Traders are advised to book profits hereon as there could be a sharp corrective move in the coming weeks. On the downside, the immediate support is at 18,060, and a breach of the same might result in further profit-booking.
14 BSE500 stocks offer double digit returns in the week gone by. What should investors do?
A total of 14 BSE500 stocks delivered double-digit weekly returns, and 52 smallcap stocks did the same despite a volatile week, with Brightcom Group, Jai Balaji Industries and Induslnd Bank leading the way. Auto stocks made the most gains, with the S&P auto index rising 4.33% after M&M, Maruti, Tata Motors, and Eicher Motors topped the Nifty Auto index contributing a combined 55% to growth.
14 BSE500 stocks offer double digit returns in the week gone by. What should investors do?
Several stocks in BSE500 have delivered double-digit weekly returns, with Brightcom group leading the charts with a 27% gain, followed by Intellect Design Arena, Sanofi India, and Firstsource Solutions. Despite the Indian equity market's volatility, benchmark indices ended positively. Jai Balaji Industries has delivered the highest returns among the small-cap pack with a 34% rally, followed by Brightcom Group and Onward Technologies, whose shares jumped 27%. Auto stocks gained the most during the week, whereas the S&P auto index surged 4.33%. Analysts predict that strong economic data could have a positive impact on the equity markets.
Big Movers on D-St: What should investors do with Ratnamani Metal, DR Reddy’s Laboratories and FSL?
The S&P BSE Sensex and Nifty50 in India closed flat with a negative bias. Stocks in capital goods, healthcare, metals, and energy sectors experienced selling pressure, while consumer durables, FMCG, power, and utilities saw some buying. Ratnamani Metals rose over 6%, Dr Reddy's Laboratories fell nearly 7%, and Firstsource Solutions closed near its 52-week high on Thursday. Technically, Amol Athawale, Deputy Vice President of Technical Research at Kotak Securities, suggests that Ratnamani Metals could experience pricing issues below 2325, Dr Reddy's Laboratories has weak momentum, and FSL could encounter profit booking.
Firstsource Solutions, incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 9008.61 Crore) operating in IT Enabled Services sector.
Stocks to buy today: Ambuja Cements, IndusInd Bank among 9 short-term trading ideas for 11 May 2023
Indian stock market is expected to trade positively on Thursday, supported by global markets. The benchmark indices, Sensex and Nifty50, gained on Wednesday with increased volatility. This week's maximum Call OI is at 18500 and the maximum Put OI is at 18200, suggesting the market may have a trading range between 17800 to 18500 levels. Short-term traders can consider stocks like Greaves Cotton, Firstsource Solutions, CreditAccess Grameen, KEC International, Tata Communications, Divis Laboratories, Ambuja Cements, and Coal India with suggested targets and stop losses.
Big Movers on D-St: What should investors do with Mahanagar Gas, IGL and Firstsource Solutions?
The Indian stock market ended mixed on Tuesday. S&P BSE Sensex was flat while the Nifty50 managed to maintain 18250 levels. Telecom, IT, and auto stocks witnessed buying while selling was seen in public sector, utilities, and realty. Stocks like Mahanagar Gas, Indraprastha Gas, and Firstsource Solutions were up. Experts recommend buying MGL, IGL, and FSL on current dips as they are looking good on the chart and more upside can be seen in the next 6-8 months.
Delhi court orders prosecution of senior Army doctor on charge of raping Afghan woman who sought status of his 'wife'
On July 22, 2011, the Ministry of Defence passed an order saying that on the complaint of the woman, a court of inquiry was held to investigate the allegations against the officer and it has prima facie found his involvement in the "act of entering into plural marriage" during the subsistence of his first marriage.
2 mutual funds exit Paytm stock in March despite rally
In a recent exchange filing, the company said it has achieved a new milestone in offline payments with the deployment of 6.8 million Paytm payment devices like Soundbox and PoS. In just one year, the company has gone to 6.8 million devices deployed from 2.9 million devices a year ago.
FSL has boken out nicely from the triangle pattern but however we should be consider the resistance line ablove , intraday traders however can utilize and book profits near the zone
Buy Firstsource Solutions; target of Rs 130: Emkay Global Financial
Emkay Global Financial is bullish on Firstsource Solutions has recommended buy rating on the stock with a target price of Rs 130 in its research report dated February 03, 2023.
These 27 smallcap stocks give double-digit returns in a volatile market, rising up to 46%
A special dividend announcement of Rs 67 per share by TV Today Network triggered a rally in stock by up to 14.30%. In the intraday deals on Friday, the stock has risen over 15%. The company has fixed February 13 as the record date for the same and the dividend will be paid to beneficial shareholders on the same date.
Rollercoaster week sees 11 BSE 500 stocks give double-digit returns, ITC among them
The government hiked the National Calamity Contingent Duty (NCCD) on cigarettes by 16%. NCCD accounts for about 10% of overall taxes on cigarettes. Analysts expect the hike in the duty to give room for ITC to raise prices by about 1-3% across categories, which will subsequently drive its profitability.
(TMT) FIRST SOURCE SOLUTION (close 111.50) :- almost 1 year after its again near trend line resistance zone and close above MA, NOW 115 NEXT hurdle then 150+ possible 105-102 support zone #FSL
Chart Check: This midcap offers attractive risk-reward post 40% fall from highs; contra buy?
The stock hit a 52-week high of Rs 168 on 2nd February 2022 but it failed to hold on to the momentum. The stock bounced back after hitting a low of Rs 93 back in June 2022.
These two stocks to be excluded from NSE F&O segment from April series
NSE said no contracts will be available for trading in Firstsource Solutions and Torrent Power with effect from March 31, 2023, the first day of the April series.
Buy Firstsource Solutions, target price Rs 140: JM Financial
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1537.60 Crore, up 3.98 % from last quarter Total Income of Rs 1478.71 Crore and up 7.57 % from last year same quarter Total Income of Rs 1429.34 Crore. Company reported net profit after tax of Rs 129.40 Crore in latest quarter.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Momentum indicator Moving Average Convergence Divergence (MACD) showed bullish trend in the counters of JSW Energy, Aditya Birla Fashion, FirstSource Solution, Orient Cement and Swan Energy among others
These 36 stocks need to rally up to 425% to revisit their 52-week highs
According to the data from Ace Equity, as many as three dozen stocks need to post over 100% returns from their current levels. These 36 stocks need to rally 100-426% to regain their 52-week highs from the last close. The list of beleaguered counters include players from various sectors including new-age internet companies, NBFCs, IT, healthcare, petrochem, energy, auto and auto ancillaries, media, consumer durables, telecom and others.
European business chill may hurt Indian companies, too
With the British pound tumbling to its all-time low against the US dollar amid a gloomy outlook for Europe, analysts expect the earnings of companies with business interests in the region to be under pressure.
Sea of red! IT index crashes another 3%! Time to buy the dip?
Despite a steep depreciation in rupee, pushing it to new lows, software exporters have remained out of favour. Majority of them rule out expectations of a sharp recovery anytime soon, but are bullish on the space in the long run.
Tech stocks rally up to 18% in a week, Is the worst over for IT pack?
All the spending is going into IT, whether it is in terms of digitalisation, cloud migration or Blockchain. These are strategic spends and not discretionary in nature, said Nitin Raheja, Executive Director, Head - Discretionary Equities, Julius Baer Wealth Advisors.
Vakrangee, Angel One among 25 stocks that rallied up to 36% during the week
Leading the gains, Vakrangee zoomed over 36 per cent to Rs 37.65 during the week on the back of heavy volumes. The bourses sought clarification from the IT enabled service provider over the same.
#FSL It can breakout above 118 levels. Currently RSI is at 71 which shows a strong uptrend momentum. Trader can initiate long position for a target of 120/124 with a stop loss of 109.
Disclaimer: - The above views shared are for educational purposes.
Buy Firstsource Solutions, target price Rs 125: ICICI Direct
Firstsource Solutions Ltd., incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 8126.91 Crore) operating in IT Enabled Services sector.