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Mint
7 hours ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 23 after Nikkei, Hang Seng rally
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Wednesday, tracking a rally in global markets. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,158 level, a premium of nearly 65 points from the Nifty futures' previous close. On Tuesday, the domestic equity market ended flat with negative bias amid high volatility, with the benchmark Nifty 50 holding above 25,000 level. The Sensex eased 13.53 points, or 0.02%, to close at 82,186.81, while the Nifty 50 settled 29.80 points, or 0.12%, lower at 25,060.90. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex is still holding a lower top formation on daily charts and has also formed a bearish candle, which indicates temporary weakness. 'We believe that the current market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders. For traders, the 82,200 mark or the 50-day SMA (Simple Moving Average) would be the key support zone. As long as Sensex trades above this level, a pullback formation is likely to continue. On the higher side, 82,800 and the 20-day SMA or 83,100 would be the key resistance areas for the bulls,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. On the flip side, a breach of 82,200 could push Sensex towards 81,900, and further downside may also continue, which could drag the index down to 81,500. On the derivatives front, the highest Call Open Interest (OI) for Nifty is seen at the 25,100 strike, followed by 25,200, indicating potential resistance at these levels. On the Put side, the highest OI is placed at 25,000, followed by 24,900, highlighting strong support zones. This OI setup indicates that the 25,000 – 25,200 range will be crucial for Nifty's near-term directional move, with traders closely watching for a breakout or breakdown from this zone, said Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking. Nifty 50 formed a bearish candle on the daily chart, with a large body and minor wicks on the higher and lower sides, reflecting a lack of follow-through strength. 'A reasonable negative candle was formed on the daily chart at the highs which indicates lack of strength in the market to sustain the highs. Nifty 50 reversing down after one day of bounce back is not a good sign. Smaller degree bearish pattern like lower highs and lows continued on the daily chart and the Nifty 50 seems to have reversed down after a small lower high at 25,182 on Tuesday,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the underlying trend of Nifty 50 continues to be weak amidst choppy movement. 'Having rejected the hurdle of 25,200, the chances of Nifty 50 sliding below 24,900 is likely in the coming session. On such an event, the downside target could open around 24,500 for the coming weeks. Immediate resistance is placed at 25,200,' said Shetti. Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities noted that in the last six trading sessions, the Nifty 50 has failed to sustain above its 20-day EMA on four occasions, highlighting strong overhead supply at crucial moving average. 'For any meaningful upside to unfold, a decisive and sustained move above the 20-day EMA will be crucial. The momentum indicators and oscillators are suggesting sideways action. Going ahead, the 20-day EMA zone of 25,170 - 25,200 will act as an immediate hurdle for the index. Any sustainable move above the level of 25,200 will lead to a sharp upside rally upto the 25,350 level. While on the downside, the zone of 24,980 - 24,950 will act as crucial support for the index,' Shah said. VLA Ambala, Co-Founder of Stock Market Today said that the Nifty 50 index formed a bearish marubozu candlestick pattern on the daily time frame, suggesting strong selling pressure and a potential downward trend. 'We can expect Nifty 50 to find support between 24,950 and 24,800, and meet resistance near 25,150 and 25,270 in today's trading session,' Ambala said. Bank Nifty index declined 196.75 points, or 0.35%, to close at 56,756.00 on Tuesday, forming a dark cloud cover pattern on the daily chart. 'Bank Nifty index closed below the 20-day EMA, signalling short-term weakness, however still holding above the 50-day SMA, which offers interim support near 56,200. The RSI stands at 51.48 and has started to diverge negatively from recent highs, indicating that strength is fading. The MACD skewed on the lower side, suggesting the slowing momentum. The daily Super trend support is placed around 55,800, and any breakdown below this zone could add further weakness to the ongoing consolidation,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, until Bank Nifty reclaims 57,300 on a closing basis, upside moves may remain limited. The bullish momentum seems to be waning; a cautious stance would be preferred in the short term. Going ahead, Sudeep Shah believes the zone of 57,200 - 57,300 will act as an important hurdle for the Bank Nifty index, while on the downside, the zone of 56,400 - 56,300 will act as crucial support. 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.
Time of India
a day ago
- Business
- Time of India
Paytm stock rallies 122% in one year but still 53% below issue price. Can it reclaim its IPO glory?
Technical outlook positive Live Events Q1 earnings could be a turning point Can Paytm reclaim its IPO highs? (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of fintech major Paytm (One 97 Communications) have surged 122% over the past 12 months, driven by sustained bullish momentum and improving investor sentiment. Despite the strong recovery, the stock still trades 53% below its IPO issue price of Rs 2,150 – raising the question: Can Paytm reclaim its IPO-era highs?Currently hovering around Rs 1,018, the stock has shown signs of a technical breakout, supported by a consistent pattern of higher highs and higher lows (HH–HL) on the charts. Technical analysts believe the upcoming June quarter results, due today, July 22, could be a key trigger for further Vithlani, Technical Research Analyst at Bonanza Portfolio, said Paytm is approaching a crucial resistance zone of Rs 1,020–1,030, where it had faced sharp selling pressure in December 2024. 'The stock has been consistently forming a higher highs–higher lows (HH–HL) structure, which indicates a sustained uptrend,' he advised existing holders to maintain a stop-loss at Rs 980 and continue holding, provided the stock sustains above the breakout zone with supportive volumes. 'Traders should adopt a wait-and-watch approach ahead of the earnings event.'Hardik Matalia, Derivative Analyst at Choice Broking, said Paytm is showing strong bullish momentum after a consolidation phase. 'There is a Cup and Handle pattern on the weekly chart and an Inverted Head and Shoulders on the monthly — both are bullish continuation setups that suggest potential for a move toward Rs 1,700,' he also highlighted the stock's strength across timeframes: 'Paytm is comfortably trading above its 20-, 50-, 100-, and 200-day EMAs, and the RSI at 65.86 is trending upwards.' For short-term traders, Matalia suggests using Rs 980 as support and Rs 940 as a stop-loss. A breakout above Rs 1,050 could offer momentum-based entry opportunities, he added. Long-term investors can hold or accumulate more as long as the stock sustains above Rs expect Paytm to report its first-ever profit in Q1FY26, with projected PAT exceeding Rs 18.9 crore — compared to a net loss in the same quarter last year. Revenue from operations is expected to rise 27% YoY, driven by growth in payments and financial Securities and JM Financial believe a strong recovery in loan disbursals and tighter control over indirect expenses could support profitability. However, margins may remain under pressure due to rising payment processing costs and the absence of UPI the recent rally reflects improving fundamentals and growing investor confidence, analysts remain cautious. 'Reclaiming the IPO price of Rs 2,150 will require sustained earnings delivery, clarity on regulatory concerns, and expansion in lending partnerships,' said a fund manager at a domestic mutual now, momentum is on Paytm's side. But whether it can return to its IPO-era glory will depend on the company's ability to turn early profitability into durable growth—and rebuild trust with long-term investors.: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mint
6 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 17
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat-to-positive on Thursday, tracking mixed global market cues. The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 25,275 level, a premium of nearly 30 points from the Nifty futures' previous close. On Wednesday, the domestic equity market ended flat with a positive bias, with the benchmark Nifty 50 closing above 25,200 level. The Sensex gained 63.57 points, or 0.08%, to close at 82,634.48, while the Nifty 50 settled 16.25 points, or 0.06%, higher at 25,212.05. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex formed a small candle on the daily charts and range-bound intraday activity, indicating indecisiveness between the bulls and bears. 'We believe that 82,300 will act as a key support zone for traders. As long as Sensex trades above this level, the bullish sentiment is likely to continue. On the higher side, the index could bounce back to the 20-day SMA (Simple Moving Average) or 83,000. Further upside may also push the index up to 83,600,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Conversely, he believes, below 82,300, the sentiment could change, and if Sensex slips below this level, it could decline toward the 50-day SMA or the 82,000 - 81,800 zone. In the derivatives segment, Nifty open interest (OI) data showed the highest call writing at the 25,300 and 25,400 strike prices, while the maximum put OI was concentrated at the 25,200 level. 'This positioning suggests strong resistance near the 25,500 zone. Nevertheless, the overall market sentiment remains cautiously optimistic, and a decisive close above this resistance level will be crucial to sustain the bullish momentum in the near term,' said Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking. Nifty 50 ended above the 25,200 level and formed a doji candle on the daily chart, indicating indecision in the market. 'A small green candle was formed on the daily chart with minor upper and lower shadow. Technically, this market action indicates a doji or high wave type candle pattern which signals a confusion state of mind among participants at the lower levels. This also signals a presence of volatility in the market,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the underlying short-term trend of Nifty 50 remains positive, and a sustainable move above the immediate hurdle of 25,250 could pull Nifty 50 towards the next hurdle of 25,550 levels in the near term. Immediate support is placed at 25,000 levels. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 index is at its immediate resistance at the 25,200 level, a break of which can take the index towards the 25,500 level. 'The options writer's data shows similar puts and calls writing at the 25,200 level of the present week's expiry, indicating a range-bound move in the index. The ADX DI+ and ADX DI- lines are closing each other, also indicating a range-bound move in the index,' said Dwarakanath. VLA Ambala, Co-Founder of Stock Market Today expects the Nifty 50 to gather support between 25,150 and 25,040, and face resistance near 25,400 and 25,320 in today's session. Bank Nifty index continued to outperform the frontline indices and ended 162.30 points, or 0.28%, higher at 57,168.95 on Wednesday, forming a doji candle with shadows in either direction, signaling consolidation amid stock specific action. 'Bank Nifty is now trading comfortably above both its short-term and long-term moving averages, reinforcing its bullish undertone. Adding to the strength, the daily RSI is on the verge of crossing the 60 mark and remains in a rising trajectory — a positive sign for momentum traders,' said Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities. According to him, the zone of 57,400 - 57,500 will act as an immediate hurdle for the Bank Nifty index, while any sustainable move above the 57,500 level will lead to a sharp upside rally upto the level of 58,100, followed by 58,600 in the short term. While on the downside, the zone of 56,900 - 56,800 is likely to provide a cushion in case of any immediate decline. Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. noted that the Bank Nifty index formed a bullish engulfing candle on the daily chart, indicating strength. 'The short-term hurdle for Bank Nifty is placed in the 57,360 – 57,370 zone, while 21-DEMA is positioned near 56,775, which will act as immediate support. Short-term traders are advised to wait for a breakout above 57,370 to initiate the next round of upmove,' 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.
Time of India
16-07-2025
- Business
- Time of India
From 65,000% rally to 41% fall: Can Waaree Renewable Technologies' fresh breakout spark the next leg?
Shares of Waaree Renewable Technologies have staged a sharp comeback, rising over 17% in a single session on Tuesday, drawing renewed interest from traders and analysts. The stock is showing signs of a fresh technical breakout following a year-long consolidation and correction. Once considered one of the most explosive multibaggers on the bourses, Waaree RTL has delivered returns of over 65,000% since its 2020 lows, 1,800% in the last three years, and 340% in the past two years. However, it also corrected 41% over the past 12 months, reflecting both profit-booking and a cooling-off after a historic rally. Hardik Matalia, Derivative Analyst at Choice Broking, noted that the stock has broken out of a Symmetrical Triangle pattern, signaling the potential beginning of a sustained bullish trend. 'Waaree RTL is currently trading around Rs 1,146.70, with a strong bullish candle formation backed by robust volumes. The RSI stands at 74.54—near overbought levels—but the price action still leaves room for further upside,' Matalia said. He added that a sustained close above Rs 1,170 could confirm the breakout and trigger the next leg higher. While short-term traders can look to buy above that level or on dips, Matalia suggests that long-term investors may consider partial accumulation as long as the stock stays above Rs 1,000. Waaree RTL's Q4FY25 Earnings Waaree RTL's Q4FY25 earnings were solid. The company reported an 83% YoY jump in net profit to Rs 93.76 crore, while revenue from operations surged 74% to Rs 476 crore. EBITDA grew 68% YoY to Rs 126 crore, indicating sustained margin strength. The company has also secured several EPC contracts in recent months: - In June, it revised the scope of an existing solar EPC contract, raising the value by Rs 246.92 crore to Rs 1,480.40 crore. - Around the same time, it bagged a Rs 346 crore project from CESC Ltd. for a 300 MW AC solar power plant in Rajasthan. - In March, it received a Rs 232.30 crore EPC project from Waaree Energies , its promoter group entity, for a 170 MW AC / 255 MW DC solar installation. These projects collectively strengthen the company's execution pipeline and may offer near- to medium-term revenue visibility. What's Next for the Stock? After a year of underperformance, the recent breakout and bullish indicators are raising investor hopes for a turnaround. 'Technically, the broader structure remains strong. As long as Waaree RTL holds above Rs 1,000, the bullish view remains intact,' said Matalia. Whether the current momentum leads to a sustainable rally or short-lived bounce will likely depend on follow-through volumes, broader market sentiment, and continued order inflow. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
15-07-2025
- Business
- Mint
Nifty hovers near crucial support; breakdown below 25K could trigger deeper correction, warn experts
The Indian market continues to trade in a range-bound manner with a negative bias, having ended the last four trading sessions lower. Escalating tariff concerns continue to dampen investor sentiment, while the lack of fresh domestic triggers and uncertainty over a potential trade deal with the US are also weighing on the market. Although the domestic economy is expected to regain strength in the current fiscal year—supported by improving liquidity conditions, a healthy monsoon, and strengthening urban consumer demand—these positives appear to be largely priced into the market. The ongoing earnings season, which started off on a muted note, will be important to watch. The way results unfold could play a key role in shaping market sentiment and easing some of the valuation worries, especially since India remains one of the most expensive markets in Asia. With bears continuing to dominate Dalal Street since the start of the July, the Nifty 50 has declined sharply, falling 600 points to close slightly above the 25,000 mark at 25,082 in yesterday's session. Analysts expect a deeper correction if the index breaks below the crucial 25,000 level. The index has been trading above 25,000 since June 24. After a gap of seven months, it reclaimed this level in mid-May. Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking Private Limited, said that Nifty 50 formed a bearish-bodied candle with a lower wick on the daily chart, indicating selling dominance but also highlighting some buying support at lower levels. Matalia noted that on the downside, the 25,000 level remains a strong support, and he expects that a decisive breach below this could trigger extended selling pressure, dragging the index towards the 24,700 zone. On the upside, Matalia added that immediate resistance is placed around 25,200, followed by a strong hurdle in the 25,350–25,500 range. Meanwhile, analysts at Bajaj Broking Research said the index formed a bear candle with a long lower shadow around the psychological 25,000 level. Bajaj Broking noted that the Nifty continues to form lower highs and lower lows, highlighting a corrective decline for the fourth session in a row on Monday. They added that it's worth noting the index has taken 11 sessions to retrace just 50% of the previous 11-session up move (from 24,473 to 25,669). According to Bajaj Broking Research, this shallow pullback suggests the overall trend remains positive. They pointed out that Nifty has strong support between 24,900 and 25,100, which aligns with the 50-day EMA, a past breakout zone, and a rising trendline. Analysts expect the index to hold this support and bounce back towards 25,500–25,600 in the coming sessions. They view the current decline as a buying opportunity. However, they cautioned that if Nifty breaks below 24,900, it may temporarily halt the short-term upward trend. 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.
