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Economic Times
24 minutes ago
- Economic Times
Breakout Stocks: How to trade Torrent Pharma, SBI Life and eClexr that hit fresh 52-week high?
Indian markets closed negatively for the second straight day, with the BSE Sensex dropping over 700 points and the Nifty50 falling below 24900. Healthcare saw buying interest, while oil & gas, power, utilities, and capital goods experienced selling pressure. Analysts suggest holding Torrent Pharma, considering buying SBI Life on dips, and avoiding eClerx due to potential reversal signals. Tired of too many ads? Remove Ads We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Analyst: Kunal Kamble, Sr. Technical Research Analyst at Bonanza Torrent Pharma: HOLD Tired of too many ads? Remove Ads SBI Life Insurance: Buy On Dip Tired of too many ads? Remove Ads eClerx: Avoid The Indian market closed in the red for the second consecutive day in a row on Friday. The BSE Sensex fell more than 700 points while the Nifty50 closed below buying was seen in healthcare while selling was seen in oil & gas, power, utilities and capital that hit 52-week high include names like Torrent Pharma which rose more than 2%, SBI Life gained nearly 2% and eClerx pared gains and closed 0.3% lower on Pharma has given a breakout above the falling trendline (initiated on 23rd June 2025) and has now also surpassed its previous swing high, confirming a bullish rise in volume during the breakout session reflects strong buying interest at current levels. The price is trading above all key EMAs, which suggests the broader trend remains RSI has broken above its resistance zone, pointing toward rising momentum. On the directional front, DI+ is above DI-, and the ADX is trending higher, indicating growing strength in the ongoing up stock has opened the path for a potential upside towards 3800–4200. Hold long positions with a trailing stop-loss at Life is currently consolidating near its resistance zone, reflecting a tug-of-war between buyers and sellers. While buyers are showing interest on dips, the inability to surpass the resistance suggests hesitation at higher RSI flattening at the upper range signals a pause in momentum, and the directional indicators (DI+, DI-) are converging, which reflects a lack of clear a flat ADX confirms the absence of strength in the ongoing move. The stock is likely to remain range bound in the short term, but dips may continue to attract buying interest. Accumulation on declines could be is currently trading near its resistance zone and has formed a shooting star pattern on the weekly chart, which serves as an early indication of potential recent rise in price accompanied by declining volume reflects weakening conviction in the ongoing up move. The momentum indicator (RSI) is slipping from higher levels, suggesting a possible loss of setup indicates caution at current levels. A move above ₹3882, backed by strong volume, would be required to validate further upside. Avoid fresh entries at current levels. Wait for a breakout above ₹3882 with volume confirmation for any bullish consideration.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
New Indian Express
33 minutes ago
- New Indian Express
Building a wealth creating mindset
To create wealth the first step is Building a wealth-creating mindset. How to create that mindset? Building a wealth-creating mindset involves cultivating habits, attitudes, and strategies that prioritise long-term financial growth. Here are practical steps to develop this mindset, tailored to be concise yet comprehensive: 1. Adopt a growth mindset: Believe wealth is achievable through learning and effort. Study successful investors like Warren Buffett or entrepreneurs like Elon Musk, Mukesh Ambani to understand their decision-making. Read books like Think and Grow Rich by Napoleon Hill or The Millionaire Next Door by Thomas J. Stanley to reframe your thinking. 2. Set clear financial goals: Define specific, measurable objectives, like saving Rs.1,000,000 in 10 years or generating Rs.50,000 in passive income annually. Break these into actionable steps, such as saving Rs.5000 monthly or investing 10% of your income. 3. Prioritise financial education: Learn about budgeting, investing, and debt management. Start with basics like compound interest and diversification. Use free resources like Investopedia, podcasts, or follow credible X accounts for tips. Given your past interest in saving versus investing, focus on understanding how disciplined saving fuels investment opportunities. If you are investing in Equities for the first time in your family, ensure that they understand standard deviation of equity investing! 4. Embrace delayed gratification: Shift from short-term spending to long-term gains. For example, instead of buying a Rs.10,000 gadget, invest that money in a low-cost index fund. Historically, the Index averages 12-15% annual returns! 5. Build multiple income streams: Relying solely on a salary limits wealth. Explore side hustles, real estate, or dividend-paying stocks. For instance, renting out a property can generate steady cash flow, as seen in markets like Bengaluru, where rental yields average 3-5%. However, understand that risks are hidden in all wealth creating transactions. 6. Manage risk wisely: Wealth creation involves calculated risks. Diversify investments across stocks, bonds, and real estate to mitigate losses. Avoid get-rich-quick schemes; scams cost Americans Rs.3.7 billion in 2022, per the FTC. There is no such figure available for India. 7. Surround yourself with like-minded people: Join financial discussion groups on X or local investment clubs. Engaging with others who share wealth-building goals, as you've shown interest in topics like retirement planning, reinforces discipline. 8. Track and optimise spending: Use apps or simple excel sheets to monitor expenses. Cut unnecessary costs, which can save Rs.20,000-Rs.30,000 annually for reinvestment. 9. Stay disciplined and patient: Wealth builds over time. Automate savings and investments to avoid emotional decisions. For example, setting up a monthly SIP in a mutual fund ensures consistency. You also won't need to think about investing every month. This reduces fatigue. 10. Cultivate resilience: Market downturns or setbacks are inevitable. Learn from mistakes, like over-leveraging in stocks, and adjust strategies. The 2008 financial crisis showed that long-term investors who stayed the course recovered losses by 2013. Reflecting on your interest in saving and retirement planning, a wealth-creating mindset starts with valuing small, consistent actions—like maximizing retirement contributions—while balancing cultural or family obligations.
Mint
an hour ago
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 28
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to see a muted opening on Monday, tracking mixed global market cues. The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 24,832 level, a discount of nearly 18 points from the Nifty futures' previous close. On Friday, the Indian stock market ended with sharp losses, with the benchmark Nifty 50 closing below 24,900 level. The Sensex crashed 721.08 points, or 0.88%, to close at 81,463.09, while the Nifty 50 settled 225.10 points, or 0.90%, lower at 24,837.00. Here's what to expect from Nifty 50 and Bank Nifty today: Nifty 50 broke the key support level of 24,880 and formed a big bearish candle on the daily chart, signalling weakness. On the weekly scale, the Nifty 50 slipped 0.53%, highlighting a broader weakening trend. 'Nifty 50 closed below its 50-Day simple moving average (SMA) for the first time in several weeks. Meanwhile, the gap between the 9-day and 20-day EMAs has begun to widen, indicating a strengthening bearish outlook in the short term. The index also breached the 61.8% Fibonacci retracement level drawn from the previous swing low to high, which was placed near 24,920, signaling a potential breakdown of the recent recovery attempt,' said Om Mehra, Technical Research Analyst, SAMCO Securities. Additionally, the Relative Strength Index (RSI) on the daily chart stands at 40, while the MACD continues to widen its gap between the fast and slow lines. 'The earlier 'buy-on-dip' approach may now give way to a 'sell-on-rise' strategy unless the index manages to reclaim and sustain above the crucial 25,200 level, which would be necessary to revive the upward trajectory,' Mehra said. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 index has closed near the lower Bollinger Band, a support from which can push the index upside. 'The momentum indicators in today's fall have come into the oversold region, which can also push the markets upside from current levels. The index is also at a strong weekly Buy level between 24,600 - 24,800, a bounce from this level can present a strong selling opportunity near the 25,200 levels,' said Dwarakanath. According to VLA Ambala, Co-Founder of Stock Market Today, Nifty 50 crossed its 50-day EMA, which was a key technical support for short-term traders. 'Following this breach, I advise traders to adopt a sell-on-rise strategy. Investors focused on industrial sector ETFs might consider the 24,500 level as an initial entry point. Considering these factors, we can expect the Nifty 50 to gain support between 24,720 and 24,500 and meet resistance near 24,980 and 25,050,' Ambala said. Bank Nifty index declined 537.15 points, or 0.94%, to close at 56,528.90 on Friday. For the week, Bank Nifty registered a modest gain of 0.44%. 'From a technical standpoint, the weekly price action has resulted in the formation of a Gravestone Doji candlestick pattern, which typically signals indecision in the market and a potential reversal when it appears after an up-move. This pattern, coupled with the repeated failure to breach resistance, suggests caution in the near term, with the need for a strong breakout to resume upward momentum,' said Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities. Going ahead, according to Shah, the zone of 57,300 - 57,400 is likely to continue to act as a crucial hurdle for the Bank Nifty index, while on the downside, the zone of 56,200 - 56,100 will act as important support as it is the confluence of the 50-day EMA and prior swing low. 'Any sustainable move below the level of 56,100 will lead to further selling pressure in the Bank Nifty index upto the level of 55,500 in the short term,' Shah said. Puneet Singhania, Director at Master Trust Group highlighted that the Bank Nifty index closed below its 21-day EMA, indicating short-term weakness. 'However, the broader trend remains positive, with the 55-day EMA holding firm near the 56,000 level and the index still trading above its ascending trendline. This suggests the current dip presents a buying opportunity. Strong support is seen at 56,000; a breach below this may lead to a decline toward 55,300. On the upside, 57,100 is the immediate resistance,' Singhania said. A breakout above this level could trigger fresh buying momentum, potentially pushing the Bank Nifty index toward 57,600 and new all-time highs, he added. Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates said that the Bank Nifty index breached its 50-DEMA support and formed a bearish candle on the daily chart, reflecting sustained selling at higher levels. 'Last week's low of Bank Nifty is placed near 56,200, which will now act as the next crucial support. Until the index decisively crosses 57,320, traders are advised to book profits on bounces and wait for a clear breakout for fresh upside momentum,' Yedve said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
