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Mint
06-07-2025
- Business
- Mint
Stocks to buy for short term: MRPL to Havells— Jigar Patel of Anand Rathi recommends 3 stock picks; do you own any?
Stocks to buy for the short term: The benchmark Nifty 50 has been rangebound in recent sessions, weighed down by the absence of fresh triggers. With lingering tariff-related uncertainties dampening risk appetite, investor attention has now shifted to the upcoming quarterly earnings season. The Nifty 50 ended with a mild gain of 0.22 per cent at 25,461 on Friday, July 4. However, the index fell by almost 1 per cent on a weekly basis. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, underscored that while the Nifty breached 25,300, it is yet to convincingly hold above 25,600. "The breakout is technically intact, but sustained trade above 25,600 is necessary for a potential rally toward 25,800–26,000," said Patel. On the other hand, Patel believes if the index breaks below 25,250 on the downside, it would invalidate the breakout and could trigger a corrective move, potentially trapping bulls. "The upcoming sessions are key to confirming follow-through. While the undertone has turned positive, markets remain vulnerable to quick shifts. Traders are advised to stay stock-specific, keep positions light, and maintain strict stop-loss discipline," said Patel. Jigar Patel recommends buying shares of MRPL, Havells and Vijaya Diagnostic Centre for the next two to three weeks. MRPL has recently established a strong base in the ₹ 135–140 zone, aligning with its previous breakout area from June 2022. This highlights a potential long-term demand zone. The daily Camarilla monthly pivot chart indicates an inside value relationship, reflecting healthy consolidation within a bullish structure. Adding to the strength, the daily RSI remains comfortably above 60, and rising volumes during the breakout further validate the upward momentum. "Considering this constructive setup, long positions are recommended in the ₹ 151–148 zone, aiming for an upside target of ₹ 170. A stop loss should be placed below ₹ 138 on a daily closing basis," said Patel. MRPL Havells has recently formed a strong base around the ₹ 1,500 level, indicating solid support at lower levels. Notably, the stock has broken above a descending trendline, signalling a potential shift in trend. It is also sustaining above mentioned trendline, further strengthening the bullish setup. Adding to this positive structure, a hidden bullish divergence is visible on the daily RSI chart, suggesting underlying momentum is building despite recent consolidation. This confluence of technical signals makes Havells an attractive buy candidate at current levels. "We recommend going long in the ₹ 1,580– ₹ 1,570 zone, with an upside target of ₹ 1,750. A stop loss should be placed below ₹ 1,500 on a daily closing basis to manage risk effectively," said Patel. Havells India Vijaya has been consolidating within the ₹ 900–1,000 range for the past two months. In the previous session, it finally broke out of this range and closed decisively above it, indicating a potential trend shift. Supporting this move, the daily Camarilla monthly pivot chart shows an overlapping higher-value relationship, reinforcing the bullish structure. Additionally, the daily RSI is comfortably placed above the 60 mark, lending further strength to the positive outlook. "Given this setup, we recommend initiating long positions in the ₹ 1,010–1,020 zone, targeting an upside towards ₹ 1,125. A stop loss should be placed below ₹ 960 on a daily closing basis," said Patel. Vijaya Diagnostic Centre technical chart Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Mint
30-06-2025
- Business
- Mint
Shares to buy for short term: NTPC to Sun Pharma— Jigar Patel of Anand Rathi recommends 3 stock picks; do you own any?
Shares to buy for the short term: The Indian stock market's benchmark, the Nifty 50, is set to extend gains into the fourth consecutive month, enduring volatility due to global turmoil. The index is set to conclude the first half of the Calendar with a decent gain of 8 per cent. Currently, the index is near 25,550, inching closer to its all-time high of 26,277, hit on September 27 last year. Experts see 25,300–25,000 as the key support range for the index, while 25,700–26,000 may act as resistance. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, pointed out that the Nifty's breakout above 25,300 comes after a month-long consolidation, signalling a potential shift in market sentiment. "Looking ahead, the 25,700–25,900 zone is likely to act as immediate resistance. A convincing breakout above this range could pave the way for a new leg higher. However, any close below 25,300 would signal a failed breakout and could warrant a return to a more defensive approach," said Patel. "While the structure now favours the bulls, some degree of caution is still warranted. We advise staying light on positions and avoiding aggressive bets until a clearer directional trend is established," Patel said. Jigar Patel recommends buying shares of NTPC, Sun Pharma and Havells for the next two to three weeks. Patel pointed out that in March 2025, NTPC gave a strong breakout above the ₹ 325 mark and rallied to test ₹ 370. Over the past three months, the stock has been in a healthy pullback phase, during which it has established a solid base near the ₹ 325– ₹ 330 zone—its previous breakout level, which is now acting as strong support. Notably, the ₹ 325 level coincides with the S3 monthly Camarilla pivot, adding further technical significance. In addition, NTPC has broken out of a descending trendline, a positive sign that suggests the corrective phase may be ending. On the daily RSI chart, the 50 level had been a major hurdle during the pullback. With the RSI now sustaining above this mark and currently placed around 53, momentum is gradually shifting back in favour of the bulls. "We recommend initiating long positions in the ₹ 340– ₹ 338 range, with an upside target of ₹ 370. A stop loss should be maintained below ₹ 322 on a daily closing basis," said Patel. NTPC technical chart Patel observed that Havells has recently formed a strong base around the ₹ 1,500 level, indicating solid support at lower levels. The stock has broken above a descending trendline, signalling a potential trend shift. It is also sustaining above the R3 monthly Camarilla pivot, further strengthening the bullish setup. Adding to this positive structure, a hidden bullish divergence is visible on the daily RSI chart, suggesting underlying momentum is building despite recent consolidation. This confluence of technical signals makes Havells an attractive buy candidate at current levels. "We recommend going long in the ₹ 1,570– ₹ 1,550 zone, with an upside target of ₹ 1,700. A stop loss should be placed below ₹ 1,490 on a daily closing basis to manage risk effectively," said Patel. Havells technical chart Patel said Sun Pharma has been consistently respecting the ₹ 1,640– ₹ 1,650 zone, which now stands out as a key support area due to multiple technical confluences. This zone aligns with a long-standing ascending trendline, the previous breakout level, the S3 monthly Camarilla pivot, and a recent Pitchfork breakout, all of which reinforce the strength of this support. Adding to the bullish case, a hidden bullish divergence has emerged on the daily RSI chart, indicating a possible continuation of the primary uptrend despite recent consolidation. "We recommend going long in the ₹ 1,690– ₹ 1,670 range. The upside target is set at ₹ 1,840, while a stop loss should be placed below ₹ 1,600 on a daily closing basis to protect against downside risk," said Patel. Sun Pharma technical chart Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Mint
16-06-2025
- Business
- Mint
Gold is nearing ₹1 lakh, but experts believe there's still room to grow
Next Story Srushti Vaidya Invest via SIPs in gold ETFs or multi-asset funds as gold is expected to rise amid global uncertainty, say experts. The yellow metal could still rise as the dollar and rupee weaken. A Gold ETF is a passive investment that tracks the price of physical gold by investing in bullion. Gift this article Mumbai: Even though gold prices hover close to ₹ 1 lakh per 10g, market experts still advise adding the yellow metal to their portfolios in an uncertain global environment through exchange-traded or multi-asset funds. Mumbai: Even though gold prices hover close to ₹ 1 lakh per 10g, market experts still advise adding the yellow metal to their portfolios in an uncertain global environment through exchange-traded or multi-asset funds. On 13 June, the price of 99.9% pure gold spiked 1.6% to ₹ 99,058 per 10g, according to the India Bullion and Jewellers Association (IBJA), after fluctuating between ₹ 95,000 and ₹ 97,000 for nearly a month. That came as Israel launched 'Operation Rising Lion' against Iran, calling it a targeted military mission to eliminate threats to its national security. Israel's Prime Minister Benjamin Netanyahu said the operation would continue until the Iranian threat is removed. A prolonged conflict will not only drive up oil prices but also slow down global trade, hurting risky assets like stocks. It's better to invest gradually, especially through gold exchange-traded funds (ETFs), which are easily available to retail investors, said Naveen Mathur, director of commodities, currencies, and international business at Anand Rathi Share and Stock Brokers. Passive investment A Gold ETF is a passive investment that tracks the price of physical gold by investing in bullion. One unit is backed by 1g of physical gold of very high purity. Such funds had ₹ 58,885 crore worth of net assets under management as of March, surging 88% over a year earlier, according to data from the Association of Mutual Funds in India (AMFI). 'A systematic investment plan (SIP), similar to how people invest in mutual funds, is a good approach—investing a fixed amount regularly," Mathur said. Ideally, gold should make up around 10% of a person's portfolio to help balance risk, he said. Also read | Investors pile into ETFs at record pace despite market turmoil Mathur said that the dollar index hovering around 98–99 reflects weakness. 'Gold usually goes up when the dollar falls. On top of that, the rupee is also weakening, which pushes gold prices even higher in India," he said. 'All these factors are keeping the gold market bullish." Others also expect the dollar to decline further. Investors could have some exposure to gold in their portfolios through ETFs or multi-asset funds in the near term, said Devang Shah, head of fixed income at Axis Mutual Fund. Further upside likely Due to global uncertainty and the possibility of the dollar falling further, gold prices could see further upside even though they've already gone up a lot in the past year or so, he said. Gold is becoming more popular as a safe investment, especially if the US dollar gets weaker, Shah said. Last year, many people believed that the US economy would stay strong and lead the world, especially after President Donald Trump got elected, but that belief has started to weaken, according to Shah. 'Trade tensions have eased, and the US is now negotiating more with other countries. At the same time, people are getting worried about the slowing US economy and its rising debt," said Shah. Gold became more attractive after Trump started the tariff war, which led to more uncertainty, according to Rajesh Rokde, chairman of the All India Gem and Jewellery Council. He also pointed to 'de-dollarization", where central banks around the world are reducing their dollar reserves and turning to gold instead. 'The US Federal Reserve has also been cutting interest rates, which means returns from banks are lower," Rokde said. 'That makes gold a better option for people looking to grow or protect their money." Topics You May Be Interested In Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Mint
15-06-2025
- Business
- Mint
Gold is closing in on ₹1 lakh. Experts suggest ETFs, multi-asset funds to add it to your portfolio
Mumbai: Even though gold prices hover close to ₹1 lakh per 10g, market experts still advise adding the yellow metal to their portfolios in an uncertain global environment through exchange-traded or multi-asset funds. On 13 June, the price of 99.9% pure gold spiked 1.6% to ₹99,058 per 10g, according to the India Bullion and Jewellers Association (IBJA), after fluctuating between ₹95,000 and ₹97,000 for nearly a month. That came as Israel launched 'Operation Rising Lion' against Iran, calling it a targeted military mission to eliminate threats to its national security. Israel's Prime Minister Benjamin Netanyahu said the operation would continue until the Iranian threat is removed. A prolonged conflict will not only drive up oil prices but also slow down global trade, hurting risky assets like stocks. Also read | Gold investment demand surges 170% in March 2025 quarter, driven by ETF inflows It's better to invest gradually, especially through gold exchange-traded funds (ETFs), which are easily available to retail investors, said Naveen Mathur, director of commodities, currencies, and international business at Anand Rathi Share and Stock Brokers. Passive investment A Gold ETF is a passive investment that tracks the price of physical gold by investing in bullion. One unit is backed by 1g of physical gold of very high purity. Such funds had ₹58,885 crore worth of net assets under management as of March, surging 88% over a year earlier, according to data from the Association of Mutual Funds in India (AMFI). 'A systematic investment plan (SIP), similar to how people invest in mutual funds, is a good approach—investing a fixed amount regularly," Mathur said. Ideally, gold should make up around 10% of a person's portfolio to help balance risk, he said. Also read | Investors pile into ETFs at record pace despite market turmoil Mathur said that the dollar index hovering around 98–99 reflects weakness. 'Gold usually goes up when the dollar falls. On top of that, the rupee is also weakening, which pushes gold prices even higher in India," he said. 'All these factors are keeping the gold market bullish." Others also expect the dollar to decline further. Investors could have some exposure to gold in their portfolios through ETFs or multi-asset funds in the near term, said Devang Shah, head of fixed income at Axis Mutual Fund. Further upside likely Due to global uncertainty and the possibility of the dollar falling further, gold prices could see further upside even though they've already gone up a lot in the past year or so, he said. Gold is becoming more popular as a safe investment, especially if the US dollar gets weaker, Shah said. Last year, many people believed that the US economy would stay strong and lead the world, especially after President Donald Trump got elected, but that belief has started to weaken, according to Shah. 'Trade tensions have eased, and the US is now negotiating more with other countries. At the same time, people are getting worried about the slowing US economy and its rising debt," said Shah. Also read | As gold prices fall, is this the right time to invest in gold ETFs? For over a year now, gold prices have been rising amid global uncertainty. The previous metal has spiked 38.3% on the MCX in the past year. Gold became more attractive after Trump started the tariff war, which led to more uncertainty, according to Rajesh Rokde, chairman of the All India Gem and Jewellery Council. He also pointed to 'de-dollarization", where central banks around the world are reducing their dollar reserves and turning to gold instead. 'The US Federal Reserve has also been cutting interest rates, which means returns from banks are lower," Rokde said. 'That makes gold a better option for people looking to grow or protect their money."
Mint
19-05-2025
- Business
- Mint
Stocks to buy for short term: From Cyient to Tata Tech— Jigar Patel of Anand Rathi suggests 3 stock picks
Stocks to buy for short term: Easing geopolitical tensions, foreign capital inflow and better-than-expected Q4 earnings kept the Indian stock market up last week. The benchmark Nifty 50 rose over 4 per cent for the week ended May 16, reclaiming the 25,000 mark. On Monday, however, the index traded lacklustre in the morning session. Around 10:30 AM, it was 14 points up at 25,034. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, pointed out that since the April 2025 low of 21,800, the Nifty 50 has surged nearly 3,300 points with minimal retracement — a strong uptrend powered by renewed FII inflows and calming global cues. Patel further said that on the technical front, a bullish golden crossover has been confirmed on the daily chart, where the 50-DEMA has crossed above the 200-DEMA — a long-term positive signal. However, Patel emphasised that such crossovers often see brief mean reversions before the larger trend resumes. He said currently, both moving averages lie between 23,500 and 23,800 — levels that may be retested if the market cools off. "The Nifty 50 is now testing the 161.8 per cent Fibonacci extension of the previous move — a classic golden ratio that could act as near-term resistance. With this, we expect 25,300 to act as an immediate hurdle. A failure to sustain above this level may trigger some profit-booking," said Patel. "On the downside, support is seen in the 24,800–24,500 zone. Traders are advised to tighten stop losses, avoid aggressive longs at current levels, and look for opportunities on dips to enter fresh positions," Patel said. Jigar Patel recommends buying shares of Cyient, Tata Technologies and JSW Energy for the next two to three weeks. Cyient is approaching a significant technical inflection point, where a convergence of multiple technical factors suggests a potential trend reversal. One of the most critical signals is the alignment with a 34-week time cycle—a key Fibonacci number often associated with major turning points in harmonic trading. This temporal synchronisation adds weight to the possibility of a directional change. Supporting this, Fibonacci ratio analysis of two corrective price legs—one falling 32.18 per cent (A to B) and the other 49.43 per cent (C to D)—reveals a compelling harmonic relationship. The ratio of 49.43/32.18 yields 1.536, which is close to the Golden Ratio of 1.618, while the inverse yields 0.651, approximating the key 0.618 level—both central to harmonic analysis. Further reinforcing this view is the price symmetry: the absolute drop from A to B is ₹ 778.75, while the drop from C to D is ₹ 1059.55, giving ratios of approximately 1.36 and 0.734, closely matching √1.618 (1.27) and √0.618 (0.786), respectively. These findings indicate a structurally sensitive zone where the price may stabilise or reverse. On the daily chart, the stock has completed a bullish inverse head and shoulders pattern and confirmed a breakout—a classic reversal signal in technical analysis. "Considering this strong confluence of time, price, and pattern structure, a long position is advisable in the ₹ 1,280– ₹ 1,300 range, targeting ₹ 1,600, with a stop loss at ₹ 1,150. The setup offers an attractive risk-reward ratio, underpinned by solid harmonic and structural evidence," said Patel. Cyient stock technical chart Tata Technologies is approaching a critical technical juncture marked by the confluence of key time cycles and Fibonacci ratios, suggesting a potential trend reversal. The ongoing setup aligns with a 35–36-week time cycle, which is closely related to the Fibonacci number 34—a level often linked to cyclical market turning points. Analysing the corrective structure, the stock witnessed a 30 per cent drop from point A to B, followed by a steeper 47.45 per cent correction from C to D. The ratio of these moves stands at 1.58, nearly matching the Golden Ratio (1.618), while the inverse, 0.632, closely approximates its reciprocal (0.618). Examining price symmetry, the decline from A to B amounted to ₹ 416.60, while the C–D leg corrected by ₹ 539, yielding a ratio of around 1.27, equivalent to the square root of 1.618. This move also aligns with the 0.786 retracement level, which is the square root of 0.618, enhancing the harmonic confluence. 'Given this strong technical setup, a long position is recommended in the ₹ 735– ₹ 750 zone, with an upside target of ₹ 825 and a stop loss at ₹ 695 on a daily closing basis,' said Patel. Tata Technologies stock technical chart JSW Energy has recently formed multiple bottoms in the ₹ 420– ₹ 460 range, indicating a strong support zone. This area also aligns with the 61.8 per cent Fibonacci retracement of the entire rally from February 2023 to September 2024, adding technical significance. Additionally, a bullish divergence is visible on the daily RSI, and the stock has broken a prevailing bear trendline, reinforcing the potential for upward momentum. "Based on this confluence of signals, a long position is recommended in the ₹ 500– ₹ 505 zone. The upside target is ₹ 575, with a stop loss placed below ₹ 475 on a daily closing basis to manage risk effectively," said Patel. JSW Energy stock technical chart Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
