markets going there. Now, for me the crucial level to watch in Nifty is 24,500 which is a very strong support and on the higher side, 25,200 is acting as resistance. So, give that 100 points plus or minus, and around 25,400, 25,500, you have a strong support and resistance is at 25,100, 25,200. I feel the market will now see some amount of time-wise consolidation and for a medium to longer time frame, more the time we spend in this range, it is good and healthy for a longer time frame. Similarly, if you see Bank Nifty, strong support is at 54,700 and multiple times we have seen resistance at 56,000. For me, Bank Nifty is in that range of 54,700-56,000 and Nifty is in that range of 24,400 to 25,200. Markets will be more sector specific and stock specific and it will spend some time in this range which is good for a longer time frame. You were just mentioning that the market is soon going to be a sector specific as well as stock specific market. So, talking about sectors, do you see any sectoral churns at play at this point in time? Which sectors do you feel are showing momentum on the charts? CA Rudramurthy BV: Earlier I was very bullish on private banks and you had a lot of valuation comfort and these stocks did well even during that October to March period last year when markets were not doing well whether it was HDFC Bank, ICICI Bank and you have already seen the move and I was very bullish, super bullish, on private bank. Even now, if you have a larger time frame of at least one year plus, I will still say private banks will be my top pick. Financials will do good. Look at HDFC Bank, look at ICICI Bank, even at current market price, there is still value left. However, if I have to look at even margin of safety and at current market price, if I have to buy some stocks, yes, I will look at technology, IT as a sector, look at charts of Wipro, look at even stocks like Tech Mahindra, Coforge, you have to be very stock specific and selective even within the IT basket. So, for me, it is a choice. Look at Wipro, look at Tech Mahindra, look at Coforge, they all look very good and at current market price the margin of safety is very good to enter at current market price and hold on and you will make good money in it and specifically in stocks like Tech Mahindra, Wipro, and Coforge which I like a lot. For me, even PSU as a theme has more comfort at current market price. So, if you have to select from PSUs, for me defence is a must area where one has to have a portfolio there and in your portfolio you cannot miss stocks like HAL, you cannot miss stocks like BEL, so defence for me is another area from PSU basket which will do very good. You can even pick stocks from railway, shipping whether it is Cochin Shipyard or Mazagon Dock or even from rail if you have to pick stocks you have RVNL, you have stocks like IRCTC also so which can do good. Titagarh Wagon is another great stock. So, you have to be in PSUs right now. Whether you want to pick from defence stocks like HAL, BEL, shipping, or railway, these will do good. And even for me power as a theme, as a sector can do good. And even there if you want to pick up stocks from PSU, matter of choice, you can even look at charts of PFC and REC looking very-very attractive at current market price. These power finance companies can do good and even if you see charts of NTPC, charts of Tata Power, Power Grid they all look very-very good at current market price. So, I will be very sector specific and stock specific at current market price and for me even stock like IndiGo, you should not miss. After this promoter stake sale, IndiGo is available to you today closer to that 5,200, 5,300 level, mouthwatering price to buy IndiGo at current market price. Similarly, for me, Paytm is another stock specific call at current market price. Concor is another PSU which you can pick and have in your basket. So, a lot of ideas I am giving are both sector specific and stock specific. They all look very good to me. But specifically, if you can highlight two counters which are the tradable ideas right now with the stop losses and the target price as well. CA Rudramurthy BV: For me, Tata Motors looks very strong. The stock has given a clear breakout above 700 zone and it is showing patterns of accumulation. I will be buying Tata Motors stock available in future, look at initial target of 780 to 800 and keep a stop loss of 700 on closing basis. RBL Bank is another stock which looks very strong, 180, 190, a lot of strong hands have accumulated the stock. 250 will be my initial target, stock available in futures, one can definitely go long and have a stop loss of 200 for RBL Bank. So, a buy on Tata Motor and on RBL Bank.
Time of India
25-04-2025
- Business
- Time of India
Buy the dip in case of a big gap-down opening on Monday; 2 stocks to pick: CA Rudramurthy BV
CA Rudramurthy BV of Vachana Investments advises investors to buy on dips, particularly in private and PSU banks, insurance, and NBFCs. He highlights ICICI Bank and Paytm as promising stocks, with Nifty support at 23,400-23,500 and bank levels around 52,800-53,000 as buying opportunities. Any rally in IT and metals should be used to shift into these sectors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads BV, MD,, says the market is showing strong potential and it is not a market to short but rather one should be buying on dips, especially if there's a gap down on Monday. Key sectors to focus on include private and PSU banks, insurance, and NBFCs. ICICI Bank and Paytm are highlighted as promising stocks. Nifty support is seen at 23,400-23,500. Bank levels around 52,800-53,000 present buying further says any rally in metals and IT should be used to shift into private and PSU banks, or even NBFC, and insurance.: First of all, we have to understand the backdrop of why markets are falling. It is because of the jitters from the Pahalgam event. However, one has to keep in mind that the rally has been very swift. In fact, in the last eight trading sessions except for today, we have seen a rise of 2,500 points in an average, it is a 300-point rise on a daily basis. When it comes to Bank Nifty, it has gone much more ahead, it is a 6,500 points rally in the last eight trading sessions before today. So, some amount of profit booking is definitely good, but one has to keep in mind that this is a market which you have to buy-on-dips and it is not a sell-on-rise market and we have already changed the structure of what we had seen earlier from October to in this quarter's results – whatever has come till now – is far better than what it was in the previous or even for that matter, the quarter before that. So, I am very bullish on this market, but you have to buy this dip. If escalations happen and you get any big gap downs on Monday, that will be a fantastic buying opportunity and you have to be very sector and stock specific. So, for me, sectors like private banks, even PSU banks, insurance and NBFC stocks, OMCs are the places where you need to be and definitely, I will use any rally in IT and metals as an exit opportunity. But definitely, this is a buy-on dips market for at 23,400-23,500 is a very strong support. So, even if the escalation happens during this weekend and we get any gap down, use that opportunity to buy and wait for this news to settle down and Nifty levels closer to the 23,400 is a great opportunity to buy. And similar levels on banks will be 52,800; around 52,800-53,000 level, there will be a very good opportunity to specific, I like Paytm. Look at the structure of this stock. Paytm from levels of Rs 800 did a non-stop move towards Rs 900; open interest build up and even delivery volumes going on the higher side is very supportive for price. So, in this correction and on dips to levels closer to 830, 840 I will be a buyer in Paytm, looking at targets of 1,000 to come on Paytm for a positional buy and one can have a stop loss of 830 for this long private bank which has come out with fabulous results and also where on chart, there is a very strong support at levels closer to 1350-1370 is ICICI Bank. Private banks will do good. In fact, it is a choice between HDFC Bank, Kotak Bank and ICICI Bank. But I have picked up ICICI Bank at current market price and on dips to Rs 1380-1370, will buy onto ICICI Bank, look at targets of Rs 1500 to come on ICICI Bank. So, a bullish stance on the market. If you get a gap down on Monday, use it to buy these great sectors and stocks which I have mentioned.: Let me be very clear, this is not a market to short but definitely is a market to buy on dips and not at current market price, if you are a very short-term trader. It's good there has already been a dip today, keeping in mind the escalation which might happen at our border, but then one has to understand that the market texture has completely changed and this might be the reason why we are seeing the fall in market because of the escalating tensions. But the overall market structure has changed in the last two the end of March, we have already seen a selloff that happened from October to March and now this market has turned to buy on dip. So, what traders can do for short-term is reduce your leverage, reduce long exposure, keep cash, have gunpowder with you so that you can buy stocks when you get that gap down. Use that gap down as an opportunity to buy and now is not a time to short for sure. You have to be very sector specific and stock specific. Book profits in IT in general because the entire rally in IT and metals which you have seen last week is more of a short covering rally and a lot of shorts which were there in IT have already got covered.I have seen the same thing in metals. So, I will use this rally which came last week in metals and IT to shift into private banks, public sector banks, or even for that matter NBFC, and insurance. So, these are all the sectors which are doing very well. In fact, even power for that matter, is a choice whether Tata Power, NTPC or even power finance companies like PFC, REC they are all available at mouthwatering price. So, power as a sector can do good for insurance, look at SBI Life, fabulous results and stock is doing great; look at even HDFC Life. Private banks, look at ICICI, look at HDFC, Kotak Bank and from public sector banks look at SBI and look at Bank of Baroda and even for that matter OMCs look at BPCL, HPCL, these are all sectors which will definitely do good and use the dip in market to buy into these sectors if you get and this is not a market to short.
