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Economic Times
25 minutes ago
- Economic Times
Why did RIL's shares plummet despite analysts' positive projections?
Jani said Q1 results for O2C and retail businesses were below market expectations, while telecom unit results were in line with expectations. Synopsis Reliance Industries' shares experienced a decline of over 3% on Monday. This followed the release of Q1 earnings that were lower than anticipated. Investors reacted to the results and a deferred IPO plan. Despite the dip, brokerages maintain a positive outlook on the company. They foresee potential growth triggers in the near future. Mumbai: Shares of Reliance Industries dropped over 3% on Monday as investors weighed the conglomerate's lower-than-expected Q1 earnings against analysts' positive outlook on stock after results. Stock ended at ₹1,428.6 on Monday, down 3.2%, capping gains in Sensex and Nifty, which ended 0.5% higher. ADVERTISEMENT "Reliance shares had recently rallied on expectations of strong quarterly results and a potential IPO announcement for its telecom business," said Sumit Pokharna, VP, fundamental research, Kotak Securities. "But, the management's clarification the IPO is deferred to next year had earlier led to some correction, and combined with results below Street estimates, we saw some profit-booking." The stock has gone up about 17% so far this year, against Nifty's 5.7% gains. PAT in June quarter stood at ₹30,681 crore, up 36.8% from January-March. Its revenues from operations stood at ₹2,48,660 crore, down 6% from previous quarter. It had recorded a one-time gain from selling its stake in Asian Paints for nearly ₹8,900 crore. Brokerages remain positive on company, with most retaining 'buy' and 'add' ratings post results. Price targets imply an upside of 8-19% from current levels. "We see 3 growth triggers for RIL in near term: scale-up of new energy business; Jio tariff hikes; and potential IPO/listing for Jio which has now been pushed beyond 2025," said Nomura. The stock may underperform in near term. "In absence of clear catalysts, stock may remain a laggard," said Hemang Jani, director at Finazenn. Jani said Q1 results for O2C and retail businesses were below market expectations, while telecom unit results were in line with expectations. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Mint
25 minutes ago
- Mint
Best stock recommendations today: MarketSmith India's top picks for 22 July
On 21 July, Indian equity benchmarks ended on a strong note with the Nifty closing at 25,090.70, up 122.30 points or 0.49%. The index snapped a two-day losing streak and reclaimed 25,000 in a volatile session, supported by strength in auto, realty, metal, and private banking stocks. Despite slipping below 24,900 for the first time since 23 June during early trade, the index staged a smart recovery and ended near the day's high, reflecting renewed investor confidence. Two stock recommendations for today by MarketSmith India How Nifty 50 performed on 21 July Nifty 50 rebounded on 21 July, gaining 0.49% after a two-day decline and successfully defending the key support level of 24,900, which aligns with its 50-day EMA. After early volatility, the index gained momentum and maintained a positive bias throughout the day, ending 122 points higher at 25,091. On the daily chart, it formed a bullish candle with a lower shadow, signaling a pullback after briefly breaching the 25,000 support level in the previous session. The initial reaction to earnings from heavyweights such as Reliance, ICICI Bank, and HDFC Bank triggered sharp intraday swings. However, renewed buying in key index constituents during the final hours lifted Nifty 50 to near the session's high at 25,090.70. The index reclaimed both its 50-DMA and the key psychological level of 25,000, signaling a potential shift in sentiment. The intraday reversal pattern, along with the formation of a bullish candle near the 50-day SMA, suggests that the ongoing pullback may continue in the near term. On the daily chart, the relative strength index (RSI) has turned upward and is approaching 48, showing signs of a reversal. However, the daily MACD remains in a downtrend with a negative crossover above the zero line, showing that bearish undertones persist. According to O'Neil's methodology of market direction, the market status has been downgraded to an 'uptrend under pressure' as Nifty breached its 50-DMA and the distribution day count rose to five. The index managed to reclaim its 50-DMA in the final hour, offering some relief to investors. However, to regain bullish momentum, a decisive breakout and sustained close above 25,300 are crucial. On the downside, if the index fails to hold above 24,900, it could decline further toward the 24,750 and 24,500 support levels in the coming sessions. How did Nifty Bank perform? Nifty Bank opened on a positive note and maintained its strength for most of the session, snapping its two-day losing streak. The index rebounded from its 50-DMA and reclaimed the 21-DMA, reflecting a positive bias. Notably, it formed a bullish candlestick on the daily chart, characterised by a higher-high and higher-low price structure, indicating renewed buying interest. The momentum indicator, RSI, has edged higher and now stands at 54, signaling a mild improvement in underlying strength. Meanwhile, the MACD has recorded a negative crossover yet continues to trade above the zero line, suggesting that while the broader trend remains constructive, investors may consider exercising caution and awaiting stronger confirmation before anticipating a sustained bullish move. According to O'Neil's methodology of market direction, Bank Nifty remains in a 'confirmed uptrend', a status it has maintained over the past few weeks. Nifty Bank has rebounded from its 50-DMA and reclaimed the 21-DMA, signaling a potential shift in momentum. Should this positive breakout continue, the index may gradually advance toward its recent high of 57,628 in the coming sessions. On the downside, 56,600–56,500 serves as a crucial support area, expected to cushion near-term declines. Close monitoring of these technical levels remains essential for effective risk management and tactical positioning. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 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.
Mint
25 minutes ago
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 22 July
On Monday, the Nifty 50 rose 122.3 points or 0.49%, closing at 25,090.70, while the BSE Sensex gained 442.61 points or 0.54% to settle at 82,200.34. The Bank Nifty also closed higher, advancing 578.40 points or 1.03%, as financial stocks attracted strong buying interest through the session. Top 3 stocks recommended by Ankush Bajaj for 22 July: Adding to the bullish case, the stock hasbroken out of a triangle pattern on lower timeframes, projecting an upside target of ₹940+. This technical breakout, combined with strong momentum indicators, suggests continuation of the current rally. Buy: Ambuja Cements Ltd — Current Price: ₹613.25 This technical breakout aligns with strengthening momentum indicators, suggesting that the stock is gearing up for a fresh leg of upside. The structure looks poised for continuation, especially if broader sentiment remains stable. Buy: Mahindra & Mahindra Ltd — Current Price: ₹3,246.70 This breakout from a flag formation confirms the resumption of the prior uptrend. With momentum and price action aligned, the stock appears well-positioned for further upside. Market Wrap On Monday, 21 July 2025, Nifty 50 rose by 122.3 points or 0.49%, closing at 25,090.70, while the BSE Sensex gained 442.61 points or 0.54% to settle at 82,200.34. The Bank Nifty also closed higher, advancing 578.40 points or 1.03% to finish at 56,994.00, as financial stocks attracted strong buying interest throughout the session. Sectorally, the market exhibited a mixed but encouraging tone. The oil and gas sector declined 1.09%, PSU banks dipped 0.62%, and FMCG slipped 0.50% — largely due to profit booking. However, rotational flows found their way into stronger themes, with the finance sector climbing 1.62%, the banking index rising 1.19%, and the services sector advancing 1.08%, offering support to the broader market. Nifty Technical Analysis Daily & Hourly The Nifty ended Monday's session on a positive note, closing at 25,090.70, up 122.30 points or 0.49 percent, staging a strong recovery after opening on a flat-to-negative note. The index posted a one-sided uptrend throughout the session and managed to close near the day's high, reclaiming the key 25,000 psychological mark, which now acts as an immediate support zone. From a technical standpoint, Nifty is currently trading above its 40-day exponential moving average (25041) but still below the 20-day simple moving average, which now stands at 25,324. This configuration indicates that while some short-term relief has come in, the upside may remain limited unless the index decisively crosses and sustains above the 20-DMA. On the hourly chart, the index is trading marginally above its 20-hour SMA (25114) and 40-hour EMA (25054), showing initial signs of intraday recovery but also highlighting a cluster of near-term resistances that need to be cleared to confirm a sustained breakout. Momentum indicators are signaling a cautiously optimistic outlook. The daily Relative Strength Index (RSI) has improved slightly to 47, indicating stabilization in trend, while the hourly RSI is at 51, reflecting improved intraday strength. However, the daily MACD has slipped to +26, showing weakening momentum compared to previous sessions, and the hourly MACD remains in negative territory at –27, which suggests that short-term momentum is still not fully aligned with the bullish reversal. The options data paints a mixed picture. Total Call open interest stands at 13.67 crore, while Put open interest is at 11.76 crore, resulting in a net difference of –1.91 crore, which still reflects a bearish bias in positioning. The highest Call OI lies at the 26,000 strike, with maximum additions at the 25,600 level, indicating a strong overhead resistance zone. On the Put side, the highest open interest stands at 25,000, while the maximum additions came at the 25,100 strike, suggesting traders are placing bets that the 25,000 mark will hold as strong support. Importantly, the intraday changes in open interest show that Call OI rose by only 45.61 lakh, while Put OI saw a significant increase of 3.99 crore, resulting in a net change of +3.54 crore — a shift that indicates bullish sentiment building at current levels. While the overall OI structure remains technically bearish, the sharp increase in Put writing and reduced call additions reflect a bullish shift in short-term expectations. India VIX data was not significantly updated in this session, but the recent reading of 11.39 suggests that volatility remains subdued, keeping risk appetite in check and favoring directional trades. In summary, after multiple failed attempts, Nifty has managed to reclaim the 25,000 level, supported by improved intraday momentum and fresh Put writing in the derivatives segment. The immediate hurdle lies at the 25,150–25,324 zone, beyond which a further move toward 25,500–25,600 could unfold. On the downside, the 25,000–24,950 band will now act as a crucial support range. A decisive break below this level could revive selling pressure and bring the 24,700 level back into focus. Until the index crosses above 25,324, the broader structure remains neutral with a slight positive bias. Traders are advised to remain cautiously optimistic, avoiding aggressive longs until a clean breakout above resistance is confirmed. 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.
