Page 42 - Market Outlook

Nifty Media index needs to cross this hurdle to see next leg of rally

The recent rally in the Media index has propelled it closer to the resistance level of 2,300. This resistance level is anticipated to act as a formidable barrier for bullish momentum

Paytm, Zomato: Analysts cautious on new-age stocks on expensive valuations

Zomato, for instance, has been the only new-age company which has achieved profitability in the April-June quarter (Q1) of the current financial year (FY24)

Nifty PSU Bank index forms 'lower top, lower bottom' formation on charts

Traders can capitalise by selling the index and its constituents on any intermittent rise

Sensex gyrates 696 pts, ends 79 pts up; Adani Ent down 3.5%, RIL gains 1.5%

Closing Bell on August 14, 2023: In the broader markets, the BSE MidCap and SmallCap indices underperformed the benchmarks as they fell 0.5 per cent each

F&O Strategy: Bear spread on Bank Nifty, suggests HDFC Securities

RSI has fallen below benchmark level of 50 for Bank Nifty, indicating a bearish trend, says Nandish Shah of HDFC Securities

Nifty Energy paves way for positive breakout; adopt buy-on-dips strategy

According to Ravi Nathani, an independent technical analyst, charts reveal an encouraging trend for Nifty Energy index, signaling a positive breakout

RBI policy: Can higher inflation become the new normal for the markets?

The upward revision in RBI's inflation projection, analysts suggest, implies that the central bank is likely to keep the rates elevated for a longer period of time than what the Street expected.

Nifty Pharma nears overbought zone after it scales record high, show charts

According to Ravi Nathani, an independent technical analyst, said that Nifty Pharma's recent surge to all-time high signals strong positive sentiment, but proximity to overbought levels needs caution

Goldilocks position for Indian equities is getting questioned: Jefferies

Rising crude oil prices, traction in China equities and high inflation concerns are casting a shadow on the road ahead for the Indian equities, believe analysts at Jefferies.

Nifty50: Uptrend likely once it breaches 19,700; support seen at 19,300

A level below 19,300 would be considered bearish sign in Nifty for the short term, says Vinay Rajani, senior technical and derivative research analyst at HDFC Securities

Nifty FMCG may see pullback; Auto index eyes breakout post range-bound move

According to Ravi Nathani, an independent technical analyst, Nifty FMCG index may witness a rebound after finding support at 51,636 and 50,650 levels

BofA Securities ups Nifty target to 20,500; sees markets get rerated

The foreign brokerage firm prefers large-caps over their mid-and small-cap peers as the valuations in case of the latter are rich and earnings growth estimates seem stretched.

Sensex ends 107 pts down post choppy day; PSBs shine, M&M, JSW Steel dip

CLOSING BELL ON AUGUST 08, 2023: The NSE Nifty 50 ended 26 points lower at 19,571. Tech Mahindra, Wipro and Bajaj twins bucked the trend and finished with notable gains on Tuesday.

Nifty Financial Services exhibits bullish trend; buy near support levels

According to Ravi Nathani, an independent technical analyst, support levels are projected at approximately 19,525 and 19,425 for Nifty Financial Services index

Sensex ends 232 pts up, Nifty50 near 19,600; Pharma, IT stocks upbeat

Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent

Sell Nifty50 if it breaches below 19,300; Bias for Bank Nifty bearish

According to Ravi Nathani, an independent technical analyst, a downward correction is likely for Nifty50 if it breaches below 19,300-mark

New era of Indian equity outperformance is dawning: Morgan Stanley

In India, Morgan Stanley believes, the situation is in stark contrast to that in China. India, it said, is arguably at the start of a long wave boom

What does Fitch downgrade of US credit rating to AA+ mean for the markets?

The development caused a flutter across equity markets, with most leading frontline global equity indices trading weak on Wednesday.

Broking industry revenues could be healthy in FY24, says Dhiraj Relli

As trading volumes are likely to be firm, broking industry revenues could be healthy in fiscal 2023-24 (FY24), even as the yields may not have much further to fall

Mid, smallcaps reach for the sky despite analysts sounding caution

In July, the S&P BSE Smallcap index surged 7.4 per cent as compared to 5.7 per cent rally in the Midcap index, and a modest 2.8 per cent gain in the Sensex.