Latest news with #DrReddysLaboratoriesLtd
Mint
2 days ago
- Business
- Mint
SBI Cards to Wipro - Prashanth Tapse suggests stocks to buy in the short term
Stock market today: Indian stocks experienced a drop on Friday, primarily driven by oil and gas companies, following Israel's military operations in Iran, which escalated tensions in the oil-rich Middle East and prompted a widespread selloff across various markets. The Nifty 50 decreased by 0.94% to 24,655 . 15, while the BSE Sensex fell by 0.95% to 80,919.97, as noted at 11:25 IST. This significant decline occurred after Israel conducted an attack on Iran early Friday, raising concerns about a potential wider regional conflict. The United States released a statement describing the attack as a unilateral military action by Israel and cautioned Iran against responding by targeting US military bases and facilities in the area. Global markets reacted with alarm as the situation remains unstable and unpredictable. US futures and major Asian stock indices also fell considerably as investors hurried to cut back on risk exposure. Nifty 50 witnessed a sharp decline amid a spike in global volatility and escalating tensions in the Middle East. The index has slipped below the 25,000 mark, with crucial support now placed at 24,700 and 24,600. A gap-down opening or continued weakness may lead to a retest of these zones. Traders are advised to stay cautious and avoid aggressive longs until the index stabilizes. Watch for signs of reversal near key supports before re-entering. Bank Nifty breached the 56,000 mark, signaling weakness and potential downside. A further dip below 55,900 could trigger a fall toward the 55,500–55,400 zone. While the broader structure remains in a range, volatility could lead to intraday swings. Traders are advised to avoid fresh longs and adopt a wait-and-watch approach until signs of reversal emerge or volatility cools off. Prashanth Tapse recommends buying these three stocks in the short term - SBI Cards and Payment Services Ltd, Dr Reddys Laboratories Ltd, and Wipro Ltd. SBI Card is showing strength even during recent market weakness. The stock has formed a solid base around ₹ 980–985, and this area is now acting as a strong support. Technical indicators suggest that buyers are stepping in at lower levels, and momentum remains positive. If the stock holds above ₹ 980, it has a good chance of moving up to ₹ 1,020 and ₹ 1,040. Traders can look to buy on any decline, keeping a stop loss at ₹ 960 to manage risk. Dr. Reddy's has been performing well and remains strong compared to other pharma stocks. After a recent breakout, the stock is now moving sideways, which is a healthy sign. It's holding above key support levels, and technical indicators are showing signs of further strength. A dip towards ₹ 1,340–1,345 can be a good opportunity to enter. As long as the stock stays above ₹ 1,315, it may head towards ₹ 1,400 in the short term, and ₹ 1,430 in the coming sessions. Wipro is currently trading near a strong support level and has been stable despite market volatility. The overall trend remains positive, and the stock is still above its long-term moving averages. Technical signals suggest that the recent pullback may offer a good buying opportunity. Buying near ₹ 252–254 with a stop loss at ₹ 245 could lead to a bounce back toward ₹ 268 and ₹ 272 in the short term.
Mint
2 days ago
- Business
- Mint
SBI Cards to Wipro - Prashanth Tapse suggests stocks to buy in the short term
Stock market today: Indian stocks experienced a drop on Friday, primarily driven by oil and gas companies, following Israel's military operations in Iran, which escalated tensions in the oil-rich Middle East and prompted a widespread selloff across various markets. The Nifty 50 decreased by 0.94% to 24,655 . 15, while the BSE Sensex fell by 0.95% to 80,919.97, as noted at 11:25 IST. This significant decline occurred after Israel conducted an attack on Iran early Friday, raising concerns about a potential wider regional conflict. The United States released a statement describing the attack as a unilateral military action by Israel and cautioned Iran against responding by targeting US military bases and facilities in the area. Global markets reacted with alarm as the situation remains unstable and unpredictable. US futures and major Asian stock indices also fell considerably as investors hurried to cut back on risk exposure. Nifty 50 witnessed a sharp decline amid a spike in global volatility and escalating tensions in the Middle East. The index has slipped below the 25,000 mark, with crucial support now placed at 24,700 and 24,600. A gap-down opening or continued weakness may lead to a retest of these zones. Traders are advised to stay cautious and avoid aggressive longs until the index stabilizes. Watch for signs of reversal near key supports before re-entering. Bank Nifty breached the 56,000 mark, signaling weakness and potential downside. A further dip below 55,900 could trigger a fall toward the 55,500–55,400 zone. While the broader structure remains in a range, volatility could lead to intraday swings. Traders are advised to avoid fresh longs and adopt a wait-and-watch approach until signs of reversal emerge or volatility cools off. Prashanth Tapse recommends buying these three stocks in the short term - SBI Cards and Payment Services Ltd, Dr Reddys Laboratories Ltd, and Wipro Ltd. SBI Card is showing strength even during recent market weakness. The stock has formed a solid base around ₹ 980–985, and this area is now acting as a strong support. Technical indicators suggest that buyers are stepping in at lower levels, and momentum remains positive. If the stock holds above ₹ 980, it has a good chance of moving up to ₹ 1,020 and ₹ 1,040. Traders can look to buy on any decline, keeping a stop loss at ₹ 960 to manage risk. Dr. Reddy's has been performing well and remains strong compared to other pharma stocks. After a recent breakout, the stock is now moving sideways, which is a healthy sign. It's holding above key support levels, and technical indicators are showing signs of further strength. A dip towards ₹ 1,340–1,345 can be a good opportunity to enter. As long as the stock stays above ₹ 1,315, it may head towards ₹ 1,400 in the short term, and ₹ 1,430 in the coming sessions. Wipro is currently trading near a strong support level and has been stable despite market volatility. The overall trend remains positive, and the stock is still above its long-term moving averages. Technical signals suggest that the recent pullback may offer a good buying opportunity. Buying near ₹ 252–254 with a stop loss at ₹ 245 could lead to a bounce back toward ₹ 268 and ₹ 272 in the short term. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
6 days ago
- Business
- Business Standard
Dr Reddys Laboratories Ltd soars 0.07%, up for fifth straight session
Dr Reddys Laboratories Ltd is quoting at Rs 1321.8, up 0.07% on the day as on 12:44 IST on the NSE. The stock is up 8.24% in last one year as compared to a 7.99% spurt in NIFTY and a 10.18% spurt in the Nifty Pharma. Dr Reddys Laboratories Ltd gained for a fifth straight session today. The stock is quoting at Rs 1321.8, up 0.07% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.46% on the day, quoting at 25117.25. The Sensex is at 82511.15, up 0.39%. Dr Reddys Laboratories Ltd has risen around 10.56% in last one month. Meanwhile, Nifty Pharma index of which Dr Reddys Laboratories Ltd is a constituent, has risen around 3.24% in last one month and is currently quoting at 21684.4, up 0.47% on the day. The volume in the stock stood at 9.1 lakh shares today, compared to the daily average of 19.37 lakh shares in last one month. The benchmark June futures contract for the stock is quoting at Rs 1320.2, up 0.24% on the day. Dr Reddys Laboratories Ltd is up 8.24% in last one year as compared to a 7.99% spurt in NIFTY and a 10.18% spurt in the Nifty Pharma index. The PE of the stock is 20.6 based on TTM earnings ending March 25.
