Latest news with #ShrikantChouhan
Mint
2 days ago
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Friday — 30 May 2025
Stock Market Today: The benchmark Nifty-50 Index manaed to end a volatile trading session on Thursday with gains of 0.33% at 24,833.60. The Bank Nifty also ended 0.23% higher at 55,546.05 as most other sectors led by Realty, Metal and Healthcare gained. The broader indices also ended with almost half a per cent gains. For Nifty-50 Index 24,700 and 24,650 would act as key support zones and if the market sustains above these levels, the chances of hitting 25,000 -25,100 would become brighter. However, a break below 24,650 could change the sentiment, said Shrikant Chouhan, Head Equity Research, Kotak Securities: For Bank Nifty, the support is placed near 54,900 and as long as the index remains above this level, a relief rally towards 56,000 cannot be ruled out, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. Looking ahead, we expect the market to remain range-bound, with sector rotation and stock-specific movements driven by the final set of Q4 results on Friday, macro-economic indicators, and developments on the US tariff front., said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks Jindal Steel & Power Ltd- Bagadia recommends buying Jindal Steel & Power or INDALSTEL at Around ₹ 971 keeping Stoploss at around ₹ 937 for a target price of ₹ 1040 JINDALSTEL is currently trading around ₹ 971, showing a strong recovery from recent lows and indicating a potential reversal in trend. The stock is on the verge of breaking its recent lower-high structure, supported by a significant surge in trading volumes—highlighting increased market participation and renewed buying interest. A sustained move above the ₹ 986 level would confirm a bullish breakout, potentially paving the way for an upside move toward the short-term target of ₹ 1040. 2. Mazagon Dock Shipbuilders Ltd- Bagadia recommends buying Mazagon Dock Shipbuilders or MAZDOCK at around ₹ 3751.20 keeing Stoploss at ₹ 3619 for a target price of ₹ 4014 MAZDOCK is currently trading at ₹ 3751.20, maintaining a strong uptrend marked by the formation of consistent higher highs and higher lows—an indication of sustained bullish momentum. The stock recently reached an all-time high of ₹ 3775, with a critical resistance level identified near ₹ 3800. A decisive breakout above this level could attract further buying interest and drive the stock toward its next potential target of ₹ 4017 3. Glenmark Pharmaceuticals Ltd - Dongre recommends buying Glenmark Pharmaceuticals or GLENMARK at around ₹ 1410 keeping Stoploss at ₹ 1370 for a target price of ₹ 1450 In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1410 and holding above a key support level at ₹ 1370. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1370 to manage downside risk. The target for this trade is set at ₹ 1450, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 4. Bharat Electronics Ltd- Dongre recommends buying Bharat Electronics or BEL at ₹ 386 keeping Stoploss at ₹ 375 for a target price of ₹ 405 Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 386 and maintaining a strong support at ₹ 375. The technical setup indicates the potential for a price retracement towards the ₹ 405 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 375 offers a prudent approach to capturing the anticipated upside. 5. Tata Consultancy Services Ltd or TCS- Dongre recommends buying TCS at around ₹ 3500 keeping Stoploss at ₹ 3450 for a target price of ₹ 3600. Stock is currently trading at ₹ 3500 and appears to be in bullish zone for short term. A bullish reversal pattern has emerged on the daily chart, indicating a potential upmove. The critical support level lies at ₹ 3450, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 3600 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound. 6. Ideaforge Technology Ltd - Koothupalakkal' recommends buying Ideaforge Technology or IDEA FORGE at around ₹ 539.80 for a target price of ₹ 570 keeping Stop loss at ₹ 528 The stock maintained with a strong bullish trend has once again witnessed a significant revival after a short period of correction taking support near the ₹ 501 zone to improve the bias and anticipate for another fresh round of upward move in the coming sessions. The RSI after correcting from the highly overbought zone is well positioned and has indicated a positive trend reversal to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking good, 7. Graphite India Ltd -Koothupalakkal' recommends buying Graphite India or GRAPHITE INDIA at around ₹ 553 for a target price of ₹ 585 keeping Stop loss at ₹ 542 The stock after having a strong steep rise recently has corrected to some extent forming a flag pattern on the daily chart and currently has indicated a breakout to improve the bias and anticipate for fresh upward move in the coming days. The RSI has indicated strength and once again with a positive trend reversal indication has signaled a buy with upside potential visible. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 585 level keeping the stop loss of ₹ 542 level. 8. Nava Ltd - Koothupalakkal' recommends buying NAVA at around ₹ 473.90 for a target price of ₹ 500 keeping Stop loss at Around ₹ 462 The stock has indicated a bullish candle formation on the daily chart after a short period of consolidation to come out of the narrow range bound zone and has improved the bias to anticipate for further rise. The RSI is well positioned indicating a trend reversal to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for an upside target of ₹ 500 level keeping the stop loss of ₹ 462 level. 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
3 days ago
- Business
- Mint
BSE Midcap, Smallcap indices surge up to 10% this month, outshining Nifty 50, Sensex; is a stock market bubble brewing?
The Indian stock market looks set to extend its winning streak to the third consecutive session in May, helped by easing tariff worries, improving macroeconomic conditions, largely stable Q4 results, and foreign capital inflow. While the market is witnessing buying across segments, barring intermittent profit booking, a notable fact is the significant outperformance of broader markets. In May till the 28th, the benchmark Sensex has gained over 1 per cent and the Nifty 50 has climbed almost 2 per cent. However, the broader markets have outperformed significantly, with an over 5 per cent gain in the BSE Midcap index and a 10 per cent gain in the BSE Smallcap index. Some small-cap stocks such as Suven Life Sciences and Cosmo First have surged more than 80 per cent in the last one month. The sharp gains in the mid- and small-cap segments this month could be attributed to better-than-estimated Q4 earnings and moderation in premium valuation. Easing global risks, the prospects of healthy economic growth, an above-normal monsoon, and the RBI's rate cuts are also among key factors that seem to have boosted the broader market sentiment. Moreover, experts suggest that retail investors, in the pursuit of quick gains, could be chasing mid and small-caps after their underperformance over the last few months. Year-to-date, the Sensex and the Nifty 50 have gained 4 per cent and 5 per cent, respectively, while the BSE Midcap index has declined 3 per cent and the BSE Smallcap index has suffered a loss of 5.5 per cent. "The outperformance in mid- and small-caps this May is a mix of factors, including geopolitical tensions like the India-Pak war scare that have eased, US tariff rhetoric that has softened, the monsoon forecast and the above-expectations Q4 earnings. All of this has improved sentiment toward India's domestic story," Trivesh, COO, Tradejini, observed. Trivesh underscored that the pharma and FMCG have seen renewed interest due to rising income levels and steady rural demand, while niche mid-cap names in capital goods, chemicals, and auto ancillaries continue to offer structural opportunities. Shrikant Chouhan, the head of equity research at Kotak Securities, underscored that the Nifty 50 is trading at 19 times the one-year forward earnings for FY27, which is expensive. However, the market appears to be relatively relaxed despite uncertainties in global macroeconomic conditions. "In such situations, it is common for activity to shift toward mid and small-cap stocks. Our strategy should focus on a bottom-up approach," said Chouhan. According to Pawan Bharaddia, the co-founder of Equitree Capital, the crux of this rebound in small and mid-caps has been on two counts primarily – stabilisation of geopolitical issues including India-Pakistan, Tariffs uncertainty being postponed and earnings growth coming about in small and mid-caps. "Basis Q4 announced till date, large caps have reported about 9 per cent year-on-year (YoY) growth, whereas mid-caps have delivered about 12 per cent growth. Small caps have had a mixed bag. However, that remains always a ground-up investment genre, and if we reflect on our own portfolio companies, we have seen around 18 per cent YoY growth for the quarter. This growth is leading the outperformance," said Bharaddia. Experts point out the valuation and suggest maintaining caution in the mid and small-cap segments. "Investors need to be cautious, valuations are not cheap. Instead of chasing rallies, it's smarter to use corrections to build positions selectively. In this space, patience and quality matter more than timing," said Trivesh. According to Bharaddia, investors should approach small-caps in a stock-specific manner. He believes generalising the segment based on headline valuations or growth often leads to distorted reference points and distracts from growing companies. Another aspect that Bharaddia highlighted is that one should always remember to stagger investments rather than invest the entire funds in one go while investing in small caps. "Inherently, this genre is volatile, and one would be better off to leverage this volatility by staggered investing rather than getting played out by it," said Bharaddia. Bharaddia sees a lot of opportunities across engineering, manufacturing, infrastructure, ancillaries and select consumer plays. "We are largely playing out four multi-year structural themes – increasing export opportunities for Indian manufacturing, import substitution, continuous infra spend and the larger Indian consumption story. We believe these are decadal themes and one needs to just remain invested and allow the power of compounding to play out for wealth creation in these opportunities," said Bharaddia. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Mint
3 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on May 29 after Trump's tariffs blocked
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, tracking positive cues from global markets. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,843 level, a premium of nearly 80 points from the Nifty futures' previous close. Sentiment in the global markets improved after the Manhattan-based Court of International Trade blocked President Donald Trump from imposing tariffs on countries under emergency powers law. On Wednesday, the domestic equity market ended lower for the second consecutive session, with the benchmark Nifty 60 The Sensex dropped 239.31 points, or 0.29%, to close at 81,312.32, while the Nifty 50 settled 73.75 points, or 0.30%, to lower at 24,752.45. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex hovered between 81,200 and 81,600 on Wednesday and formed a small bearish candle on daily charts, which indicates indecisiveness between the bulls and the bears. 'We believe that the intraday market texture is non-directional; perhaps traders are waiting for a breakout on either side. For day traders, now, 81,600 would be the immediate breakout level. Above this, Sensex is likely to retest the levels of 82,100 – 82,500. On the other hand, below 81,200 could accelerate selling pressure, with support levels at 80,800 – 80,400,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. In the derivatives space, the highest Call open interest (OI) was at the 25,000 strike, while the highest Put OI stood at 24,500, suggesting a likely near-term range between 24,500 and 25,000. Market participants should continue monitoring global cues and domestic macro data for further direction, said Mandar Bhojane, Equity Research Analyst at Choice Broking. Nifty 50 declined 0.30% to end at 24,752.45 on May 28, forming a modest bearish candle. 'Nifty 50 failed to reclaim the 9 EMA and drifted closer to the 20 EMA, reflecting sustained selling pressure at higher levels. A double top pattern has emerged near the 25,000 zone, where the index has repeatedly faced rejection. However, Nifty 50 has not yet breached the recent swing low of 24,460, but weakness still persists. The 23.6 percent Fibonacci retracement, placed near 24,312, may serve as a meaningful support if the decline deepens,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, a decisive move above the 25,000 - 25,020 is still essential for the continuation of bullish set up. Until that occurs, the index remains vulnerable to further downside. The current tone appears cautious, with neither the bulls nor the bears taking full control. Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. highlighted that the Nifty 50 index formed a red candle on the daily chart, indicating weakness. 'However, it continues to trade above its 21-Day Exponential Moving Average (21-DEMA), which is positioned near 24,570. As long as the index holds above this level, the probability of a pullback move cannot be ruled out. On the upside, the index is likely to face strong resistance near the 25,000 – 25,100 zone,' Yedve said. Dr. Praveen Dwarakanath, Vice President of said that the Nifty 50 continues to be range bound between 24,500 and 25,150 levels, with sell near higher levels and buy near dips. 'The higher timeframe momentum is still suggesting an upside, thus yesterday's fall is an opportunity to go long. The fall has pushed the stochastics on hourly charts to an oversold region suggesting a possible bounce from the current levels,' Dwarakanath said. Bank Nifty gained 64.20 points, or 0.12%, to close at 55,417.00 on Wednesday, forming a small-bodied green candle amid a narrow trading range. 'Bank Nifty index during the current week tested the upper band of the last 4 weeks consolidation range placed around 55,800 - 56,000 levels. Overall, we expect the Bank Nifty index to extend the last 4 weeks' consolidation in the broad range of 56,000 - 53,500. Only a move above 56,000 levels will signal acceleration of the up move towards 56,700 levels in the coming sessions,' said Bajaj Broking Research. According to the brokerage firm, immediate support is placed at 54,800 levels, while short-term support is seen at 54,000 - 53,500 being the confluence of key retracement and 50 days EMA. Om Mehra believes that the index remains supported above its rising trendline on the daily chart and the midline of the Bollinger Bands, indicating that short-term support is still intact. The resistance remains near the upper band, around 55,900, which may limit the upside attempts. 'The RSI stands at 59, while the MACD remains skewed to the downside. A breakout above 55,900 would signal fresh bullish momentum, with the potential to test lifetime highs. On the downside, 54,980 remains immediate support, followed by 54,400 if selling pressure intensifies,' said Mehra. Hrishikesh Yedve said that the Bank Nifty index formed a small green candle on the daily chart, indicating strength. 'On the upside, it is still facing resistance near the 56,000 – 56,100 zone. On the downside, 21-DEMA support is placed near 54,830. As long as the index remains above this level, it could attempt a relief rally towards 56,000 levels,' Yedve said. 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.
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Business Standard
4 days ago
- Business
- Business Standard
Stock Market LIVE Updates: Sensex down 200 pts; Belrise Industries lists at premium on NSE, BSE
10:10 AM Stock Market LIVE Updates: Belrise Industries shares list at 11% premium 9:44 AM Stock Market LIVE Updates: LIC stock zooms nearly 6% post Q4 results Stock Market LIVE Updates: LIC shares rally nearly 6 per cent in trade on Wednesday, May 28. LIC stock was trading higher after the state-owned company posted healthy Q4 results. LIC's net profit for the March 2025 quarter grew 38 per cent year-on-year (Y-o-Y) to Rs 19,012 crore, supported by a steep decline in expenses for the company. In Q4, the annualised premium equivalent (APE) dropped nearly 11 per cent to Rs 18,853 crore from Rs 21,180 crore in the year-ago period. 9:21 AM Stock Market LIVE Updates: Broader markets rise in trade 9:20 AM Stock Market LIVE Updates: Index heatmap Stock Market LIVE Updates: Index heatmap -- Infosys, Bharti Airtel and Tata Motors among top gainers on BSE -- ITC, Titan and Nestle among top drags 9:17 AM Stock Market LIVE Updates: Nifty opens slightly higher 9:15 AM Stock Market LIVE Updates: Sensex opens lower Stock Market LIVE Updates: Sensex opens lower -- Sensex opens at 81,457.61 --Sensex previous close was 81,551.63 9:06 AM Stock Market LIVE Updates: Rupee opens lower on Wednesday 9:01 AM Stock Market LIVE Updates: Pre-market opening view Stock Market LIVE Updates: Pre-market opening view --- Benchmark indices witnessed a volatile trading session. After a volatile trade, Nifty closed 175 points lower while Sensex was down 625 points. Among sectors, the defence index outperformed and gained over 1 per cent, while select auto, banking and IT stocks witnessed intraday profit booking. --- After the initial decline, the market bounced back sharply, but again we saw a hefty profit booking at higher levels. Currently, the market is witnessing non-directional activity; perhaps traders are waiting for a breakout from either side. --- Technically, 24,700/81100 would be the key support zone for traders, while 25,000-25150/82200-82700 would act as a crucial resistance zone for the bulls. As long as the market trades within this range, a range-bound pattern is likely to persist. On the upside, a successful breach of 25,150/82700 could take the market to 25,300–25,500/83200-83800. On the downside, a fall below 24,700/81100 could lead to a retest of 24,600 or 24,450/80900-80500 levels. --- Today, keep a close eye on 24600 levels (20-day SMA) as a bullish reversal from here could lead to a retest of 24950-25000 levels. A close below 24600 would be negative. India VIX is still at 19 levels, which will keep the market volatile. For Bank Nifty, expect a range bound activity between 56100 and 55000. Views by: Shrikant Chouhan, head of equity research, Kotak Securities:. 8:58 AM Stock Market LIVE Updates: Rupee weakens after two-day rally as dollar strengthens, crude rises Stock Market LIVE Updates: The rupee depreciated to 85.34 per dollar on Tuesday after logging gains on two previous sessions, a fall attributed to rise in dollar index and crude oil prices, said dealers. The selling of domestic equities also weighed on the local currency. The domestic unit had ended the previous session at 85.09 per dollar. The dollar index rose by 0.43 per cent to 99.36 on Tuesday. It measures the strength of the greenback against a basket of six major currencies. 'The rupee weakened, retreating from a two-day surge, as the dollar strengthened against major currencies. This dollar recovery was fuelled by a rebound in US bonds, which in turn was prompted by indications from Japan that it is considering a reduction in its bond issuance. This news encouraged investors to seek alternatives in dollar-denominated assets,' said Dilip Parmar, senior research analyst at HDFC Securities. READ MORE Connect with us on WhatsApp
Indian Express
4 days ago
- Business
- Indian Express
Sensex falls 0.7%, Nifty ends below 25,000 on profit booking
Domestic benchmark equity indices, Sensex and Nifty, slipped 0.7 per cent each in a volatile trading session on Tuesday due to profit booking and tracking weak Asian markets. The BSE's 30-share Sensex lost 0.76 per cent, or 624.82 points, to close at 81,551.63. The broader Nifty ended 0.7 per cent, or 174.95 points, down at 24,826.2. During the session, the Sensex plunged 1.28 per cent, or 1,054 points, to an intraday low of 81,121.7 while the Nifty tanked 1.18 per cent, or 297.05 points, to touch a low of 24,704.1. 'The domestic market witnessed volatility and snapped a two-day rally, as investors opted for profit booking driven by valuation concerns and weakness across Asian markets. The benchmark index once again failed to decisively breach the 25,000 resistance level, reflecting the absence of positive triggers,' said Vinod Nair, Head of Research, Geojit Investments Ltd. After an initial fall, the market bounced back sharply, but once again, profit booking occurred at higher levels. 'Currently, the market is witnessing non-directional activity; perhaps traders are waiting for an either-side breakout,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Of the Asian indices, the Shanghai Composite lost 0.18 per cent and South Korea's Kospi declined 0.27 per cent. On Tuesday, large-cap stocks underperformed, weighed down by subdued foreign institutional investors (FII) participation and lacklustre earnings from blue-chip companies. Conversely, mid- and small-cap segments remained relatively resilient, supported by better than estimated fourth quarter earnings and moderation in premium valuation. While the BSE LargeCap fell 0.57 per cent, the BSE Midcap and BSE Smallcap rose 0.18 per cent and 0.19 per cent, respectively. Among sectors, the defense index outperformed, rallying over 1 percent, whereas intraday profit booking was seen in selective auto, banking, and IT stocks. The Nifty IT ended 0.75 per cent down and the Nifty Auto lost 0.7 per cent. The NSE companies that declined the most were Ultratech Cement (2.28 per cent), JSW Steel (2.02 per cent), ITC Ltd (1.85 per cent), Tata Motors (1.65 per cent) and Grasim Industries (1.63 per cent).
