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Mint
3 days ago
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 23 July
Indian equity benchmarks closed on a flat to negative note on 22 July, with the Nifty slipping 30 points, or 0.12%, to settle at 25,060. Despite a positive start, the indices failed to sustain early gains, ending the session under pressure from broad-based selling. All sectoral indices closed in the red, with Media (-2.5%), PSU Bank (-1.6%), Realty (-1%), Pharma (-0.9%), and Auto (-0.6%), reflecting cautious sentiment across sectors. Two stock recommendations for today by MarketSmith India: Krn Heat Exchanger And Refrigeration Ltd (current price: ₹849.90) Why it's recommended: Strong financial performance, expansion plans and capacity enhancement, established clientele, and export growth. Key metrics: P/E: 126.20 | 52-week high: ₹1,012.00 | Volume: ₹75.52 crore Technical analysis: Bounced back from its 100-DMA on above-average volume. Risk factors: Customer concentration risk, supplier dependency, liquidity and working capital concerns, and intense industry competition. Buy: ₹849.9 Target price: ₹980 in two to three months Stop loss: ₹790 Garware Technical Fibres Ltd (current price: ₹961) Why it's recommended: Leadership in technical textiles, export-focused business model, and rising demand in aquaculture. Key metrics: P/E: 39.46 | 52-week high: ₹984 | Volume: ₹30.08 crore Technical analysis: Horizontal trendline breakout Risk factors: Export dependency and currency volatility, raw material price volatility. Buy at: ₹961 Target price: ₹430 in two to three months. Stop loss: ₹363 How Nifty 50 performed on 22 July Markets remained range-bound and closed nearly flat, reflecting a pause amid mixed cues. After a positive start, the Nifty gradually lost momentum in the first half and moved sideways for the remainder of the session. Most major sectors ended in the red, with Pharma, Realty, and Auto leading the decline. The broader indices followed suit, each shedding nearly 0.5%. The advance-decline ratio stood at 1:1, indicating a balanced market breadth. The index successfully reclaimed both its 50-DMA and the key psychological level of 25,000, signalling a potential shift in sentiment. The intraday reversal pattern, along with the formation of a bullish candle near the 50-day SMA, suggests that the ongoing pullback may continue in the near term. On the daily chart, the relative strength index (RSI) has turned sideways and is approaching 47, indicating signs of a reversal. However, the daily MACD remains in a downtrend with a negative crossover above the zero line, highlighting that bearish undertones persist. According to O'Neil's methodology of market direction, market status has been downgraded to an "Uptrend Under Pressure" as Nifty breached its "50-DMA" and the "distribution day count" rose to five. The index managed to hold above its 50-DMA in a volatile session, ultimately closing flat—a sign of indecision among traders and investors. To regain bullish momentum, a decisive breakout and sustained close above 25,300 is essential. On the downside, failure to hold above 24,900 could lead to further weakness, with potential support levels at 24,750 and 24,500 in the coming sessions. How Nifty Bank performed yesterday On Tuesday, the Nifty Bank started the day on a positive note. However, as the session progressed, heightened volatility led the index to slide into negative territory. A bearish candle was formed on the daily chart, with a higher-high and higher-low price structure. The index breached its 21-DMA, signalling a shift in the prevailing trend. Despite this, the market continued to display caution, with price action indicating indecision among traders. The momentum indicator, RSI, dipped slightly and hovered around 51, reflecting a neutral market sentiment. Meanwhile, the MACD remained above its central line, though it continued to show a negative crossover. Traders should monitor key levels closely for any potential breakouts or further consolidation. According to O'Neil's methodology of market direction, the Nifty Bank remains in a 'Confirmed Uptrend', a status it has successfully maintained over the past few weeks. The Nifty Bank is currently trading comfortably above its 50-DMA, facing resistance near 57,500. The 50-DMA continues to serve as a crucial support zone, helping to cushion near-term declines. A sustained close below this level could trigger a further downward move to 55,000. Conversely, a decisive close above 57,500 may open the door for a fresh upward move toward 58,500. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Saudi Gazette
3 days ago
- Politics
- Saudi Gazette
Saudi Cabinet reaffirms Syria support, endorses Gaza ceasefire call
Saudi Gazette report JEDDAH — The Custodian of the Two Holy Mosques King Salman chaired the Cabinet session held Tuesday in Jeddah, where key regional and international developments were discussed, including Saudi Arabia's continued support for Syria and the situation in Gaza. The Cabinet reviewed a message received by the King from Eswatini's King Mswati III, as well as a phone call between Crown Prince Mohammed bin Salman and Syrian President Ahmad Al-Shara, during which Saudi Arabia reiterated its firm support for Syria, condemned Israeli aggression on Syrian territory, and rejected external interference in the country's internal affairs. The Cabinet underscored the importance of the joint statement issued by Saudi Arabia and several Arab nations, reaffirming commitment to Syria's unity, stability, and reconstruction. Minister of Media Salman Al-Dosary stated that the Cabinet also reviewed the Kingdom's humanitarian efforts in Syria through the King Salman Humanitarian Aid and Relief Center, highlighting Saudi Arabia's ongoing support for crisis-affected nations. The Cabinet welcomed the recent statement by 26 international partners calling for an immediate end to the war in Gaza, the lifting of all restrictions on humanitarian aid, and its safe delivery to the urged the international community to take swift, practical steps in response to Israel's continued obstruction, which hinders regional and global peace Arabia also hailed the signing of a declaration of principles between the Democratic Republic of Congo and the Congo River Alliance, expressing hope that the agreement would help improve humanitarian and economic conditions and promote international peace and a step toward energy leadership, the Cabinet welcomed the signing of agreements and MoUs aimed at establishing an integrated system for exporting renewable energy and green hydrogen from Saudi Arabia to Europe, reinforcing the Kingdom's role in international logistics and the India-Middle East-Europe Economic Cabinet commended the achievements of the National Industrial Development and Logistics Program (NIDLP), including its contribution to non-oil GDP, job creation, and expansion of local manufacturing success of the Saudi conjoined twins separation program was also praised, with the Cabinet highlighting its global humanitarian impact, having cared for 150 twins from 27 countries and performed 65 successful separation the field of intellectual property, the Cabinet noted the election of Saudi Arabia to lead international committees within the World Intellectual Property Organization (WIPO), affirming the Kingdom's global influence and Cabinet also welcomed the hosting of key international events, including the 8th Global Health Exhibition, the Global Symposium for Regulators, and the 2027 International Conference of Internal Auditors, further cementing Saudi Arabia's role as a hub for governance, oversight, and professional the Cabinet assigned Jeddah Municipality to oversee and protect the coastal stretch from Al-Sathah in Rabigh to Al-Kadof in Al-Qunfudhah.
Fox News
3 days ago
- Politics
- Fox News
Fox News Highlights – July 21, 2025
Fox News Highlights – July 21, 2025 Learn more about your ad choices. Visit FOX News Radio
RNZ News
5 days ago
- Sport
- RNZ News
Midday Sports News for 21 July 2025
Midday Sports News for 21 July 2025 Tags: To embed this content on your own webpage, cut and paste the following: See terms of use.
Saudi Gazette
5 days ago
- Business
- Saudi Gazette
Saudi media minister visits Al Arabiya headquarters in Riyadh following full operational relocation
Saudi Gazette report RIYADH — Minister of Media Salman Al-Dosari visited the headquarters of Al Arabiya Network in Riyadh on Sunday, following the network's full relocation of its editorial, administrative, and operational divisions to the Saudi capital. During the visit, Al-Dosari met with editorial and technical leadership at the network and reviewed the organizational structure, content production systems, and broadcasting operations. He was briefed on the network's editorial workflows and cutting-edge technology deployed across the facility's three main studios and three control rooms. Welcomed by Al Arabiya and Al Hadath General Manager Mamdouh Al-Muhaini and Deputy General Manager Zaid bin Kami, the minister toured the studios and newsroom areas, which are equipped with robotic cameras, virtual and augmented reality capabilities, and advanced live-broadcast systems operated by 230 staff members. Al-Dosari also reviewed upcoming developments at the headquarters, including five additional studios and five new control rooms currently under upgrades will feature media technologies being introduced for the first time, with the goal of improving content quality and enhancing visual storytelling for minister commended the network's editorial vision and legacy, stating that since its launch over 22 years ago, Al Arabiya has played a pivotal role in elevating Arab awareness through its rational, professional tone and rejection of populism and stressed that Al Arabiya's move to Riyadh represents more than a geographic shift — it marks a qualitative transformation that places the network at the heart of regional political and economic developments, allowing it to benefit from Saudi Arabia's world-class media thanked Al Arabiya's staff for their commitment and tireless work to complete the transition, praising their role in maintaining the network's credibility and leadership in covering rapidly evolving regional and global said the network's official relocation to Riyadh marks a strategic milestone aligned with Saudi Arabia's ambitions to expand its regional and global media added that the move enhances the network's access to decision-making centers, talent, and innovation in 2003 with the slogan 'To Know More,' Al Arabiya has built a global footprint with correspondents in key Arab and international capitals.
