Brokerage HDFC Securities in a results update said moderation in in-home consumption categories will impact key brands but revival in OOH will support growth
The stock price has witnessed running correction of 10 per cent from the recent high
Nifty, Bank Nifty and Financial Nifty indices have been forming candle with the small body for the last three consecutive sessions, which indicates that bullish momentum is getting lost
The stock price has broken out on the daily chart with higher volumes
While there is a possibility of consolidation in the Nifty50 index after a sharp rally, stock specific moves could continue on the upside
The stock price of Tata Power has witnessed running correction of 10 per cent from the recent high and has reached to a support level which, HDFC Securities believes, is a good buying opportunity
The Nifty50 has recovered more than 62 per cent of the entire fall which was registered from 14,653 to 14,222
The stock price of Cadila Healthcare has broken out from the consolidation which held for last three weeks
Immediate resistance for the Nifty is seen at 14,890
The stock price has already broken out on the daily chart on 6th January. Moreover, insurance as a sector is showing strength on the chart
Analysts see up to 23 per cent upside in the stock over its last close of Rs 102.30
Upside target for Nifty is seen at 14,300 odd levels, which happens to be the 138.2 per cent Fibonacci retracement of the downswing seen from 12,430 to 7,511
The recent recovery seems more like a dead cat bounce which could last for some more time but it would be advisable to remain cautious at higher levels. Nifty has got strong resistance at 13,600
With corporate asset quality cycle behind and Covid-19 impact fairly contained, analysts at Nomura think front-line banks will see faster-than-expected return on equity (ROE) recovery in 2021
As far as support is concerned, 13,145 is a crucial level to watch out for
Primary trend of the Bharat Forge stock is positive where its price is trading above all important moving averages
Stock price has broken out on the daily chart with higher volumes where it closed at nine-month high
Nifty50 index also remains above the 20-day SMA and has now closed at a new life time high after clearing the recent highs of 12,963
The stock price has broken down on the daily chart with higher volumes where it closed at the lowest level since 03 November
Trading longs should be held on with the stop loss of 12,700 levels. We expect midcaps to outperform in the coming days.