Nifty 50 Outlook: For the past few weeks, Nifty has been moving up and down in the range of 50 days SMA (Simple Moving Average) and 20 days SMA. According to the chart, the Nifty is showing a declining trend as it has made lower top and lower bottom in the last three trading days. Apart from this, the 20-day moving average is below the 50-day moving average, which is indicating negative for Nifty in the near term. Heavyweight stocks like Reliance and Tata Steel are looking weak on the daily chart, due to which there is a possibility of a fall in Nifty. In the coming trading days, Nifty can fall to the level of 17613.
Talking about individual stocks, according to Subhash Gangadharan, Senior Technical and Derivatives Analyst, HDFC Securities, investing in Aarti Industries and Firstsource Solutions can earn up to 16 percent profit in the next 15-26 trading days. On the other hand, brokerage firm ICICI Securities has increased the target price of NHPC and by investing in it, a profit of up to 36 percent can be earned.
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- Aarti Industries has shown strength this week. The Nifty index declined 1.19 per cent but Aarti Industries rose 4.1 per cent. During this uptrend, it has also broken the recent trading range.
- Technical indicators are giving positive signals as the stock is trading on the SMA (Simple Moving Average) of 20 and 50 days. Apart from this, daily momentum indicators such as 14-day RSI (Relative Strength Index) are also showing an uptrend.
- The prices of this stock are showing bullish trends even further and it may touch its former high level again in the coming trading week.
- You can buy in this stock in the level of Rs 970-1000. Investors should keep a stop loss of Rs 960 for a target price of Rs 1050 for 15-26 trading days. A trading day ago, it had closed at Rs 986.95 on NSE. Talking about today (November 18), its prices fell below Rs 970 in intra-day but technical indicators are looking strong.
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- Its shares had reached a record high of Rs 223 last month, after which the correction started. Right now it is getting support at Rs 167 which is a strong support level above 200 days EMA.
- The 14 day RSI momentum is once again moving upside down and the immediate technical set up looks positive. It is showing a bullish trend in the coming trading days.
- Investors can buy in Firstsource Solutions in the price range of Rs 176-180. A trading day ago, it had closed at a price of Rs 178.15. In 15-26 trading days, investors can invest in this company with a stop loss of Rs 167 for a target of Rs 206. Talking about today, today it is showing a decline and in intra-day it fell below Rs 176 but this stock is looking strong on technical indicator.
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- NHPC (National Hydroelectric Power Corporation) had a standalone net profit (Profit After Tax) of Rs 1300 crore in the second quarter of the current financial year 2022, July-September 2021, which was just 0.5 percent higher on a year-on-year basis.
- The financial position of the company will be determined by higher production, reduction in employee cost and reduction in other expenses and the company is on the right track to achieve EPS (earnings per share) of Rs.3.2 in FY22. The company’s EPS stood at Rs 2.2 in July-September 2021, which grew by 9.7 per cent year-on-year.
- In view of this, analysts at ICICI Securities have retained its ‘Buy’ rating and increased its target price from Rs 35 to Rs 45. A trading day ago, it had closed at a price of Rs 33.20.
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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