Stock markets cut short four-day decline; Sensex rises 317 pts on gains in auto, pharma shares
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Mint
an hour ago
- Mint
Three auto stocks to buy today—recommended by Ankush Bajaj for 16 July
On Tuesday, 15 July, the Indian stock market showed remarkable resilience as it clawed back intraday losses to close on a stronger note. Despite early weakness and broad-based volatility, the market gradually stabilized, buoyed by gains in defensive and auto sectors, reflecting selective buying and investor confidence in quality counters. The Nifty 50 closed at 25,195.80, trimming earlier losses and settling just 113.50 points or 0.45% lower. The BSE Sensex too recovered from deeper intraday cuts to end at 82,570.91, down 317.45 points or 0.39%, as investors rotated into stable and value-led stocks. The Bank Nifty also pared its earlier decline, closing at 57,006.65, down 241.30 points or 0.43%, with support emerging in select financial names. Here are three auto stocks to buy today, as recommended by Ankush Bajaj for 16 July. Buy: Hero MotoCorp Ltd (Current price: ₹4,454.00) Why Hero MotoCorp is recommended: Hero MotoCorp is showing a strong bullish setup with clear confirmation across major technical indicators. The stock has broken out from the upper channel of a falling wedge pattern on lower timeframes, which is a classic bullish reversal signal pointing to further upside. On the daily chart, the Relative Strength Index (RSI) is trading above 60, indicating healthy bullish momentum without being overbought—leaving room for the rally to extend. The breakout is supported by decisive price action and sustained buying interest, confirming that the stock is attracting fresh momentum traders. Hero MotoCorp is also holding firmly above key moving averages on both daily and lower timeframes, which reinforces the validity of this breakout. Given the strong technical setup and pattern confirmation, Hero MotoCorp remains a solid candidate for a short-term swing trade. Key metrics Technical analysis: The overall structure remains technically sound, backed by decisive price action and alignment with moving averages. The immediate upside target lies in the ₹4,580-4,600 zone as the breakout plays out. Traders can expect continuation towards this level if the broader market stays supportive and the stock holds above its near-term support levels Risk factors: A close below ₹4,395 would invalidate this breakout setup and indicate a potential short-term pullback. Any sudden reversal or sharp profit-booking near the breakout zone should be watched closely, and traders must maintain strict stop-loss discipline to protect gains. Buy at: ₹4,454.00 Target price: ₹4,580-4,600 Stop-loss: ₹4,395.00 Buy: TVS Motor Co. Ltd (Current price: ₹2,885.00) Why TVS Motor is recommended: TVS Motor is showing a strong bullish setup with confirmation across key technical indicators. On the daily chart, the Relative Strength Index (RSI) is holding at 63, indicating healthy bullish momentum with more room for upside before hitting overbought levels. On lower timeframes, the stock has broken out of a well-formed triangle pattern, which is a classic continuation signal suggesting a fresh upward leg in the short term. The breakout is backed by strong price action and sustained buying interest, indicating that momentum traders are actively participating. The stock is trading firmly above key moving averages on both daily and intraday charts, reinforcing the strength of the breakout. Given the clear pattern breakout and supportive momentum indicators, TVS Motor remains a good candidate for a short-term swing trade targeting higher levels. Key metrics Technical analysis: The overall structure remains technically strong with decisive price action and alignment of moving averages supporting the move. The immediate upside target lies in the ₹2,955-2,960 zone as the stock continues its momentum-driven breakout. Traders can expect continuation towards this level if the broader market remains supportive and the stock stays above its near-term support levels. Risk factors: A close below ₹2,845 would invalidate this breakout setup and indicate a potential short-term pullback. Any sudden reversal or profit-booking near the target zone should be watched closely, and traders must maintain strict stop-loss discipline to protect gains. Buy at: ₹2,885.00 Target price: ₹2,955-2,960 Stop-loss: ₹2,845.00 Buy: Mahindra and Mahindra Ltd (Current price: ₹3,128.00) Why Mahindra and Mahindra is recommended: Mahindra and Mahindra is trading in a large consolidation range between ₹3,135 and ₹2,650, showing strong base-building activity over a significant time period. The stock is currently positioned near the higher end of this consolidation band, indicating potential for a breakout above the range. If the price sustains above the upper band, it is expected to trigger fresh buying interest and push the stock towards new highs. The consolidation structure provides a well-defined support and resistance zone, giving traders a clear breakout level to watch. The overall price action remains positive with the stock respecting key support levels and showing signs of accumulation. With the broader market supportive, M&M is well placed to break out of this multi-month range and target higher levels in the short term. Key metrics Technical analysis: The overall structure remains technically solid with a strong consolidation base and clear resistance at the upper band. A sustained move above the range should open the path to the next target zone near ₹3,230. Traders can expect momentum to pick up once the breakout is confirmed, with the stock likely to make new highs if near-term supports hold. Risk factors: A close below ₹3,082 would invalidate this breakout expectation and signal a potential failure of the range breakout. Any sudden reversal near the upper band should be watched closely, and traders must maintain strict stop-loss discipline to protect capital. Buy at: ₹3,128.00 Target price: ₹3,230.00 Stop loss: ₹3,082.00 Market wrap Sectorally, Tuesday turned out to be balanced as no major sector ended in the red. Instead, defensives and autos led the recovery with the auto sector surging 1.50%, healthcare climbing 1.23%, and pharma gaining 1.14%, providing much-needed support to the broader indices. Among standout performers, Hero MotoCorp rallied an impressive 4.76%, while Bajaj Auto and Sun Pharma advanced 2.76% and 2.67%, respectively, driven by sustained institutional demand and sectoral strength. On the flip side, select heavyweights continued to face profit-booking. HCLTech slipped 3.30%, Eternal dropped 1.53%, and SBI Life Insurance fell 1.43%, reflecting caution in high-beta and previously overbought counters Nifty technical analysis—daily and hourly The Nifty ended Tuesday's session on a mildly positive note, closing at 25,195.80, up by 113.50 points or about 0.45%. The index opened flat but staged a steady intraday recovery, pushing back above the psychological 25,200 mark. Despite this rebound, the index continues to hover below its key 20-day simple moving average (SMA) at 25,289 and remains sandwiched between the 20-DMA and the 40-day exponential moving average (EMA) at 25,029. This positioning suggests that while immediate downside momentum has paused, the broader structure is still under pressure and the bounce must sustain above the 20-DMA to shift the bias back to neutral. On the hourly chart, the index has reclaimed levels above its short-term 20-hour SMA at 25,139 but is yet to clear the 40-hour EMA at 25,252 decisively. This zone of 25,200–25,250 now acts as an immediate supply area. The fact that intraday rallies are still encountering overhead resistance implies that a firm close above the 40-HEMA and 20-DMA is required for bulls to regain control in the very near term. Momentum signals are currently mixed and reflect this indecision. On the daily timeframe, the RSI is at 50, marking a neutral zone with no clear directional bias. The daily MACD remains positive at +100, indicating that the broader medium-term trend has not turned outright negative. On the hourly timeframe, however, the RSI is also at 50 while the hourly MACD stays at -34, pointing to intraday hesitation despite the modest rebound. Options data shows a slight improvement in near-term sentiment but still carries an overall cautious undertone. Total Call Open Interest (OI) stands at 168.4 million while Put OI is at 127.8 million, leaving a net difference of about 40.6 million—maintaining a bearish slant. However, the intraday OI changes flip the tone, with Put OI rising by 29.3 million and Call OI falling by 13.5 million, resulting in a positive net OI change difference of 42.7 million. This shift shows fresh Put writing at support levels and some unwinding of Calls, hinting that traders are hedging less aggressively for further downside—a sign of short-term stabilisation. The maximum Call OI remains concentrated at the 26,000 strike, implying a strong resistance ceiling overhead, while the largest addition was at the 25,200 strike, underlining that this zone is now a near-term hurdle. On the downside, the maximum Put OI is still at the 25,000 strike with the highest Put additions also near 25,200, reinforcing this area as a key support to watch. India VIX fell 4.17% to 11.48, showing that the bounce was orderly and volatility remains contained for now. Meanwhile, the Put-Call Ratio (PCR) stands at 0.76, still below 1, which reflects an overall cautious stance among option writers but a slight improvement versus last session's readings. In summary, the short-term structure remains vulnerable to downside tests until the Nifty decisively closes above the 20-DMA (25,289) and the 40-HEMA (25,252). Any sustained move above these levels could trigger further short covering and push the index toward the upper end of the broken range near 25,350. Until then, the bounce is likely to face selling near resistance. On the lower side, 25,000 and 24,800 continue to act as crucial support levels—a break below these could open room for another leg down. Traders should watch for rejection or acceptance near the 25,250–25,300 zone and maintain strict stop-losses if attempting counter-trend trades. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Canada News.Net
5 hours ago
- Canada News.Net
Nifty, Sensex reversed 4-day fall trend in opening, CPI inflation at 77-month low added optimism
Mumbai (Maharashtra) [India], July 15 (ANI): Indian equity markets opened higher on Tuesday, staging a mild recovery after four consecutive sessions of losses, the longest losing streak since March. The Nifty 50 index opened at 25,129.70 with a gain of 36.30 points or 0.14 per cent, while the BSE Sensex index surged to 82,338.94, gaining 85.48 points or 0.10 per cent. The rebound comes as a relief to investors following recent volatility, with the broader market indices showing strength. The Nifty Midcap 100 rose by 0.57 per cent, while the Nifty Smallcap 100 gained 0.82 per cent. The Nifty 100 also opened higher, up by 0.29 per cent, reflecting broad-based buying. The global backdrop also contributed to the recovery in Indian markets. US markets ended mildly positive. This followed stronger-than-expected economic data from China, where GDP grew by 5.2 per cent in the second quarter, highlighting ongoing economic resilience. Ajay Bagga Banking and Market told ANI 'Indian markets recovered from session lows on Monday in a sign that the 4 day fall, the first since March, may be coming to an end. The broader indices were up in contrast to the negative leader board indices. The global outlook is resilient today. We expect Indian markets to show some strength here on as multiyear low CPI provides more space for future rate cuts and the macro remains, well, resilient'. In India sectoral indices on the NSE mirrored the positive sentiment, with all major sectors opening in the green. Nifty Media led the gains, opening 1 per cent higher. Nifty Auto climbed 0.68 per cent, Nifty IT added 0.31 per cent, Nifty FMCG rose 0.22%, and Nifty Pharma and Nifty PSU Bank gained 0.22 per cent and 0.28 per cent, respectively. The Nifty Realty index was also up, posting a gain of 0.48 per cent. Despite ongoing noise around Trump Tariffs, markets appear to be taking the rhetoric in stride. Investor focus has shifted to upcoming earnings from major US banks and economic data releases. Experts noted that the US Consumer Price Index (CPI) is expected to show a mild upswing in inflation, while the Producer Price Index (PPI), due on Wednesday, may provide insights into supply chain impacts from the new tariffs. Meanwhile, safe-haven assets like gold and silver witnessed mild declines after posting smart gains in recent days, reflecting improved risk appetite among investors. Back home, Akshay Chinchalkar, Head of Research at Axis Securities, commented on the market technical and said 'The nifty ended down yesterday in what became its fourth straight daily loss. Technically speaking, yesterday's candle held support at 25000 and then bounced enough to generate a large-sized lower shadow -- that adds to evidence that the 25000 area matters. That said, unless and until the index records at least one daily close above 25340, near-term bulls need to remain cautious. This is because a drop into the 24800 - 24900 area still has decent chances.' In other Asian markets, barring South Korea's KOSPI, indices were trading with gains. Taiwan's Weighted Index surged 0.65 per cent, Hong Kong's Hang Seng was up 0.20 per cent, and Singapore's Straits Times rose 0.12 per cent at the time of filing this report. (ANI)
The Print
8 hours ago
- The Print
Stock markets cut short four-day decline; Sensex rises 317 pts on gains in auto, pharma shares
The 50-share NSE Nifty edged higher by 113.50 points or 0.45 per cent to 25,195.80. The 30-share BSE Sensex climbed 317.45 points or 0.39 per cent to settle at 82,570.91. During the day, it jumped 490.16 points or 0.59 per cent to 82,743.62. Mumbai, Jul 15 (PTI) Stock markets snapped the four-day falling streak on Tuesday with the benchmark Sensex rebounding by 317 points on buying in auto and pharma shares amid a decline in retail inflation to a more than six-year low, nearing the RBI's comfort zone. In the last four trading days, the Sensex dropped 1,459.05 points or 1.74 per cent and the Nifty declined by 440 points or 1.72 per cent. Among Sensex firms, Sun Pharma, Trent, Tata Motors, Bajaj Finserv, Mahindra & Mahindra and Bajaj Finance were the major gainers. However, HCL Tech declined 3.31 per cent after the IT services firm reported a 9.7 per cent drop in consolidated net profit for the June quarter, hurt by higher expenses and the one-time impact of a client bankruptcy. Eternal, Tata Steel, Kotak Mahindra Bank and Axis Bank were also the laggards. Retail inflation declined to over six-year low of 2.1 per cent in June, nearing the RBI's comfort zone, on account of subdued prices of food items, including vegetables, driven by widespread monsoon. The Consumer Price Index-based inflation was 2.82 per cent in May and 5.08 per cent in June 2024. Inflation is on a decline since November 2024. 'Market sentiment is showing signs of improvement, supported by a blend of global and domestic developments. Optimism is growing around the possibility of an interim trade agreement with the US, which could lead to a moderation in tariff-related risks. 'Concurrently, domestic inflation has fallen to multi-year lows, strengthening expectations of a further rate cut by the RBI—potentially accelerating future economic growth, which is currently showing signs of improvement,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE smallcap gauge climbed 0.95 per cent and midcap index went up by 0.83 per cent. Among BSE sectoral indices, auto (1.48 per cent), healthcare (1.14 per cent), consumer discretionary (0.89 per cent), FMCG (0.80 per cent), realty (0.77 per cent) and services (0.58 per cent) were the gainers. Utilities emerged as the only laggard. As many as 2,576 stocks advanced while 1,479 declined and 160 remained unchanged on the BSE. 'Markets witnessed some respite and edged marginally higher after four consecutive sessions of decline. Participants drew comfort from the further easing of CPI inflation, which triggered notable buying in rate-sensitive sectors on hopes of a potential rate cut. However, continued disappointment from the IT space, following HCL Technologies' results, capped overall momentum,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Hong Kong's Hang Seng settled in the positive territory while Shanghai's SSE Composite index ended lower. European markets were trading in the green. The US markets ended in positive territory on Monday. Global oil benchmark Brent crude dipped 0.17 per cent to USD 69.09 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,614.32 crore on Monday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,787.68 crore, according to exchange data. On Monday, the Sensex dropped by 247.01 points or 0.30 per cent to settle at 82,253.46. The Nifty settled lower by 67.55 points or 0.27 per cent to 25,082.30. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
