On July 21, StockEdge reported that 29 stocks with Relative Strength Index (RSI) were trending down, indicating a possible shift in their price trends in the stock market. The RSI, which ranges from 0 to 100, is widely used to identify overbought and oversold conditions in a stock, and values above 70 suggest the stock

The RSI is a technical indicator that measures the speed and change of price movements. It oscillates between 0 to 100 and is typically used to identify overbought or oversold conditions in a stock. An RSI value above 70 indicates that the stock is overbought and may be due for a correction, while an RSI below 30 suggests that the stock is oversold and might experience a rebound.

Several companies within the S&P BSE 100 Index achieved new 52-week highs on July 24, 2023, with some standouts being Ashok Leyland, Grasim Industries, and United Spirits. ICICI Bank, L&T, ONGC, and Tata Motors DVR also reached new highs. The data was sourced from BSE at 12.40 pm, and updates could come with a lag.

The Nikkei ended the day up 1.23% at 32,700.94. Of the index's 225 components, 198 rose, while 25 fell and two were flat. The broader Topix added 0.84% to 2,281.18. Transport equipment makers gained 1.65% to be among the top three industry sectors on the Tokyo Stock Exchange.

The state-owned firm also inked an initial pact with REC for securing finance of Rs 50,000 crore for projects of its subsidiaries and joint ventures. REC will provide financial assistance to set up new power generating stations based on conventional and renewable sources of energy, according to a statement on Friday.

Paytm's consolidated net loss narrowed to Rs 357 crore for the quarter ended June. It was Rs 644 crore in the year-ago period. However, the loss has widened when compared with Rs 168 crore reported in the preceding March quarter.

As the large auto companies make a comeback, even the auto ancillary stocks are coming back on the attention list. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

Except for one trading session in which nifty witnessed a sharp cut, nifty and sensex have been moving higher for the last one month. During this period, some stocks have witnessed consistent improvement in their scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

Further, the board has approved a buyback not exceeding 6,65,000 lakh equity shares for an amount not exceeding Rs 59.85 crore. The buyback price is fixed at Rs 900 per equity share, which is a 76% premium from the last closing price.

“Small-cap Stocks go through times of euphoria, but in the long term, they should do well. In the last 5 years, the midcap index has done better than nifty, whereas the small-cap index has underperformed,” Naysar Shah, Managing Partner (Equities) at Credent Asset Management, said.

Following the Q4 results, Kotak Institutional Equities maintained its 'Sell' rating on Vedanta with a target price of Rs 215 (Rs 235 earlier). The company reported a consolidated net profit of Rs 2,640 crore for the quarter ended June, down about 40% from Rs 4,421 crore reported in the same quarter last year.

The stock hit a 52-week high of Rs 775 on 7th November 2022 but it failed to hold on to the momentum. The stock found support at Rs 557 on 29th March 2023 and then bounced back.

Kotak Mahindra Bank on Saturday reported a 67% year-on-year (YoY) jump in its standalone net profit at Rs 3,452 crore. The profit figure stood at Rs 2,071 crore in the corresponding quarter of the previous financial year.

A foreign institutional investor (FII) is a person or company that invests in a country other than the one where it is registered or has its headquarters. According to StockEdge data, here's a list of 10 largecap stocks wherein FIIs increased their stake in Q1:

The Indian equity market showcased a mixed performance in the last week after top software services provider Infosys slashed its revenue outlook and flagged weakness in client spending. Meanwhile, a host of analysts shared their tech views on particular stocks that can rally up to 17% in the short term. These stocks include Piramal Pharma and ONGC. Here is a list of 4 tech picks from various analysts: Here is a list of 4 tech picks from various analysts:

Investec maintained a buy rating on Kotak Mahindra Bank with a target of Rs 2300. Liabilities momentum has improved and the net interest margins (NIMs) are likely to remain elevated. The asset quality remains best in class, and the brokerage firm believes that the bank's NIMs should stabilise above 5%.

“Dream Folks Services Ltd (DFS) commands good margins and runs an asset-light business, that is, well-poised to grow as the air travel industry is poised to show growth going forward,” Narendra Solanki, Head Fundamental Research - Investment Services, Anand Rathi Shares and Stock Brokers, said.

“Small-cap Stocks go through times of euphoria, but in the long term, they should do well. In the last 5 years, the midcap index has done better than nifty, whereas the small-cap index has underperformed,” Naysar Shah, Managing Partner (Equities) at Credent Asset Management, said.

From the Sensex pack, Kotak Mahindra Bank and JSW Steel were the top losers, falling 1-2%. HUL, Titan, Tata Steel, Reliance Industries, Maruti and Tata Steel also opened in the red. Whereas, L&T, Infosys, ITC, IndusInd Bank, Wipro, SBI, and UltraTech Cement opened with gains.

Canara Bank’s daily trend is bullish to sideways. RSI for monthly, weekly and daily is showing bullish momentum. Based on option chain analysis, the range is between 320 and 350. Let’s plan a trade around this

Opening Bell: Sensex sheds 50 points, Nifty below 19,750; RIL, Kotak Bank drop 2% each.

Diversified conglomerate Reliance Industries (RIL) on Friday reported a year-on-year (YoY) drop of 11% in the consolidated net profit for the quarter ended June 2023 to Rs 16,011 crore. Consolidated revenue declined 5.3% YoY to Rs 2.11 lakh crore.

On the monthly front, the maximum Call OI is placed at 19900 and then towards 19800 strikes while the maximum Put OI is placed at 19800 and then towards 19700 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 Coromandel International and ONGC, while Nooresh Merani has a buy/sell recommendation on ONGC and GAIL for today's trading session. Check out the targets and stoploss.

After several days of gains, the Nifty saw a weak Friday. Despite attempts to recover, it closed with a net loss.

Four stocks with a market cap of over Rs 1000 crore are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on July 21.

In the Nifty500 pack, we have collated a list of 10 stocks that witnessed a 5-year swing high at the close on July 21, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years.

The counter is in a downward trend and from the last trading session it has broken a demand level at around Rs 1350 and also given a closing below the same level. The overall structure is distorted as it trades below its all-important moving averages, however, it has a next demand zone near 1300-1280. On the upside, 1350 is an immediate susceptible area. Above this, we can expect a run-up towards 1400+ levels in the near term.

Nifty futures traded 41 points, or 0.21 per cent, lower at 19,725.50, signaling that Dalal Street was headed for a negative start on Monday. Here's a slew of stocks that will be in focus today for various reasons. Here's a slew of stocks that will be in focus today for various reasons.

Markets are fully priced for quarter point hikes from the Federal Reserve and European Central Bank, so the focus will be on what Fed Chair Jerome Powell and ECB President Christine Lagarde say about the future.

Option data suggests a shift in trading range in between 19500 to 20200 zones while an immediate trading range in between 19600 to 20000 zones.

"Indian Hotels stock has also been forming a ‘Higher Top Higher Bottom’ formation which is a sign of an uptrend. Hence, since the technical structure indicates the possibility of a resumption of the uptrend," Ruchit Jain, Lead Research, 5paisa.com, said.

Kotak Mahindra Bank reported a 67% year-on-year jump in its standalone net profit at Rs 3,452 crore. The net interest income stood at Rs 6,234 crore, up 33% YoY.

The transaction is expected to close in the fourth quarter of this year. The aim of the deal is to position Adani Capital as a standalone company to expand its lending operations.

Top Indian companies are facing challenges due to the capital-markets regulator's new Environmental, social and governance (ESG) rules as they struggle to collate non-financial data dispersed across various internal systems, evaluate the impact of disclosing private data on sensitive governance issues, and start dealing with the complexity of capturing and auditing data from thousands of their suppliers.

Creditors could drop the demand for accelerated repayment; all litigations may come to an end if talks turn out to be fruitful.

Many were, and some still are, oblivious of the price of not disclosing overseas stock options which have been vested but not exercised, ongoing retirement schemes like 401(k) in the US, and beneficial interests in offshore companies.

​​FPIs bought shares worth Rs 30,662 crore in the first half of July. Most banks reported better-than-expected earnings growth in the March quarter with further margin expansion, while asset quality improved.

For the past four quarters, margins of cement firms have been largely impacted by high raw material costs. But in the year-to-date (YTD) period in 2023, pet coke and thermal coal prices have fallen close to 40%. This should provide relief to cement firms and elevate their margins.

Go First, the first Indian airline to file for voluntary insolvency proceedings, is reaching out to asset reconstruction companies and distressed debt funds for short-term priority funding, focusing on alternative sources of funds to ensure revival is not impacted by procedural issues. Lenders, Bank of Baroda and Central Bank of India, have agreed in principle to lend INR 450 crore, which would come at a 20% interest rate.

Coffee Day Global, which runs the Cafe Coffee Day chain in India, has been admitted for corporate insolvency by the Bengaluru bench of the bankruptcy court following a petition filed by IndusInd Bank. A subsidiary of listed Coffee Day Enterprises, which was promoted by the late VG Siddhartha that committed suicide in 2019, the company has outstanding debt of ₹67.3 crore from IndusInd Bank as of 31 March 2022, with the total debt standing at ₹960 crore, according to its annual report.

By extending inter-company loans, VRL can address outstanding external debt requirements, including a $1bn bond due in January 2024. The move could also enable VRL to borrow $2.4bn, upfront, using brand fee receivables to repay outstanding debt obligations.

Amid signs that inflation pressures are finally ebbing, setting up what has historically been a bullish stretch, the S&P 500 Index is a mere 5.4% below its all-time peak. It's a backdrop that raises the stakes for this week's pivotal central bank meeting, with economists still debating whether a recession is ahead this year.

​Nifty has almost tested the new milestone of 20,000 and gained over 7% in the last four weeks, which has pushed the oscillators into the overbought zone. The sharp dip in IT has derailed its momentum, and we could see a breather in auto and FMCG.

The perceived earnings miss, which has come on the heels of the 31% record-breaking surge in the stock price from its 2023 lows in March, could dampen investor sentiment in the absence of near-term positive triggers, said analysts.

With the near-uninterrupted 17% rally from the 2023 lows in March taking domestic benchmark indices to record highs and pushing share valuations to elevated levels, there are concerns that the market may be overheated in the near term which could result in foreigners moderating their purchases of local stocks.

The stock hit a 52-week high of Rs 405 on 19th June 2023 but failed to hold on to the momentum. The stock consolidated in a narrow range where Rs 400 acted as a strong resistance, while on the downside, support was above Rs 370. The support also corresponds with the 50-DMA on the daily charts. The stock did surpass Rs 400 levels in intraday trade on Thursday when it hit a high of Rs 405 but saw some profit-taking in Friday’s trade.

Noise about a company and its stock are at their highest when quarterly results are announced. The reason, right from the company's management making claims to clarifications, analysts to the media, everyone is focussed on what happened in the previous quarter to get a clue about what will happen in future. To cut through all the noise and make the right decisions, whether it is trading or investing in that stock, some data points with trends are important to look at so that the probability of that decision going right increases.

Noise about a company and its stock are at their highest when quarterly results are announced. The reason, right from the company's management making claims to clarifications, analysts to the media, everyone is focussed on what happened in the previous quarter to get a clue about what will happen in future. To cut through all the noise and make the right decisions, whether it is trading or investing in that stock, some data points with trends are important to look at so that the probability of that decision going right increases.

"Even if we consider in-the-money or at-the-money call options, there will still be extrinsic value in addition to intrinsic value in the total premium you pay to buy the option. This extrinsic value will decrease resulting in a reduction of total premium if the stock doesn't move or even moves slowly in your direction."