Markets trimmed its opening gains to settle higher by 0.3% on Thursday’s trading session led by selling in banking stocks at higher levels. With Nifty 50 sustaining above 18580, the momentum remains highly positive for a potential target of 19987. However, from a positional perspective rising crude prices and rising JPYINR pose a major threat of a major reversal for Indian markets.
Hence it is better to ride on the existing up move with a closing stop loss of 18100. Any decline towards 18500-18750 should be seen as an opportunity to add on long positions with a major focus on the non-financial segment.
Nifty 50 index
Stocks to watch
Positive Read through
- Hero Moto total sales are up 12% at 3.9 lakh vs 3.49 lakh YoY.
- Eicher Motors- Royal Enfield’s total sales are up 37% YoY at 70,766 units.
- ONGC, OIL, RIL- windfall tax on crude petroleum cut to Rs 4900/t, diesel to Rs 8/L.
- Westlife- expects 2027 sales at Rs 4000 – 4500 cr, with EBIDTA margin at 18-20%.
- Yes Bank- RBI gives conditional nod for Carlyl and Advent deal.
- Paytm sees strong growth and Adj. EBIDTA breakeven target achievable by Sept 2023.
- MOIL- Manganese ore production is up 60%, and sales are up 82% MoM.
Negative Read through
- PB Fintech – Softbank likely to sell 5% stake via block deal, floor price at Rs 440.2 a sh.
- NMDC- November production up 8% YoY, sales up 5.6% YoY.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or any of its communication cannot be held responsible for it.
