Muted market hurts analyst sentiment barometer, but Adani Ports, 2 others remain top buys
From the record highs, benchmark indices have corrected about 10% and this helped remove some froth over valuation. Valuations are closer to the fair value with Nifty50 trading at around 18 times its one-year forward earnings estimates.
Ahead of Market: 10 things that will decide stock action on Monday
"Bears continue to have the upper hand as the benchmark index Nifty has been posting red candles for the last three days. The Nifty found support around the previous swing low on the daily timeframe. The momentum indicator RSI (14) is in bearish crossover, suggesting weak price momentum for the near term. Going forward, 17,770 is likely to act as support for the falling Nifty," says Rupak De, Senior Technical Analyst at LKP Securities
Over 400 mid, smallcap stocks clock weekly gains when bears knocked down Sensex
PFC stock has seen a strong build-up of long positions in the derivative segment. Since the expiry of the December derivative series, the stock has gained 14% and hit an over-five-year high of Rs 160.80 on Friday. If the stock manages to cross Rs 170 and trades above that level, it will become eligible to enter into the MSCI index.
#ABBOTINDIA - A breakout on the upside of a rising channel pattern followed by a very typical price action pattern. The price is fluctuating and about to retest the upper trendline of the channel formation. A good stock to follow for price action study.
Chart Check: This pharma stock hits fresh 52-week high in December; likely to scale Rs 24,000
For more than a decade, the stock has been taking support at a rising moving average followed by a breach of the intermediate falling trendline. In recent context, the stock is rising with the same characteristic,” he said.
Technically, having closed at an 8-week low, Nifty formed a bearish candlestick pattern on weekly time frame with crucial support at 17,650-17,680. A breakdown below this zone could attract further selling pressure towards the 200-DMA at 17,200-17,250, while resistance on the upside is seen at 18,050-18,100.
Ahead of Market: 10 things that will decide stock action on Monday
This triggered fresh expectations of further rate hikes by the US fed. Asian markets closed with hefty losses as Japans core consumer inflation hit a fresh 40 year high of 3.7% in the month of November,” Mohit Nigam, Fund Manager & Head - PMS, Hem Securities, said.
Ahead of Market: 10 things that will decide D-Street action on Friday
A long negative candle was formed on the daily chart, which indicates a downtrend continuation pattern amidst range movement. We observe overlapping candles over the last few sessions which reflects markets inability to sustain the gains.
Hold Abbott India, target price Rs 21725: ICICI Direct
Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 41423.28 Crore) operating in Pharmaceuticals sector.
Buy Abbott India, target price Rs 23100: Centrum Broking
Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 41757.96 Crore) operating in Pharmaceuticals sector.
Corporate Radar: Power Grid to go ex-dividend; Arfin India stock split & more
Shares of Arfin India will trade ex-split in the ratio of 1:10. The companys shares will be sub-divided from a face value of Rs 10 to Re 1. Also, shares of Compuage Solutions will go ex-rights for the rights issue of eight shares for every 25 shares held offered at the rate of Rs 20 per share.
Hold Abbott India, target price Rs 21140: ICICI Direct
Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 40626.54 Crore) operating in Pharmaceuticals sector.
No reason for pessimism in Indian IT services; plan to invest more in pharma: Saurabh Mukherjea
“The whole world is trying to replace China in both its formulation – API, and its intermediate supply chain. We already have significant investments in firms like GMM, Alkyl, Divis. We are considering making some more investments in the space but as we invest in companies with barriers to entry with moats and that require careful work at the down level.”
Saurabh Mukherjea on why he exited La Opala, Abbott India & entered ICICI Lombard
“We built up a position in ICICI Lombard. We had a smaller position last year. It has been ramped up significantly over the last six months. A lot of stuff is happening in IRDA which is very encouraging for high quality multiline insurance companies like ICICI Lombard. We hope to make more money from it in the years ahead.”
Buy Abbott India, target price Rs 20800: Axis Securities
Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 39627.82 Crore) operating in Pharmaceuticals sector.
BEML, IGL, Zomato rally up to 24% this week; Natco, Yes Bank among top laggards on BSE500
Among sectoral indices, BSE Metal index zoomed 5 per cent, followed by a 4 per cent rally in Capital Goods and Power indices each. Energy, utilities, finance and industrial stocks added 3 per cent each during the week. In the BSE 500 index, about 290 stocks settled in the green, whereas others dropped during the four trading sessions; 15 stocks were able to register double-digit gains, whereas only two plunged 10 per cent or more.
SGX Nifty up 60 points; here's what changed for market while you were sleeping
Asian stocks rose Thursday morning as traders tracked a rally on Wall Street fuelled by a drop in oil prices and better-than-expected US economic data. MSCI's index of Asia-Pacific shares outside Japan was up by 0.76 per cent.
Buy Abbott India, target price Rs 20560: ICICI Direct
Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 41234.27 Crore) operating in Pharmaceuticals sector.
3 stocks that Team Prashant Jain entered in June; 5 shares it exited
Jain is Executive Director and Chief Investment Officer at HDFC AMC.Data showed the mutual fund house bought a 0.02 per cent stake or 1,97,807 shares in Shriram City Union Finance worth Rs 32.85 crore. It added Sanofi, buying 8,365 shares worth Rs 5.38 crore. It also entered Metropolis Healthcare with 3,600 shares worth Rs 50 lakhs.
Ahead of Market: 10 things that will decide stock action on Thursday
"The present range-bound movement could continue for the next 1-2 sessions and immediate supports to be watched around 15,600-15,650 levels. On the flip side, a decisive move above 15,850-15,900 levels is likely to open a sustainable upside for the market," he said.
Ahead of Market: 12 things that will decide stock action on Monday
The benchmark appears to be moving towards the support zone between 15,900 and 16,100. Despite the fact that this week's trading patterns suggest additional downside, the overall bearish momentum has moderated as Nifty is currently trading above the falling resistance line,” Yesha Shah, Head of Equity Research, Samco Securities said.
Ahead of Market: 12 things that will decide D-Street action on Wednesday
Momentum indicator Moving Average Convergence Divergence (MACD) showed a bullish trade setup on the counters of Oil India, Abbott India, Coromandel International, Dhani Services, Nocil and Zensar Tech.