Page 37 - Market Outlook
Zee, Paytm top Nifty 500 losers so far in 2024; will the fall continue?
As many as 10 stocks within the Nifty 500 space have declined over 20 per cent so far in 2024. These are the key levels to watch out, suggest charts.
 "Zee, Paytm top Nifty 500 losers so far in 2024; will the fall continue?")
JK Lakshmi, Motherson Sumi can rally up to 19%, recommends HDFC Securities
On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty is seen consolidating in the 22,075 - 22,297 trading band.
 "JK Lakshmi, Motherson Sumi can rally up to 19%, recommends HDFC Securities")
Nifty Private Bank, IT: Here's how to trade these two range-bound indices
The Nifty Private Bank Index in seen trading in a range of 23,165 - 23,690, and the IT index in the 37,200 - 38,56 range, says Ravi Nathani, an independent technical analyst.
 "Nifty Private Bank, IT: Here's how to trade these two range-bound indices")
Market has already factored in BJP's victory, says Achin Goel of Bonanza
While the fundamentals of PSUs remain optimistic, current valuations offer limited upside potential for new entrants, says Achin Goel, vice-president, Bonanza Portfolio
 "Market has already factored in BJP's victory, says Achin Goel of Bonanza")
Nifty PSU Bank, Financial Services Indices may exert downward pressure
According to Ravi Nathani, an independent technical analyst, Nifty Financial Servies Index can be short with a stop at 20,800, while selling pivot for the PSU Bank index stands at 7,136.
 "Nifty PSU Bank, Financial Services Indices may exert downward pressure")
Nifty, Bank Nifty in indecisive mode; Watch out for these key levels
Nifty likely to see a directional move on breakout from the 22,100 - 22,325 trading range, says Ravi Nathani, an independent technical analyst.
 "Nifty, Bank Nifty in indecisive mode; Watch out for these key levels")
F&O strategy: Bull spread recommended on BEL for February expiry
Nandish Shah of HDFC Securities recommends to Buy BEL 195 CALL and simultaneously Sell 200 CALL of the February expiry.
 "F&O strategy: Bull spread recommended on BEL for February expiry")
Buy Nifty FMCG on dips; Metal to gain strength above 8,100, suggest charts
According to Ravi Nathani, an independent technical analyst, technical indicators such as RSI and MACD are signaling potential for a technical pullback in the near term on the Nifty FMCG index.
 "Buy Nifty FMCG on dips; Metal to gain strength above 8,100, suggest charts")
Limited opportunities with PSUs; bet on dividend yield, momentum: Bernstein
Within in PSU space Bernstein prefers ONGC, Coal India, IOC, Bank of Baroda, GAIL, BPCL, Canara Bank, HPCL, Oil India and MRPL.
 "Limited opportunities with PSUs; bet on dividend yield, momentum: Bernstein")
Nifty Energy: Look for opportunities to sell on rise; Pharma seems sideways
On the upside, the Nifty Energy index is likely to face resistance around 39,650, says Ravi Nathani, an independent technical analyst.
 "Nifty Energy: Look for opportunities to sell on rise; Pharma seems sideways")
HDFC Bank, ITC: 5 Nifty stocks trading far away from their 52-week highs
Among these five, HDFC Bank, ITC and UPL can potentially rally up to 10 per cent; Whereas, Hindustan Unilever and Asian Paints can crack another 25 per cent, suggest charts.
 "HDFC Bank, ITC: 5 Nifty stocks trading far away from their 52-week highs")
Nifty IT: 37,780 is the make or break level; Bias for Auto turns negative
According to Ravi Nathani, an independent technical analyst, breach of 37,780 on the Nifty IT could trigger a fall to 37,400 and 37,125.
 "Nifty IT: 37,780 is the make or break level; Bias for Auto turns negative")
Bias for Nifty PSU Bank turns negative, can dip up to 5%
On the upside, the PSU Bank index is likely to face resistance around 7,280 to 7,350, says Ravi Nathani, an independent technical analyst.
 "Bias for Nifty PSU Bank turns negative, can dip up to 5%")
Markets are overvalued; IT, metals among most expensive sectors: Analysts
As of Jan 2024, the price-to-book valuation for the Nifty50 index, according to HDFC Securities Institutional Research, was 114 per cent of the average historical valuation, indicating expensiveness.
 "Markets are overvalued; IT, metals among most expensive sectors: Analysts")
19% of global fund managers bullish on India; Japan most preferred: BofA
Among markets, investors preferred India and Taiwan apart from Japan, while avoiding Thailand and China, the survey suggested.
 "19% of global fund managers bullish on India; Japan most preferred: BofA")
Jefferies stays bullish on PSU stocks: SBI, Coal India, NTPC lead the way
The recent outperformance (before the sharp fall in past sessions), Jefferies said, was helped by earnings per share (EPS) upgrades and return on equity (RoE) improvement.
 "Jefferies stays bullish on PSU stocks: SBI, Coal India, NTPC lead the way")
Here's how to plan your trades in Nifty IT, Auto indices
According to Ravi Nathani, an independent technical analyst, the Nifty IT index seems range-bound on charts, while auto in a declining trend.
Nifty Smallcap 250 index tests 50-DMA. Is there more room for downside?
The index had slipped below the 50-DMA back in November 2023, too, but recovered.
 "Nifty Smallcap 250 index tests 50-DMA. Is there more room for downside?")
Trading strategies for Nifty PSU, Private Banks & Financial indices
According to Ravi Nathani, an independent technical analyst, the Nifty Financial Index seems to be in a discernible downtrend.
The next few months are likely to see increased volatility: Shiv Sehgal
Valuations of midcaps and smallcaps have reached very high levels, and hence to that extent leave little margin of safety, Sehgal said
 "The next few months are likely to see increased volatility: Shiv Sehgal")