Page 14 - Stock Market Trading
TCS, Persistent: Breakout in IT index may trigger up to 9% rally in stocks
Shares of Tata Consultancy Services, Infosys, HCL Technologies, Coforge and Persistent Systems are indicating chart structures that reflect resumption of their short-to-medium term upmove.
 "TCS, Persistent: Breakout in IT index may trigger up to 9% rally in stocks")
7 Adani group stocks hit lower circuit; Adani Ent tanks 55% in 3 days
In past seven trading days, the total market capitalisation (market-cap) of 10 Adani group companies has eroded by nearly Rs 10 trillion or 52 per cent to Rs 9.27 trillion in Friday's intra-day trades
 "7 Adani group stocks hit lower circuit; Adani Ent tanks 55% in 3 days")
Look to accumulate pharma, media shares near support levels: Ravi Nathani
According to the technical analyst, the Nifty Pharma index is likely to get support around 11,981 level.
 "Look to accumulate pharma, media shares near support levels: Ravi Nathani")
Stocks to Watch: Adani Group, SBI, Paytm, BoB, HDFC AMC, Auto, SBI Life
Stocks to watch today: The National Stock Exchange (NSE) on Thursday shifted Adani Enterprises, Adani Ports, and Ambuja Cements to a category of stocks that require up to 100 per cent trading margins
 "Stocks to Watch: Adani Group, SBI, Paytm, BoB, HDFC AMC, Auto, SBI Life")
Mehul Kothari recommends to buy Astral above this level
According to the technical analyst from Anand Rathi, Astral may witness a strong upside momentum on breakout above Rs 2,085.
 "Mehul Kothari recommends to buy Astral above this level")
Sensex ends 224 pts higher in uneven trade, Nifty flat; Adani Ent skids 27%
CLOSING BELL: Broader markets, however, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices surged up to 0.5 per cent
 "Sensex ends 224 pts higher in uneven trade, Nifty flat; Adani Ent skids 27%")
Sterling Tools hits 4-year high on strong Q3 results; surges 40% in 1 month
The revenue growth was primarily driven by increase in content per vehicle, overall robust industry demand & parts SOB increase in select OEM's.
 "Sterling Tools hits 4-year high on strong Q3 results; surges 40% in 1 month")
LIC, HDFC Life, SBI Life: Budget 2023 proposals dismantle bullish trends
Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move
 "LIC, HDFC Life, SBI Life: Budget 2023 proposals dismantle bullish trends")
Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?
Budget 2023: Analysts said the Budget push in the capital expenditure (capex) outlays across sectors and the income tax relief have been the top boosters to support the domestic economy
 "Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?")
Ravi Nathani recommends to wait for correction to complete in these sectors
According to the technical analyst, the Nifty Realty, Pharma and Media index and its constituents can be accumulated once the corrective move is over.
Stocks to Watch: Adani Ent, Adani Green, HDFC, Maruti Suzuki, Insurance
Stocks to watch today: The Board of Adani Enterprises (AEL) has announced that it will not go-ahead with the fully subscribed Follow-on Public Offer (FPO)
 "Stocks to Watch: Adani Ent, Adani Green, HDFC, Maruti Suzuki, Insurance")
Adani Enterprises decides not to go-ahead with FPO, money to be returned
Given the extraordinary circumstances, AEL's board felt that going ahead with the issue will not be morally correct
 "Adani Enterprises decides not to go-ahead with FPO, money to be returned")
Budget 2023 a balancing act with focus on prosperity and inclusiveness
Budget 2023: Raising of tax slabs along with reduction in peak surcharge shall result in around Rs 35,000 crore being saved by tax payers and hopefully being spent to boost consumption
 "Budget 2023 a balancing act with focus on prosperity and inclusiveness")
ITC hits life-time high, bounces back 11% from day's low on heavy volumes
Shares of ITC were up nearly 4 per cent at Rs 365.65, surpassing its previous high of Rs 362, touched on November 11, 2022, on the BSE in intra-day trade on Wednesday.
 "ITC hits life-time high, bounces back 11% from day's low on heavy volumes")
Indian Hotels soars 7% on heavy volumes backed by strong Q3 show
The demand outlook for the sector in 2023 remains robust on the back of sporting events such as world cup hockey and cricket and global events like the ongoing G20.
 "Indian Hotels soars 7% on heavy volumes backed by strong Q3 show")
Adani group shares extend fall; Adani Total Gas tanks 51% in five days
Shares of Adani Total Gas were locked in the lower circuit for the fourth straight day, down 10 per cent at Rs 1,901.65 on Wednesday.
Apar Industries zooms 42% in two days, hits record high on robust earnings
The management said the company witnessed volume growth across all the three divisions and the net profit tripled on a YoY basis.
 "Apar Industries zooms 42% in two days, hits record high on robust earnings")
Trading strategy in Nifty on the Budget Day by Vinay Rajani
Among individual stocks, the technical & derivative analyst from HDFC Securities recommends Buy on RCF and Triveni Engineering.
 "Trading strategy in Nifty on the Budget Day by Vinay Rajani")
Sensex rises 445 pts from day's low to end flat; Adani FPO fully subscribed
CLOSING BELL: Broader markets, too, remained upbeat throughout the day as Nifty MidCap 100 and Nifty SmallCap 100 outperformed benchmark indices to close up to 2 per cent
Tech Mahindra dips 4% as management flags growth moderation, budget cuts
Tech Mahindra is witnessing moderation in growth, slower decision-making for projects, cuts in discretionary spending and shrinking budgets for short-term tactical deals, its management said
 "Tech Mahindra dips 4% as management flags growth moderation, budget cuts")