Latest news with #VinayRajani
Mint
6 hours ago
- Business
- Mint
JSW Infra to Crompton Consumer- Vinay Rajani of HDFC Sec suggests these 3 stocks to buy in the near-term
Stock market today: Indian stocks commenced the week on a positive note on Monday, buoyed by encouraging US employment figures and indications of advancements in US-India trade negotiations, along with significant monetary policy actions from the central bank. As of 13:11 IST, the Nifty 50 had risen by 0.43% to reach 25,110 . 40, while the Sensex saw an increase of 0.35%, climbing to 82,474.86. Market analysts suggest that Indian stocks are expected to stay optimistic throughout the day. This robust momentum is being fueled not only by the RBI's interest rate reductions and liquidity initiatives but also by favourable signals from international markets. Vinay Rajani of HDFC Securities recommends JSW Infrastructure Ltd, JK Tyre & Industries Ltd, and Crompton Greaves Consumer Electricals Ltd. Check out his overall market views. Nifty 50 has finally broken out from the consolidation zone of 24,500-25,100. Broader markets have been showing strength and took the lead in this uptrend of the market. Nifty 50 is not headed towards the next resistance zone of 25,640-25,740, which happens to be unfilled down gap formed on 3 rd October 2024. Nifty Bank, Financial services, Realty, sectors have been outperforming, and the rally is further fueled by RBI policy announcement of repo rate and CRR cut last week. At present, 55% of the stocks of NSE500 are trading above their 200 DMA. This reading was as low as 10% in the month of February 2025. This type extremely low reading was seen in the previous bear markets and such instances were followed by a sharp recovery in the broader markets, which took this reading at least towards 65% to 70%. The current reading of 55% is still below the historical average and therefore we expect the broader market to improve further from here. We expect markets to remain strong, and Nifty 50 is expected to extend the rally from here. It is advisable to hold nifty longs for the upside targets of 25,640-25,740, with the stoploss of 24,845. Vinay Rajani of HDFC Securities recommends these three stocks in the near term - JSW Infrastructure Ltd, JK Tyre & Industries Ltd, and Crompton Greaves Consumer Electricals Ltd. JSW Infra share price has broken out from symmetrical triangle pattern on the weekly chart. JSW Infra share price rise was accompanied by a jump in volumes. Stock price has been sustaining above 50 DEMA and 200 DEMA. Weekly RSI has reached above 50, indicating a sustainable up trend. Weekly MACD is now placed above signal and equilibrium line. JK Tyre share price has broken out from downward sloping trend line on the daily chart. Tyre stocks are looking strong on positional charts. Stock is placed above all key moving averages. After running correction, stock seems to have resumed its uptrend. On week ended 16 th May 2025, Crompton Consumer share price broke out from downward sloping trend line on the weekly chart. Price rise was accompanied by a jump in volumes. Stock price has been sustaining above 50 DEMA resistance. Weekly RSI has reached above 50, indicating a sustainable up trend. Weekly MACD is now placed above signal line. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Mint
26-05-2025
- Business
- Mint
City Union Bank to Moil - Vinay Rajani of HDFC Sec suggests these 3 stocks to buy in the near-term
Stock market today: The Indian stock market started on a positive note as major indices Nifty 50 and Sensex kicked off the trading day with gains, reflecting a favourable sentiment. The Sensex rose by 0.66% or 537 points to reach 82,270, while the Nifty 50 climbed 0.62% or 154 points to hit 24,999. The domestic benchmark indices rallied in early trading on Monday following reports that India has ascended to become the world's fourth-largest economy. In addition, the early onset of the monsoon, the Reserve Bank's announcement of a record ₹ 2.69 lakh crore dividend to the government for FY25, and US President Donald Trump's postponement of 50 percent EU tariffs to July 9 contributed to the market's optimistic outlook, as noted by experts. As of 12:42 IST, the Nifty 50 rose 0.47% or 121.70 points at 24,975.70 level, and the Sensex increased 0.50% reaching 82,126.87 levels. Vinay Rajani of HDFC Securities recommends ICICI Prudential Nifty India Consumption ETF, City Union Bank, and Moil shares in the short-term. Also, check out his views on the overall market. Last week, Nifty 50 found support on its 20 DEMA and bounced back. 20 days EMA is currently placed near 24,500 levels. Nifty 50 is currently placed above all key moving averages, indicating bullish trend on all time frames. Last week's low and 20 days EMA are projecting strong support in the zone of 24,450-24,500 for the Nifty 50. Nifty 50 is currently passing from the consolidation, which will be violated once Nifty 50 breaks out above 24,950 resistance. Above 24,950, Nifty 50 could head towards next resistance band of 25,200-25,300, derived from the 76.4% and 78.6% retracement of the entire fall seen from all time high of 26,277 to recent swing low of 21,743. Bank-Nifty has been consolidating in the narrow range for last 5 weeks. Any level above 55,700 would confirm the fresh breakout on the upside. On the lower side band of 54,400-54,500 could offer support in the index. Nifty Midcap index has found resistance on the downward sloping trend line, while Nifty Small-cap index has formed 'Doji' candlestick pattern on the weekly charts. These developments show some sign of caution in the broader market. However, If these indices surpass the last week's high then they would negate the possibility of bearish trend reversal. Nifty PSU Bank index has broken out from the downward sloping trendline on the weekly chart. Weekly Ratio chart of PSU Banks vs Nifty 50 also confirms the potential outperformance from PSU banks. Apart from PSU Banks, Metal Index is showing good strength on the chart and should perform well in the days to come. Emerging and Asian market equity indices also have been in to narrow consolidation for last many sessions. Dollar index has resumed its down trend, as it has showed bearish breakout from 'Flag' pattern on the weekly chart. Falling dollar is usually augurs well for emerging markets and bullions. Primary trend is bullish but for the short-term consolidation is going on in the Nifty 50. Traders should continue to hold on to the long positions with 24,450 stoploss in the Nifty 50. Any level above 24,950 will confirm the fresh bullish breakout. Above 24,950, we can expect Nifty 50 to extend the rise towards next resistance zone of 25,200-25,300. Vinay Rajani of HDFC Securities recommends these three stocks in the near term - ICICI Prudential Nifty India Consumption ETF, City Union Bank, and Moil. Downward sloping trend line breakout on the weekly chart. Price has been sustaining above 200 DEMA resistance. Price is now placed above 20, 50 and 200 days EMA. Daily and weekly RSI has reached above 50, indicating sustainable up trend. Weekly MACD is now placed above signal and equilibrium line Breakout from Symmetrical triangle pattern on the weekly chart. City Union Bank share price has been sustaining above 200 DEMA resistance. Stock price is now placed above 20, 50 and 200 days EMA. Monthly RSI has reached above 50, indicating sustainable up trend. Weekly MACD is now placed above signal and equilibrium line. Breakout from the long term consolidation. MOIL share price has been sustaining above 200 DEMA resistance. Stock price is now placed above 20, 50 and 200 days EMA. Daily RSI has reached above 50, indicating sustainable up trend. Daily MACD is now placed above signal and equilibrium line. 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
12-05-2025
- Business
- Mint
Closing Bell: Maruti Suzuki to Zensar Tech - Vinay Rajani of HDFC Sec suggests these 3 stocks to buy in the near-term
Stock market today: India's stock indices surged by over 3% and were set to record their best session in nearly a year on Monday after the country established a ceasefire with Pakistan over the weekend, following the most severe cross-border conflicts in almost thirty years. As of 14:14 IST, the Nifty 50 and the Sensex increased over 3.5% each, reaching 24,899.80 and 82,315.60, respectively, positioning themselves to recover the 1.5% loss sustained after India's strikes on Pakistan the previous Wednesday. Analysts believe that the ceasefire agreement between India and Pakistan has helped reduce regional tensions, which is always advantageous for domestic stock markets. Additionally, news about a reduction in hostilities between Russia and Ukraine, with both parties agreeing to engage in peace talks in Istanbul, has alleviated global uncertainty and enhanced risk appetite across markets. Vinay Rajani of HDFC Securities recommends Zensar Technologies, NBCC, and Maruti Suzuki shares in the short-term. Also, check out his views on the overall market. After a huge gap up of more than 400 points, Nifty 50 extended its gain and surpassed the important resistance of its previous swing high of 24,589. On last Friday, Nifty 50 formed 'Inverted Hammer' candlestick pattern on the daily chart after registering a running correction of more than 650 points from the swing high of 24,589. Inverted hammer was the first sign of a bullish trend reversal, which is confirmed by today's gain in the Nifty 50. By not breaching the previous swing low of 23,847, Nifty 50 has managed to hold its positional trend as bullish. The inverted head and shoulder pattern observed couple of weeks back on weekly line chart of Nifty 50 also remains intact with its bullish implications. Next resistance for Nifty 50 is seen at 24,857, which happened to be December 2024 swing high. Above 24,857, Nifty 50 could extend its rally towards 25207. Supports for the Index have shifted up at 24,378 and 24,000. Vinay Rajani of HDFC Securities recommends these three stocks in the near term - Zensar Technologies Ltd, NBCC (India) Ltd, and Maruti Suzuki India Ltd. Zensar Tech share price has broken out from the downward sloping trendline on the daily chart. Stock price has broken out from bullish 'flag' pattern on the daily chart. Stock price is trading above 20-, 50- and 200-days EMA. Daily RSI has reached above 50, indicating a sustainable up trend. Daily MACD is now placed above signal and equilibrium line. NBCC share price has broken out from bullish 'Flag' pattern on the daily chart. Stock price has found support near 200 DEMA. Stock price is now placed above 20-, 50- and 200-days EMA. Daily RSI has reached above 50, indicating a sustainable up trend. Daily MACD is now placed above signal and equilibrium line. Maruti Suzuki share price has been forming higher tops and higher bottoms on the daily chart. Primary trend has been bullish as stock is placed above all key moving averages. Weekly RSI has reached above 50, indicating a sustainable up trend. Indicators and oscillators have been showing strength in the current uptrend. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Mint
24-04-2025
- Business
- Mint
Closing Bell: Alkem Lab to RVNL - Vinay Rajani of HDFC Securities suggests these three stocks to buy in the near-term
Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, experienced a lackluster performance on Thursday, following a seven-day rally and as investors analysed the earnings report from fast-moving consumer goods giant Hindustan Unilever. The Nifty 50 fell by 0.34% to 24,247.40, while the Sensex decreased by 0.33% to 79,830.85 as of 14:26 IST. In the prior session, both indices reached their highest closing levels of 2025. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that the strength of the Indian economy, the anticipated slowdown in the US economy, the weakness of the dollar, and consistent foreign institutional investor (FII) buying in India amounting to ₹ 21,263 crores over the past six days are contributing to India's market outperformance. Nevertheless, the high valuations (Nifty 50 is currently trading over 20 times the forecasted FY 26 earnings) may limit the upward momentum. In the very short term, the market may react to the earnings reports being released. However, looking ahead, concerns will likely arise regarding the timing, nature, and extent of India's response to recent terror attacks and the resulting implications. Therefore, investors should exercise caution while continuing to stay invested. Nifty 50 has registered a recovery of more than 2,600 points from the recent swing low of 21,743 made on 7th April 2025. After this steep bounce, Nifty 50 has formed 'Hanging Man' candlestick pattern on 23rd April 2025. This pattern indicates probability of short-term trend reversal, which further needs to be confirmed by breach of candle's low in the next sessions. On 23rd April 2025, Nifty 50 made a low of 24,119, below which bearish pattern will be confirmed and till that happens trading longs can be held with that stoploss. On the downside, there is a strong support near 23,900, where the previous swing high is placed. The positional trend of Nifty 50 is bullish, and corrections should be utilised to create fresh longs. On the upside, 24,545 and 24,800 are key resistances to watch out for Nifty 50. Vinay Rajani of HDFC Securities recommends these three stocks in the near term - CARE Ratings Ltd, Alkem Laboratories Ltd, and Rail Vikas Nigam Ltd (RVNL). Care Rating share price has broken out from the downward sloping trendline on the weekly chart. Stock price has broken out from previous swing highs on the daily chart. Stock price has surpassed 20- and 50-days EMA. Daily RSI has reached above 50, indicating a sustainable up trend. Daily MACD is now placed above signal and equilibrium line. Alkem Lab share price has broken out from inverted head and shoulder pattern on the daily chart. Stock price has broken out from previous swing highs and 200 DEMA resistance. Stock price is now placed above 20-,50- and 200-days EMA. Daily RSI has reached above 50, indicating a sustainable up trend. Daily MACD is now placed above signal and equilibrium line. RVNL share price has broken out from the downward sloping trendline on the weekly chart. Stock price is forming an inverted head and shoulder pattern on the daily chart. Stock price has surpassed 20- and 50-days EMA. Weekly RSI has reached above 50, indicating a sustainable up trend. Stock price has started forming higher top and higher bottom on daily chart. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. First Published: 24 Apr 2025, 02:36 PM IST
