LT Technology Services’s daily trend is bullish to sideways. RSI for monthly is showing sideways momentum. However, RSI for weekly and daily is showing bullish momentum. Based on option chain analysis, the range is between 3800 and 4300. Let’s plan a trade around this.

Sensex, Nifty erase opening gains as losses in banks weigh; Media pack surges over 1%

The proposed equity infusion during the quarter should provide growth capital. Valuations at <1x FY25E book for 1.2- 1.3% RoA, 13-15% ROE, and 16-18% asset growth look inexpensive.

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 INDIAMART while Nooresh Merani has a buy/sell recommendation on Ashok LEYLAND for today's trading session. Check out the targets and stoploss.

Shares of Adani Enterprises rallied around 3% after the Maharashtra government gave its nod to Dharavi Redevelopment Project to Adani Group. Adani Ports, Apollo Hospitals and Dr Reddy's Lab were among the top gainers in Nifty while losses in ONGC, TCS, and HDFC Bank limited the downside.

Nifty saw a day of gains on Friday. Can it keep the show up this week also?

Some of the prominent stocks that have given multibagger returns include Tanla Platforms, Suzlon Energy, Texmaco Railsystems, JBM Auto, Jindal Saw, Mazagon Dock Shipbuilders, Inox Wind Energy, Force Motors, and Aurionpro Solutions.

JSPL, part of the OP Jindal group, is one of India's largest steel producers. According to the latest data, the promoter Jindal family currently owns a 61.2% stake and has increased holdings by 0.8 percentage point since the June quarter last year.

India VIX was down by 2.33% from 10.93 to 10.68 levels on Friday. Volatility is hovering near its lower band which is supporting the bulls at record-high levels. On the weekly options front, the maximum Call OI is placed at 19600 and then towards 19700 strikes while the maximum Put OI is placed at 19500 and then towards 19400 strikes.

The tech-heavy Nasdaq 100 has surged 42% since January 1, its best half-year performance in over 20 years, fuelled by a rush for artificial intelligence (AI).

The futures short position scan conducted on the previous trading session (July 14) suggests aggressive new short positions were taken on 7 Nifty50 stocks. This is a bearish indicator that shows the futures OI has increased while the price has decreased. (Source: StockEdge)

In the Nifty500 pack, we have collated a list of 9 stocks that witnessed a 5-year swing high at the close on July 14, 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 or longer.

Eight stocks with a market cap of over Rs 10,000 crore crossed above their 200 DMAs (Daily Moving Averages) on July 14, 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.

The stock market will be shut for the rest of the day if a typhoon signal 8 is still in place by noon. The storm has not caused any major damage, although the Observatory has warned of possible flooding in some areas.

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 14.

A bearish reversal scan on the candlestick screener can help ascertain stocks that can slip downwards from an upward zone. So, here are major stocks that established a Hanging Man pattern on Friday and signal a bearish reversal. (Source: StockEdge)

Nifty futures traded 7.5 points, or 0.04 per cent, higher at 19,626.50, signaling that Dalal Street was headed for a flat start on Monday. Here's a slew of stocks that will be in focus today for various reasons.

Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today:

Air India, owned by Tata, wrote off an estimated INR7,000 crore ($927 million) in fiscal year 2023 as a result of impairments resulting from faulty aircraft and engines, as well as low-cost airline AirAsia's Indian arm, people familiar with the situation said. Losses shrank and the airline was EBITDAR positive (earning before interest, taxes, depreciation, amortisation and restructuring or rent costs), or profitable at an operating level, executives said.

Reliance Brands is reportedly in talks to acquire actress Alia Bhatt's children's wear brand Ed-a-Mamma for INR 300-350 crore. The acquisition is expected to strengthen Reliance's children's wear portfolio and give it a greater toehold in the kidswear market. The eco-friendly brand operates primarily online but is also sold through retail chains such as Shoppers Stop and Lifestyle.

The Chinese economy is forecast to have grown just 0.5% in the second quarter, though the annual pace will be flattered by base effects at a predicted 7.3%. Retail sales, industrial output and urban investment are all expected to show slowing growth, which is why markets are counting on Beijing to unveil more stimulus measures soon.

Going ahead, stock specific action will continue with first quarter earnings underway. All eyes will be on HDFC Bank, which will report its results today, a first after the merger. Banking stocks will be in focus as major private lenders including ICICI Bank, YES Bank, Kotak Bank will announce their earnings later in the week.

Shares of HDFC Bank, LTIMindtree, and Tata Elxsi will be in focus today as the companies will announce their first quarter results.

Adani Capital's management - led by former Lehman Brothers and Macquarie investment banker Gaurav Gupta, who joined the conglomerate in 2016 - owns around 10% of the company. Gautam Adani owns nearly 90% of the firm, which has been up for grabs for the last few months.

JSPL, part of the OP Jindal group, is one of India's largest steel producers. According to the latest data, the promoter Jindal family currently owns a 61.2% stake and has increased holdings by 0.8 percentage point since the June quarter last year.

Local investors are also showing confidence in auto stocks like their foreign counterparts. The allocation to auto stocks in local funds rose to a multi-month high of 8.2% in June 2023, data compiled by Motilal Oswal show.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can move upwards from a downtrend. Here are 11 stocks with m-cap over Rs 1000 crore that have established a bullish engulfing pattern on Friday (July 14, 2023) and hint at bullish reversal in the future. (Source: StockEdge)

​Nifty showed an upside breakout of 19,300- 19,550 levels on Friday and registered a new all-time high at 19,595. A reasonable bull candle formed on daily chart with a minor lower shadow.

The tech-heavy Nasdaq 100 has surged 42% since January 1, its best half-year performance in over 20 years, fuelled by a rush for artificial intelligence (AI).

The fund was raised at a concessional 5.72% rate, which includes the hedging cost, IIFL Home Finance chief executive Monu Ratra told ET. Its average cost of funds is 8.4%. The deal marks the growing confidence shown by overseas investors on India's affordable housing space, which is growing rapidly with government focus.

The company will also raise up to ₹425 crore through an offer for sale by the promoter group whose shareholding will fall to over 75% after the IPO from nearly 98%.

Driving the rally: A big drop in inflation last month. Consumer prices rose 3% in June from a year earlier, compared with 4% in May, the Labor Department reported on July 12. That was the smallest increase in more than 24 months and well below the 9.1% surge seen just a year ago.

In the first quarter of FY24, HDFC Life, SBI Life, and Max Financial Services are projected to achieve year-on-year annual premium equivalent (APE) growth of 15%, 8%, and 8%, respectively, while ICICI Prudential Life is likely to experience a 9% decline in APE on year. According to Motilal Oswal, value of new business (VNB) growth is estimated at approximately 8% on-year for SBI Life, 28% for HDFC Life, and 17% for Max Financial Services, while ICICI Prudential Life's VNB is expected to decline by 5% on year in the first quarter.

In a note, ICICI Securities said earnings growth momentum for housing finance (HFC) and microfinance companies is likely to be better sequentially, helped by an upward repricing in asset portfolio after a 25 to 50 basis points hike in lending rates between March and April. One basis point is 0.01 percentage point.

The stock has created a strong base above 72 levels since June. The stock moved in a narrow range where 80 acted as a stiff resistance while on the downside 72-73 acted as a crucial support for the stock since June 2023.

Amid strong global sentiment and fresh foreign fund inflow, Indian equities notched fresh lifetime highs in Friday’s trade led primarily by IT pack that gained a sharp over 4%. Nifty after hitting a new high of 19,595 levels ended 0.78% higher at 19,564. Meanwhile, broader markets ended even stronger with Nifty Midcap 100 ending over 1% higher.“Nifty index's break above the consolidation range of 19300-19500 suggests increasing optimism in the market. The resistance at 19500, which was heavily built by Call writers, has been surpassed on a closing basis. This breakthrough is expected to lead to a significant rally as the Call writers unwind their positions. The bullish crossover on the momentum indicator RSI reinforces the upward momentum. The Nifty may potentially reach levels around 19700-19720, but it's important to consider the short-term support at 19300, Rupak De, Senior Technical analyst at LKP Securities, said.Here are stock recommendations for Monday:

Sectorally, buying was seen in IT, metal, realty, and telecom stocks while selling was seen in consumer durables, and power stocks.

Recently, China announced measures to prop up its real estate market, once again. Given the fact that China is the biggest guzzler of metal, focus is back on metal stocks. Unlike 2021 and early 2022 when the outlook was bullish across the board because of supply chain bottlenecks. This time around it is not secularly but selectively bullish. It is selected stocks which are getting attention, companies either with large capacity, fully integrated or in any area where they are literally monopolies in some segments.

While small caps have been moving upward for the last many weeks, as the nifty touches a new high every second day, higher participation of the small cap segment. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks from small cap space with high upside potential over the next 12 months, having an average recommendation rating of “Buy” or "Strong Buy" and also meeting parameters like net margins and return on equity.

PE ratio is one of the most overused and misused ratios. It is used by all and sundry to justify their valuations and create a mirage of value. Right from investor presentations to research reports, one finds its mention everywhere. But is this the right matrix to look at ? It is better to use PEG ratio when looking for long-term investment, though finding the right ratio is itself a challenge

Reliance Industries and Tata Consultancy Services led the pack among the top-10 most valued Indian companies, adding a combined Rs 2,03,010.73 crore ($27.5bn) in market valuation last week, mainly due to gains in equity markets. The value of Reliance Industries rose to Rs 18,53,033.73 crore last week, while TCS

HDFC Bank is set to release its earnings for Q1 2022, the bank's first earnings since its mega-merger with parent Housing Development Finance Corporation. Last week, the bank shared provisional numbers showing gross advances rose 13% YoY to INR22.45tn ($301bn) while deposits

Maya, an options expert, introduced Tara to covered calls, a conservative options strategy that generates income from selling call options on underlying stock. Maya explained the strategy by providing an example of selling a call option for Infosys with a strike price of ₹1,360, earning a premium of ₹27 per share.

Indian domestic equities have gained for the third week, but investors are warned of the possible bouts of profit booking to occur this week after such a strong market run. Major index heavyweights releasing their June quarter earnings could trigger caution among investors, alongside the monsoon session of the parliament

Indian domestic equities have gained for the third week, but investors are warned of the possible bouts of profit booking to occur this week after such a strong market run. Major index heavyweights releasing their June quarter earnings could trigger caution among investors, alongside the monsoon session of the parliament

​Going by the derivatives data, there is a high accumulation of the OI near 19800-19900 levels. Going by this data, one can expect the markets to find stiff resistance near that zone over the coming days even if the current uptrend is to extend itself.

“An investor who invested Rs 10,000 with us in 1985 would be worth Rs 300 crore today,” says Uday Kotak said. He believes that a virtuous cycle for India is on the cards, and the financial sector is in its Goldilocks period

According to the latest shareholding pattern available with the exchanges, promoters own majority of the stake at 53.70%, while the rest of 46.30% lies with the public shareholders.

The largest bank in the nation, JPMorgan Chase & Co., led the way with $14.5 billion in profit, helped by growth virtually across the board, including increases in lending and credit-card transactions. Wells Fargo pulled in $4.9 billion and Citi earned $2.9 billion. All of the earnings were higher than analysts had expected.

When the nifty is forming a new high everyday, risks are increasing on the street. In such times, it would be better that while looking at stocks one also focuses on reducing the risk by taking a hard look at some numbers which are critical indicators. Refinitiv’s Stock Report Plus which lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".