NAGARAJ SHETTI
Tech View: Nifty breaks 4-day winning streak. Here’s how to trade next week
Nifty ended Friday’s session with a loss of 34 points and broke the four-day winning streak by forming a small-bodied red candle.
2 top stock recommendations from Nagaraj Shetti
I am expecting a further upside for the Nifty during this budget period and as well as if you look at the sectors, banking, especially private and PSU banking, and if you look at the metal stocks and metal sector has declined reasonably and has bounced back from the lower levels, fertilisers and even other sectors like PSU banking, like capital goods are likely to be in the limelight in the near term.
Sell-on-rise likely in Nifty, broader market indices: Nagaraj Shetti
Nagaraj Shetti predicts continued weakness in OMCs with eroded upside momentum. Shetty further says that another 5-7% downside in the three OMC stocks is likely. Market lacks buying support, with Nifty facing downside pressure. Small Cap 100 support at 13,200 levels. Sell-on-rise opportunity in NMDC with a downside target at Rs 175.
Piramal Enterprises & Avanti Feeds Nagaraj Shetti’s 2 trading picks. Here’s why
Nagaraj Shetti, Technical & Derivative Analyst at HDFC Securities, expects Nifty to move up further with target levels of 22,500 to 22,600. Bank Nifty's next strong resistance is 48,000. Shetti's stock picks are Piramal Enterprises Limited (PEL) and Avanti Feeds. PEL is attempting an upside breakout. Avanti Feeds has witnessed a decisive upside bounce.
AB Capital & Castrol India are Nagaraj Shetti’s top picks of the day. Here’s why
Nagaraj Shetti recommends AB Capital and Castrol India as top picks. AB Capital has a positive chart pattern and a target of Rs 196-197. Castrol India is in an uptrend with a target of Rs 220-222. Both stocks have stop losses in place.
22,200-22,500 next upside target for Nifty in next one month: Nagaraj Shetti
Nagaraj Shetti says: “Though the market declined by 130 odd points today, I am not expecting a bigger decline from here. The overall near-term trend status of the market remains intact. If Nifty moves below the immediate support of 21,500 levels, there is a possibility of Nifty getting the support of the next lower level around 21,200 to 21,000 levels.”
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Buy Ipca Laboratories, target price Rs 970: Nagaraj Shetti
Ipca Laboratories, incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 23532.33 Crore) operating in Pharmaceuticals sector.
Buy Hikal, target price Rs 324: Nagaraj Shetti
Hikal, incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 3811.23 Crore) operating in Pharmaceuticals sector.
2 top stock recommendations from Nagaraj Shetti
And we are likely to see the next upside target for the Nifty of around 19300 to 19400 levels before showing any decent consolidation or a downward correction from the higher levels.
Buy ICICI Securities, target price Rs 525: Nagaraj Shetti
ICICI Securities, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 16090.11 Crore) operating in Financial Services sector.
Buy Transport Corporation of India, target price Rs 710 : Nagaraj Shetti
Transport Corporation of India, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 5209.55 Crore) operating in Logistics sector.
2 top stock recommendations from Nagaraj Shetti
Yes, since midcap has been outperforming, I am expecting midcap to continue its outperformance and move up. In that midcap segment, I have two stock picks.
2 top stock recommendations from Nagaraj Shetti for next week
"My first stock pick is RHI Magnesita India. If you look at the chart on the weekly front, after the recent downward correction during the last month, this stock has made a bottom reversal around Rs 600 levels this week and moved up significantly," says Nagaraj Shetti, HDFC Securities
2 top stock recommendations from Nagaraj Shetti
I think this range is going to continue and technically the Nifty is moving in a narrow range of 18,200 to 17,800 levels. We have seen buying emerging from the lower levels and at the same time we have seen selling pressure from the higher levels of 18,150 to 18,200 levels. I am of the view that this is a lackluster, choppy kind of a moment for the market, neither the bulls nor the bears are gaining strength at this point of time.
ETMarkets Smart Talk: Any dips in Nifty or Nifty Bank should be used to as buying opportunity: Nagaraj Shetti, HDFC Securities
Though, Nifty declined on Friday, the near-term uptrend status of the market remains positive. After showing minor downward correction in the short term, the Nifty is expected to show upside bounce from the higher bottom. Important lower supports to be watched are 18550-18450.
Buy Poly Medicure, target price Rs 1035: Nagaraj Shetti
Poly Medicure, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 9380.79 Crore) operating in Hospitals & Allied Services sector.
Buy HEG, target price Rs 1125: Nagaraj Shetti
HEG, incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 4089.19 Crore) operating in Industrial Consumables sector.
Indices plunge 1.5%, recover in last hour
The sell-off on Monday morning was sparked by a slump on Wall Street on Friday after data on the strong US labour market in September raised concerns that the US Federal Reserve might continue with its aggressive tightening to rein in inflation. This week, investors will watch out for the release of minutes of the Fed's September policy meeting on Wednesday and the September US consumer inflation report on Thursday.
Tech View: Nifty forms Bearish Belt Hold; recent rally losing steam
Mohammad said some meaningful supports are placed in the 11,334- 11,278 range on a closing basis. The analyst said the index needs to breach the 11,620 level for any sustainable rise.
Tech View: Nifty50 forms a bullish candle, but the momentum is weak
The momentum indicators continues to favour the bulls. The Relative Strength Index (RSI) has marked a fresh 14-period high, which is a bullish signal.
Tech View: As Nifty breaches 8,555 level, analysts say more pain in offing
Analysts do not rule out the index falling below the 8,000 level in the short term.
Metal, realty, IT, pharma likely to outperform
A small positive candle was formed in the last week, with long lower shadow.
Buy Jubilant Foodworks, target Rs 1,580: Nagaraj Shetti
Buy Jubilant Foodworks at a price target of Rs 1,580 and a stop loss at Rs 1,345.
Buy LIC Housing Finance, target Rs 585: Nagaraj Shetti
Buy LIC Housing Finance at a price target of Rs 585 and a stop loss at Rs 490.
Tech view: Nifty forms small bearish candle, looks indecisive at higher levels
Nifty formed a small bearish candle, showing signs the strong run may be losing steam.
Tech view: Hammer candle on Nifty charts signals buying at lower level
Follow-up action was missing on either side as the index consolidated in 10,450-10,650.
Buy KPIT Technologies, target Rs 245: Nagaraj Shetti, HDFC Securities
Buy KPIT Technologies at a price target of Rs 245 and a stop loss at Rs 199.
Buy L&T Finance Holdings, target Rs 200: Nagaraj Shetti
Buy L&T Finance Holdings at a price target of Rs 200 and a stop loss at Rs 170 from the entry point.
Buy Aurobindo Pharma, target Rs 720: Nagaraj Shetti
Buy Aurobindo Pharma Ltd. at a price target of Rs 720.0 and a stop loss at Rs 615 from the entry point.
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