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Mint
15 hours ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 30 ahead of US Fed policy
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to see a tepid opening on Wednesday, tracking mixed cues from global markets. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,825 level, a discount of nearly 13 points from the Nifty futures' previous close. On Tuesday, the domestic equity market witnessed fag-end short-covering and ended higher, with the Nifty 50 closing above 24,800 level. The Sensex rallied 446.93 points, or 0.55%, to close at 81,337.95, while the Nifty 50 settled 140.20 points, or 0.57%, higher at 24,821.10. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sesex saw an intraday reversal formation after a long correction, coupled with a bullish candle on the daily charts, indicating a further uptrend from the current levels. 'Technically, the chart reveals a resistance zone between 82,500 and 82,700. The price action remains constrained within this range, and a breakout above resistance could lead to fresh highs. However, if Sensex fails to sustain above 80,400 – 80,500, we may see selling pressure resume. The bullish close and strong intraday recovery signal growing confidence, possibly fueled by earnings optimism and short-term institutional buying,' said Om Ghawalkar, Market Analyst, According to him, if Sensex breaks and holds above 82,000, it could aim for the all-time high of 86,000. On the downside, 80,000 remains critical as it also acts like a psychological support. On the options front, the highest Call open interest (OI) for Nifty is seen at the 25,000 and 25,200 strike prices, highlighting potential resistance. On the Put side, the highest open interest is concentrated at the 24,800 strike, suggesting strong support. Together, the technical setup and derivative data signal a potential upside continuation as long as key support levels are held, said Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking. Nifty 50 rebounded after three sessions of decline and ended higher on July 29, forming a bullish 'Engulfing' candlestick pattern on the daily chart. 'Although the rebound provided a temporary pause to the decline, the Nifty 50 continues to trade below the 50-Day SMA (25,050) and the 20-day EMA (25,180), indicating ongoing short-term weakness. The RSI has edged up to 42, recovering modestly from oversold territory, but remains well below its signal line and under the neutral 50 mark. The daily Super trend is capping barriers within the broader trend,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, the immediate resistance is now seen at 25,000, followed by 25,100, which aligns with the short-term moving averages and the median of the recent decline. 'These levels must be crossed decisively to consider any reversal. On the downside, 24,470 remains the key support level; a breakdown below this may extend further weakness,' Mehra said. Om Ghawalkar noted that the rebound in Nifty 50 follows the formation of a three black crows pattern, a well-known bearish continuation signal in technical analysis, which had indicated increasing selling pressure. 'Nifty 50 found strong support in the 24,550 to 24,650 range, where it formed a bullish Marubozu candlestick. This type of candlestick often suggests aggressive buying and indicates that bulls may be re-entering the market with conviction. We can see that a short-term reversal may be in the making, particularly if the Nifty 50 can open and sustain above the 24,850 mark in today's trading session,' said Ghawalkar. A move above this level could signal the start of a renewed uptrend and encourage further participation from traders and investors, he added. VLA Ambala, Co-Founder of Stock Market Today highlighted that the Nifty 50 index found support at the 20-week EMA, however, the outlook for swing trading remains 'sell on rise', as the Nifty's RSI stands at 52 on the weekly timeframe. 'This suggests that any upward spike can be seen as a selling opportunity from a trading perspective. We can expect Nifty 50 to gain support between 24,600 and 24,520, and meet resistance near 24,850 and 25,080 in today's session,' Ambala said. Bank Nifty index ended 137.10 points, or 0.24%, higher at 56,222.00, closing above its 50-day EMA. 'Bank Nifty index formed a bullish engulfing candlestick pattern on the daily chart and managed to close above the 56,200 mark, indicating emerging strength. If the index manages to hold yesterday's low of 55,843, a pullback rally could extend towards 56,700 and 57,300 levels,' said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. He advises traders to follow a buy-on-dips strategy in Bank Nifty as long as it holds above 55,843 levels. Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities believes the support zone of 55,800 – 55,700 for Bank Nifty will be crucial to watch, as holding above this band is essential to maintain the current short-term positive bias. 'On the flip side the resistance zone of 56,500 – 56,600 is expected to pose a significant challenge. A decisive and sustainable breakout above the 56,600 level could pave the way for an extended pullback rally with immediate upside targets at 57,000 followed by 57,500 in the near term,' Shah 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.
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Business Standard
15 hours ago
- Business
- Business Standard
Nifty key levels to watch on July 30; Check top stock picks for today
The Nifty's close near the day's high resulted in a bullish 'engulfing' candlestick pattern on the daily chart Mumbai Nifty outlook Breaking a three-session losing streak, the Nifty gained 140 points (0.57 per cent) to close at 24,821. After opening 71 points lower, the index immediately reversed course, staging a recovery of almost 250 points from its early morning low of 24,598 to reach 24,847. The Nifty's close near the day's high resulted in a bullish 'engulfing' candlestick pattern on the daily chart. Consequently, previous day's low of 24,598 now establishes itself as a new support level for the Nifty. In the short term, 24,882 and 25,000 are identified as crucial hurdles on the upside. Stocks to buy: Stock price has formed a bullish engulfing candlestick pattern on the daily chart. The price rise was accompanied by a jump in volumes on intraday charts. The stock price has taken support on a 200 double exponential moving average (DEMA). Daily RSI has reached above 40, indicating a sustainable up trend. Stock price has formed a bullish 'piercing line' candlestick pattern on the daily chart. The price rise was accompanied by a jump in volumes. The stock price has surpassed 50 DEMA resistance. The stock price has formed a strong base near long-term trend line on the monthly chart. Indicators and oscillators like MACD and RSI have turned bullish on the daily chart.
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Business Standard
16 hours ago
- Business
- Business Standard
Nifty, Bank Nifty outlook; Polycab, PI Industries among top stocks to buy
Nifty Outlook Nifty index opened on a negative note and immediately dipped to 24,600 zones, after which the index staged a massive recovery throughout the day and headed towards 24,850 zones in the last hour of the session. It formed a bullish candle along with a Bullish Engulfing price pattern on daily frame and closed with gains of around 140 points. Now it has to hold above 24,750 zones, for an up move towards 25,000 then 25,100 zones while support can be seen at 24,600 then 24,442 zones. On option front, Maximum Call OI is at 25,000 then 25,200 strike while Maximum Put OI is at 24,800 then 24,700 strike. Call writing is seen at 25,150 then 25,800 strike while Put writing is seen at 24,800 then 24,700 strike. Option data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range between 24,600 to 25,100 levels. Bank Nifty Outlook Bank Nifty index opened on a negative note but remained consolidative in a narrow range of 200 points between 55,800 to 56,000 zones in the first half of the session. Some recovery was seen in the latter part of the session towards 56,300 levels, but it remained choppy as momentum was missing at higher zones. It formed a bullish candle on the daily scale as it closed above its opening levels, but is forming lower highs from the last few sessions. Now it has to hold above 56,000 zones for a bounce towards 56,500 then 56,750 levels while a hold below the same could see some weakness towards 56,000 then 55,750 zones. Stocks to buy today Polycab has reversed its short-term weakness by negating the lower highs–lower lows pattern seen over the last four sessions. The stock remains in a strong overall uptrend and has formed a bullish candle on the daily chart, consistently taking support at the 20 DEMA. The RSI is on the verge of a bullish crossover, indicating strengthening momentum that may fuel further upside. Buy Jio Financial Services| CMP:₹321| Stop-loss:₹311| Target:₹340 Jio Finance has successfully retested its breakout zone on the daily chart and resumed its upward trajectory. A bullish marubozu candle on the daily scale signals strong buying interest and complete control by bulls. In addition, the MACD is showing a positive setup, supporting the ongoing bullish momentum. Buy PI Industries| CMP:₹4,249| Stop-loss:₹4,100| Target:₹4,550 PI Industries is poised for a potential breakout above the 4275 resistance zone, backed by a strong bullish candle surge in trading volumes. The stock structure remains positive, with RSI indicating bullish strength. A confirmed breakout could lead to a swift move toward higher targets.
Mint
16 hours ago
- Business
- Mint
Best stock recommendations today: MarketSmith India's top picks for 30 July
On Tuesday, the Nifty 50 gained 0.57% amid a volatile session, rebounding after a three-day losing streak. The recovery was fueled by bargain buying in quality stocks, including Reliance Industries, along with strong Q1 earnings from key companies such as Asian Paints and Larsen & Toubro. Despite lingering concerns over the US-India trade negotiations and persistent foreign outflows, renewed domestic buying interest and improved risk sentiment supported a broad-based rally, helping the index close on a positive note. Two stock recommendations by MarketSmith India: Jio Financial Services Ltd (current price: ₹321.10) Why It's recommended: Rapid revenue expansion and diversification, business scale-up, and ecosystem leverage. Key metrics: P/E: 125.59 | 52-week high: ₹ 363 | Volume: ₹848 crore Technical analysis: Trending above all its key moving averages, 50-DMA bounce back, strong institutional holding. Risk factors: Valuation concern and execution pressure, intense competition, regulatory hurdles, and cost escalation. Buy: ₹310-320 Target price: ₹380 in two to three months Stop loss: ₹298 Biocon Ltd (current price: ₹397.95) Why it's recommended: Stable biosimilar performance, subsidiary Syngene showing strong growth, and robust research and development. Key metrics: P/E: 47.06 | 52-week high: ₹406 | Volume: ₹217 crore Technical analysis: Trending above all its key moving averages, cup-with-handle pivot breakout. Risk factors: Weak underlying profitability, structural pressure in generics and research services segments, execution risk, high operating leverage. Buy at: ₹380-395 Target price: ₹454 in two to three months. Stop loss: ₹368 How Nifty 50 performed on 29 July On Tuesday, the Nifty opened on a weak note but recovered steadily throughout the session, closing near the day's high. This intraday rebound led to the formation of a bullish engulfing candle on the daily chart, indicating a potential reversal. All major sectoral and broader market indices ended in positive territory. Notably, realty, pharma, metal, and energy sectors outperformed, while IT stabilized and closed flat. Market breadth improved significantly, with the advance-decline ratio turning positive and settling at 2:1. From a technical standpoint, the index found support near 24,600 and staged a recovery from the day's low. Despite the rebound, it continues to trade approximately 0.90% below its 50-DMA, indicating a prevailing negative bias. The relative strength index (RSI) has begun to tilt upward, suggesting a slight improvement in momentum. However, it remains within the bearish zone. Additionally, the MACD continues to trade below the central line with a negative crossover, reinforcing the cautious near-term outlook. According to O'Neil's methodology of market direction, market status has been downgraded to an "Uptrend Under Pressure" as the Nifty breached its "50-DMA" and the "distribution day count" rose to five. The Nifty 50 found support near 24,600 on Tuesday and ended the session with a positive bias, closing near the day's high. Looking ahead, the price zone of 24,600-24,480 will be crucial, as it represents a strong support area that could anchor any near-term pullbacks. On the upside, immediate resistance is seen at 25,000, followed by 25,300. A sustained move beyond these levels will be essential to confirm a bullish continuation. How Nifty Bank performed yesterday On Tuesday, the Nifty Bank opened on a weak note but recovered steadily throughout the session. It closed near the day's high and formed a bullish candlestick on the daily chart. Both private and PSU Banking indices ended in positive territory, with the recovery largely driven by strength in HDFC Bank. FINNIFTY index also traded with a positive bias, gaining 0.32% and forming another bullish candle on the daily chart, reflecting improved sentiment across the broader financial space. Technically, the Nifty Bank continues to trade below its 50-DMA and closed beneath it on Tuesday, reflecting sustained short-term weakness. The relative strength index (RSI) has turned upward and is currently positioned around 45, indicating a modest improvement in momentum. However, the MACD remains in a negative crossover, suggesting upside strength is limited. Despite this, according to O'Neil's methodology of market direction, the Nifty Bank remains in a 'Confirmed Uptrend,' a status it has maintained consistently over the past several weeks. This major sectoral index continues to trade in a sideways pattern, remaining range-bound between 55,800 and 57,500 over the past few weeks. On the downside, 55,800 serves as a critical support level. A decisive breach below this zone could lead to further weakness toward 55,200-55,000. On the upside, immediate resistance is placed near 56,400. A sustained breakout above this level could open the door for a move toward 57,000-57,500. Until then, the index is likely to remain choppy and directionless in the near term. MarketSmithIndia is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O'Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 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.
Yahoo
a day ago
- Business
- Yahoo
Should You Buy Palantir Stock Ahead of Q2 Earnings on August 4?
Palantir Technologies (PLTR) will release its second-quarter earnings on Monday, Aug. 4. Ahead of its earnings, the AI-powered software company reached an all-time high price of $160.39 on July 25, reflecting widespread investor optimism as it headed into Q2 results. PLTR is up 106.5% year-to-date, significantly outpacing the broader S&P 500 Index ($SPX). This explosive rally has pushed Palantir's 14-day Relative Strength Index (RSI) to 65.30, just below the 70 threshold that typically signals overbought conditions. While some investors might see this as a warning sign, the market seems undeterred. The momentum behind Palantir remains strong, with buyers continuing to push the stock higher even as valuation metrics soar to dizzying heights. More News from Barchart Tesla Just Signed a Chip Supply Deal with Samsung. What Does That Mean for TSLA Stock? Here's What Happened the Last Time Novo Nordisk Stock Was This Oversold Dear Microsoft Stock Fans, Mark Your Calendars for Aug. 1 Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Palantir is currently trading at eye-popping valuation levels, with a forward earnings multiple of 433.88x and a price-sales ratio of 130.8x. These numbers are significantly higher than those of major tech giants, including Nvidia (NVDA). Such a rich premium indicates that the market isn't just expecting strong results, it's effectively pricing in continued acceleration in growth. However, any earnings miss or signs of a moderation in growth could challenge this narrative and trigger volatility. The options market is already reflecting some of this volatility. Traders are pricing in a potential move of about 10.48% in either direction following the earnings release. While that's below Palantir's average earnings move of 17.47% over the past four quarters, it still indicates potential for significant post-earnings volatility. Palantir Gears Up for a Strong Q2: Can It Beat Expectations Again? Palantir is heading into its second-quarter earnings with strong momentum. The company's management has guided Q2 revenue between $934 million and $938 million, representing roughly 38% year-over-year growth at the midpoint. However, based on its recent performance trends and growing demand for its Artificial Intelligence Platform (AIP), there's reason to believe Palantir might once again exceed its projections. Over the past year, Palantir has shown consistent acceleration in its revenue growth. In Q1 2024, year-over-year growth stood at 21%, but by Q1 2025, it had climbed to an impressive 39%. Much of this momentum is being driven by surging demand for its AI-powered solutions, particularly in the U.S. market. The company's U.S. operations are thriving across both commercial and government sectors. In Q1, U.S. revenue jumped 55% compared to the previous year, with the commercial segment standing out with 71% year-over-year growth. That builds on a 64% gain in U.S. commercial revenue the quarter before, highlighting sustained demand for Palantir's AI offerings. Palantir's U.S. commercial business has now surpassed a $1 billion annual run rate, driven by new customer wins and deepening engagement with existing clients. The total contract value (TCV) booked in this segment reached $810 million in Q1, up 183% from a year earlier. This number could once again mark solid growth in Q2. Over the trailing 12 months, Palantir has secured over $2 billion in U.S. commercial TCV. Furthermore, the remaining deal value in this business increased 127% year-over-year, indicating a robust pipeline that will support future growth. Customer growth also remains solid. Palantir now serves 432 U.S. commercial clients, representing a 65% increase from the same quarter last year, and has doubled the number of million-dollar deals compared to the same period a year ago. The U.S. government business, too, will remain a major contributor in Q2. Notably, in Q1, revenue from this segment rose 45% to $373 million, reflecting continued success in securing and expanding AI-related government contracts. While top-line growth is strong, Palantir is also gaining ground on the bottom line. The company's operating leverage is improving, with adjusted operating margins reaching 44% in Q1, an 800-basis-point increase from the prior year. That strength is expected to continue into Q2, helping to drive further earnings growth. Analysts are forecasting PLTR to deliver earnings per share (EPS) of $0.08 for the second quarter, a significant increase from $0.03 a year ago. With its expanding commercial footprint, deepening government relationships, and surging demand for AI solutions, Palantir appears well-positioned for another quarter of strong performance. Is Palantir Stock a Buy? Palantir heads into its Q2 earnings report with strong momentum, particularly in its U.S. commercial and government segments, and growing demand for its AI platform. The company has shown a clear trend of accelerating revenue growth and improving profitability, setting the stage for potentially strong Q2 results. Despite the solid momentum in Palantir's business, Wall Street remains cautious ahead of Q2 earnings. The consensus rating on the stock is 'Hold,' primarily due to its steep valuation. Palantir may be delivering the growth, but at current prices, it's already priced to perfection. On the date of publication, Amit Singh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
