Over 90 stocks were found to be in an overbought zone by StockEdge on Thursday, and ETMarkets has picked out 10 of those for analysis. The Relative Strength Index (RSI) shows a stock's momentum and velocity of price movement on a scale of 0 to 100, with a reading above 70 indicating that a stock

In the current market setup, Indian equities are trading close to their highest levels. The benchmark index and the broader midcap and smallcap indices are hovering around their 52-week high levels. In today's analysis, ETMarkets identified 8 midcap stocks that appeared to be missing out on the widespread rally. These companies, for some reason, were not experiencing the growth seen in their counterparts. Despite the bullish market sentiment, these stocks are trading at a substantial discount of over 40% compared to their highest levels in the past year. (Data Source: ACE Equity)It is intriguing to note that, based on Trendlyne data, 5 out of 8 stocks show promise of double-digit upward growth.

Bharti Airtel surged above the 20 SMA on July 21, 2023, with its stock price at Rs. 884.85, above the 20 SMA of Rs. 873.22. Bharti Airtel is a leading telecommunications company, providing mobile, broadband, and digital services to millions of customers in India and beyond.

Relative Strength Index (RSI) is a valuable technical indicator which gives insights to make informed decisions. It tells about stock's momentum and potential price movements. RSI measures the speed and change of price movements on a scale from 0 to 100, and readings above 70 indicate an overbought condition, while readings below 30 suggest an oversold condition. Analysing RSI trends can help investors gauge a stock's potential for price reversals or continued momentum.

On July 20, 2023, several Indian companies, including Shoppers Stop, Marico, and Vedant Fashions, crossed the 50-day Simple Moving Average, indicating potential changes in short-term trends. Shoppers Stop's stock surged to Rs. 788.7, Marico showcased steady performance, and Vedant Fashions continued to grow.

HUL reported a standalone net profit of Rs 2,472 crore for the June quarter which was up 8% year-on-year versus Rs 2,289 crore posted by the company in the year-ago period. The company's sales increased 7% YoY to Rs 14,931 crore. An ET NOW poll of analysts had anticipated the profit figure at Rs 2,615 crore.

In the current market setup, Indian equities are trading close to their highest levels. The benchmark index and the broader midcap and smallcap indices are hovering around their 52-week high levels. In today's analysis, ETMarkets identified 8 midcap stocks that appeared to be missing out on the widespread rally. These companies, for some reason, were not experiencing the growth seen in their counterparts. Despite the bullish market sentiment, these stocks are trading at a substantial discount of over 40% compared to their highest levels in the past year. (Data Source: ACE Equity)It is intriguing to note that, based on Trendlyne data, 5 out of 8 stocks show promise of double-digit upward growth.

Paytm is expected to announce stable revenue growth in its first-quarter earnings, with growth in its financial services offset by weak commerce business and lower payments revenue. The company's revenue growth is mixed, with some predicting up to 14% growth, while others anticipate flat or lower revenue.

Thirty stocks were reported to be trading with a Relative Strength Index(RSI) trending down on July 20th, indicating weakened price momentum opportunities. The RSI, a technical indicator measuring change and speed in price movements, ranges from 0 to 100. Readings above 70 signify a stock

Moving Average is a crucial technical milestone for stocks, often indicating potential changes in long-term trends. On July 20, 2023, companies like Gujarat Ambuja Exports, Borosil Renewables, and others demonstrated their strength and positive momentum by surpassing this indicator.

Led by a 10% crash in shares of Infosys, Sensex plunged 750 points to slip below the 67,000 mark while Nifty cracked 1% to the sub-19,800 level. On the back of a Rs 1.15 lakh crore push from FIIs, Sensex and Nifty have seen a 10% rally so far in the calendar year 2023 to all-time high levels.

India's Federal Bank has raised 9.59 billion Indian rupees ($116.92 million) via preferential issues of shares to the International Finance Corporation (IFC), a member of the World Bank Group.

Retaining its price target, Macquarie, in a note, said that it did not ascribe value accretion from JFSL (erstwhile Reliance Strategic Investments). With the key tactical catalyst in the form of demerger behind now, Macquarie sees RIL shares underperforming on the likelihood of lower earnings going ahead, it said, estimating the FY24-25E net profit at 15%-20% below the visible alpha consensus.

Hindustan Unilever on Thursday reported 6.9 per cent rise in consolidated profit after tax at Rs 2,556 crore for June quarter 2023-24 riding on a gradual recovery in the FMCG industry despite operating in challenging environment.

There are many companies whose fortunes are tied up with crude oil prices because raw materials are made from crude derivatives. That is the reason why, the moment there is an announcement of a cut in production either by OPEC or even a voluntary cut by Saudi Arabia, their stock price feels the pain. We looked at companies whose fortunes are linked to crude indirectly and may gain as the crude have remained at levels which are in comfort zone for Indian companies.

A company can be delisted by buying out just 90% of its holding. This may result in some minority shareholders left out despite the delisting. This creates ongoing compliance challenges and becomes expensive for the delisted companies.

Its revenue from operations during the reporting quarter surged 13.5% YoY to Rs 8,152 crore as against Rs 7,189.3 crore in the same quarter a year ago.

The stock with a market capitalization of more than Rs 3,100 crore on the BSE rose from Rs 219 as of 11th July to Rs 250 recorded on 18th July 2023 which translates into an upside of over 14%.

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 9 firms where promoter pledge declined in Q1 FY24, according to StockEdge data:

We have delivered strong growth across both Digital Platforms and Enterprise Communications business. Our strategic bets are giving us tremendous scale and reach to enterprises while continuing to have an incredible innovation engine," said Uday Reddy, Founder Chairman & CEO of Tanla Platforms.

Infosys shares plunged nearly 10% to the day's lows of 1,305 following its June quarter earnings on Thursday where it significantly cut its FY24 revenue growth guidance. The last major fall for Infosys was on April 17, 2023, when the stock fell by over 14% while the Nifty IT index fell 7.62%.

The share price of JFSL, as derived in the special pre-open session held on Thursday, is nothing but the difference in RIL's closing price on Wednesday and opening price on Thursday at 10 am after the special session.

In the last many months when IT stocks came under pressure it was financial service stocks including banks which have been able to help the nifty recover. On days when global markets are under pressure and the nifty is showing signs of out performance. A number of times this up move is led by financial service and bank stocks. We take a look at what analysts are saying for all the financial service stocks which are part of the Nifty financial services index.

Brokerage firm CLSA downgraded Tata Communication to outperform, Macquarie maintained an outperform rating on ABB India, and Jefferies retained a buy on Infosys while it downgraded HUL to hold.

Led by a 10% crash in shares of Infosys, Sensex plunged 750 points to slip below the 67,000 mark while Nifty cracked 1% to the sub-19,8000 level. On the back of a Rs 1.15 lakh crore push from FIIs, Sensex and Nifty have seen a 10% rally so far in the calendar year 2023 to all-time high levels.

IndiaMart board has approved a proposal for a buyback of 12.5 lakh equity shares for an amount not exceeding Rs 500 crore. The buyback price is fixed at Rs 4,000, which is a 37% premium from the current levels.

After an overwhelming response to the IPO, shares of Utkarsh Small Finance Bank listed at a robust premium of 60% over the issue price. The stock was listed at Rs 40 on NSE while it debuted at Rs 39.95 on BSE as against the IPO price of Rs 25.

Utkarsh Small Finance Bank's IPO received a large response from investors, with the issue being subscribed nearly 102 times at close. The stock was listed at Rs 40 on NSE and Rs 39.95 on BSE, 60% higher than its IPO price of Rs 25. The bank's net NPAs stood at 1.33%, 2.31%, and 0.39% for FY21, FY22, and FY23, respectively. ICICI Securities and Kotak Mahindra Capital Company acted as the book-running lead managers to the issue.

Brokerages remained mixed on Infosys stock following Q1 results. Among foreign brokerages, Jefferies recommended a 'Buy' while Nomura suggested a 'Reduce'. Back home, Motilal Oswal retained a 'Buy' view while Nuvama recommended a 'Hold' on the counter.

Bloodbath on D-St! Sensex tanks over 650 points, Nifty below 19,800; Infosys plunges 9%, HCL Tech 5%; L&T, Kotak bank, ITC are some of the gainers in the morning trade.

DLF’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 450 and 510. Let’s plan a trade around this.

Nifty keeps shooting up and comes close to 20,000 despite some dull show in the morning session.

Brokerages remained mixed on Infosys stock following Q1 results. Among foreign brokerages, Jefferies recommended a 'Buy' while Nomura suggested a 'Reduce'. Back home, Motilal Oswal retained a 'Buy' view while Nuvama recommended a 'Hold' on the counter.

The BSE Sensex was trading 690 points or 1.02% lower at 66,882. Nifty50 was trading at 19,797, down 182 points or 0.91% at around 9.18 am.

India VIX was up by 1.59% from 11.60 to 11.78 levels on Thursday. Volatility spiked to create momentum and cheer the bulls at lifetime high zones. On the monthly options front, the maximum Call OI is placed at 20,000 and then towards 20,100 strike while the maximum Put OI is placed at 19,800 and then towards 19,900 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 Sun Pharma and Axis Bank while Nooresh Merani has a buy/sell recommendation on GAIL and Grasim for today's trading session. Check out the targets and stoploss.

A bearish reversal scan on the candlestick screener can help ascertain stocks that can slip downwards from an upward zone. So, here are 4 major counters that established a Hanging Man pattern on Thursday and signal a bearish reversal. Note, Hanging Man pattern is a one-day candlestick pattern in which there is a small red real body and a lower shadow extending from the body and is formed at the top of an uptrend. (Source: StockEdge)

Stocks that were in focus include names like Olectra, which fell 0.65%, Policybazaar, which rose 3.66%, and HDFC AMC, which gained 4.51% on Thursday.

Five 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 20.

The Futures Long Position Scan performed on Thursday revealed Aggressive New Long positions on 7 Nifty 50 counters. This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days, the cumulative open interest, and the price of the stocks have increased. (Source: StockEdge)

Six stocks with a market cap of over Rs 1000 crore crossed above their 200 DMAs (Daily Moving Averages) on July 20, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

In the Nifty200 pack, we have collated a list of four stocks that witnessed a 5-year swing high at the close on July 20, 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.

GIFT Nifty on the NSE IX traded 5 points, or 0.03 per cent, higher at 19,863.50, signaling that Dalal Street was headed for muted start on Friday. Here's a slew of stocks that will be in focus today for various reasons.

As well as the U.S. Federal Reserve meeting next week, the Bank of Japan will meet amid speculation of imminent policy tweaks. Early on Friday, Japan's inflation stayed above the central bank's target of 2% for the 15th straight month in June, but gains matched a median market forecast.

The drop in net worth to $234.4 billion is the seventh-largest decline ever among those in the Bloomberg Billionaires Index, and further narrows the wealth gap between Musk and Bernard Arnault, the world’s two richest people. Musk’s fortune still exceeds that of Arnault, chairman of luxury goods maker LVMH, by about $33 billion.

The Nasdaq has surged about 34% this year to levels not seen since early April 2022, supported by a seemingly unstoppable rally in megacap growth names such as Nvidia and Meta on optimism over the potential of artificial intelligence, a U.S. economy that has proven more resilient than many anticipated and expectations the end of then Federal Reserve's aggressive rate hike cycle was on the horizon.

“Price volume surge can be seen in KEI Industries which shows buying interest is intact after making higher highs from the last five months. Traders can buy the stock for a target of Rs 2710 in the next 2-3 weeks with a stop loss of Rs 2500,” Shivangi Sarda, Analyst, Derivatives and Technical Research, Motilal Oswal Financial Services Ltd, said.

Infosys has trimmed its revenue guidance for FY24 on weak global macro environment. The company now sees its revenue growing at just 1-3.5% in constant currency terms.

According to corporate shareholding data available till June 2023, Damani, Damani publicly holds 14 stocks with a net worth over ₹166,949.6 crore with the largest being VST Industries where he is the single largest shareholder and India Cements, where his 21% ownership makes him the single largest public (non-promoter group) investor. Apart from being an investor in His other retail sector exposure is in Trent, the chain backed by Tata Group.

The Nifty scaled a new high of 19,991.85, beating its previous record of 19,851.70. The gauge of top 50 companies ended at 19,979.15, up 146 points or 0.74% from the previous close. The Sensex topped 67,619.17 in Thursday's trading, surpassing Wednesday's all-time high of 67,171.38. The index closed at 67,571.90, up 474.46 points or 0.71% from the previous record closing high of 67,097.44.