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Business Standard
07-05-2025
- Business
- Business Standard
Bharti Airtel, Polycab: Chandan Taparia of MOFSL picks these stocks to buy
Nifty Index opened positive but failed to hold its opening levels above 24,500 zones and sank sharply by 130 points in the first hour. It was followed by the index moving in a very narrow band of around 50-60 points for the rest of the day. It formed a bearish candle on daily frame to close with losses of around 80 points and has started to form lower highs from the last two sessions. Now it has to cross and hold above 24,400 zones for strength to regain towards 24,650 then 24,750 zones while supports can be seen at 24,200 then 24,050 zones. On option front, Maximum Call OI is at 24,500 then 25,000 strike while Maximum Put OI is at 24,400 then 24,000 strike. Call writing is seen at 24,400 then 24,500 strike while Put writing is seen at 24,400 then 24,200 strike. Option data suggests a broader trading range in between 23,800 to 24,800 zones while an immediate range between 24,100 to 24,600 levels. Bank Nifty Index opened on a flattish note but failed to hold 55,000 zones and gradually drifted lower towards 54,200 zones in the latter part of the session. It formed a Bearish candle on daily scale as selling pressure is seen at higher zones to close with losses of around 650 points below 54,300 zones. Index has seen a decent profit booking of more than 2000 points in last few sessions as some pause is seen at higher zones. Now till it holds below 54500 zones weakness could be seen towards 54,000 then 53,750 levels while on the upside hurdle is seen at 54,500 then 54,750 levels. Stock recommendations Buy BHARTIARTL | CMP ₹1902 | SL ₹1860 | TGT ₹1980 Bharti Airtel Stock has retested its breakout from a consolidation zone and headed up with higher than average traded volumes. The ADX line is rising which confirms the strength of the uptrend. Buy POLYCAB | CMP ₹5909 | SL ₹5725 | TGT ₹6310 Polycab share price has broken out from an ascending triangle pattern on the daily chart and closed above its 100 DEMA. The MACD line is rising which confirms the bullish momentum. Here are the Top STOCKS TO WATCH Today Oberoi Realty stock has breached below its key support levels on the daily chart with a large bodied bearish candle. The Stochastic indicator is declining which confirms the bearish sentiment. (Disclaimer: This article is by Chandan Taparia, head derivatives & technicals, wealth management at Motilal Oswal Financial Services. Views expressed are his own.)
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Business Standard
24-04-2025
- Business
- Business Standard
Analyst suggests buying CDSL, Hero Motocorp, Glenmark Pharma: Check TP
Stocks Recommendations Buy CDSL CMP ₹1,360, Stop-loss: ₹1,310, Target: ₹1,480 The stock has broken above its 200 DEMA with rising volumes in the last few sessions. The RSI indicator is rising to support the positive momentum. Buy HEROMOTOCO CMP ₹3,940, Stop-loss: ₹3,820, Target: ₹4,210 The price has breached above a falling supply trendline on the daily chart and surpassed above its 50 DEMA. The MACD indicator is rising to support the up move. Buy GLENMARK CMP ₹1,412, Stop-loss: ₹1,375, Target: ₹1,475 The stock has bounced up from a rising support zone on the daily scale with a surge in volumes visible to support the price move. The Stochastic indicator has exited the oversold zones to confirm the price reversal.
Yahoo
27-03-2025
- Business
- Yahoo
US Dollar Weakening Is Slowing Down
After the initial shock in the markets after the Trump tariffs is seems that we are entering a face of consolidation of the dollar index showing signs of stability in the majority of forex pairs as well as the commodities like gold. If we take a look at the U.S treasury bond yields we will see a slight improvement from the lows of 4.18% to the current 4.31% which means that capital might start flowing in favor of the dollar supporting it against the pairs traded against it. This has as an effect the consolidation seen on the gold chart which has somewhat corrected to the downside after reaching a new all-time high. Although geopolitical tensions tend to keep the price of gold high and might even push it higher if we see further escalations. On the economic calendar for this week there is the publication of the PCE price index which is expected to remain static at 2.5% year over year hinting that there might be a phase of stability on the figure of the next U.S inflation data. U.S 10 year treasury bond yields: United States PCE price index: US Oil prices have risen due to a significant decrease in US crude stockpiles, with crude oil inventories in the United States fell by 4.6 million barrels for the week ending March 21, a larger decrease than the expected dip of 2.5 million barrels, according to the American Petroleum Institute (API). The market is evaluating the potential impact of a Russia-Ukraine ceasefire in the Black Sea, with some energy traders considering a return to Russia if sanctions are lifted. Despite oil prices being down over 10% since this year's peak due to global trade tensions, traders are buying bullish oil options to hedge against potential price spikes caused by US sanctions on countries like Venezuela and Iran. President Trump has signed an executive order that could impose tariffs on countries buying Venezuelan crude oil and liquid fuels, potentially impacting China, which is Venezuela's largest buyer. Despite these supply threats, analysts predict a well-supplied oil market this year with soft prices, citing potential economic slowdown due to Trump's tariffs and concerns over global demand growth. From the technical analysis perspective the price of crude oil broke above the declining channel that was in effect since mid January and is currently at a major technical resistance level which consists of the upper band of the Bollineger bands, the and the 50-day moving average. At the same time the Stochastic oscillator is in the extreme overbought levels hinting that a bearish correction might be seen in the upcoming sessions while the Bllinger bands are somewhat contracted meaning that volatility might not be there for a significant move in the near short term. Gold remains above $3,025 with a positive bias but lacks strong bullish conviction. Safe-haven demand is supported by concerns over US President Donald Trump's upcoming reciprocal tariff announcement on April 2, as well as extra tariffs on Venezuela and potential retaliatory measures against key trading partners, adding to market uncertainty, and the Federal Reserve's (Fed) outlook for two rate cuts by the end of the year. However, gains are limited by renewed US Dollar strength and an overall positive risk sentiment in financial markets. Gold prices are also influenced by weak US consumer confidence, signaling recession risks. Meanwhile, China's economic stimulus boosts risk sentiment, supporting equities and limiting gold's upside potential. From the technical analysis standpoint the price has continued its bullish momentum and found sufficient resistance on the upper band of the Bollinger bands slightly pushing it down and currently trading just above $3,000. The moving averages are confirming the bullish momentum in the market while the Stochastic oscillator has declined just below its extreme overbought levels. The Bollinger bands are still somewhat expanded showing that volatility is still there and has the potential to push even higher. In the case of a bearish correction in the market, which has no real evidence or signs of happening any time soon, the first area of technical support might be found around $2,950 which is the 161.8% of the Fibonacci extension level as well as the area of price reaction in late February. This article was submitted by Antreas Themistokleous, an analyst at ExnessExness. The opinions in this article are personal to the writer. They do not reflect those of Exness or FX Empire. This article was originally posted on FX Empire Veeva Shares Advance on Revenue, AI Growth Losses Continue for the Dollar After Lower Inflation Weekly Market Outlook for Crude Oil History's Repeatable Cycle of Capitulation US Dollar Weakening Is Slowing Down Big Money Returning for Eli Lilly
