Latest news with #RajeshPalviya
Mint
4 days ago
- Business
- Mint
Stocks to buy: Rajesh Palviya of Axis Sec suggests Torrent Pharma, Prestige Estates, V-Guard shares today
Stock market today: The Indian stock market started off flat on Friday as ongoing weak investor sentiment persisted due to continued selling by Foreign Portfolio Investors (FPIs) and a lackluster earnings season in the IT sector. The Nifty 50 index commenced at 25,108.55, experiencing a slight decline of 2.90 points or 0.01 percent. At the same time, the BSE Sensex opened the session at 82,193.62, dropping by 65.62 points or 0.08 percent. Analysts attributed the market's weak opening to the current disappointing earnings reports. On the technical front, Rajesh Palviya of Axis Securities, believes Nifty 50's short-term outlook remains cautious with expected upside of 25,400-25,500 levels. Palviya recommends three stocks to buy. Here's what he says about the overall market. On the daily and hourly charts, the index is trending lower, forming a series of lower tops and bottoms, indicating negative bias. Nifty 50 is sustaining below its 20-day SMA, which signals a short-term downtrend. From current levels, the short-term outlook remains cautious with expected upside of 25,400-25,500 levels. On the downside, the short-term supports are placed around 25,000-24,900 levels. The daily strength indicator RSI has turned bearish and sustained below its reference lines, indicating a loss of strength. On the daily and weekly charts, the stock has experienced continuation of the prior uptrend, forming a series of higher tops and bottoms. In addition, the weekly prices have also confirmed a "down-sloping trendline" breakout at 3,400 levels, which signals a strong comeback of bulls. The past 3-4 weeks' rising volumes signify increased participation. The stock is sustaining above its 20, 50, 100 and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily and weekly strength indicator, Relative Strength Index (RSI), is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 3,700-3,950, and its downside support zone is the 3,450-3,400 levels. On the daily chart, the stock has confirmed a "multiple resistance zone" of 1760 levels on a closing basis, which shows bullish sentiments. Huge rising volumes on breakout signify increased participation. The daily "band bollinger" buy signal indicates increased momentum. The stock is sustaining above its 20, 50, 100 and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily and weekly strength indicator, Relative Strength Index (RSI), is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 1,900-1,950, and its downside support zone is the 1,720-1,700 levels. On the daily chart, the stock has surpassed the 5-6 months multiple resistance zone of 400 levels on a closing basis. Huge rising volumes on breakout signify increased participation. The stock is sustaining above its 20, 50, 100 and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily and weekly strength indicator, Relative Strength Index (RSI), is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 430-450, and its downside support zone is the 390-385 levels. 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
11-07-2025
- Automotive
- Mint
Stocks to buy: Rajesh Palviya of Axis Sec suggests CarTrade, EPACK Durable, Glenmark Pharma shares today
Stock market today: The Indian stock markets started the day in the red on Friday as ongoing tariff disputes, driven by US President Donald Trump, alongside disappointing earnings from the IT sector, dampened investor morale. The benchmark Nifty 50 index began trading at 25,255.50, marking a decline of 99.75 points or 0.39%, while the Sensex fell by 369.52 points or 0.44%, opening at 82,820.76. Analysts linked the weak market opening to renewed concerns over tariffs and uninspiring corporate earnings, especially from the IT sector. According to Rajesh Palviya from Axis Securities, the medium-term perspective for Nifty 50 continues to be positive, with the possibility of reaching the 25,800–26,000 range. Here's what Palviya says about the overall market. Nifty 50 is exhibiting a strong uptrend on the weekly chart, forming a series of higher highs and higher lows, reflecting sustained bullish sentiment. The index continues to trade above its key moving averages (20, 50, 100, and 200-day SMAs), reinforcing a positive bias. The medium-term outlook remains bullish, with upside potential toward the 25,800–26,000 zone. On the downside, immediate support is seen near the 25,000–24,500 levels. However, in the short term, Nifty 50 is consolidating within a tight range of 25,650 to 25,200, suggesting a healthy pause. The weekly RSI has flattened but remains above its reference line, indicating that momentum is intact despite the recent sideways movement. CarTrade share price has registered a breakout above a Symmetrical Triangle pattern on the weekly chart, confirming the continuation of its medium-term uptrend. The stock is trading firmly above its 20, 50, 100, and 200-day SMAs, reinforcing the prevailing bullish bias. Notably, the breakout was accompanied by a surge in volumes, signalling strong market participation. Furthermore, the weekly RSI has crossed above its signal line and is sustaining above the 50 mark, adding momentum to the bullish setup and triggering a fresh buy signal. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 1,960-2,080, and its downside support zone is the ₹ 1,760-1,700 levels. Epack Durables share price has firmly held above the key support zone near 325 and staged a sharp rebound on the weekly chart, signalling the onset of a fresh uptrend. The stock has also broken above a downward sloping trendline that had been in place since January 2025, reinforcing a shift in momentum and indicating a positive bias. Additionally, the weekly RSI has crossed above its signal line, lending further strength to the bullish setup and triggering a new buy signal. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 408-420, and its downside support zone is the ₹ 356-347 levels. Glenmark Pharma share price has broken out above a well-defined Rounded Bottom formation near the 1,830 level on the weekly chart, confirming the continuation of its medium-term uptrend. The breakout above the upper Bollinger Band further strengthens the bullish signal, pointing to renewed upward momentum. Notably, volume remained muted during the pattern formation but spiked at the breakout, indicating strong market participation. Additionally, the weekly RSI continues to hold above its signal line, reinforcing the positive bias and supporting the bullish outlook. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 2,090-2,150, and its downside support zone is the ₹ 1,860-1,780 levels. 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
11-07-2025
- Business
- Mint
Jane Street's regulatory woes may have just begun: Sebi lens is now on Sensex options
The capital markets regulator's investigation into alleged index manipulation by Jane Street will extend to the Sensex options contracts as well, according to two persons aware of the matter. These contracts have gained traction over the past two fiscal years. So far, the Securities and Exchange Board of India's (Sebi) interim order of 3 July has focused on 21 instances of Jane Street trades on the highly liquid but now-discontinued Bank Nifty weekly options and the Nifty weekly options between 1 January 2023 and 31 March 2025. The firm allegedly made illegal gains of ₹4,844 crore in these trades, largely at the expense of individual investors, according to Sebi. "The investigation is ongoing and would not be limited to the NSE indices, but would also include the Sensex options, whose popularity soared in the past two financial years," said one of the persons cited earlier, speaking on the condition of anonymity. According to the second person, who also didn't want to be identified, "Sensex options have gained market share in recent years and by that token, trades here too would not escape regulatory attention for any possible instances of manipulation by the JS Group." From January 2023 to March 2025, Jane Street group's total profit from trading index stocks and derivatives, and cash market was ₹36,502.12 crore. Sebi has ordered the seizure of ₹4,844 crore of the total so far even as its investigation into alleged manipulation continues. Jane Street is expected to respond to Sebi's order in the coming days. Queries emailed to Sebi on its investigation into Jane Street's trading patterns on Sensex options remained unanswered until press time. BSE Ltd declined to comment. While Nifty and Bank Nifty enjoyed huge popularity among options traders, including individuals and proprietary participants, the Sensex was the third most popular options index, distantly followed by Finnifty and Midcap Nifty. To offer context, the market share of NSE in equity options based on premium turnover stood at 96.9% as of November 2023, with BSE options accounting for the rest, according to exchange data. As recently as May this year, BSE had eaten into NSE's share, garnering 20.6% of the options market, with its larger rival holding 79.4%. However, with the likelihood of a further clampdown by Sebi in light of the Jane Street fiasco, sentiment has taken a beating with BSE shares falling 2.3% to ₹2,466.30 on Thursday. With this, the BSE stock is hovering around a bearish market, having plunged 18.6% from a 52-week high of ₹3,030 on 10 June to date. NSE is unlisted. A 5-10% fall from a high is a pullback; a 10-20% decline is a correction; and a stock or an index enters the bear market after plunging more than 20% from a peak. "There is a likelihood of a revision in expiry schedule of index options to one fortnightly index expiry from two weekly expiries currently, which is dampening sentiment as reflected in the fall of the BSE share," said Rajesh Palviya, SVP (derivatives &technical head of research) at Axis Securities. 'The Jane Street impact is likely to continue with the ongoing investigation." Currently, Nifty options expire on Thursday and Sensex options on Tuesday. Sebi had clamped down on the index options segment last October to rein in retail frenzy, which was resulting in outsized losses for small individual investors. Among the key changes were reducing the number of weekly expiries to one per exchange, effective November last year; and increasing the contract lot size to ₹15-20 lakh from ₹5-10 lakh from December-January.
Time of India
05-07-2025
- Business
- Time of India
Bullish setup for Nifty, Bank Nifty; pharma, oil & gas to remain in focus: Rajesh Palviya
Despite some volatility in the indices, midcap and smallcap stocks are still trading above their near-term breakout levels. We have observed participation from sectors such as oil and gas, metals, IT, and pharma, all exhibiting strength amidst this volatility. Therefore, buying interest is clearly present in the market, with traders and investors aiming to buy stocks where the risk-to-reward ratio is favourable, according to Rajesh Palviya of Axis Securities. ET Now: We did see some bit of a recovery coming in in the second half of the trading session, especially on the Nifty Bank we did see a good recovery. So, come Monday morning there are a lot of cues to watch out for. Earnings will start next week. What are the levels to watch out for in the next trading session? Rajesh Palviya: So, if we analyse in a broader sense, both indices are trading above the 20-day moving average, which is a sign of positivity on the near-term perspective. Even if we look at the India VIX which is trading at the lower band of this, it is trading at the lower band of the last five-six years. It is quoting at around 12.40 kind of level, so which is also giving a sign of that sentiments are intact on the bullish side for the market. There is no fear on the street. If we analyse the broader market, most of the midcaps and smallcaps are still holding. Despite some volatility in the indices, the midcap and smallcap stocks are still holding above their near-term, short-term breakout levels. We have seen participation from sectors like oil and gas, metal, even it, even pharma, all these sectors were showing strength in this volatility also. So, buying interest is clearly there in the street and the traders as well as investors are trying to buy stocks where risk-to-reward is in their favour, and the large accumulation activity is already done for the sectors on the buying side of the trade. For indices, we believe that till the Nifty is holding above 25,300, the trend is likely to exhibit on the bullish side. On the higher side, 25,600 to 25,500, this range may act as a supply zone, as major call writing activity has been there, especially in the last two to three trading sessions for this strike. So, once Nifty manages to cross above 25,600, then we may witness some short covering action and then the possible rally can extend further to 25,800 also. So, our view is bullish. 25,300 is the stop loss to buy and accumulate in Nifty. For Bank Nifty, 56,500 is the key support area based on the put-based concentration. Till these levels are intact, here also Bank Nifty will try to exhibit on the bullish side only. 57,200 is the immediate supply zone based on the call concentration. Once Bank Nifty manages to cross these levels, we may also see short covering action, which could take Bank Nifty higher, further to the 57,600 to 57,800 zone. ET Now: You have given the levels of Nifty and Bank Nifty, but I ask you about the sector specific, which are the pockets one should pencil in at least for next 10 days where we understand the news flow will be too heavy? Rajesh Palviya: Some of the sectors where we are witnessing fresh breakout and fresh buying activity are oil and gas, telecom, pharma, and capital goods. These sectors are attracting more buying action, especially this week. We have also witnessed a lot of stocks from these sectors showing good buying action. So, from oil and gas, there is a fresh breakout from the OMC pack, like BPCL, HPCL managed to give a fresh breakout, and from the midcap space, Chennai Petro managed to give a breakout, even Reliance is also looking bullish. So, all these stocks are showing fresh buying action. Again, gas-related stocks, like MGL, IGL, are also on an upward trend. So, all these stocks are looking bullish, and we believe the kind of breakout that happens can take these stocks further higher. Another sector where we are focusing is pharma. Some of the stocks from the pharma sectors are still trading at all-time high trajectories and the way the buying interest is there in stocks like Laurus Labs, Glenmark Pharma, even Divi's Lab, all these stocks are attracting buying, even despite these all stocks are at all-time high trajectory and some of the stocks which were under corrective mode are also started recovering from the lower band of their consolidation. So, pharma is another space where one can focus in the coming week for the buying side. And from the capital goods space, Siemens and ABB, these two stocks are looking promising, so here also one can look to buy, and we may see good up move in these stocks also. ET Now: Which are the stocks one should focus on specifically and are there any recommendation from your side? Live Events Rajesh Palviya: From the sectors discussed, I've picked two stock ideas. The first is from the pharma space — Glenmark. lenmark has given a fresh breakout from a rounding bottom formation on the weekly chart, indicating the potential for continued upside. So, we believe that here, there would be more continuity of uptrend, possible upside towards 1,890, 1,900 we may see for Glenmark. Buy and accumulate would be strategy and 1,805 should be the stop loss. Another stock that we like is Reliance Industries. Now, stock is negotiating with its September 2024 swing high and the way the stock is showing strength on the weekly chart, we believe that Reliance may continue furthermore upside and we may see good support in the indices also from the Reliance Industries itself, possible target towards 1,570 we are expecting in the near-term perspective, so buy and accumulate would be the strategy with stop loss of 1,500. ET Now: The stock for the day, perhaps the week, was Trent, that was down and out 11%. But Trent has been in a corrective phase whether it is on the back of weak updates coming in or weak outlook or a downgrade coming in from brokerages because Trent had also run up quite a bit. From here on, what do you see on the charts for Trent? Rajesh Palviya: So, we have observed that Trent, the major support area on the downside, is placed at around 5,000, 4800 for it. We have seen the same kind of corrective move earlier also for the stock. Now looking at the intensity of supply pressure in today's session, we may see furthermore down move towards 5,200, 5,100 kind of level. But again, 5,000 may act as a good support area. So, those who are looking to buy the stock in this corrective move should wait another 100-200-point correction and then one can buy and accumulate as long-term structure is bullish but yes, we may see some consolidation or range bound kind of activity in range of 5,000 to 6,000 for some more couple of month, until some revival sign we do not get from the management. So, 5,000 to 6,000 would be the broader range for the stock. So, buy in the correction would be the strategy for this stock. Your stop loss should be placed at around 4850 if you are buying in the decline.
Economic Times
05-07-2025
- Business
- Economic Times
Bullish setup for Nifty, Bank Nifty; pharma, oil & gas to remain in focus: Rajesh Palviya
Buying interest is clearly present in the market, with traders and investors aiming to buy stocks where the risk-to-reward ratio is favourable, Palviya said. Synopsis Rajesh Palviya of Axis Securities sees bullish momentum continuing as Nifty holds above key support. Pharma, oil & gas, and capital goods are showing strong breakouts. Glenmark and Reliance are top picks. Meanwhile, Trent may consolidate between Rs 5,000–Rs 6,000, offering a potential buy on dips opportunity for long-term investors. Despite some volatility in the indices, midcap and smallcap stocks are still trading above their near-term breakout levels. We have observed participation from sectors such as oil and gas, metals, IT, and pharma, all exhibiting strength amidst this volatility. Therefore, buying interest is clearly present in the market, with traders and investors aiming to buy stocks where the risk-to-reward ratio is favourable, according to Rajesh Palviya of Axis Securities. ADVERTISEMENT Rajesh Palviya: So, if we analyse in a broader sense, both indices are trading above the 20-day moving average, which is a sign of positivity on the near-term perspective. Even if we look at the India VIX which is trading at the lower band of this, it is trading at the lower band of the last five-six years. It is quoting at around 12.40 kind of level, so which is also giving a sign of that sentiments are intact on the bullish side for the market. There is no fear on the street. If we analyse the broader market, most of the midcaps and smallcaps are still holding. Despite some volatility in the indices, the midcap and smallcap stocks are still holding above their near-term, short-term breakout levels. We have seen participation from sectors like oil and gas, metal, even it, even pharma, all these sectors were showing strength in this volatility also. So, buying interest is clearly there in the street and the traders as well as investors are trying to buy stocks where risk-to-reward is in their favour, and the large accumulation activity is already done for the sectors on the buying side of the trade. For indices, we believe that till the Nifty is holding above 25,300, the trend is likely to exhibit on the bullish side. On the higher side, 25,600 to 25,500, this range may act as a supply zone, as major call writing activity has been there, especially in the last two to three trading sessions for this strike. So, once Nifty manages to cross above 25,600, then we may witness some short covering action and then the possible rally can extend further to 25,800 also. So, our view is bullish. 25,300 is the stop loss to buy and accumulate in Nifty. For Bank Nifty, 56,500 is the key support area based on the put-based concentration. Till these levels are intact, here also Bank Nifty will try to exhibit on the bullish side only. 57,200 is the immediate supply zone based on the call concentration. Once Bank Nifty manages to cross these levels, we may also see short covering action, which could take Bank Nifty higher, further to the 57,600 to 57,800 zone. Rajesh Palviya: Some of the sectors where we are witnessing fresh breakout and fresh buying activity are oil and gas, telecom, pharma, and capital goods. These sectors are attracting more buying action, especially this week. We have also witnessed a lot of stocks from these sectors showing good buying action. So, from oil and gas, there is a fresh breakout from the OMC pack, like BPCL, HPCL managed to give a fresh breakout, and from the midcap space, Chennai Petro managed to give a breakout, even Reliance is also looking bullish. So, all these stocks are showing fresh buying action. Again, gas-related stocks, like MGL, IGL, are also on an upward trend. So, all these stocks are looking bullish, and we believe the kind of breakout that happens can take these stocks further higher. Another sector where we are focusing is pharma. Some of the stocks from the pharma sectors are still trading at all-time high trajectories and the way the buying interest is there in stocks like Laurus Labs, Glenmark Pharma, even Divi's Lab, all these stocks are attracting buying, even despite these all stocks are at all-time high trajectory and some of the stocks which were under corrective mode are also started recovering from the lower band of their consolidation. So, pharma is another space where one can focus in the coming week for the buying side. And from the capital goods space, Siemens and ABB, these two stocks are looking promising, so here also one can look to buy, and we may see good up move in these stocks also. Rajesh Palviya:From the sectors discussed, I've picked two stock ideas. The first is from the pharma space — Glenmark. lenmark has given a fresh breakout from a rounding bottom formation on the weekly chart, indicating the potential for continued upside. So, we believe that here, there would be more continuity of uptrend, possible upside towards 1,890, 1,900 we may see for Glenmark. Buy and accumulate would be strategy and 1,805 should be the stop loss. Another stock that we like is Reliance Industries. Now, stock is negotiating with its September 2024 swing high and the way the stock is showing strength on the weekly chart, we believe that Reliance may continue furthermore upside and we may see good support in the indices also from the Reliance Industries itself, possible target towards 1,570 we are expecting in the near-term perspective, so buy and accumulate would be the strategy with stop loss of 1,500. ADVERTISEMENT Rajesh Palviya: So, we have observed that Trent, the major support area on the downside, is placed at around 5,000, 4800 for it. We have seen the same kind of corrective move earlier also for the stock. Now looking at the intensity of supply pressure in today's session, we may see furthermore down move towards 5,200, 5,100 kind of level. But again, 5,000 may act as a good support area. So, those who are looking to buy the stock in this corrective move should wait another 100-200-point correction and then one can buy and accumulate as long-term structure is bullish but yes, we may see some consolidation or range bound kind of activity in range of 5,000 to 6,000 for some more couple of month, until some revival sign we do not get from the management. So, 5,000 to 6,000 would be the broader range for the stock. So, buy in the correction would be the strategy for this stock. Your stop loss should be placed at around 4850 if you are buying in the decline. 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