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Time of India
5 days ago
- Business
- Time of India
IEX shares plunge 26% to 52-week low as market coupling gets go-ahead. What should investors do?
Shares of IEX plunged 26% after CERC approved market coupling in the day-ahead segment, threatening its monopoly in price discovery. Analysts advise caution amid oversold signals, regulatory uncertainty, and weak technicals. Key support lies at Rs 120–150. A wait-and-watch approach is recommended for fresh investors. Tired of too many ads? Remove Ads What should investors do now? Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Indian Energy Exchange IEX ) came under heavy selling pressure on Thursday, crashing 26% intraday to hit a fresh 52-week low of Rs 139.05 on the sharp decline followed the Central Electricity Regulatory Commission's ( CERC ) decision to approve market coupling in the day-ahead market segment—a move expected to dilute IEX's dominant position in electricity price stock, which was already under pressure in recent sessions, opened with a significant gap-down and hit its lower circuit limit, triggering widespread investor regulatory change is viewed as a structural shift in the power trading landscape, leading to a marked shift in market sentiment around the steep correction and regulatory headwinds, analysts are advising caution on fresh positions while outlining key levels for existing investors to Mishra, SVP – Research at Religare Broking, noted that IEX has declined sharply following the CERC's approval of market coupling, dragging the stock to a four-month low.'Going forward, the Rs 120–Rs 140 zone is expected to offer strong support, while the Rs 170–Rs 180 zone may act as resistance during any recovery attempts,' he added that existing investors should manage their positions based on these key levels, while fresh investors are advised to stay on the sidelines and wait for signs of price stability before considering any Matalia, Derivative Analyst at Choice Broking, stated, 'Today's sharp gap-down breakdown not only breached the consolidation zone but also broke below key swing lows, confirming a fresh leg of weakness.'He added that the Relative Strength Index (RSI) is now at a deeply oversold level of 17.68, signaling persistent selling pressure and no immediate signs of advised that short-term traders avoid fresh buying at current levels. 'For those already holding the stock, any bounce should be used to exit, as the recent regulatory move may continue to weigh on IEX's price performance in the near term,' he said. He also recommended that investors considering fresh long positions should wait for further clarity and signs of price S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, identified Rs 150 as a critical support level. He pointed out that this area aligns with both the anchored volume profile and the yearly S3 Camarilla pivot, suggesting a possible technical base.'Analysts suggest adopting a wait-and-watch approach for the next 4–5 sessions, as the stock may attempt to stabilize and form a base in the Rs 140–150 zone before any meaningful reversal,' Jigar of 12:40 p.m., shares of IEX remained locked in their 26% lower read: Nestle Q1 Results: Consolidated PAT falls 13% YoY to Rs 647 crore, revenue rises 6% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)On Thu, Jul 24, 2025 at 12:41 PM Nishtha Awasthi < > wrote:
Economic Times
5 days ago
- Business
- Economic Times
IEX shares plunge 26% to 52-week low as market coupling gets go-ahead. What should investors do?
What should investors do now? Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Indian Energy Exchange IEX ) came under heavy selling pressure on Thursday, crashing 26% intraday to hit a fresh 52-week low of Rs 139.05 on the sharp decline followed the Central Electricity Regulatory Commission's ( CERC ) decision to approve market coupling in the day-ahead market segment—a move expected to dilute IEX's dominant position in electricity price stock, which was already under pressure in recent sessions, opened with a significant gap-down and hit its lower circuit limit, triggering widespread investor regulatory change is viewed as a structural shift in the power trading landscape, leading to a marked shift in market sentiment around the steep correction and regulatory headwinds, analysts are advising caution on fresh positions while outlining key levels for existing investors to Mishra, SVP – Research at Religare Broking, noted that IEX has declined sharply following the CERC's approval of market coupling, dragging the stock to a four-month low.'Going forward, the Rs 120–Rs 140 zone is expected to offer strong support, while the Rs 170–Rs 180 zone may act as resistance during any recovery attempts,' he added that existing investors should manage their positions based on these key levels, while fresh investors are advised to stay on the sidelines and wait for signs of price stability before considering any Matalia, Derivative Analyst at Choice Broking, stated, 'Today's sharp gap-down breakdown not only breached the consolidation zone but also broke below key swing lows, confirming a fresh leg of weakness.'He added that the Relative Strength Index (RSI) is now at a deeply oversold level of 17.68, signaling persistent selling pressure and no immediate signs of advised that short-term traders avoid fresh buying at current levels. 'For those already holding the stock, any bounce should be used to exit, as the recent regulatory move may continue to weigh on IEX's price performance in the near term,' he said. He also recommended that investors considering fresh long positions should wait for further clarity and signs of price S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, identified Rs 150 as a critical support level. He pointed out that this area aligns with both the anchored volume profile and the yearly S3 Camarilla pivot, suggesting a possible technical base.'Analysts suggest adopting a wait-and-watch approach for the next 4–5 sessions, as the stock may attempt to stabilize and form a base in the Rs 140–150 zone before any meaningful reversal,' Jigar of 12:40 p.m., shares of IEX remained locked in their 26% lower read: Nestle Q1 Results: Consolidated PAT falls 13% YoY to Rs 647 crore, revenue rises 6% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)On Thu, Jul 24, 2025 at 12:41 PM Nishtha Awasthi < > wrote:
Time of India
02-07-2025
- Business
- Time of India
Top stocks to buy today: Stock recommendations for July 2, 2025
Top stocks to buy today (AI image) Stock market recommendations: According to Mehul Kothari, DVP - Technical Research, Anand Rathi Shares and Stock Brokers, Blue Star, CESC, and DXC India are the top stocks to buy today: BLUE STAR – Range Breakout with Strong Volumes Buy near ₹1680 | Stop Loss: ₹1620 | Target: ₹1800 After a prolonged consolidation, Blue Star has given a decisive range breakout. The price structure resembles an inverse head and shoulder pattern, supported by a surge in volumes. This breakout indicates the start of a fresh bullish leg towards ₹1800. CESC – Breakout Near 52-Week High Buy near ₹175 | Stop Loss: ₹170.80 | Target: ₹182 CESC has registered a clean range breakout on the daily chart, right near its 52-week high. The breakout is supported by RSI moving strongly above 60, confirming momentum strength. The setup looks poised for a short-term up move towards ₹182. DXC INDIA – Reversal from Crucial Support Buy in ₹280–275 range | Stop Loss: ₹257 (Closing Basis) | Target: ₹320 DXC India is approaching a major support zone aligned with its previous breakout area and the S3 Camarilla pivot. The hourly RSI is deeply oversold, indicating a potential base formation. This setup offers an attractive risk-reward for a bounce back towards ₹320. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
30-05-2025
- Business
- Mint
Eternal share price looks set to close flat in May; opportunity to buy?
Eternal share price rose over 3 per cent in intraday trade on the NSE on Friday, May 30, shrugging off weak market sentiment and looking set to extend gains to the second consecutive session. Eternal share price opened at ₹ 226.56 against its previous close of ₹ 228.37 and rose 3.2 per cent to an intraday high of ₹ 235.65. Around 11:15 AM, the stock traded as the top gainer in the Nifty 50 index, up 2.93 per cent at ₹ 235.05. The Nifty 50 was 0.31 per cent down at 24,756 at that time. While the stock has been in the green since Thursday, it has been consolidating recently. It appears poised to end the week in the red, which would mark its second consecutive weekly loss. For the month of May, the stock is nearly flat. In the calendar year 2025, the stock has declined by 18 per cent. Over the last year, the stock has gained 25 per cent, hitting a 52-week high of ₹ 304.70 on December 9 and a 52-week low of ₹ 146.30 on June 4 last year. Eternal reported a 77.7 per cent fall in its Q4FY25 consolidated net profit at ₹ 39 crore versus ₹ 175 crore reported in the year ago period. The revenue from operations in Q4FY25 stood at ₹ 5,833 crore, which was up by 63.8 per cent over ₹ 3,562 crore in the corresponding quarter of the previous financial year. After Q4 results, brokerage firm Axis Securities downgraded the stock to 'hold', citing that there could be pressure on the near-term margins due to increased competition. "From a long-term perspective, Zomato (Eternal) has built a resilient business model by securing multiple strategic verticals and delivering broad-based growth. However, near-term challenges—rising competitive intensity, rapid store expansion, and subdued demand in the food delivery business—are likely to keep profitability under pressure. Consequently, we downgrade the stock to 'hold' and value it at ₹ 230 per share based on an SOTP valuation," said Axis Securities. Technical experts appear largely positive, but some point out that traders and investors should wait for a decisive breakout before buying this stock. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, highlighted that at the current juncture, Eternal has taken support around the ₹ 220–225 zone, which aligns with the S3 Camarilla pivot level. Additionally, the RSI on the hourly chart indicates a hidden bullish divergence, suggesting a potential upside move toward the ₹ 250 mark. "We recommend going long in the ₹ 228–232 range, with a stop loss below ₹ 220 and a target of ₹ 250," said Patel. According to Kunal Kamble, Senior Technical Research Analyst at Bonanza, Eternal has been consolidating in a tight range of ₹ 218– ₹ 247 for the past 45 days, with declining volumes indicating reduced participation. The narrow 28.54-point range suggests a breakout is imminent. Kamble underscored that buyers have consistently defended dips, and a breakout above ₹ 247 could trigger a rally towards ₹ 260– ₹ 280. Conversely, a breakdown below ₹ 218 may lead to a decline towards ₹ 198– ₹ 190. "The stock is currently at a crucial juncture, and traders should watch for a decisive move beyond the established range to confirm the next directional trend. A breakout or breakdown will likely be accompanied by a surge in volumes," said Kamble. Mandar Bhojane, an equity research analyst at Choice Broking, believes a sustained close above the key level of ₹ 247 could act as a breakout trigger, opening the path for upside targets of ₹ 280 and ₹ 305 in the near term. On the flip side, Bhojane said ₹ 220 remains a crucial support level, and dips toward this zone may be considered healthy retracements within the range. "Momentum-wise, the RSI at 49.72 is flat, indicating a wait-and-watch sentiment, but a move above 50 could confirm renewed strength. For prudent risk management, traders may consider placing a stop-loss at ₹ 215," said Bhojane. Shitij Gandhi, Senior Research Analyst (Technicals) at SMC Global Securities, pointed out that the stock is currently hovering around its 200-day exponential moving average (EMA) on the daily charts. Secondary oscillators indicate continued consolidation, with the stock likely to trade within a broader range of 220-250 in the near term. In the absence of a clear directional move, the stock may remain rangebound in the coming weeks as well, Gandhi said. 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
29-05-2025
- Business
- Mint
Stocks to buy below ₹200: Mehul Kothari of Anand Rathi recommends three shares to buy on Friday
Stocks to buy under ₹ 200: The Indian stock market snapped its two-day losing streak and rebounded on Thursday, May 29, mirroring a rally in global markets as a US court blocked President Donald Trump's reciprocal tariffs. The equity market rose earlier today, driven by information technology stocks The 30-share BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 in a volatile session amid monthly expiry in derivative contracts. During the day, it rose 504.57 points or 0.62 per cent to 81,816.89. The 50-share NSE Nifty went up by 81.15 points or 0.33 per cent to 24,833.60. The index swung in both directions on the monthly expiry day before ending with gains. Metal, realty, pharma and IT sector indices were major gainers. Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi said that Nifty 50 opened on a positive note but gradually drifted lower through the first half of the session. However, it managed to stage a recovery in the latter part of the day, closing above the 24,800 mark with a gain of 0.33 per cent. On the hourly chart, Nifty has formed a solid base around the 24,700 level, which coincides with the S3 Camarilla weekly pivot—lending technical significance to this zone. Moreover, a bullish divergence is visible on the 15-minute chart, adding to the potential for an upside move. 'As we head into the May 30 session, the 24,775–24,880 zone—defined by the Camarilla pivot band—will be pivotal for determining near-term market direction. A sustained move above this could reignite bullish momentum, whereas a failure to hold above it may lead to renewed selling pressure. Key resistance is seen at 25,000, while immediate support lies at 24,700,' said Kothari. Regarding stocks to buy on Monday, Mehul Kothari of Anand Rathi recommended three buy or sell stocks. The three stocks to buy under ₹ 200 are Suzlon Energy, Tata Teleservices (Maharashtra) Ltd, and Aditya Birla Fashion and Retail Ltd. Energy: Buy around ₹ 65; Target Price: ₹ 69; Stop Loss: ₹ 63 Teleservices (Maharashtra) Ltd: Buy around ₹ 76.50; Target Price: ₹ 82; Stop Loss: ₹ 74 Birla Fashion and Retail Ltd: Buy around ₹ 88.50; Target Price: ₹ 93; Stop Loss: ₹ 86
