Latest news with #Palviya
Mint
6 days ago
- Business
- Mint
Stocks to buy: Rajesh Palviya of Axis Sec suggests Torrent Pharma, Prestige Estates, V-Guard shares today
Stock market today: The Indian stock market started off flat on Friday as ongoing weak investor sentiment persisted due to continued selling by Foreign Portfolio Investors (FPIs) and a lackluster earnings season in the IT sector. The Nifty 50 index commenced at 25,108.55, experiencing a slight decline of 2.90 points or 0.01 percent. At the same time, the BSE Sensex opened the session at 82,193.62, dropping by 65.62 points or 0.08 percent. Analysts attributed the market's weak opening to the current disappointing earnings reports. On the technical front, Rajesh Palviya of Axis Securities, believes Nifty 50's short-term outlook remains cautious with expected upside of 25,400-25,500 levels. Palviya recommends three stocks to buy. Here's what he says about the overall market. On the daily and hourly charts, the index is trending lower, forming a series of lower tops and bottoms, indicating negative bias. Nifty 50 is sustaining below its 20-day SMA, which signals a short-term downtrend. From current levels, the short-term outlook remains cautious with expected upside of 25,400-25,500 levels. On the downside, the short-term supports are placed around 25,000-24,900 levels. The daily strength indicator RSI has turned bearish and sustained below its reference lines, indicating a loss of strength. On the daily and weekly charts, the stock has experienced continuation of the prior uptrend, forming a series of higher tops and bottoms. In addition, the weekly prices have also confirmed a "down-sloping trendline" breakout at 3,400 levels, which signals a strong comeback of bulls. The past 3-4 weeks' rising volumes signify increased participation. The stock is sustaining above its 20, 50, 100 and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily and weekly strength indicator, Relative Strength Index (RSI), is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 3,700-3,950, and its downside support zone is the 3,450-3,400 levels. On the daily chart, the stock has confirmed a "multiple resistance zone" of 1760 levels on a closing basis, which shows bullish sentiments. Huge rising volumes on breakout signify increased participation. The daily "band bollinger" buy signal indicates increased momentum. The stock is sustaining above its 20, 50, 100 and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily and weekly strength indicator, Relative Strength Index (RSI), is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 1,900-1,950, and its downside support zone is the 1,720-1,700 levels. On the daily chart, the stock has surpassed the 5-6 months multiple resistance zone of 400 levels on a closing basis. Huge rising volumes on breakout signify increased participation. The stock is sustaining above its 20, 50, 100 and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily and weekly strength indicator, Relative Strength Index (RSI), is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 430-450, and its downside support zone is the 390-385 levels. 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.
Economic Times
05-07-2025
- Business
- Economic Times
Bullish setup for Nifty, Bank Nifty; pharma, oil & gas to remain in focus: Rajesh Palviya
Buying interest is clearly present in the market, with traders and investors aiming to buy stocks where the risk-to-reward ratio is favourable, Palviya said. Synopsis Rajesh Palviya of Axis Securities sees bullish momentum continuing as Nifty holds above key support. Pharma, oil & gas, and capital goods are showing strong breakouts. Glenmark and Reliance are top picks. Meanwhile, Trent may consolidate between Rs 5,000–Rs 6,000, offering a potential buy on dips opportunity for long-term investors. Despite some volatility in the indices, midcap and smallcap stocks are still trading above their near-term breakout levels. We have observed participation from sectors such as oil and gas, metals, IT, and pharma, all exhibiting strength amidst this volatility. Therefore, buying interest is clearly present in the market, with traders and investors aiming to buy stocks where the risk-to-reward ratio is favourable, according to Rajesh Palviya of Axis Securities. ADVERTISEMENT Rajesh Palviya: So, if we analyse in a broader sense, both indices are trading above the 20-day moving average, which is a sign of positivity on the near-term perspective. Even if we look at the India VIX which is trading at the lower band of this, it is trading at the lower band of the last five-six years. It is quoting at around 12.40 kind of level, so which is also giving a sign of that sentiments are intact on the bullish side for the market. There is no fear on the street. If we analyse the broader market, most of the midcaps and smallcaps are still holding. Despite some volatility in the indices, the midcap and smallcap stocks are still holding above their near-term, short-term breakout levels. We have seen participation from sectors like oil and gas, metal, even it, even pharma, all these sectors were showing strength in this volatility also. So, buying interest is clearly there in the street and the traders as well as investors are trying to buy stocks where risk-to-reward is in their favour, and the large accumulation activity is already done for the sectors on the buying side of the trade. For indices, we believe that till the Nifty is holding above 25,300, the trend is likely to exhibit on the bullish side. On the higher side, 25,600 to 25,500, this range may act as a supply zone, as major call writing activity has been there, especially in the last two to three trading sessions for this strike. So, once Nifty manages to cross above 25,600, then we may witness some short covering action and then the possible rally can extend further to 25,800 also. So, our view is bullish. 25,300 is the stop loss to buy and accumulate in Nifty. For Bank Nifty, 56,500 is the key support area based on the put-based concentration. Till these levels are intact, here also Bank Nifty will try to exhibit on the bullish side only. 57,200 is the immediate supply zone based on the call concentration. Once Bank Nifty manages to cross these levels, we may also see short covering action, which could take Bank Nifty higher, further to the 57,600 to 57,800 zone. Rajesh Palviya: Some of the sectors where we are witnessing fresh breakout and fresh buying activity are oil and gas, telecom, pharma, and capital goods. These sectors are attracting more buying action, especially this week. We have also witnessed a lot of stocks from these sectors showing good buying action. So, from oil and gas, there is a fresh breakout from the OMC pack, like BPCL, HPCL managed to give a fresh breakout, and from the midcap space, Chennai Petro managed to give a breakout, even Reliance is also looking bullish. So, all these stocks are showing fresh buying action. Again, gas-related stocks, like MGL, IGL, are also on an upward trend. So, all these stocks are looking bullish, and we believe the kind of breakout that happens can take these stocks further higher. Another sector where we are focusing is pharma. Some of the stocks from the pharma sectors are still trading at all-time high trajectories and the way the buying interest is there in stocks like Laurus Labs, Glenmark Pharma, even Divi's Lab, all these stocks are attracting buying, even despite these all stocks are at all-time high trajectory and some of the stocks which were under corrective mode are also started recovering from the lower band of their consolidation. So, pharma is another space where one can focus in the coming week for the buying side. And from the capital goods space, Siemens and ABB, these two stocks are looking promising, so here also one can look to buy, and we may see good up move in these stocks also. Rajesh Palviya:From the sectors discussed, I've picked two stock ideas. The first is from the pharma space — Glenmark. lenmark has given a fresh breakout from a rounding bottom formation on the weekly chart, indicating the potential for continued upside. So, we believe that here, there would be more continuity of uptrend, possible upside towards 1,890, 1,900 we may see for Glenmark. Buy and accumulate would be strategy and 1,805 should be the stop loss. Another stock that we like is Reliance Industries. Now, stock is negotiating with its September 2024 swing high and the way the stock is showing strength on the weekly chart, we believe that Reliance may continue furthermore upside and we may see good support in the indices also from the Reliance Industries itself, possible target towards 1,570 we are expecting in the near-term perspective, so buy and accumulate would be the strategy with stop loss of 1,500. ADVERTISEMENT Rajesh Palviya: So, we have observed that Trent, the major support area on the downside, is placed at around 5,000, 4800 for it. We have seen the same kind of corrective move earlier also for the stock. Now looking at the intensity of supply pressure in today's session, we may see furthermore down move towards 5,200, 5,100 kind of level. But again, 5,000 may act as a good support area. So, those who are looking to buy the stock in this corrective move should wait another 100-200-point correction and then one can buy and accumulate as long-term structure is bullish but yes, we may see some consolidation or range bound kind of activity in range of 5,000 to 6,000 for some more couple of month, until some revival sign we do not get from the management. So, 5,000 to 6,000 would be the broader range for the stock. So, buy in the correction would be the strategy for this stock. Your stop loss should be placed at around 4850 if you are buying in the decline. 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Time of India
03-07-2025
- Business
- Time of India
Overseas Investors: Key strength ratio signals bullish momentum for Indian markets
ADVERTISEMENT ADVERTISEMENT Mumbai: The monthly advance-decline ratio (ADR) for all BSE-listed stocks was above one in June for the fourth consecutive month. Analysts said it indicates improving investor confidence. This, amid a revival in the IPO market and broad-based buying, is expected to propel the markets to a new peak in near term. The last time the ADR was consecutively above one was between April 2023 and January 2024 for 10 consecutive months."The ADR remaining over one consistently is a sign that the bullish momentum is back as benchmark indices are trading above key moving averages while the mid-cap and small caps are in an upward trajectory as well," said Rajesh Palviya, head of technicals and derivatives, Axis Derivatives. "The VIX has meanwhile remained comfortable below 14."Palviya said the overseas investors have turned buyers of Indian equities amid a revival in the IPO market and promoter stake sales - all without a significant fall in the the past four months, benchmark Nifty gained around 15% after declining 6.4% in the first two months of the year. The Nifty Mid-cap 150 and Small-cap 250 indices gained 23.6% and 28% respectively in the past four the derivatives front, overseas investors reduced short positions on index futures on expiry from the peak of 1,09,471 positions to 38,123 positions which leaves room for short squeeze."The foreign investors remain short on the market and haven't reduced their positions significantly yet," said Rohit Srivastava, founder, "Short covering on that front could be a trigger for the markets that pushes it higher." Srivastava said the bullish momentum indicated by consistently positive ADR is likely to support benchmark Nifty to all time high especially since July has been a strong month historically for the investors turned buyers of Indian equities in March after selling shares worth ₹1.46 lakh crore. "The market has absorbed the negatives such as Trump tariffs, India-Pak dispute and the middle eastern conflict with no major declines," said Srivastava. "In the near term, benchmark Nifty is likely to be at 26,400 levels initially and move towards 28,380 levels by December this year."Srivastava, however, said some stocks and sectors are not participating in the markets but post short-term consolidation, these stocks and sectors are expected to follow said benchmark Nifty is expected to be at all time high levels in July or latest by August- as Trump is expected to soften the tariffs and the impact is likely to be limited to sectors like IT, pharma and auto may face the brunt. Palviya said benchmark Nifty is expected to be at 25,800-26,000 levels in the near term and all sectors are expected to contribute to the upmove.'Bank Nifty is on an upward trajectory, and auto and FMCG indices are also near breakout levels while railways, chemicals, sugar and fertilisers are also inching higher which indicates that strength is returning to the street.' The delivery volumes witnessed a steady upmove since April; after peaking in March, however, analysts attributed the increase to regulations on volumes.'The delivery volume share moved up steadily on a monthly basis, however, Sebi regulations on volumes especially for smallcap and mid-cap segment had more to do with it,' said Palviya. 'While delivery volumes moved higher, the turnover hasn't increased much.'
Time of India
03-07-2025
- Business
- Time of India
Key strength ratio signals bullish momentum for Indian markets
Mumbai: The monthly advance-decline ratio (ADR) for all BSE-listed stocks was above one in June for the fourth consecutive month. Analysts said it indicates improving investor confidence. This, amid a revival in the IPO market and broad-based buying, is expected to propel the markets to a new peak in near term. The last time the ADR was consecutively above one was between April 2023 and January 2024 for 10 consecutive months. "The ADR remaining over one consistently is a sign that the bullish momentum is back as benchmark indices are trading above key moving averages while the mid-cap and small caps are in an upward trajectory as well," said Rajesh Palviya, head of technicals and derivatives, Axis Derivatives. "The VIX has meanwhile remained comfortable below 14." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Philippines: Affordable Refrigerators for Sale - Check Out the Prices! Refrigerators | Search Ads Search Now Undo Palviya said the overseas investors have turned buyers of Indian equities amid a revival in the IPO market and promoter stake sales - all without a significant fall in the market. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Agencies In the past four months, benchmark Nifty gained around 15% after declining 6.4% in the first two months of the year. The Nifty Mid-cap 150 and Small-cap 250 indices gained 23.6% and 28% respectively in the past four months. On the derivatives front, overseas investors reduced short positions on index futures on expiry from the peak of 1,09,471 positions to 38,123 positions which leaves room for short squeeze. Live Events "The foreign investors remain short on the market and haven't reduced their positions significantly yet," said Rohit Srivastava, founder, "Short covering on that front could be a trigger for the markets that pushes it higher." Srivastava said the bullish momentum indicated by consistently positive ADR is likely to support benchmark Nifty to all time high especially since July has been a strong month historically for the markets. Overseas investors turned buyers of Indian equities in March after selling shares worth ₹1.46 lakh crore. "The market has absorbed the negatives such as Trump tariffs, India-Pak dispute and the middle eastern conflict with no major declines," said Srivastava. "In the near term, benchmark Nifty is likely to be at 26,400 levels initially and move towards 28,380 levels by December this year." Srivastava, however, said some stocks and sectors are not participating in the markets but post short-term consolidation, these stocks and sectors are expected to follow suit. Analysts said benchmark Nifty is expected to be at all time high levels in July or latest by August- as Trump is expected to soften the tariffs and the impact is likely to be limited to sectors like IT, pharma and auto may face the brunt. Palviya said benchmark Nifty is expected to be at 25,800-26,000 levels in the near term and all sectors are expected to contribute to the upmove. 'Bank Nifty is on an upward trajectory, and auto and FMCG indices are also near breakout levels while railways, chemicals, sugar and fertilisers are also inching higher which indicates that strength is returning to the street.' The delivery volumes witnessed a steady upmove since April; after peaking in March, however, analysts attributed the increase to regulations on volumes. 'The delivery volume share moved up steadily on a monthly basis, however, Sebi regulations on volumes especially for smallcap and mid-cap segment had more to do with it,' said Palviya. 'While delivery volumes moved higher, the turnover hasn't increased much.'
Mint
08-06-2025
- Business
- Mint
Market geared for fresh upmove post RBI action
The surprise monetary easing on Friday ignited an aggressive selling of Nifty put options, indicating that India's benchmark stock index is poised for a surge when the market opens on Monday. On Friday, the Reserve Bank of India's monetary policy committee (MPC) transmitted a clear signal for growth, slashing the benchmark repo rate by 50 basis points (bps) and the cash reserve ratio requirement (CRR) by 100 bps. Traders responded by selling a huge quantum of put options at Nifty's 25,000 level, reflecting the belief that the index would clock smart gains on Monday. Open interest (OI) in Nifty's weekly 25000 strike put expiring on Thursday rose a whopping 470% to 83,472 contracts on Friday after the policy announcement. Open interest is the total number of outstanding derivative contracts. Sriram Velayudhan, senior vice-president, IIFL Capital Services, said this reflects the fresh trigger for markets from the RBI's unexpected action. "The outsized cuts in the repo rate and the unexpected significant easing of the CRR have given a bullish texture to the market," said Velayudhan. "Most mutual funds are underweight financials and IT, and with this cut, we expect fresh buying in rate-sensitives, which will prop up the market. One of the signals of bullishness is reflected in the sale of the ATM (at-the-money) put, which shows the high confidence of the traders." At-the-money refers to options which trade at or close to the current market price of an underlying index or stock. 'Bullish sign' Rajesh Palviya, SVP (head of derivatives & technical research), Axis Securities agreed with Velayudhan's take on the index. "Writing puts at the same level as the Nifty is a very bullish sign," said Palviya, who raised the range for the Nifty to 24900-25500 from 24500-25100 after the RBI action. Traders have baked in a range of 24670-25330 for the Nifty this week with an immediate bias to the upper end of the range, Palviya added. Also read | Has RBI unleashed its arsenal too soon for the economy? Traders sell more put options relative to call options when they believe markets will rise, enabling them to pocket the premiums paid by the put buyers—investors who buy put options either to punt or to hedge their portfolios against anticipated volatility. Conversely, traders sell more calls than puts when they expect markets to fall. The Nifty closed 1% higher at 25003.05 on Friday after RBI cut the rate at which it lends to banks (repo) by a greater-than expected 50 bps to 5.5% against the market estimate of 25 bps. It also reduced the share of total deposits banks must park with it (CRR) by 100 bps in tranches to 3%. The policy panel also shifted monetary policy stance to neutral from accommodative. FPIs trim positions Meanwhile, foreign portfolio investors (FPIs) trimmed their short index futures positions to 92730 contracts on Friday from 106,988 contracts a day earlier. Retail and high net worth investors (HNIs) booked some profits on their bullish index futures positions by reducing these to a net long 61524 contracts on Friday from 68669 net long contracts on Thursday. FPIs have turned net buyers of Indian shares since mid-April as the dollar weakened and the US bond yields fell. After selling ₹2.85 trillion worth of shares in the secondary market between October and March, fuelling a 9% fall in the Nifty to 23519, they net purchased shares worth ₹21,327 crore in April and May, aiding the Nifty's recovery by 5.2% to 24751 by the end of last month. Also read | RBI to soon issue easier gold loan rules for small-ticket borrowers Since then, FPIs turned net sellers worth ₹12,077 crore in the month through 5 June, as per NSDL, which hadn't released the figure for Friday. However, BSE data shows that FPIs net purchased shares worth a provisional ₹1009.71 crore on Friday, while domestic institutional investors purchased a net ₹9,342.48 crore. BSE data shows that DIIs absorbed the FPI selling at lower levels, net buying ₹3.75 trillion worth of stocks between October last year and March this year. Their buying of ₹1.2 trillion since March end to 6 June drove the recovery from a multi-month low to 21743.65 on 7 April to 25003.05. From March end to 6 June, FPIs net invested ₹10,260 crore in the cash market, NSDL data showed. Jyoti Jaipuria, founder of PMS firm Valentis Advisors, is bullish on markets after the RBI policy, as he believes the rate cut and CRR reduction, could spur consumption demand, leading to better earnings growth. He is bullish on small cap companies in the financial, chemicals, pharma and engineering segments. Also read | RBI aims to boost economic growth, liquidity with jumbo rate and CRR cuts
