Latest news with #SagarDoshi
Mint
6 hours ago
- Business
- Mint
Stock Picks: Sagar Doshi suggests Jindal Steel, Ajanta Pharma, Godrej Agrovet shares to buy today
Stock market today: India's stock benchmarks began the day on a positive note on Wednesday, driven by better-than-anticipated earnings from the major infrastructure company Larsen & Toubro. The Nifty 50 increased by 0.28% to reach 24,890.4 points, while the BSE Sensex rose by 0.32% to hit 81,594.52 as of 9:15 IST. At the same time, investors are likely to tread carefully in anticipation of the Federal Reserve's policy announcement later today, as well as due to worries regarding a possible India-U.S. trade agreement. On the technical front, Sagar Doshi of Nuvama believes Nifty 50 is yet not out of the woods and currently stands at the retest of head and shoulder breakdown. Doshi recommends three stocks to buy today. Here's what he say about the overall market. Nifty 50 recovered all of its previous day's losses as the initial pattern target of bearish head and shoulder breakdown was seen completing at 24,600. A short covering move was seen ahead of monthly expiry due tomorrow. Nifty 50 is yet not out of the woods and currently stands at the retest of head and shoulder breakdown. Only a close above 25,010 negates any potential down move while another 400 pt downside can commence if Nifty 50 closes below 24,600. Hence, for the balance of this week, we are estimating for a rangebound trade between 24,600 – 25,010. Bank Nifty has been nearing its 5 month rising trendline support at 55,800 odd as the index continues to outperform Nifty 50 since the start of this calendar year. On hourly charts as well, the index gave a break below its rising channel in the start of this week but pulled back in reinstating its underlying strong amongst insides. Trend on Bank Nifty remains positive for a move towards 56,800 / 57,100 unless a close below support of 55,800 is not confirmed on daily charts. On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Jindal Steel & Power Ltd, Ajanta Pharma Ltd, and Godrej Agrovet Ltd. Countering the broader market trend, stock was up over 4% in last week's trading as it broke out from its 1 year trendline. Currently the price is retesting its 1 year trendline breakout for an up move towards previous all time highs. Stock has broken out from a 10 month falling trendline on daily charts along with this it indicates a breakout from a 6 month consolidation / base formation on weekly charts for atleast a 8-10% upside from CMP. Adding to this, stock has also given a crossover above its 200 DMA in mid-June and has been holding above the same which is a positive sign. Breaking out from its 1 year consolidation, stock has also given a bullish cup and handle pattern breakout on daily and weekly charts. A retest of the breakout has also played out at the start of this week as broader marked cooled off. Stock is now open to hit at least 10% as its initial target on the upside. 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
23-07-2025
- Business
- Mint
Stock Picks: Sagar Doshi suggests Balkrishna Industries, Hindalco, M&M shares to buy today
Stock market today: India's stock benchmarks opened higher on Wednesday, following the upward trend in their Asian counterparts after the US disclosed a trade agreement with Japan, raising hopes for additional deals. Nevertheless, the ongoing uncertainty regarding the interim trade agreement between India and the US, ahead of President Donald Trump's August 1 deadline, restrained the advances in the Indian market. The Nifty 50 increased by 0.22% to reach 25,122.75 points, while the Sensex climbed 0.30% to 82,430.50 as of 9:15 IST. Japanese stocks spearheaded the rally in Asian markets on Wednesday following the announcement of the trade agreement. MSCI's widest index for Asia-Pacific stocks, excluding Japan, also rose by 0.7%. Nifty 50 has entered a consolidation zone once again, though broader trend indicates upside from current levels, but absence of tailwinds are keeping the index in range. We continue with our view on a broad consolidation between 24,800 and 25,320 for the balance of this week, given the chart structure and positioning based on derivative data. On the options front as well, given tomorrow weekly expiry, highest call and put writing is seen at 25,200 and 24,800 respectively, furthering our stance on rangebound play for this week. After reclaiming its resistance of 56,750 in Monday's session, the index is now eyeing for a break above 57,100 to allow momentum on the long side on Bank Nifty 50. Outperformance against Nifty 50 which has been the powering the underlying current on this index, a close above 57,100 is now essential for the outperformance to continue. On the flip side, closing below 56,200 could allow downward pressure on the index. On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Balkrishna Industries Ltd, Hindalco Industries Ltd, and Mahindra & Mahindra Ltd (M&M). Balkrishna Industries share price has given a cup and handle breakout on daily chart at the start of this week. This pattern has been in place from the start of this calendar year marking an end of its 6 month consolidation. Given the set up this suggests for a 10-12% upside from current levels. Hindalco share price has given a 9 month trendline breakout same time last month, but the stock had been missing follow through, a retest and back to the breakout price has made way for a follow through to play out. Stock has also sustained above its 200 DMA for four consecutive weeks now, enabling for further upside on charts. Breaking out from its 5 month consolidation, M&M share price had shown early signs of reclaiming its all-time high given the cup and handle breakout last month. A retest of the same neckline has also been complete furthering the stance for another 10-12% upside from CMP. M&M has also given highest ever closing yesterday on daily charts. 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
16-07-2025
- Business
- Mint
Stock Picks: Sagar Doshi suggests Voltas, Samvardhana Motherson, JK Tyre shares to buy today
Stock market today: India's stock market indices began the day with little change on Wednesday, as the rise in shares of leading private bank HDFC Bank countered general declines following data indicating an increase in US inflation. Experts noted that concerns regarding tariffs also caused investors to adopt a cautious approach. The Sensex fell by 103.16 points to reach 82,467.75 during early trading, while the Nifty 50 decreased by 56.75 points to stand at 25,139.05. Sagar Doshi from Nuvama anticipates that Nifty 50 will exhibit a rangebound trade between 25,000 and 25,300. Doshi recommends three stocks to buy today. Here's what he says about the overall market. Nifty 50 has reclaimed above its previous day's high after taking support at the psychological 25,000 mark. The index faced pressure on the first trading day of this week as it continued to slide with initial downside target of 25,000 has been met and fresh upside opens up only on further closing above 25,325. So for the balance of this week, a rangebound trade between 25,000 – 25,300 is expected to unfold. Bank Nifty on the other hand ended at a 4 day closing high after it did not close below its immediate support of 56,750 for 2 consecutive days despite being challenged in intraday trades. Only a close below 56,750 is going to allow further downside on the index marking a temporary pause to this outperformance in the index. Hence, view remains outperformance against Nifty 50 and a slow path northwards to make a fresh all time high. On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Voltas Ltd, Samvardhana Motherson International Ltd, and JK Tyre & Industries Ltd. Voltas share price has ended at the highest point for the current fiscal despite media reports of A/C demand not growing as the markets continue to price in limited downside from current levels on the stock. Technically, the stock has broken out from its 3 month sideways consolidation and is now headed for a 6-8% rally. With Samvardhana Motherson share price giving a fresh crossover above its 200 DMA resistance, on daily charts the pattern suggest a bullish head and shoulder pattern formation along with a short term pole and flag pattern breakout already seen on the same. Momentum is likely to pick up above 159 on the stock. 6 week long consolidation is now nearing an end on charts of JK Tyre share price as the stock has been on the verge of multiple breakouts. A bullish pole and flag pattern breakout is already confirmed on daily charts while a strong trendline breakout which has been in place for the past 18 months now is now being challenged due to the tailwind thrust by its ongoing breakout. Charts are likely to open up for a larger target once the stock sustains above 385, however for now we are eyeing for a 9-11% style rally from CMP. 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
25-06-2025
- Business
- Mint
Stock Picks: Sagar Doshi suggests Coromandel, Cummins India, BHEL shares to buy today
Stock market today: India's key stock indexes began higher on Wednesday, drawing positive momentum from global markets due to improved outlook as tensions in the Middle East subsided following a delicate ceasefire between Israel and Iran. The Nifty 50 gained 0.42%, reaching 25,150.35 points, while the Sensex increased by 0.48% to 82,448.8 as of 9:15 IST. Domestically, both indexes approached their nine-month intraday peaks on Tuesday but faced profit-taking when news of an initial ceasefire breach emerged. Nevertheless, both Iran and Israel indicated that their air conflict has ceased, at least temporarily, after US President Donald Trump publicly reprimanded them for violating the ceasefire he had declared. In the volatile market, Sagar Doshi of Nuvama Professional Clients Group recommends three stocks - Coromandel International Ltd, Cummins India Ltd, and Bharat Heavy Electricals Ltd (BHEL). Here's what he says about the overall market. Nifty 50 ended marginally higher even after a ceasefire news between Iran and Israel as the index saw profit taking in its ongoing monthly expiry week after hitting a fresh 8 month high. Support of 24,800 remained unscathed in volatility of past 2 days. Targets for 500 pt upside have opened up on Nifty 50 as it has reclaimed its resistance of 25,050 last week. Both blends of crude have also been trading over 10% lower from the start of this week allowing further positive rub off effect on Indian markets. Bank Nifty as we'll mirrored its move on Nifty 50 as both indices gave a break on the upside after an inside bar formation earlier this week. A 1000+ points in likely to play out as Bank Nifty closed above the 56,200 resistance on daily and weekly charts on Friday. Support of 55,400 remained unscathed in yesterday's volatility allowing further room for the index to hit all-time highs. On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Coromandel International Ltd, Cummins India Ltd, and Bharat Heavy Electricals Ltd (BHEL). Coromandel International share price has counter gained over 27% YTD versus a dull market and has yet again given a bullish pole and flag pattern breakout. This breakout also confirms an end to the ongoing 4-week corrective consolidation we saw on charts for targets of new all-time highs on the stock. Cummins India share price has given a breakout from its 1 year corrective trendline. Multiple retests on this breakout now confirm the strength of the same support by a 200 DMA dynamic support indicating the trend to shift upwards. Targets are likely to be 10-12% higher from CMP. BHEL share price has been experiencing strong momentum from the start of this quarter, an inverse head and shoulder formation is seen on weekly charts which is set for a breakout on the bullish side allow prices to gain further from here on as well. 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
18-06-2025
- Business
- Mint
Stock Picks: Sagar Doshi suggests Kaynes Technology, Mahanagar Gas, Hero MotoCorp shares to buy today
Stock market today: Indian stock markets commenced trading with a downward trend on Wednesday as geopolitical tensions between Israel and Iran extended into the sixth day, with concerns regarding potential US involvement heightening investor anxiety. The Nifty 50 began at 24,797.15, dipping by 65.05 points or 0.26%, while the BSE Sensex dropped 269 points to open at 81,313.9, reflecting a decline of 0.33%. Geopolitical strains intensified when US President Donald Trump demanded an "unconditional surrender" from the Iranian government, a demand that Iran has dismissed. Israel, reportedly achieving several of its military goals rapidly, is believed to have air superiority over Iran. Nonetheless, Iran's missile capabilities still present a significant threat, and the conflict is increasingly viewed as a test of resilience. Even with the loss of important military and nuclear figures, Iran's nuclear sites remain mostly untouched, and the nation is anticipated to continue its resistance. Sagar Doshi of Nuvama Professional Clients Group recommends three stocks - Kaynes Technology, Mahanagar Gas, Hero MotoCorp. Here's what he says about the overall market. Nifty 50 has again entered a consolidation zone after defending to break below its support of 24,650 in Friday's trading session. Index view continues to show signs of remaining within this range of 24,650 - 25,050. Unless a closing on either side of this range is not confirmed - Nifty 50 can remain rangebound post which a 500 pt directional trade opens up in the direction on breakout. Bank Nifty as well inched towards the higher end of its developed range between 55,400 - 56,200. This is in sync with Nifty as the index managed to hold its neck above the support of 55,400-55,500 in last week's closing. Breakout on either side is likely to push for a 1000 pt move. On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Kaynes Technology, Mahanagar Gas, and Hero MotoCorp shares. Kaynes Technology share price is showing early signs of reversal from its 200 DMA support after a recent 20% correction witnessed in last one month. This support is also insync with a 50% retracement seen between rally of February lows to highs of May 2025. Charts suggest a 10-15% rally unfolding in short term. Seven month high closing has been witnessed on charts of Mahanagar Gas share price along with a breakout above its 200DMA. This is marking an end to a 6 month sideways trend observed on the stock for a quick breather rally northwards suggesting 6-8% higher targets. Having run up nearly 30% from its recent low in March – Hero MotoCorp share price is now on verge of breaking out from an inverse head and shoulder pattern formation for fresh upside retesting its December 2024 highs. A bullish flag breakout is about to commence for targets aimed 10% higher from CMP. 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.
