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Rex Harrison Cano, part of Business Standard's online markets team, has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and an expert technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
Rex Harrison Cano, part of Business Standard's online markets team, has over 25 years of experience, primarily in business journalism, tracking and analysing the Indian stock market. An avid market enthusiast and an expert technical analyst, Rex believes that charts and numbers come to life to tell stories of past and possible future journeys.
Technical analysts caution that the short-term trend for Nifty remains weak, and the index could extend the fall toward 22,800-22,700 levels in the coming sessions.
Hitesh Rathi, technical analyst at Angel One says that IT stocks continue to trade with a negative bias on the charts, and are prone to further fall if they dip below the crucial support zones.
Analysts at Axis Securities project up to 16% upside in Federal Bank, Zen Technologies and Chennai Petroleum owing to breakout witnessed on the weekly charts.
In last two financial years, retail investors increased holding in 118 Nifty 500 stocks where FIIs cut stake; of these 65 stocks trade below March 2024 levels amid tepid market mood, shows data.
Jatin Gedia of Teji Mandi reckons that Indian Bank, Phoenix Mills and PFC have found support at their respective 200-DMAs and look ripe for further upside, according to technical charts.
Power Finance Corporation's share price is at the cusp of generating a breakout above the falling trendline joining the last 2 months' highs, says Bajaj Broking.
LIC holds 10.8% stake in Rajesh Exports; Market expert Ajit Mishra of Religare Broking expects LIC to consolidate in the near-term, with charts indicating support at ₹385 levels.
Nishchal Jain, Quant Researcher at Share.Market by PhonePe sees Vodafone Idea stock crossing the ₹20-mark as a viable option; but cautions against short-term volatility owing to overbought conditions.
Virat Jagad, technical analyst at Bonanza believes that DLF, Sobha and Lodha are precariously placed on the charts, wherein a breach of key supports could make them vulnerable to further downside.
FIIs have now net sold 83,828 contracts of Nifty futures in the last five trading sessions, the highest in back-to-back days in over 11 months.
Pabitro Mukherjee of Bajaj Broking believes the technical setup is favourable for up to 15% upside in smallcaps Allied Blenders and Distillers, NBCC (India) and Sagility.
Amid the ₹14,261.41 crore sell-off, Sudeep Shah of SBI Securities believes that FIIs build-up short positions in index futures over the last three sessions, indicating increasing bearish bets.
Analysts at Axis Securities have identified Adani Total Gas, Exide Industries and AIA Engineering as 3 stocks with a decisive breakout on the weekly charts.
Amol Athawale of Kotak Securities believes Chambal Fertilisers and M&M are favourably placed, while Coromandel looks weak on charts. The analyst flags key levels for these 3 monsoon-related stocks.
Mayank Jain, market analyst at Share.Market by PhonePe believes that the long-term trend for Ola Electric can change from 'Bearish to Bullish' if the stock manages to sustain above ₹40 consistently.
Hitesh Tailor, technical research analyst at Choice Broking highlights that HPCL, BPCL and Gail India have bounced back after taking support around their respective 200-week EMAs.
Midcaps to buy: Muthuselvaraj, Research Analyst at Mirae Asset Sharekhan expects Adani Total Gas to hit ₹1,350 levels; JSW Energy and Astral to rally over 50% as Nifty MidCap hits new life-time high.
Pabitro Mukherjee of Bajaj Broking believes that Ashok Leyland, Bharat Electronics and Garden Reach Shipbuilders recently saw sideways consolidation and now offer a favourable risk-reward profile.
Axis Securities in its weekly technical outlook and stock picks forecasts up to 17% upside in Varun Beverages, Manappuram Finance and Endurance Technologies.
Virat Jagad, technical research analyst at Bonanza believes that 360 One Wam and Angel One have given a breakout on charts, and may rally to ₹1,220 and ₹390 on the upside, respectively.