Zomato, which has been in a downtrend since November 2021, recently showed signs of a potential reversal. The stock has been consolidating within a wide range of 75-50, with higher volume participation during the lowest points.

Analyzing the trend of RSI provides insights into the strength and direction of stock prices. A bearish or declining RSI trend in the overbought zone indicates potential weakening momentum and a higher probability of a price reversal. It suggests that the stock's price may undergo a correction or enter a consolidation phase, providing cautionary signals to investors

Several BSE SmallCap stocks reached new 52-week highs on July 13, including Ashiana Housing, Birlasoft, CCL Products, CMS Info Systems, Craftsman Automation, Datamatics Global Services, Data Patterns, and DB Corp. Ashiana Housing is a residential and commercial real estate developer, while Birlasoft is an IT company that offers digital solutions.

On July 12, 2023, several stocks have crossed their 50-day Simple Moving Average (SMA), indicating positive momentum and potential for further growth. These include IT services provider Sonata Software, Railway consultancy firm Rites, plumbing systems manufacturer Astral, consumer goods company

Several Indian companies, including Asian Star Company, NMDC, Vedant Fashions, Dwarikesh Sugar Industries, Sagar Cements, SpiceJet, Indian Railway Catering And Tourism Corporation and Finolex Industries, crossed their 100-day Simple Moving Average (SMA) on July 12, signifying a potential shift in the market sentiment. Experts closely monitor the 100-day SMA, which represents a stock's average closing price over the past 100 days, for signs of bullish momentum.

JFS will be added to the FTSE All-World index with a share issue of 6,765,591,509 and an investability weighting of 49.66%. RIL will remain in the index with an unchanged investability weighting of 49.66%, FTSE said.

Closing Bell: Sensex resumes rally after 1-day break, ends 165 pts higher; Nifty above 19,400; Tanla Platforms surges 6%, Federal Bank tanks 5%

The market breadth was skewed in the favour of the bears. About 2,116 stocks declined, 1,333 gained, and 139 remained unchanged on the BSE.

Here are 4 midcap banking counters that are in the overbought zone, based on Stochastic Oscillator. Note, when the stochastic measurement is above 80, it indicates that an asset is overbought, while when it is below 20, it suggests that it is oversold. Here the data is based on the previous trading day i.e. July 12, 2024. (Source: StockEdge)

The previous 1,000-point milestone from 64,000 to 65,000 was achieved in just 3 trading sessions. The two peaks of 63,000 and 64,000 had taken 278 days and 144 days, respectively.

MACD or Moving Average Convergence Divergence is a momentum indicator. The metric shows the relationship between the two moving averages of prices. For calculating MACD, 26-day EMA is subtracted from 12-day EMA. On the other hand, a 9-day EMA of the MACD called the signal line is plotted on the top of the MACD, which provides the likely trading strategy in a stock i.e. a buy or a sell.

The Relative Strength Index (RSI) is a technical indicator that measures recent price changes in a stock, helping investors analyze stock movements to make informed investment decisions. A reading above 70 indicates overbought conditions, and below 30 suggests oversold conditions.

The Relative Strength Index (RSI) is a widely used momentum oscillator to determine overbought or oversold conditions for a stock. A score above 70 indicates overbought conditions while a reading below 30 suggests oversold conditions.

Bajaj Auto reached a new 52-week high of Rs 4,988.55 on July 13. Bajaj Auto is one of India's leading two-wheeler and three-wheeler manufacturers, known for its innovative and stylish vehicles.

The Sensex rallied by around 670 points on Thursday to reach a fresh peak of over 66,000, while Nifty also reached an all-time high of over 19,500, driven by moderating US inflation data and strong performance by the IT sector. Despite TCS's Q1 earnings miss, its shares rose over 3%, with TCS, Persistent, Infosys and Coforge trading around 3% higher.

Indian stock market benchmark Nifty is expected to reach the 21,000 mark within the next 6-9 months, according to a report by ICICI Direct. The firm said that the last four general elections resulted in the 50-stock index gaining a minimum of 11% in the electoral year, citing history as evidence.

ABB India hit a 52-week high of Rs 4,556.00 on July 13, showcasing its strong market performance. ABB India is a leading technology company offering a wide range of solutions in electrification, automation, and digitalisation.

The company's board approved a buyback proposal of up to 18.27 lakh shares with a buyback size of Rs 55 crore. The company has proposed to buy the shares at Rs 301 per share, a premium of 52% from the Wednesday closing price of Rs 198.

RIL has fixed July 20 as the record date for the share allotment of the demerged entity Reliance Strategic Investments Ltd to its shareholders. Under the demerger, shareholders of RIL will get one share of Reliance Strategic Investments for every share held in the conglomerate.

RSI or Relative Strength Index computes the ratio of the recent upward price movement of the security with the absolute price movement. The metric ranges from 0-100 and the time period considered by StockEdge to measure the metric is 14 days. Typically, RSI is a momentum indicator used in the technical analysis of stocks and helps to determine the overvalued or undervalued state of the security.

The Sensex rallied by around 670 points on Thursday to reach a fresh peak of over 66,000, while Nifty also reached an all-time high of over 19,500, driven by moderating US inflation data and strong performance by the IT sector. Despite TCS's Q1 earnings miss, its shares rose over 3%, with TCS, Persistent, Infosys and Coforge trading around 3% higher.

As the headwind for the auto sector starts to slow and the nifty auto index continues to outperform some of the other sectoral indices, we take a look at what analysts' views are on segments and sub-segments of the auto industry. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

Varun has a history of getting a kickstart from its earnings announcement. The company’s quarterly revenue has beaten the Bloomberg average analyst estimate on 20 of the past 23 occasions, while shares have risen an average 7.4% in the month following its results.

In case of cement the prices are driven by domestic demand and supply dynamics and input costs matrix. With the continued focus on infrastructure, most of the small and mid-cap companies have been able to improve the quality of their balance sheet in the last nine years. We take a look at what analysts are saying across small and midcap cement companies. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists down stocks which fulfill the various criteria as specified into the algorithms & filters.

Pledging of shares is one of the options that the promoters of companies use to secure loans to meet working capital requirements, personal needs and fund other ventures or acquisitions. A promoter shareholding in a company is used as collateral to avail of a loan. Here's a list of 7 firms where promoter pledge went down in Q1 FY24, according to StockEdge data:

BSE Sensex is up almost 600 points in a ferocious rally to close in on the 66,000 points milestone powered by positive cues from the US market. Sensex was up 586 points at 65,980 points during the Thursday morning trade. IT stocks powered the Sensex rally with TCS, Infosys, Tech Mahindra up by more than 2 per cent.

One by one each sectoral index is touching a new high, except one which is Nifty IT index, even that index might make an attempt after what is happening to TCS post its Q1 results. This is clearly indicating that bulls are not only in control of the street but also every corner of the street. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.

Zomato's shares rallied 9% to reach a 52-week high of INR 84.5, as of Thursday's intraday trade on BSE. From its 52-week low of INR 40.5, it has rallied 109%. Zomato shares are currently trading over 11% above their IPO issue price of INR 76. The average target price for the stock is INR 81, which shows a downside of just 1% from current market prices. The consensus recommendation from 26 analysts is "Buy.

Investors feel confident about purchasing a stock when it is held by multiple mutual fund schemes. A comprehensive study conducted by ETMarkets.com reveals that out of the 125 stocks owned by over 100 mutual fund schemes in June, approximately 75 stocks have delivered a return of over 10% in the current calendar year. Furthermore, the analysis identifies nine stocks that have seen an impressive surge of over 40% in 2023 so far, and these stocks were held by more than 100 mutual fund schemes in June. (Data Source: ACE MF)

SpiceJet further said that the fundraising will also be considered as an equity contribution by the promoters under the Emergency Credit Line Guarantee (ECLG) scheme, which will provide additional credit facilities of Rs 206 crore to the company.

The stock closed at Rs 111 on 12th July 2023, and also managed to close above the 50-DMA which is the short-term moving average. The Supertrend indicator also triggered a buy on the daily charts.

Zomato's shares rallied 9% to reach a 52-week high of INR 84.5, as of Thursday's intraday trade on BSE. From its 52-week low of INR 40.5, it has rallied 109%. Zomato shares are currently trading over 11% above their IPO issue price of INR 76. The average target price for the stock is INR 81, which shows a downside of just 1% from current market prices. The consensus recommendation from 26 analysts is "Buy.

LTIMindtree CEO Debashis Chatterjee said that the recognition sets the stage for future growth, with a dedicated focus on customer satisfaction, innovation, and sustainability.

According to an exchange filing on Wednesday, the company will sell up to 9% stake or 3.26 crore shares of the company in an offer for sale on July 13 and July 14. The OFS will be executed over two days, with the offer opening for non-retail investors on July 13 and for retail investors on July 14.

Tata Consultancy Services (TCS) reported a YoY rise of 17% in consolidated net profit of Q1 to Rs 11,074 crore. However, consolidated revenue increased nearly 13%, marginally lower than the estimated Rs 59,500 crore. Motilal Oswal and Nuvama retained their 'Buy' recommendation on the IT major, while Nomura maintained a 'Reduce' rating.

Bajaj Auto (BAL) is a leading two and three-wheeler manufacturer in India. Over the years, BAL has created a strong brand domestically and in export markets. Abhishek Gaoshinde, Deputy Vice President, Research at Sharekhan by BNP Paribas highlights 5 reasons why Bajaj Auto is a long-term buy

LTIMindtree CEO Debashis Chatterjee said that the recognition sets the stage for future growth, with a dedicated focus on customer satisfaction, innovation, and sustainability.

HCL Technologies reported a nearly 8% year-on-year (YoY) rise in consolidated net profit for the June quarter to Rs 3,534 crore. This was lower than the ET Now poll estimate of Rs 3,792 crore. Consolidated revenue grew 12% YoY to Rs 26,296 crore, and was also a tad below the estimated Rs 26,810 crore.

The US inflation rate for June came in lower than expected at 3%, the smallest year-over-year increase in two years. Meanwhile, retail inflation in India for June rose to 4.81%, after easing for four months in a row, as food prices surged, according to official data released post-market hours on Wednesday.

The valuation premium for stocks in the South Asian nation has risen sharply against that of emerging market, Asian and global peers. “In the short-term, the market has got stretched, so a 3-5% correction is on the cards,” said Atul Suri, a fund manager at Marathon Trends Advisory Pvt Ltd.

Morgan Stanley maintained an overweight rating on IndusInd Bank with a target price of Rs 1725. The global investment bank believes that the share price will rise relative to the industry over the next 30 days.

The tech-enabled platform is also setting up a feeder fund--the Global Investors Feeder Trust (GIFT)--based out of GIFT City to cater to foreign investors.

The aggregate profit of Nifty 50 companies are likely to rise 25% on year in the June quarter, but if metals and oil and gas sectors are excluded, the growth is likely to have been as high as 40%, according to Motilal Oswal Securities.

In the month of June, Nifty gained over 3.5% on positive global cues, strong FII inflows and lower raw material prices. At the same time, asset management companies (AMCs) turned positive on some largecap stocks and added them to their portfolios. According to a report by ICICI Direct, Adani Enterprises, HDFC, JSW Steel, Bajaj Auto, and IRCTC were among the major stocks added by the AMC in June. Here is a list of the top 10 largecap stocks that mutual funds bought in June, according to a report by ICICI Direct:

The US inflation rate for June came in lower than expected at 3%, the smallest year-over-year increase in two years. Meanwhile, retail inflation in India for June rose to 4.81%, after easing for four months in a row, as food prices surged, according to official data released post-market hours on Wednesday.

State Bank of India’s daily trend is bullish to sideways. RSI for weekly and daily is showing sideways momentum. However, RSI for monthly is showing bullish momentum. Based on option chain analysis, the range is between 580 and 600. Let’s plan a trade around this.

"We maintain a Buy on Bajaj Auto Limited (BAL) with a revised target of Rs. 5,600. BAL has launched the electric scooter Chetak. It is gradually expanding its dealership network in the EV space and is planning to reach 120 cities by H1FY24,” Abhishek Gaoshinde, Deputy Vice President, Research at Sharekhan by BNP Paribas, said.

On the weekly options front, the maximum Call OI is placed at 19500 and then towards 19600 strikes while the maximum Put OI is placed at 19300 and then towards 19400 strikes. Minor Call writing is seen at 19450 and then towards 19500 strikes while the Put writing is seen at 19300 and then towards 19250 strikes.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on BHEL while Nooresh Merani has a buy/sell recommendation on Ashok Leyland and ONGC for today's trading session. Check out the targets and stoploss.