Page 42 - Market Outlook
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.
 "What does Fitch downgrade of US credit rating to AA+ mean for the markets?")
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
 "Broking industry revenues could be healthy in FY24, says Dhiraj Relli")
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.
 "Mid, smallcaps reach for the sky despite analysts sounding caution")
Nifty Metal, Energy: Here's how to plan your trade
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index is signalling potential correction, while the Metal index remains bullish.
 "Nifty Metal, Energy: Here's how to plan your trade")
Nifty Pharma nears major hurdle at 14,536; Realty remains range-bound
According to Ravi Nathani, an independent technical analyst, given the overbought conditions on Nifty Pharma traders are advised to book profits and adopt a cash position for near- and short-term.
 "Nifty Pharma nears major hurdle at 14,536; Realty remains range-bound")
Tata Motors, L&T: Short-term trading strategies post Q1 results
Tata Motors is likely to trade with a positive bias, with an upside target of around Rs 660; while Larsen & Toubro may witness some profit-taking in the near-term.
 "Tata Motors, L&T: Short-term trading strategies post Q1 results")
Buy Bank of India, Bank of Maharashtra: Vinay Rajani of HDFC Securities
On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could swing in the 19,783 - 19,567 range in the near term.
Nifty FMCG looks weak; Metal index likely to face resistance above 6,600
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index has near support at 51,750, below which the index can slide to 50,990.
 "Nifty FMCG looks weak; Metal index likely to face resistance above 6,600")
Most investors expect a market correction: Naveen Kulkarni, Axis Securities
Market's focus has shifted to corporate earnings' growth, backed by comfort in valuations, says Naveen Kulkarni, chief investment officer at Axis Securities.
 "Most investors expect a market correction: Naveen Kulkarni, Axis Securities")
Hotel stocks have more room for an upside; buy selectively: Analysts
The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in FY24.
 "Hotel stocks have more room for an upside; buy selectively: Analysts")
Nifty, Bank Nifty likely to consolidate in the near-term
According to Ravi Nathani, an independent technical analyst, all the Nifty may seek support in the range of 19,550 - 19,300 levels.
 "Nifty, Bank Nifty likely to consolidate in the near-term")
Trading strategies for Nifty Energy, MNCs, Commodities indices
According to Ravi Nathani, an independent technical analyst, all the three indices are presently displaying a bullish trend on charts.
Nifty Pharma, Realty near key resistance levels; Time to be cautious
According to Ravi Nathani, an independent technical analyst, the Nifty Pharma index needs to clear hurdle at 14,150; whereas, the Realty index may show signs of correction by the month-end.
 "Nifty Pharma, Realty near key resistance levels; Time to be cautious")
History shows momentum rallies lift Nifty 25% in 134 days; will it repeat?
Based on the average gain and duration of the past momentum-driven rallies, the NSE Nifty 50 can potentially rally past the 23,000-mark by January 2024.
 "History shows momentum rallies lift Nifty 25% in 134 days; will it repeat?")
Buy GMDC, Rites for gains up to 16%, recommends HDFC Securities
On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could trade in the range of 19,612 - 19,819 in the near term.
 "Buy GMDC, Rites for gains up to 16%, recommends HDFC Securities")
Nifty Metal looks weak; sell with stop loss at 6,564, suggests chart
Meanwhile, the Nifty FMCG index is expected to consolidate in the range of 53,971 and 52,484, says Ravi Nathani, an independent technical analyst.
Fin Nifty needs to clear hurdle at 20,500; Pvt Banks index looks bullish
According to Ravi Nathani, an independent technical analyst, the outlook for Nifty Metal, Energy and Pharma indices is bullish and hence recommends to buy at CMP or on dips.
 "Fin Nifty needs to clear hurdle at 20,500; Pvt Banks index looks bullish")
Nifty bulls need to keep an eye on these two key levels, show charts
Meanwhile, if the Bank Nifty closes above 45,150 it would indicate fresh strength, says Ravi Nathani, an independent technical analyst.
Nifty Energy, Commodity indices show bearish trends on charts
In such a scenario, traders can benefit by adopting a selling strategy, particularly when the index rallies
 "Nifty Energy, Commodity indices show bearish trends on charts")
ACC, Ambuja, Dalmia Cement: Analysts remain selective on cement stocks
UBS and Nomura expect volume growth of 10 per cent and 8 per cent, respectively, in FY24 aided by an uptick in the real estate cycle.
 "ACC, Ambuja, Dalmia Cement: Analysts remain selective on cement stocks")