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Mint
19 hours ago
- Automotive
- Mint
Best stock recommendations today: MarketSmith India's top picks for 19 August
Indian equity markets closed well in the green on Monday, with the Nifty50 rising around 1% to close at 24,876.95 and the BSE Sensex gaining around 676points or 0.84% to end at 81,273.75. The rally was driven by significant GST reform proposals, which introduced a simplified two-rate structure of 5% and 18%. These changes are expected to reduce prices of essentials and electronics while providing an estimated stimulus worth 0.7-0.8% of GDP. Sentiment received a further boost from an S&P rating upgrade and easing geopolitical concerns following high‑level US‑Russia discussions. The auto and consumer sectors led the gains, with Maruti Suzuki surging around 8.2% and Hero MotoCorp jumping around 6.5%. Two stock recommendations for today by MarketSmith India How the market performed on 18 August Equity benchmarks extended their upward momentum on Monday, with the Sensex and Nifty gaining almost 1% on the back of sustained buying in auto and consumer durables. The Nifty 50 settled 245 points higher at 24,876.95, after briefly surpassing 25,000 with an intraday gain of 1.58%. Market breadth remained supportive, as 14 of 16 sectoral indices advanced, with Auto (+3.4%) and Consumer Durables (+1.8%) at the forefront, while the mid- and small-cap indices also rose around 1% each, reflecting broad participation. Investor sentiment was bolstered by expectations of a 'big bang' GST reform package by Diwali and an S&P sovereign rating upgrade. Together, these factors improved visibility on India's growth and policy trajectory. On the technical front, the index encountered resistance at its 50-DMA, which remains a key hurdle for further upside. The relative strength index (RSI) has recovered from oversold territory and recently broke above a downward-sloping trendline. It is now consolidating near the neutral 52 level, indicating improving momentum. The MACD has turned positive but remains below both its signal line and the zero axis, suggesting that although downside pressures have eased, a sustained confirmation of trend reversal is still awaited. 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 six. Going forward, 25,000 and the 50-DMA will remain key resistance zones. A decisive close above the 50-DMA could open a path for further upside toward 25,250-25,350 in the near term. On the downside, immediate support is placed at 24,700. A break below this could negate the ongoing recovery attempt and reintroduce selling pressure, with subsequent support levels aligned at 24,600 and 24,350. How did Nifty Bank perform? Nifty Bank has a gap-up opening on Monday and sustained its momentum throughout the session. The index opened at 55,940.60 and traded within 55,647.65 and 56,156.30 before closing at 55,734.90. It formed a bullish candle pattern on the daily chart, marked by a higher-high and higher-low price structure, indicating continued strength. It gained nearly 0.71% intraday, reflecting resilient buying interest. Financial stocks, particularly banking majors, were among the key drivers. The rally was largely aligned with the broader market uptrend. These reforms are expected to stimulate consumption and economic activity, further supporting sectoral strength in banks. The RSI edged higher than in the previous session and is now placed at 48. The MACD continues to display a negative crossover, signaling persistent weakness in momentum. Collectively, these indicators point to a short-term bearish bias, warranting a cautious approach. However, according to O'Neil's methodology of market direction, Nifty Bank remains in an 'Uptrend Under Pressure". Nifty Bank ended the session in positive territory while retesting its 21-DMA, though it ultimately closed just below this key level. The ongoing buying momentum indicates potential for the index to reclaim its 50-DMA near 56,350 in the coming sessions. On the downside, immediate support is seen at around 56,200, making it a critical level to watch. A decisive breach below this zone could invite volatility and dampen sentiment. For now, the trend remains constructive, provided support levels are respected. 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.
Mint
6 days ago
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 14 August
Stock market today: The Indian stock market saw broad-based buying on Wednesday, 13 August, with benchmarks closing higher amid upbeat global cues. The Sensex gained 304 points, or 0.38%, to end at 80,539.91, while the Nifty 50 added 132 points, or 0.54%, to settle at 24,619.35. Mid- and small-cap stocks outperformed, with the BSE Midcap rising 0.56% and the BSE Smallcap climbing 0.58%. Amid this, here are two stock recommendations by MarketSmith India for 14 August: Buy: NMDC Ltd (current price: ₹72.50) Nifty 50 recap | 13 August Indian equity benchmarks closed higher on Wednesday, recovering from yesterday's losses, as investors cheered a broad-based rally fuelled by positive global cues and softer domestic inflation data. The Sensex gained 304 points to settle at 80,539, while the Nifty 50 added 131 points, finishing above the psychologically important 24,600 level at 24,619. US retail inflation moderated to 0.2% month-on-month in July, boosting expectations of a Federal Reserve rate cut in September. At home, India's retail inflation eased to an eight-year low of 1.55% in July, providing an additional tailwind for equities. Market breadth favoured gains, with 1,685 stocks advancing on the NSE against 1,287 declining. On the charts, Nifty sustained above its 100-day moving average (DMA) and the key 24,600 mark, signalling near-term stability. The relative strength index (RSI) has rebounded from oversold territory to 44, though it remains constrained by a downward-sloping trendline, suggesting limited upside momentum. Meanwhile, the MACD continues to show a bearish configuration, trading below both its signal line and the zero axis, highlighting persistent negative pressure in the broader trend. According to O'Neil's market direction methodology, the index is in an 'Uptrend Under Pressure," as it breached its 50-DMA and the distribution day count rose to six. Nevertheless, Nifty's close above 24,600 and support at the 100-DMA, accompanied by improving momentum indicators, reflect strengthening underlying price action and an ongoing recovery attempt. A sustained move above 24,600 would be a constructive technical signal, potentially opening the path to the 24,800-24,850 resistance zone. On the downside, the recent swing low at 24,330 serves as critical support; a decisive break below could invalidate the current recovery and reignite selling pressure, with subsequent support levels at 24,200 and 24,000. On Wednesday, Nifty Bank opened with a gap-up, briefly touching an intraday high of 55,340 in the early minutes of trade. However, it was unable to sustain these levels and quickly gave up initial gains. The session remained volatile, with the index oscillating in a narrow range as participants engaged in selective buying and profit booking. Despite the swings, Nifty Bank recovered to close in positive territory, forming a bullish candlestick pattern and successfully defending its 100-day moving average (DMA), a key support zone. The index traded between 55,340.05 and 55,026.95 before settling at 55,181.45. The relative strength index (RSI) moved sideways during the session and currently stands at 39, reflecting subdued price momentum. Meanwhile, the MACD continues to show a negative crossover, signalling persistent weakness. Collectively, these indicators point to a short-term bearish bias, suggesting caution for traders. According to O'Neil's methodology of market direction, Bank Nifty is in an 'Uptrend Under Pressure," underscoring a fragile backdrop where selective participation and disciplined risk management are essential. Holding above the 100-DMA for the fourth consecutive session indicates resilience. Sustained buying from current levels could push the index toward immediate resistance at 56,200. A decisive breakout above this zone may accelerate bullish momentum, opening the door for further near-term gains. On the downside, 55,000 remains critical support; a breach below this level could trigger deeper declines and heightened volatility, requiring vigilance from traders in the sessions ahead. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543). Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. 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.
Mint
7 days ago
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 13 August
Stock market today: After gaining nearly 1% the previous day, the Indian stock market resumed its downward trend on Tuesday, 12 August, dragged lower by losses in heavyweight stocks such as HDFC Bank, ICICI Bank, and Reliance Industries. The Sensex closed at 80,235.59, down 368 points or 0.46%, while the Nifty 50 ended the day at 24,487.40, falling 98 points or 0.40%. Meanwhile, the mid-cap and small-cap segments outperformed broader markets, with the BSE Midcap index slipping 0.25% and the Smallcap index inching up 0.04%. Amid this, here are two stock recommendations by MarketSmith India for 13 August: Nifty 50 recap | 12 August The Nifty 50 came under significant pressure on 12 August, as lingering concerns over global tariffs and geopolitical uncertainty weighed on investor sentiment. After reaching an intraday high of 24,700, the index reversed sharply, closing near the day's low at 24,465.65, down over 200 points. Benchmark indices ended a volatile session in the red, with weakness in Realty, FMCG, and Financial sectors dragging the broader market down. Although the day began on a positive note, gains proved short-lived, as range-bound trading dominated most of the session. Selling intensified in the final hour, amplifying downside momentum. However, selective buying in Auto, IT, Pharma, and Oil & Gas sectors helped cushion losses somewhat. Market breadth remained negative, with the NSE advance-decline ratio around 1,422 to 1,544, reflecting weak overall sentiment amid mixed sectoral performance. On the technical front, the daily chart showed a small red candle with a long upper shadow, signalling intraday selling pressure and a lack of follow-through strength to breach key resistance levels. This price action suggests fading upward momentum and hesitation near critical hurdles. The Relative Strength Index (RSI), currently at 40, has rebounded slightly from oversold levels but continues to face resistance from a downward-sloping trendline, indicating a pause in bullish momentum. Meanwhile, the MACD remains in a bearish crossover, trading below its signal line and the zero axis, reinforcing the prevailing negative bias. According to O'Neil's market direction methodology, the market status was downgraded to 'Uptrend Under Pressure" as the Nifty breached its 50-day moving average (50-DMA) and the distribution day count rose to six. The index attempted to reclaim 24,600 during intraday trading but failed to sustain momentum, closing below 24,500. This leaves the Nifty consolidating within a defined range of 24,300 to 24,600, reflecting broader indecision. Looking ahead, a decisive close above 24,600 would be a positive technical signal, potentially driving the index toward 24,800–24,850 in the near term. On the downside, the recent swing low at 24,330 now serves as a critical support level. A break below this could invalidate the current recovery attempt and resume a broader corrective phase, with further support near 24,200 and 24,000 levels. Nifty Bank Performance | 12 August On Tuesday, 12 August, Nifty Bank opened weak and remained in negative territory throughout the session, reflecting sustained selling pressure. The index formed a bearish candle on the daily chart, characterized by a higher high and higher low price structure, yet it successfully defended its 100-day moving average (100-DMA). Opening at 55,441.10, the index fluctuated between an intraday high of 55,566.70 and a low of 55,001.50 before closing at 55,043.70. The price action pointed to a lack of buying interest, with sellers dominating most of the day. Most heavyweight constituents ended in the red, intensifying downward pressure, with Canara Bank the sole exception closing in positive territory. Overall, the session underscored weakness in the banking sector, which continued to weigh on market sentiment. Technical indicators signal caution: the RSI has turned downward and currently hovers near 37, indicating a loss of momentum and growing selling pressure. Meanwhile, the MACD maintains a negative crossover, pointing to sustained weakness in market momentum. Together, these signals reinforce a short-term bearish outlook. According to O'Neil's market direction methodology, Bank Nifty remains in an 'Uptrend Under Pressure," highlighting a cautious and fragile market environment. Despite closing lower, the index held above its 100-DMA, indicating some resilience at lower levels. If buying interest strengthens, Bank Nifty could attempt an upward move toward 56,200, the immediate resistance zone. A breakout above this level may trigger further bullish momentum in the near term. On the downside, 55,000 serves as a critical support level; a decisive breach here could lead to deeper declines and increased volatility, keeping traders on alert in the sessions ahead. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543). Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. 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.
Sydney Morning Herald
7 days ago
- Business
- Sydney Morning Herald
Union movement to push for four-day work week at economic roundtable
The union movement will push for a four-day work week at the Albanese government's upcoming economic round table in a bid to improve work-life balance. Australian Council of Trade Unions president Michele O'Neil will cite academic research that argues businesses can achieve greater levels of productivity if the policy is implemented. The four-day model would apply to industries where appropriate and sector-specific alternatives would be suggested where it is not feasible. O'Neil's push for the popular workplace policy will likely cause a clash between the unions and workplace groups on what the best approach will be to improve productivity. The ACTU will also argue that pay and conditions including penalty rates, overtime and minimum staffing levels would be protected to ensure a reduced working week does not result in a loss of pay. Loading O'Neil told this masthead she was confident this proposal would be well received at the economic roundtable beginning on Tuesday next week. 'We really are hopeful that there's an open mind that we see employers and organisations come to the roundtable willing to think about how are we going to do things differently and not have knee-jerk reactions to proposals,' she said. 'It's a way of sharing productivity improvements that will really benefit workers and their families, but also it'll be good for business. So we're optimistic at the roundtable, but we also know there's a lot to discuss.'
The Age
7 days ago
- Business
- The Age
Union movement to push for four-day work week at economic roundtable
The union movement will push for a four-day work week at the Albanese government's upcoming economic round table in a bid to improve work-life balance. Australian Council of Trade Unions president Michele O'Neil will cite academic research that argues businesses can achieve greater levels of productivity if the policy is implemented. The four-day model would apply to industries where appropriate and sector-specific alternatives would be suggested where it is not feasible. O'Neil's push for the popular workplace policy will likely cause a clash between the unions and workplace groups on what the best approach will be to improve productivity. The ACTU will also argue that pay and conditions including penalty rates, overtime and minimum staffing levels would be protected to ensure a reduced working week does not result in a loss of pay. Loading O'Neil told this masthead she was confident this proposal would be well received at the economic roundtable beginning on Tuesday next week. 'We really are hopeful that there's an open mind that we see employers and organisations come to the roundtable willing to think about how are we going to do things differently and not have knee-jerk reactions to proposals,' she said. 'It's a way of sharing productivity improvements that will really benefit workers and their families, but also it'll be good for business. So we're optimistic at the roundtable, but we also know there's a lot to discuss.'
