Breakdown from a Bearish Flag and Pole pattern,indicating that bears have been tightening their grip.

Nifty formed a Bearish Engulfing candle on weekly frame and gave a range breakdown. Now, till the index holds below 17777 zones, bounce could be sold for the downside move towards 17500 then 17350 zones whereas hurdles are placed at 17777 and 17850 zones.

CD Equisearch is bullish on Deepak Nitrite has recommended buy rating on the stock with a target price of Rs 2504 in its research report dated December 28, 2022.

Deepak Nitrite, incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 26282.94 Crore) operating in Chemicals sector.

The S&P BSE Sensex fell nearly 1000 points on Friday while the Nifty50 managed to hold on to 17,800 levels.

"We have been very positive across the capital goods space as well as the ancillary or the proxy play which support power transmission and power distribution. It is also a proxy play towards India going into capex, greenfield and brown field projects. Most of these companies are part of the universe. Siemens is one company we hold across client portfolios. We can understand the enormous opportunity that India presents for the next three-five years."

Adani's flagship Adani Enterprises, which has more than doubled in 2022 itself, has also been India's most consistent performing stock during 2017-22. It has outperformed the BSE Sensex in all the last 5 years and has the highest price CAGR of 97%.

Specialty chemical companies have witnessed a smart recovery in manufacturing operations in the past one year, after the Covid-led disruptions. Supply-chain disruptions and uncertainty in China have created a significant opportunity for domestic chemical companies. Outsourcing will strengthen further as not only the supply chain shifts away from China but also from Europe on account of higher costs, said analysts.

Motilal Oswal recommended Neutral rating on Deepak Nitrite with a target price of Rs 1890 in its research report dated November 11, 2022.

Archean Chemical Industries markets the products to 18 global customers in 13 countries and 24 domestic customers. The company was the largest exporter of industrial salt in India with exports of 2.7 million MT in FY 2020-21.

The board of Balrampur Chini will also mull buyback of shares other than the quarterly results. The Byke Hospitalitys board will deliberate the issue of warrants.

Major stocks opened higher on Wednesday with investors encouraged to buy after rallies on Wall Street as the US midterm elections dominate attention. MSCI's index of Asia-Pacific shares outside Japan was trading 0.61% higher.

The S&P BSE Sensex rose nearly 800 points while the Nifty50 closed above 18000 levels on Monday.

​​With heightened geopolitical concerns, elevated inflation, and continued rate tightening by central banks keeping investors on the edge, a broad-based bull run in the new Samvat seems unlikely. ​But analysts said some stocks could still emerge as winners.

​Though the market saw a bounce-back from 16,747, the move got capped at 50% of the retracement of the fall (18,096-16,747) around 17,429. Consensus expectations of Nifty EPS for FY23 broadly remain in a range of 850-865, implying 20 times forward PE limiting the downside and India maintaining its premium.

“Among largecaps, Bhanushali has 5 top bets. These are ICICI Bank, SBI, Cipla, Reliance Industries and Ashok Leyland. Among midcaps, there are 3 chemical stocks – Deepak Fertiliser, Deepak Nitrite and JB Chemicals. Aptus Home Value is the smallcap in the portfolio where the brokerage is seeing a 32% CAGR growth in their loan books.”

Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 30647.52 Crore) operating in Chemicals sector.

Further, gross margins are expected to remain under pressure even though companies undertook price hikes to pass on input cost inflation. According to brokerage Prabhudas Lilladher, companies undertook a 4-5 per cent hike in prices during the quarter.

Further, gross margins are expected to remain under pressure even though companies undertook price hikes to pass on input cost inflation. According to brokerage Prabhudas Lilladher, companies undertook a 4-5 per cent hike in prices during the quarter.

The recent up-move has mainly been a short covering-led rally, facing resistance near 17,429 levels, where the gap zone is placed. We will be cautious going into the new week as US unemployment rate numbers last Friday increases prospects of aggressive tightening.

Hero MotoCorp, the two-wheeler manufacturer, said it will invest $60 million in US-based Zero motorcycles to jointly develop electric motorcycles. It said it is finalizing a collaboration agreement with the California (US)-based manufacturer.

"Domestic-oriented sectors are where we see the maximum opportunity and growth potential. Reasonable valuations and good opportunity lie with private banks, insurance and domestic auto. While looking for stocks, I check the companies' track record of cash generation, theor capital allocation, valuation and also how the market share has shaped up."

For the quarter ended June 30, 2022, the company reported a consolidated total income of Rs 2,067.60 crore, up 10.22 per cent from last quarter's total income of Rs 1,875.89 crore and up 34.74 per cent from last year's same quarter's total income of Rs 1,534.47 crore. The company has reported a net profit after tax of Rs 234.62 crore in the latest quarter.

For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 2067.60 crore, up 10.22 per cent from last quarter total income of Rs 1875.89 crore and up 34.74 per cent from last year same quarter total income of Rs 1534.47 crore.

While in the correction post December 2021, the stock did not get into the lower low, lower high formation which shows the bullish undertone of Bajaj Holdings & Investment. The stock in the latest week have given a breakout from the Rounding Bottom pattern, which tells the beginning of the trend on the upside.

“There are good opportunities within some of the pockets where we have seen outperformance in the last three months which include banks, autos, consumer names, real estate, QSR plays and hotels. In fact, a lot of people would be on the sidelines and they would be waiting for some correction. ”

“Cement has benefitted from the fall in raw material cost and that 30-40% drop will add to the EBITDA level. Clearly volumes are going to pick up and the largest amount of uptick will happen in the South which means companies like Dalmia Bharat, Ramco Cements as well as national players like UltraTech will benefit. JK Lakshmi will benefit from sheer valuation comfort.”