Latest news with #NagarajShetti
Mint
a day ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on August 11
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a flat note on Monday, tracking mixed sentiment in the global market. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,445 level, a premium of nearly 4 points from the Nifty futures' previous close. On Friday, the domestic equity market ended with sharp losses, as the benchmark Nifty 50 closed below 24,400 level. The Sensex lost 765.47 points, or 0.95%, to close at 79,857.79, while the Nifty 50 settled 232.85 points, or 0.95%, lower at 24,363.30. Here's what to expect from Nifty 50 and Bank Nifty today: On the derivatives front, highest Nifty Call OI (Open Interest) is observed at the 24,500 and 24,700 strikes, likely to act as strong resistance zones. On the downside, 24,300 Put OI buildup suggests this level may hold as a near-term base. A breakout on either side will likely determine the next decisive move in the index, said Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking. Nifty 50 has formed six consecutive red candles on the weekly chart — a rare and notable pattern that indicates sustained selling pressure. 'A long bear candle was formed on the daily chart that completely negated the bullish sentiment created on Thursday. A long negative candle has been formed on the weekly chart which is for the sixth consecutive week on the trot. The formation of long upper shadows in the last 4-5 weekly candles signal sell on every rise in the market,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the underlying trend of Nifty 50 continues to be weak and the next lower levels to be watched are around 24,200 - 24,000 by next week. However, any pullback up to the hurdle of 24,500 could be a sell on rise opportunity. Puneet Singhania, Director at Master Trust Group noted that the Nifty 50 declined for the sixth consecutive week, closing below both its 100-day and 55-day EMAs 'Nifty 50 index, however, continues to hold above the key 200-day EMA near the 24,200 level. Notably, the 24,550 level coincides with the 61.8% Fibonacci retracement, making the 24,500 - 24,550 zone a strong resistance area and an attractive sell opportunity for traders. A decisive breach below the range could lead to upside movement toward 24,800. On the downside, 24,200 now acts as a key support. A sustained move below this level may trigger further upside toward 23.900. Overall, a 'sell-on-dips' approach remains favorable,' said Singhania. Om Ghawalkar, Market Analyst, believes for the Nifty 50, holding 24,000 is critical to avoid deeper declines, while a breakout above 25,000 could revive bullish sentiment. VLA Ambala, Co-Founder, Stock Market Today highlighted that the market momentum shows that we are currently in a profit-booking phase and not panic-driven sell-offs, while there's also weakness across Bank Nifty, midcaps, and select heavyweight stocks. 'That's why a sell-on-rise strategy would be more effective for market participants. They should also keep an eye on a breakdown below 24,000, as it could trigger sharp volatility. We can expect Nifty 50 to gain support between 24,120 and 24,000, and face resistance near 24,380 and 24,450 in today's trading session,' Ambala said. Bank Nifty index declined 516.25 points, or 0.93%, to close at 55,004.90 on Friday. For the week, the index slipped 1.10%, forming a bearish candle on the weekly chart, indicating persistent selling pressure. 'The 100-day EMA zone of 54,950 – 54,850 will be a critical support area for Bank Nifty. A sustained move below 54,850 could intensify the downtrend, opening the gates for a decline toward the next support zone of 54,000 – 53,900. On the upside, any recovery is likely to face resistance near 55,700 – 55,800, which now acts as a key hurdle for the bulls,' said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities. The Bank Nifty index closed firmly below the 50-day SMA on the daily chart and remains on the verge of the 100-day SMA, keeping the trend weak. The RSI has dropped to 33, hovering near oversold territory, while the MACD continues to extend its negative crossover. 'On the weekly timeframe, the Bank Nifty index has been sliding steadily from its June peak, with RSI easing to 53 from 62 in recent weeks, signalling a loss of medium-term momentum. On the upside, any sustained recovery would require a close above the 56,000 – 56,500 zone,' said Om Mehra, Technical Research Analyst, SAMCO Securities. Broader support is layered at 54,500 and 53,800, creating a staged base on the downside. Until the index closes back above 56,400, rallies are likely to remain constrained, with upside attempts meeting resistance at these pivotal zones, he added. 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.
Mint
5 days ago
- Business
- Mint
Nagaraj Shetti suggests Hero MotoCorp, APL Apollo Tubes shares to buy or sell in the short term; do you own?
Stock market today: Indian stock markets declined on Thursday, with the key indices hitting three-month lows after the U.S. imposed a 25% additional tariff on Indian exports, raising concerns about the economic implications of increased trade friction. As of 13:57 IST, the Nifty 50 was down 0.75% at 24,390, while the BSE Sensex decreased by 0.74% to 79,956.19, both reaching their lowest intraday levels since May. On Wednesday, U.S. President Donald Trump announced the extra tariff on Indian products, citing India's ongoing importation of Russian oil. Prior to the tariff announcement, the Reserve Bank of India maintained its GDP growth forecast for the year at 6.5%, downplaying the uncertainties related to tariffs. Analysts noted that the additional tariff has also left foreign investors feeling uneasy. Foreign portfolio investors have withdrawn $900 million from Indian equities thus far in August, following $2 billion in outflows during July. Nifty 50 continued to show weakness amidst choppy movement on Thursday and is currently trading lower by 90 points. The range movement of the last few sessions seems to be breaking on the downside and the crucial lower support of 24,500 (previous multiple swing lows) have been violated on the downside. This is not a good sign. The underlying trend of the market remains weak. A decisive break below 24,500 could open sharp weakness in Nifty 50 down to 24,200 levels in a quick period of time. Immediate resistance is placed at 24,700. Nagaraj Shetti of HDFC Securities recommends these two stocks to buy or sell in the short-term - Hero MotoCorp Ltd, and APL Apollo Tubes Ltd. After witnessing a minor weakness, the stock price has moved up firmly amidst volatile benchmark movement on Thursday. The larger upside breakout of the range that occurred recently is still intact and the stock price is trading higher. The volume pattern and the daily RSI indicates positive bias for the stock price. The stock price has declined yesterday after the formation of new lower top around ₹ 1,600 levels. We observe a formation of bearish engulfing candle pattern from near the crucial hurdle of 200day EMA. The stock price has been in a down trend over the last couple of months. Bearish lower tops and bottoms is in force on the daily chart. 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 taking any investment decisions.
Mint
6 days ago
- Business
- Mint
Stocks to buy under ₹100: Experts recommend three shares to buy today — 6 August 2025
Stocks to buy under ₹ 100: Following the renewed fear of Trump's tariffs, the Indian stock market underperformed global markets on Tuesday. The Nifty 50 index ended 73 points lower at 24,649, the BSE Sensex finished 308 points down at 80,710, while the Bank Nifty index corrected 259 points and closed at 55,360. Titan, IndusInd Bank and SBI Life led the charge among the Nifty's top performers. Conversely, it was a particularly tough session for heavyweights like Adani Ports, Reliance Industries, and Infosys, which ended as the major losers within the Nifty pack. Trading volumes on the NSE cash market were higher by 6% compared to the previous session. Nifty OIL & GAS, pharma, and FMCG were major losers among the sectoral indices. In contrast, auto, consumer durables, and metals ended in the green, indicating pockets of buying interest despite the cautious sentiment. Both the Midcap and smallcap Indices witnessed profit booking, along with the Benchmark Index. The Nifty Midcap 100 fell 0.39%, while the Nifty Smallcap Index lost 0.16%. Market breadth turned negative, with advancing shares outnumbering declining ones, as indicated by an advanced-decline ratio on the BSE, which was 0.77. Speaking on the outlook of the Nifty 50 indices, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The near-term down trend of the Nifty 50 index remains intact and the market is expected to slide down towards the 24,500 to 24,400 levels in the next few sessions. However, today's RBI's mid-quarter policy outcome is expected to show clear directions for the market. Immediate resistance for Nifty today is placed at 24,800." On the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Bank Nifty index is slipping down slowly towards the 55000 zone with bias weakening and would need a revival in the coming sessions to expect some decent pullback. The index has the important 100-period MA at the 56700 level, which would be the next support zone and needs to be sustained. On the upside, a decisive breach above the 50-DEMA zone at the 56000 level is much needed to improve the bias, and thereafter, expect a further rise." Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these three intraday stocks for today under ₹ 100: GMR Airports, MSP Steel & Power, and DCW. 1] GMR Airports: Buy at ₹ 92, Target ₹ 96, Stop Loss ₹ 89. 2] MSP Steel & Power: Buy at ₹ 30.30, Targets ₹ 31.50, ₹ 33.30, Stop Loss ₹ 29.40. 3] DCW: Buy at ₹ 75.50, Target ₹ 80, Stop Loss ₹ 72.
Mint
6 days ago
- Business
- Mint
Stocks to buy under ₹100: Experts recommend three shares to buy today — 6 August 2025
Stocks to buy under ₹ 100: Following the renewed fear of Trump's tariffs, the Indian stock market underperformed global markets on Tuesday. The Nifty 50 index ended 73 points lower at 24,649, the BSE Sensex finished 308 points down at 80,710, while the Bank Nifty index corrected 259 points and closed at 55,360. Titan, IndusInd Bank and SBI Life led the charge among the Nifty's top performers. Conversely, it was a particularly tough session for heavyweights like Adani Ports, Reliance Industries, and Infosys, which ended as the major losers within the Nifty pack. Trading volumes on the NSE cash market were higher by 6% compared to the previous session. Nifty OIL & GAS, pharma, and FMCG were major losers among the sectoral indices. In contrast, auto, consumer durables, and metals ended in the green, indicating pockets of buying interest despite the cautious sentiment. Both the Midcap and smallcap Indices witnessed profit booking, along with the Benchmark Index. The Nifty Midcap 100 fell 0.39%, while the Nifty Smallcap Index lost 0.16%. Market breadth turned negative, with advancing shares outnumbering declining ones, as indicated by an advanced-decline ratio on the BSE, which was 0.77. Speaking on the outlook of the Nifty 50 indices, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The near-term down trend of the Nifty 50 index remains intact and the market is expected to slide down towards the 24,500 to 24,400 levels in the next few sessions. However, today's RBI's mid-quarter policy outcome is expected to show clear directions for the market. Immediate resistance for Nifty today is placed at 24,800." On the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Bank Nifty index is slipping down slowly towards the 55000 zone with bias weakening and would need a revival in the coming sessions to expect some decent pullback. The index has the important 100-period MA at the 56700 level, which would be the next support zone and needs to be sustained. On the upside, a decisive breach above the 50-DEMA zone at the 56000 level is much needed to improve the bias, and thereafter, expect a further rise." Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these three intraday stocks for today under ₹ 100: GMR Airports, MSP Steel & Power, and DCW. 1] GMR Airports: Buy at ₹ 92, Target ₹ 96, Stop Loss ₹ 89. 2] MSP Steel & Power: Buy at ₹ 30.30, Targets ₹ 31.50, ₹ 33.30, Stop Loss ₹ 29.40. 3] DCW: Buy at ₹ 75.50, Target ₹ 80, Stop Loss ₹ 72. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
05-08-2025
- Business
- Mint
Stocks to buy under ₹100: Experts recommend four shares to buy today — 5 July 2025
Stocks to buy under ₹ 100: On Monday, the Indian stock market registered a relief rally on broad-based buying. The Nifty 50 index went up 157 points and closed at 24,722, the BSE Sensex surged 418 points and finished at 81,018, while the Bank Nifty index ended marginally higher at 55,619. Hero Motocorp, Tata Steel and Adani Ports led the charge among the Nifty's top performers. Conversely, it was a particularly tough session for Power Grid Corporation of India, HDFC Bank, and ONGC, which ended as the major losers within the Nifty pack. Trading volumes on the NSE cash market were lower by 12% compared to Friday, the lowest since 07 July. The widespread buying interest across sectors clearly showed the market's improved sentiment. Barring Nifty FMCG, which ended marginally in the red, all other sectoral indices closed the day in the green. The gains were robust in Nifty Metal, Realty, Auto, and IT, which all ended as major gainers, indicating a broad-based return of confidence among investors. On the outlook of the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, "Investors now await key global macro data – including US Services and Manufacturing PMI due today – along with Q1 results 2025 from Bharti Airtel, Adani Ports, Prestige Estates, Bharti Hexacom, and Lupin, which are likely to drive stock-specific action ahead of the RBI's policy outcome." Speaking on the outlook of the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The negative chart pattern, like lower tops and bottoms, remains intact on the daily chart. After the formation of a new lower bottom on Monday at 24535, Nifty is expected to form a new lower top around 24850-24900 levels in the short term, which could be a sell-on-rise opportunity. Immediate support is placed at 24550." Askeda bout the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Bank Nifty index, overall, remained sluggish, hovering near the 55,500 zone, and has been moving within a tight range for some time, resisting near the 50-DEMA level of 56,072 and having crucial support near the 55,000 level. As mentioned earlier, the index needs to move past the important hurdle of the 56,100 level to establish conviction and confirm a directional move further ahead." Regarding stocks to buy today, market experts Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these four intraday stocks: Bank of Maharashtra, SJVN, Morepen Laboratories, and Jagran Prakashan. 1] Bank of Maharashtra: Buy at ₹ 55, Target ₹ 60, Stop Loss ₹ 52; and 2] SJVN: Buy at ₹ 93, Target ₹ 99, Stop Loss ₹ 90. 3] Morepen Laboratories: Buy at ₹ 57.40, Target ₹ 59.60, ₹ 60.80, Stop Loss ₹ 55.90. 4] Jagran Prakashan: Buy at ₹ 74, Target ₹ 85, Stop Loss ₹ 70.
