Latest news with #JigarS.Patel
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
23-06-2025
- Automotive
- Mint
Israel-Iran war: DMart to Eicher Motors— Jigar Patel of Anand Rathi recommends 3 stocks to buy for the short term
Stocks to buy for the short term: Indian stock market benchmarks, the Sensex and the Nifty 50, crashed over a per cent each in intraday trade on Monday, June 23, as Israel-Iran war escalates further, crude oil prices rise sharply and investors dump riskier equities and rush to safe haven assets. As it is difficult to predict the trajectory of the stock market amid rapidly changing geopolitical scenarios, Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, advises traders to remain vigilant. "A decisive breakout above 25,300 could pave the way for a sustained rally toward 25,500–25,600. Conversely, any faltering near current levels could signal renewed caution. On the downside, immediate support lies at 24,700, with a stronger floor near 24,450. Until confirmation is evident, restraint remains prudent near resistance zones," said Patel. Jigar Patel recommends buying shares of DMart, Eicher Motors and Biocon for the next two to three weeks. Over the past month, Eicher Motors has witnessed a healthy correction of approximately 12 per cent from its recent peak of ₹ 5,906. Notably, the stock has established a firm base over the last 15 trading sessions, consolidating between its 50- and 100-day exponential moving averages — a sign of stabilizing price action. In the latest session, Eicher decisively broke out of a dual descending trendline, supported by a steadily improving Relative Strength Index (RSI), which has consistently held above the 40 mark and now stands at 61.42. "The confluence of favourable technical indicators positions Eicher as an attractive long candidate. Traders may consider initiating positions in the ₹ 5,530–5,480 range, targeting ₹ 5,900, with a stop loss placed below ₹ 5,300," said Patel. Eicher Motors Following a steep decline from its recent high of ₹ 4,557, DMart has entered a consolidation phase, forming a strong base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA). Notably, the stock has triggered a bullish golden crossover, with the 50-DEMA moving above the 200-DEMA — a technically significant development often interpreted as a precursor to upward momentum. Adding weight to the bullish bias, the stock has also broken out of a descending trendline, indicating a potential trend reversal. "Given this confluence of positive technical signals, traders may consider initiating long positions in the ₹ 4,300–4,250 zone, with an upside potential toward ₹ 4,700. A stop loss should be maintained below ₹ 4,100 on a daily closing basis," Patel said. DMart Biocon has recently established a robust base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA), signalling price stability after a period of consolidation. A golden crossover — with the 50-DEMA crossing above the 200-DEMA — further reinforces the emerging bullish sentiment. On June 19, 2025, the stock also formed a bullish harami candlestick pattern, accompanied by a close above the R3 Camarilla monthly pivot, strengthening the technical outlook. This alignment of key indicators suggests a potential upside move. "Traders may consider initiating long positions in the ₹ 353–348 range, with a projected target of ₹ 385. A protective stop loss should be placed below ₹ 332 on a daily closing basis to manage risk effectively," said Patel. Biocon Read all market-related news here 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
Stocks to buy for short term: From Swiggy to Biocon— Jigar Patel of Anand Rathi suggests 3 stock picks
Stocks to buy for the short term: Frontline indices, the Sensex and the Nifty 50, ended lower last week on profit booking amid heightened tensions between Israel and Iran, persisting concerns over US tariffs and stretched valuations. The Indian stock market may remain volatile this week, tracking news flows surrounding Israel and Iran and ahead of the US Fed policy decision on June 18. On the technical front, the Nifty 50 is now below 24,750, and experts see key support for the index at 24,450. "The index ended last week with over a 1 per cent loss. Notably, the reversal occurred precisely near the 161.8 per cent Golden Ratio extension, reinforcing it as a strong resistance. A break below 24,450 could extend the fall toward 24,000," said Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers. "Traders are advised to stay cautious, avoid aggressive longs, and use relief rallies to lighten positions unless fresh momentum emerges. 25,200–25,300 is the key resistance zone, while 24,450–24,000 is the key support," Patel said. Jigar Patel recommends buying shares of Swiggy, Biocon and Route Mobile for the next two to three weeks. Swiggy recently broke out of a falling channel and touched ₹ 376, indicating bullish momentum. Over the past five sessions, it has seen mild correction but found support at the monthly R3 Camarilla pivot. Notably, the stock had consolidated between R3 and S3 pivots from March to May, a setup that often precedes strong directional moves. This technical structure suggests potential for further upside. "Consider long positions in the ₹ 355–345 zone, targeting ₹ 390. Maintain a stop loss at ₹ 330 on a daily closing basis," said Patel. Swiggy stock technical chart Biocon recently broke out of a consolidation zone between ₹ 330–345 and is now trading well above it, signalling renewed strength. On the monthly floor pivot, an inside value relationship between May and June (R1–S1) suggests potential for an explosive move. The breakout was supported by a volume surge and a breach of the short-term falling trendline, reinforcing bullish sentiment. Additionally, RSI held steady in the 40–50 range during consolidation and now hovers around 65. "Go long in the ₹ 356–350 range, targeting ₹ 390. Maintain a stop loss at ₹ 335 on a daily closing basis," Patel said. Biocon stock technical chart Recently, Route Mobile broke out after nearly a month of consolidation, accompanied by a significant surge in volume, indicating strong accumulation. What makes this consolidation phase notable is that it occurred within the R3–S3 zone of the monthly Camarilla pivots, establishing an Inside Value relationship. This setup forms when the current month's pivots are nested within the previous month's range, often signalling a potential breakout with strong directional bias. Adding to the bullish case, the daily RSI has consistently held above the 60 level and is now positioned at 71, reflecting strengthening momentum. "We recommend a buying opportunity in the ₹ 1,090-1,060 zone, with a target price of ₹ 1,220. Maintain a stop loss at ₹ 1,000 on a daily closing basis," said Patel. Route Mobile 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.
Mint
10-06-2025
- Business
- Mint
Adani Power share price jumps 8% with strong surge in volume; should you buy?
Adani Power share price jumped over 8% in intraday trade on the BSE on Tuesday, June 10, looking set to extend gains to the fifth consecutive session. Adani Power share price opened at ₹ 565.30 against its previous close of ₹ 563.30 and jumped 8.3 per cent to an intraday high of ₹ 610. Around 2:45 PM, the Adani Group stock traded 6.33 per cent higher at ₹ 598.95, with over 2.60 crore shares traded. Other Adani Group stocks, including Adani Enterprises, Adani Ports, Adani Green Energy, Adani Total Gas and Adani Energy Solutions, also witnessed healthy gains of 1-3 per cent during the session. Adani Power share price has gained over 12 per cent this year so far. The stock hit a 52-week high of ₹ 810.55 on June 10 last year, followed by a 52-week low of ₹ 430.85 on November 21. On a monthly scale, the stock has been in the green since March this year, rising 9 per cent in June so far. The company announced, through an exchange filing on June 9, that it held an investor presentation that showcased its business performance. Meanwhile, the company reported a 5 per cent decline in its consolidated net profit to ₹ 2,599.23 crore in Q4FY25 compared to the year-ago period, mainly due to lower recognition of one-time items. It had reported a net profit of ₹ 2,737.24 crore in the quarter ended on March 31, 2024, a company statement said. Profit after tax for FY25 was lower at ₹ 12,750 crore compared to ₹ 20,829 crore in FY24 on account of lower one-time revenue recognition and higher tax charges. On May 28 this year, brokerage Incred Equities initiated coverage on the stock with an 'add' rating with a target price of ₹ 649. "We project an 11 per cent EBITDA CAGR over FY25-28F, driven by 70 %+ PLF and 10% power generation growth as the pipeline capacity gets commissioned," said the brokerage firm. Incred said the capex of ₹ 1,20,000 crore is expected to be funded via internal accruals, deleveraging the balance sheet to reduce net-debt/EBITDA to 0.9 times by FY30F from 1.5 times in FY25. "We have valued Adani Power at 11 times one-year forward EV/EBITDA with a target price of ₹ 649. The valuation is supported by a projected 9% PAT CAGR and sustained RoE above 15%. Execution delay in the 13.12GW pipeline, lower-than-expected merchant realisation and revival of the discom payment issue are the key downside risks," said Incred. Technical experts also highlight a favourable setup for the stock. According to Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, Adani Power recently broke out after nearly a month of consolidation, supported by a notable surge in volume, signalling strong accumulation. This consolidation is particularly significant because it occurred within the R3–S3 zone of the monthly Camarilla pivots, forming an Inside-Value relationship. Adani Power stock technical chart Patel added that this technical structure, where the current month's pivots are nested within the previous month's range, often precedes strong directional moves. Strengthening the bullish outlook, the daily RSI has consistently stayed above 50 and is now positioned at 68, indicating improving momentum. "From a trading perspective, a buying opportunity is identified in the ₹ 595–580 zone, with a target of ₹ 650. A stop loss should be placed at ₹ 555 on a daily closing basis," said Patel. Read all market-related news here Read more stories by Nishant Kumar
