STOCKS TO TRADE ON 25 JULY 2023
STOCKS PREDICTION GONE PERFECT 🥳🥳
MPHASIS DOWN 4.20%
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It was a volatile day in Dalal Street as the Nifty slipped below 19,700. FMCG and metals stocks suffered while PSU banks, pharmaceuticals and autos were among the top sector winners. Nifty winners include Dr. Reddys, SBI Life, IndusInd Bank, M&M and Coal India. Nifty losers include ITC, Kotak Bank, Tech Mahindra, RIL, Britannia and HUL. Broader markets were mixed with small caps outperforming. RIL declined on subdued O2C business performance, while ICICI Bank rose after a strong first quarter. Today, as expectations are being scaled back in line with ongoing first quarter results, we saw earnings bookings following earnings and news flow from heavyweights and financials. Investors should expect share prices to fall if eventual earnings results do not meet expectations. However, the PSE index attracted lively interest from participants as several of its index values rose on likely MSCI inclusion and new clean energy orders, After today's flat open, the Nifty was volatile throughout the day and ended the day on a negative close. For investors the market consists of downside buys with a strict stop loss of 19500 and if the Nifty closes below the stated level we can expect more profit booking. The market traded negatively with the Sensex down 0.45% to close at 66384. and the Nifty down 0.37% on the day to close at 19672 while the Bank Nifty fell 0.33% to settle at 45923. The Nifty opened on a flat note and traded with a negative bias to close in the red down ~73 points. On the daily charts, we can observe that the Nifty is resuming the rise from 19303 to 19992. It is currently trading around the 50% Fibonacci retracement level and should attract buying interest. The daily momentum indicator has triggered a negative crossover, which is a sell signal. Both price and momentum indicators point to weakness. However, we still think this is a drop to take as the overall uptrend is still intact. In terms of levels, 19600-19580 is likely to act as a crucial support zone, and on the upside, 19800-19840 is likely to act as an immediate hurdle zone. Bank Nifty closed in the red today. From about 46,200 points there was selling pressure, which tended downwards. We believe that Bank Nifty is about to resume the rise it has been watching from 44547 to 46370. On the upside, it may slide towards 45750 – 45670 where support comes in the form of the 38.2% Fibonacci retracement level and the 40 hourly moving average. Overall, the trend remains positive and once this consolidation is complete, we can expect Bank Nifty to continue on its uptrend. On the upside, 46500 is the expected target.
STOCKS QUARTERLY RESULT ON 25-07-2023
Amber Enterprises India Ltd
Asian Paints Ltd
Bajaj Auto Ltd
CEAT Ltd
Cyient Ltd
Delta Corp Ltd
Dixon Technologies (India) Ltd
Hitachi Energy India Ltd
Jubilant Foodworks Ltd
Jyothy Labs Ltd
KPIT Technologies Ltd
Larsen & Toubro Ltd
Mahindra Holidays & Resorts India Ltd
SBI Life Insurance Company Ltd
Sundaram Clayton Ltd
Suzlon Energy Ltd
Tata Motors Ltd
Tata Motors-DVR
UTI Asset Management Company Ltd
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