Latest news with #Fibonacci


Mint
5 hours ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 1 after Wall Street rally
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Tuesday, tracking mixed global market cues. The trends on Gift Nifty also indicate a flattish start for the Indian benchmark index. The Gift Nifty was trading around 25,630 level, a premium of nearly 15 points from the Nifty futures' previous close. On Monday, the domestic equity market benchmark indices ended its four-day gaining streak to close lower amid profit booking. The Sensex dropped 452.44 points, or 0.54%, to close at 83,606.46, while the Nifty 50 settled 120.75 points, 0.47%, lower at 25,517.05. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sensex formed a bearish candle on daily charts, indicating temporary weakness. 'The short-term market outlook remains positive. We believe that 83,500 will act as a key level to watch. Below 83,500, we could see a further correction towards 83,200 - 83,000. On the flip side, a sustained move above 83,500 could push Sensex up to 83,900. Further upside may also continue, potentially lifting the index to 84,200,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Nifty 50 declined 120.75 points, and formed a bearish engulfing pattern on the daily chart. 'The broader setup remains encouraging as Nifty 50 comfortably holds above the 9-day and 20-day EMAs, both of which continue to slope upward, highlighting the strength of the prevailing trend. The index witnessed a mild pullback from the upper resistance zone near 25,660 – 25,685, aligning with the 161.8% Fibonacci retracement. The daily RSI for Nifty 50 has eased slightly to 63, remaining in a healthy zone, which suggests that momentum remains intact without any signs of exhaustion,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, the support is now seen at 25,350 – 25,300, a zone that previously acted as a breakout area and now stands as a re-entry level for fresh accumulation. Unless this level is breached decisively, he believes any short-term pullback may provide a buying opportunity. 'With the higher-high formations remaining intact and no major breakdown signs, the outlook remains positive as we enter the July series. A sustained move above 25,700 could reignite bullish momentum, with the next upside levels up to 25,900 - 25,970,' Mehra said. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 has closed below the upper Bollinger band indicating a pause in the rally at the current levels. 'The pause can likely be the profit booking after a breakout from the 25,200 levels. The index closing above day's low is a clear sign of a further rally. The ADX DI+ line is sloping downside and the ADX DI- line sloping upside, indicating signs of weakness in the index, in yesterday's fall. The momentum indicators are in the over-bought region which can also be the reason for the fall,' said Dwarakanath. According to VLA Ambala, Co-Founder of Stock Market Today, the Nifty 50 index formed a bearish engulfing pattern on the daily chart, while its RSI at 62. 'This movement suggests moderate buying opportunities on dips. However, it is best to avoid selling on rises until we reach a fresh high, as the major trend remains bullish, and Nifty 50 is just 3% away from its all-time high. I recommend adopting neutral trading strategies in index derivatives for a couple of days. We can expect Nifty 50 to find support between 25,300 and 25,200, and meet resistance near 25,650 and 25,870 in today's trading session,' Ambala said. Bank Nifty index ended 131.15 points, or 0.23%, lower at 57,312.75, forming a narrow-bodied bearish candle on the daily chart, reflecting mild profit booking at elevated levels. 'Despite the minor pullback, the Bank Nifty index maintained a higher high–higher low formation, suggesting a phase of time-wise consolidation amidst stock-specific traction. The index is currently perched above its immediate support zone of 57,000 – 56,800. Sustaining above this demand zone will keep the short-term bias constructive, paving the way for a potential move towards 58,500 — a level derived from the measured move projection of the recent consolidation band between 56,000 and 53,500,' said Bajaj Broking Market. Conversely, a breach below 56,800 may trigger a corrective consolidation of the recent upswing, with the index likely oscillating within a broader consolidation zone of 56,000 – 57,600, said the brokerage firm. 'Structural support is recalibrated to the 56,000 – 55,800 region, representing a confluence of key technical indicators — including the 50-day EMA and the 61.8% Fibonacci retracement of the recent rally (55,149 - 57,614),' Bajaj Broking Market added. Om Mehra highlighted that the Bank Nifty index is holding firmly above all the short and medium-term moving averages, and its rise is offering support to the ongoing uptrend. The slope of the Bollinger Band has turned upward, suggesting expansion in price range and rising volatility. 'The daily RSI stands at 66, hovering below the key 70 mark, reflecting a strong, yet not overheated momentum. Meanwhile, the MACD has entered positive territory, supported by an advancing histogram. The index may see a shallow retracement toward the 57,000 - 56,800 zone, which is expected to act as immediate support. Any dip toward this zone is likely to attract fresh buying interest as long as the structure remains above 56,300 on a closing basis,' Mehra said. With the broader participation from PSU banks and a strong setup in momentum indicators, the bullish tone stays intact in Nifty Bank index. A decisive close above 57,620 could pave the way for a fresh leg towards higher levels at 58,200 and beyond, he added. 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.


Mint
21 hours ago
- Business
- Mint
Stock to buy under ₹100: Anand Rathi sees 18% upside in this NBFC share. Should you buy?
Shares of Capital India Finance Ltd (CIFL), a mid-tier non-banking financial company (NBFC), could be headed for a sharp upward move, according to a recent technical report by Anand Rathi. The brokerage has issued a bullish call on the counter, projecting an upside of 18 percent in the near term, supported by a favorable technical setup and improving momentum indicators. CIFL is currently trading near the ₹ 40 level, having recently corrected nearly 18 percent from its recent peak in the ₹ 44–45 zone. Anand Rathi highlighted that the stock has successfully tested the 61.8 percent Fibonacci retracement level, which closely aligns with the monthly S1 floor pivot. This convergence of support zones around the ₹ 38–40 band suggests a potential base formation, presenting a strong risk-reward trade opportunity. The brokerage has recommended accumulating the stock in the ₹ 38–40 range, with a target price of ₹ 46, implying an upside of over 18 percent from current levels. A stop-loss has been suggested at ₹ 35 on a daily closing basis, making the risk-reward ratio favourable for short-term traders. On the fundamental side, CIFL continues to show signs of stable growth. As per the company's March 2025 data, Assets Under Management (AUM) reached ₹ 10.04 billion, a 7 percent increase from ₹ 9.35 billion in March 2024. This milestone marks a key achievement in CIFL's journey as a focused lender to India's underserved micro, small and medium enterprise (MSME) segment. Of the total AUM, a significant 84 percent is secured lending, underscoring the company's cautious underwriting strategy. The remaining 16 percent constitutes unsecured loans. The company reported a net Non-Performing Asset (NPA) ratio of just 0.98 percent, indicating strong asset quality. Meanwhile, its Capital Adequacy Ratio stood at 36.08 percent, while the debt-to-equity ratio remained moderate at 1.06x, suggesting room for expansion without compromising financial stability. Commenting on the company's future plans, CEO Pinank Shah noted, 'The sale of Capital India Home Loans will help sharpen our focus on MSME lending. With a sound framework now in place, we expect to see results from FY26 onwards. Our aim is to grow our branch network to 100 locations over the next two years.' Capital India Finance has delivered strong returns over the past year, rising over 94 percent. The stock has rebounded well in recent months—gaining 11 percent in June alone, after a 21 percent rally in April. May was relatively muted with a 1 percent decline, but earlier months had seen weakness, with the stock falling 6.7 percent in March, 8.5 percent in February, and 3 percent in January. At current levels, CIFL remains well below the ₹ 100 mark, making it a notable pick in the under- ₹ 100 segment. For retail investors looking for NBFC exposure in a smallcap format, the combination of improving technical indicators and stable business performance may offer an attractive entry point.


Mint
a day ago
- Business
- Mint
Stock to buy under ₹100: Anand Rathi sees 18% upside in this NBFC share. Should you buy?
Shares of Capital India Finance Ltd (CIFL), a mid-tier non-banking financial company (NBFC), could be headed for a sharp upward move, according to a recent technical report by Anand Rathi. The brokerage has issued a bullish call on the counter, projecting an upside of 18 percent in the near term, supported by a favorable technical setup and improving momentum indicators. CIFL is currently trading near the ₹ 40 level, having recently corrected nearly 18 percent from its recent peak in the ₹ 44–45 zone. Anand Rathi highlighted that the stock has successfully tested the 61.8 percent Fibonacci retracement level, which closely aligns with the monthly S1 floor pivot. This convergence of support zones around the ₹ 38–40 band suggests a potential base formation, presenting a strong risk-reward trade opportunity. The brokerage has recommended accumulating the stock in the ₹ 38–40 range, with a target price of ₹ 46, implying an upside of over 18 percent from current levels. A stop-loss has been suggested at ₹ 35 on a daily closing basis, making the risk-reward ratio favourable for short-term traders. On the fundamental side, CIFL continues to show signs of stable growth. As per the company's March 2025 data, Assets Under Management (AUM) reached ₹ 10.04 billion, a 7 percent increase from ₹ 9.35 billion in March 2024. This milestone marks a key achievement in CIFL's journey as a focused lender to India's underserved micro, small and medium enterprise (MSME) segment. Of the total AUM, a significant 84 percent is secured lending, underscoring the company's cautious underwriting strategy. The remaining 16 percent constitutes unsecured loans. The company reported a net Non-Performing Asset (NPA) ratio of just 0.98 percent, indicating strong asset quality. Meanwhile, its Capital Adequacy Ratio stood at 36.08 percent, while the debt-to-equity ratio remained moderate at 1.06x, suggesting room for expansion without compromising financial stability. Commenting on the company's future plans, CEO Pinank Shah noted, 'The sale of Capital India Home Loans will help sharpen our focus on MSME lending. With a sound framework now in place, we expect to see results from FY26 onwards. Our aim is to grow our branch network to 100 locations over the next two years.' Capital India Finance has delivered strong returns over the past year, rising over 94 percent. The stock has rebounded well in recent months—gaining 11 percent in June alone, after a 21 percent rally in April. May was relatively muted with a 1 percent decline, but earlier months had seen weakness, with the stock falling 6.7 percent in March, 8.5 percent in February, and 3 percent in January. At current levels, CIFL remains well below the ₹ 100 mark, making it a notable pick in the under- ₹ 100 segment. For retail investors looking for NBFC exposure in a smallcap format, the combination of improving technical indicators and stable business performance may offer an attractive entry point. 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.


Hans India
3 days ago
- Business
- Hans India
Nifty, Bank Nifty Futures signal strong upside as bulls take charge
Nifty 50 and Nifty Bank indices surged 2.1% each last week, supported by strong futures and options (F&O) data that signals sustained bullish sentiment. Nifty 50 Futures Outlook Nifty July futures closed at 25,750, posting a 2.2% weekly gain. This rally was backed by a sharp rise in open interest, which more than doubled to 151 lakh contracts—indicating a fresh long build-up. The July Put-Call Ratio (PCR) stands at 1.20, while the August contract is at 1.30. A PCR above 1 suggests stronger put writing activity, a common sign of bullishness. From a technical standpoint, Nifty July futures broke out above the resistance at 25,400, confirming bullish momentum. The next target is 26,500, and if this level is breached, a further rally to 27,000 is likely. Support Levels: 25,400 (immediate) 25,150 (21-day moving average) Strategy: Continue holding long positions in Nifty July futures with a stop-loss at 25,300. If the contract crosses 26,000, raise the stop-loss to 25,700 and book profits at 26,500. Nifty Bank Futures Outlook Bank Nifty July futures ended at 57,648, also up by 2.1% last week. Open interest jumped fivefold to 23 lakh contracts, confirming strong long positions. PCR readings for July and August are 1.10 and 2.20 respectively—both pointing to a bullish stance. However, the contract is nearing a resistance zone between 57,800 and 58,000. If there's a pullback, 57,000 can act as a buying opportunity before another upward move begins. A breakout above 58,000 can take the contract to 60,000. While 59,000 might be a minor hurdle, the current momentum suggests it could be crossed smoothly. Support Levels: 56,800 (23.6% Fibonacci retracement) 56,300 (next key support) Strategy: Exit the long position (initiated at 56,330) around current levels due to nearby resistance. Re-enter only on: A breakout above 58,000 – Buy with a target of 60,000 and stop-loss at 57,000 A dip to 57,000 – Buy with a stop-loss at 56,300, and same target of 60,000 Options Strategy: Exit the 58,000 Call (bought at ₹397) at current ₹706 levels. Consider buying an at-the-money call again on a breakout above 58,000 or a dip to 57,000. Both indices show bullish setups backed by F&O data, but traders should watch key levels closely for confirmation before entering fresh positions.


Time of India
4 days ago
- Business
- Time of India
73% down and still no bottom! Will Ola Electric break Rs 38 and slide to Rs 31?
Ola Electric shares have plunged over 73% from their all-time high of Rs 157.5 in August 2024. On June 26, the stock hit a fresh low of Rs 43.02, with technical indicators suggesting further downside unless key support levels hold. According to Amit Trivedi, Vice President and Technical Analyst at YES SECURITIES, the stock continues to trend lower without any meaningful recovery. 'It is down nearly 50% so far in 2025 and still lacks stability. Due to oversold conditions on short-term charts, a minor recovery is possible; however, a major upside is unlikely. Eventually, a further decline towards Rs 39 is expected,' he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 30초 비교 견적, 4번의 클릭으로 최저가 견적 상담 받으세요 8zero렌트 더 읽기 Undo The selling pressure has been persistent, with Ola Electric currently trading below key moving averages. Mandar Bhojane, Equity Research Analyst at Choice Equity Broking, noted, 'The stock faced strong resistance near Rs 55 and has slipped below the crucial Rs 45 support level, indicating growing weakness. It's trading below its 20-day, 50-day, and 200-day EMAs, and the RSI has dropped to 28.87 — firmly in the oversold zone.' Bhojane sees the Rs 40–38 range as a crucial support band aligned with key Fibonacci levels. A breakdown below this could open the gates for a slide to Rs 35–31. On the upside, the stock would need to decisively break above Rs 45.30–47.87 for any sustained recovery. Adding to the negative sentiment, Kunal Kamble, Senior Technical Research Analyst at Bonanza, pointed out that Ola Electric recently broke down from a descending triangle pattern—a bearish formation. 'The stock saw two sessions of sharp selling, but the aggression has eased in the last few sessions, with muted volumes. This indicates a temporary pause or consolidation. The RSI is flattening in the oversold zone, suggesting a loss of momentum,' he explained. Live Events However, Kamble cautioned against initiating fresh short positions for now, suggesting that any bounce could be a selling opportunity given the broader bearish structure. He pegs immediate support between Rs 42.40 and Rs 38.90, with resistance near Rs 45.27–46.22. Block Deals, Earnings, and Sentiment Pressure While technicals remain the focus, recent corporate and social developments have also weighed on investor sentiment. On June 25, 0.8% of the company's equity changed hands via block deals. Just weeks earlier, Hyundai Motor Company reportedly sold shares worth Rs 731 crore in a bulk deal, offloading 3.23% of the company's equity at Rs 51.40 per share—a move interpreted by some as a sign of waning confidence from a strategic investor. The stock's fall also follows weak Q4 FY25 results. Ola Electric reported a net loss of Rs 870 crore, more than double the Rs 416 crore loss a year ago. Revenue fell 62% year-on-year to Rs 611 crore as deliveries slumped to 51,375 units. Consolidated EBITDA margin dropped to -101.4%, though gross margins improved slightly due to higher sales of Gen-3 vehicles. Sentiment further worsened after a public spat on social media between CEO Bhavish Aggarwal and comedian Kunal Kamra, with the latter highlighting service complaints from customers. The incident drew criticism toward Aggarwal's response, adding to the company's image woes. What's Next for Traders? With the stock now hanging around critical support, traders are watching the Rs 38 level closely. A hold at this level could lead to a short-term bounce. But if it breaks decisively, analysts warn that Ola Electric may slide further to the Rs 35–31 zone. Until signs of a confirmed reversal emerge, analysts suggest caution. The broader trend remains bearish—for now, the bulls remain on the back foot. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)