Latest news with #DharmeshShah
Mint
3 days ago
- Business
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Securities suggests HEG, Larsen & Toubro shares to buy on June 2
Stock market today: The Indian stock markets saw declines for the second week in a row, with both the Nifty 50 and Sensex dropping by nearly 0.4%, ending the week at 24,750 and 81,451, respectively, on May 31. Meanwhile, the Bank Nifty index showed better performance, rising by 0.63% to finish at 55,749, thanks to robust results in the banking sector. Experts note that domestic economic indicators are promising, such as an improved monsoon forecast, a stable inflation trend, and an encouraging Q4 GDP growth rate of 7.4%, which could mitigate risks. The market appears to be anticipating a 25 bps rate cut, which would enhance projections for sectors sensitive to interest rates. While the favourable macroeconomic conditions may uplift investor confidence, the stability of the wider market will rely on substantial earnings growth and diminishing trade disputes. On the technical front, Dharmesh Shah, Vice President at ICICI Securities, expects Nifty 50 to consolidate in the broader range of 25,100-24,500 amid positive bias. Shah has recommended two stocks to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Equity benchmark relatively underperformed its global peers as Nifty 50 dropped 0.5% for the week compared to Dow Jones which gained 1.5%. Meanwhile, broader market endured its outperformance by gaining 1% supported by traction in Capital Goods, PSU Bank and energy sectors. The weekly price action formed a small bear candle, indicating extended breather. Going ahead, we expect prolongation of consolidation in the broader range of 25,100-24,500 amid positive bias wherein stock specific action would prevail. The past two weeks healthy consolidation while sustaining above 20 days moving average depicts inherent strength. In addition to that, formation of higher peak and trough backed by improving market breadth makes us believe, index would eventually resolve above upper band of consolidation and head towards 25,500 in the month of June. Further, we expect volatility to subside gradually as we approached the fag end of earning season and focus will now shift towards upcoming RBI's Policy (to be released on next Friday). Consequently, rate sensitives like financials, auto, realty would be in focus. Key thing to highlight is that, the index has staged a strong 15% rally from April lows. Post that, Nifty 50 has been consolidating over past two weeks wherein it corrected 3%. The elongation of rallies followed by shallow retracement is a is key ingredient of a structural bull market. Hence, we believe ongoing consolidation would set the stage for next leg of up move towards 25,500 wherein strong support is placed at 24,200. On the broader market front, the ratio chart of Nifty 500 / Nifty 100 has staged a strong rebound after finding support from multi years range breakout area. The rising ratio line highlights relative outperformance of the broader market compared to large caps. Meanwhile sector rotation underpinned by improvement in market breadth augurs well for durability of ongoing optimism in the midcap and small cap space. Key monitorable which would validate our positive bias going ahead: a. GDP data b. RBI's commentary on rate cut c. Persistent FII's inflow d. Further weakness in US Dollar index and Brent crude oil prices e. Bilateral Trade Agreement between India and US Dharmesh Shah of ICICI Securities recommends buying HEG, and Larsen & Toubro shares to buy tomorrow. Buy Larsen & Toubro shares in the price range of ₹ 3,420-3,672. He has Larsen & Toubro share price target of ₹ 3,928, and suggests maintaining a stop loss of ₹ 3,264. Buy HEG shares in the price range of ₹ 493-522. He has HEG share price target of ₹ 578, and suggests maintaining a stop loss of ₹ 467. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 30/05/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
Mint
25-05-2025
- Business
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Securities suggests buying Larsen & Toubro shares tomorrow
Stock market news: Indian stock market saw a recovery in the final trading session of the week, with both Sensex and Nifty 50 increasing by approximately 1%, driven by positive sentiment regarding US-China trade talks. On Friday, the indices were boosted by purchases in major companies like Reliance Industries, HDFC Bank, and ITC. Moreover, expectations of a record dividend from the RBI and declining US treasury yields enhanced investor confidence, according to traders. The Sensex closed at 81,721.08, rising by 769.08 points or 0.95%, while the Nifty 50 finished at 24,853.15, up by 243.45 points or 0.99%. Analysts pointed out that the Indian stock market faced increased volatility over the past week, mainly due to fluctuations in the global bond markets. Although the week started off strong, disappointing US bond auctions and increasing Treasury yields triggered a global risk-averse attitude, leading to significant midweek sell-offs in Indian stocks. Looking forward, investors will be monitoring the forthcoming Indian GDP figures, along with US budget announcements, inflation statistics, and weekly jobless claims, to assess the strength and direction of economic recovery both domestically and internationally. On the technical front, Dharmesh Shah, Vice President at ICICI Securities, expects Nifty 50 to head towards 25,500 in coming months. Shah has recommended one stock to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Indian equity benchmarks witnessed rise in volatility amid sharp sell-off in global markets as rising US bond yields and renewed concerns around America's fiscal health spooked investors. However strong buying demand emerged after taking support at 20-day EMA and 50% retracement of current upmove (23,935-25,116). Nifty 50 settled the week at 24,853, down 0.6%. Broader market relatively outperformed as Smallcap Index gained 0.37%. Meanwhile, Nifty Realty & PSU Banks was major gainer with for the week. The weekly price action formed inside bar candle indicating a breather after witnessing a sharp upmove of 5% in the last week. We belive the current retracement is more of a normal profit booking of the sharp rally witnessed in last week, however the current breather should not be constructed as negative but should be look as a buying opportunity to construct the portfolio from medium term perceptive. In the upcoming week, we expect volatility to remain elevated due to monthly expiry. The index is undergoing a healthy retracement after witnessing sharp up move over last week. The elongation of rallies followed by shallow retracement clearly highlights robust price structure that makes us maintain our positive stance and expect Nifty 50 to head towards 25,500 in coming months. Going forward in the near-term we expect market to form strong base formation (24,200-25,100) which would make the market more healthy and open the next leg of upside in the coming month. For the coming week, strong support is placed at 24,200-24,400 zone. Meanwhile, on the upside, 25,100 would continue to act as immediate resistance. Bank nifty has been sailing through the global volatility, as over last four weeks Index has been consolidating in a broad range (56,098-53,480) after sharp rally of 14% in month of April suggesting healthy retracement. However index managed to hold last week low forming a higher base, that bodes well for next leg of up move towards 57,000 in the coming months. As far as broader market is concern both Nifty Midcap and Small cap Index are resuming uptrend after consolidating above its April breakout area and witnessed shallow retracement indicating inherent strength. Going forward we expect catch up activity in both the Indices in the coming month as currently both the Indices are 7% and 11% away from its All-time high. Historically, maximum average correction in Midcap and small cap indices have been to the tune of 27% and 29% while time wise such correction lasted for 7-8 months. Subsequently, both indices have seen 32% and 28% returns, respectively in next six months. Market breadth is always a good indicator to understand the sentiment of the market in the current context currently 86% stocks of Nifty 500 universe are now trading above their 50-DMA and 39% above their 200-DMA compared to April month's lowest reading of 27 and 15 respectively, clearly indicating pick up in broader market participation. Key point to highlight is that the current up move is backed by the broad based participation, indicating the current upmove is secular in nature that has been further validated by significant improvement in momentum, breadth as well as sentiment indicators. a. The US Dollar index is on the verge of breakdown from two years low of 99.50 b. Weakness in Brent crude oil persists at higher levels , currently hovering around 64 c. Bilateral Trade Agreement between India and US Dharmesh Shah of ICICI Securities recommends buying Larsen & Toubro shares. Buy Larsen & Toubro shares in the price range of ₹ 3,500-3,600. He has Larsen & Toubro share price target of ₹ 3,928, and suggests maintaining a stop loss of ₹ 3,264. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 23/05/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
Mint
18-05-2025
- Business
- Mint
Stocks to buy or sell:Dharmesh Shah of ICICI Securities suggests buying Larsen & Toubro, JSW Energy shares on 19 May
Stock market news: The key domestic indices, Sensex and Nifty 50, closed lower on Friday due to profit-taking in IT stocks and Bharti Airtel shares following a significant rally in the previous session. The Sensex fell by 200.15 points, or 0.24%, settling at 82,330.59. At one point during the day, it dropped by 383.79 points, or 0.46%, reaching 82,146.95. Meanwhile, the Nifty 50 decreased by 42.30 points, or 0.17%, to end at 25,019.80. Despite this, both the Sensex and Nifty 50 recorded gains for the week as investors responded positively to a ceasefire with Pakistan, trade discussions with the United States, and the anticipation of domestic interest rate reductions. The Nifty 50 increased by 4.21% to 25,019.80 over the week, while the Sensex saw a rise of 3.62% to 82,330.59. Market analysts pointed out that the ceasefire announcement between India and Pakistan alleviated concerns over rising military tensions and fostered a risk-on atmosphere, while the US-China trade agreement, advancements in India-US trade discussions, and a decline in domestic inflation helped maintain the weekly growth. On the technical front, Dharmesh Shah, Vice President at ICICI Securities, expects Nifty 50 to head towards 25,500 in coming weeks, he suggests 24,400 would continue to act as a key support. Shah has recommended two stocks to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Equity benchmark sailed through the geopolitical volatility and staged a strong rebound as US-China trade deal further boosted the market sentiment. As a result, Nifty 50 reclaimed 25,000 mark (after mid-October 2024) and settled the week at 25,020, up 4.2%. Broader market remained at the forefront gaining >7% led by sectors like Defence, Metal, Realty, Capital Market. The weekly price action formed a sizable bull candle carrying higher high-low, indicating resumption of uptrend. India VIX plunged 22% once the anxiety around the geopolitical worries settled down, indicating improved market sentiment. Breakout from three weeks consolidation 24,500-23,200 resulted into acceleration of upward momentum. Significant improvement in market breadth signifies broader market participation that makes us reiterate our positive stance of Nifty 50 heading towards 25,500 in coming weeks. Meanwhile, 24,400 would continue to act as key support. On the broader market front, Nifty midcap and small cap index staged a strong recovery after approaching maturity of price and time wise correction. On the expectation of catch-up activity, broader market is likely to outperform the benchmark as currently Nifty 50 is just 5% away from its All-Time High while Midcap and small cap indices are 7% and 12% away from its All Time High. Historically, maximum average correction in midcap and small cap indices have been to the tune of 27% and 29% while time wise such correction lasted for 7-8 months. Subsequently, both indices have seen 32% and 28% returns, respectively in next six months. Our constructive bias on the market is further validated by following observations: a. Return of FII's: Past three decades trend suggest, FII's selling of ₹ >30,000 cr. during any quarter, the subsequent 12 months Nifty 50 returns have averaged around 28%. In most cases FII's returned back leading to subsequent market rally b. US-China trade deal has eased the recession worries in US that in turn bodes well for future rate cuts c. Global Macros: Risk on sentiment kicks in tracking tariff development coupled with cool off in US 10-year bond yield, crude oil prices, and weak U.S. dollar d. Market Breadth: Currently 89% stocks of Nifty 500 universe are now trading above their 50-DMA and 42% above their 200-DMA compared to April month's lowest reading of 27 and 15 respectively, clearly indicating pick up in broader market participation 5. The breakout from three weeks consolidation confirms resumption of uptrend that makes us revise support base at 24,500 as it is 50% retracement of recent rally (21,743-25,116). Dharmesh Shah of ICICI Securities recommends buying Larsen & Toubro, and JSW Energy shares next week. 1) Buy Larsen & Toubro in the range of ₹ 3,490-3,610 for the target of ₹ 3,928 with a stop loss of ₹ 3,264. 2) Buy JSW Energy in the range of ₹ 486-504 for the target of ₹ 560 with a stop loss of ₹ 459. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 16/05/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
Economic Times
13-05-2025
- Business
- Economic Times
Stocks to buy today: TCS, L&T among top 6 trading ideas for 13 May 2025
Live Events We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureau Expert: Kunal Bothra, Market Expert told ETNow (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Indian market is likely to trade lower on Tuesday, tracking muted global Nifty futures closed positively with significant gains of 4.10% at 25,051 levels on Monday. India VIX fell nearly 15% to close at the options front, the maximum Call OI is placed at 25,500 and then towards 25,000 strikes while the maximum Put OI is placed at 24,000 and then towards 24,500 writing is seen at 25,500 and then towards 25,700 strikes, while Put writing is seen at 24,500 and then towards 24,600 strikes.'Options data suggests a broader trading range in between 24,500 to 25,500 zones while an immediate range between 24,700 to 25,200 levels,' Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, Nifty index not only sustained the gap-up but also surged past its previous swing high of 24,857 (marked on 2nd December 2024), triggering a rounding bottom pattern on the weekly chart.'The Nifty comfortably crossed multiple short-term resistance levels and by the end of the session, it had logged an impressive gain of over 900 points. It has formed a big bullish candle on the daily frame on Monday and negated the sequence of lower lows,' added Taparia.'Now it has to hold above 24,750 zones for an up move towards 25,200, then 25,500 zones while supports are shifting higher at 24,750, then 24,550 zones,' he recommends.: Buy| Target Rs 3790| Stop Loss Rs 3535: Buy| Target Rs 3760| Stop Loss Rs 3477: Buy| Target Rs 3782| Stop Loss Rs 3448: Buy| Target Rs 1760| Stop Loss Rs 1670: Buy| Target Rs 4100| Stop Loss Rs 3950: Buy| Target Rs 330| Stop Loss Rs 305: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Mint
11-05-2025
- Business
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Securities suggests buying Sun Pharma shares on 12 May 2025
Stock market news: Indian stock markets in the week ahead, starting Monday, will be influenced by geopolitical events, especially the ongoing tensions with Pakistan, along with macroeconomic indicators and corporate earnings, according to market analysts. The Nifty 50 wrapped up the week at 24,008.00, reflecting a decrease of 1.39%, while the Sensex closed at 79,454.47, down 1.30%. The primary equity indices saw significant declines this week, largely due to rising geopolitical tensions between India and Pakistan in light of reports regarding drone and missile assaults. The sell-off escalated on the last trading day of the week after the Indian Army reported multiple overnight drone and munitions assaults by Pakistani forces, intensifying concerns of further escalation. Foreign Institutional Investors (FIIs) sold shares worth ₹ 3,798 crores on May 9 when the conflict between India and Pakistan intensified. With a ceasefire now declared, experts suggest that FIIs may begin to increase their equity investments in India once again. On the technical front, Dharmesh Shah, Vice President at ICICI Securities, expects Nifty 50 to consolidate in the 24,500-23,200 area during earnings season, where stock-specific movement would prevail. Shah has recommended one stock to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Equity benchmark snapped three week's winning streak tracking escalated geopolitical tension and settled the volatile week at 24,008, down 1.4%. As a result, India VIX witnessed highest weekly close (21.54) since June-24, up 18%, indicating uncertainty in the market. Meanwhile, rupee tumbled sharply and settled the week at 85.46. Sectorally, auto outperformed while Realty, PSU Bank remained under pressure. The weekly price action formed a bear candle that engulfed last week's trading range, indicating breather after three weeks sharp up move. Amidst ongoing geopolitical worries, we expect Nifty 50 to consolidate in the broader range of 24,500-23,200 zone wherein stock specific action would prevail amid ongoing earning season. Meanwhile, de-escalation of arm conflict would be the key monitorable which would fuel the momentum for next leg of up move. Over past three decades there have been three major instances of escalations due to armed conflicts in India (i.e Kargil War, 26/11, Pulwama attack). On each occasion it formed major bottom once anxiety around the event settled down. In the current scenario, post the knee-jerk reaction, we believe market will stabilise. Hence, we advise not to panic but rather build quality portfolios from medium to long term perspective amid ongoing earning season. Structurally, we believe the index has formed a durable bottom around 22,000-21,800 zone as it staged a strong rally after resolving out of past two months base formation backed by faster retracement. Further, significant improvement in momentum as well as sentiment indicators suggest broader market participation that makes us believe, extended correction from hereon owing to escalated geopolitical tension would help the index to cool off overbought condition and gradually form a higher base which would pave the way for next leg of up move. Our constructive view is further validated by following observations which would act as cushion: a. Persistent FII's inflow b. The completion of India-UK Free Trade Agreement c. Bilateral Trade Agreement between India and US would be the key monitorable d. Further weakness in US Dollar index and Brent crude oil prices • Amid heightened geopolitical worries we revise support base at 23,500-23,200 zone as it is confluence of 200 days EMA coincided with 50% retracement of recent rally off April lows of 21,743. Buy Sun Pharma shares in the price range of ₹ 1,780 - 1,833. He has Sun Pharma share price target of ₹ 2,040, and suggests maintaining a stop loss of ₹ 1,687. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 09/05/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
