BEST STOCK FUTURE TIPS

Wednesday, January 4, 2023

RETURN OF THE BEARS

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Investors remained cautious ahead of the outcome of the FOMC minutes and US manufacturing PMI data later tonight, causing the benchmark indices in India to fall 1% on January 4 and the Nifty to fall below 18,100. The market opened flat with a negative bias and extended the selling as the day progressed, with the Nifty and BSE Sensex touching an intraday low of 18,020.60 and 60,593.56. JSW Steel, Hindalco Industries, Coal India, Tata Steel, and ONGC were among the top losers on the Nifty. At close, the Sensex was down 636.75 points, or 1.04%, at 60,657.45, and the Nifty was Divis Labs, Maruti Suzuki, HDFC Life, Dr. Reddy's Laboratories, and UltraTech Cement, on the other hand, made gains. The Nifty metal index decreased by 2%, the PSU Bank index decreased by 1.8%, the Nifty Energy index decreased by 1.5%, and the Nifty Bank, Information Technology, and Infrastructure indices each decreased by 1%. Among individual stocks, a volume spike of more than 300 percent was observed in Chambal Fertilisers and Chemicals, Petronet LNG, and PVR. A short build-up was observed in Hindalco Industries, Balrampur Chini Mills, and JSW Steel, while a long build-up was observed in Havells India, GNFC, and HPCL. All of the sectoral indices ended in the red, with the metal index losing nearly 3% and the information technology.

OUTLOOK FOR TOMORROW:- For yet another session, the Nifty encountered resistance near the primary daily moving averages and a rising trendline. The index plunged sharply toward 18,000 as a result. The bulls were successful in preserving the crucial psychological level for the day. The Nifty could once more surge toward 18,250-18,300 if it does not fall below 18,000 on the downside. The Nifty, on the other hand, will be able to move further toward the lower end of the short-term consolidation, which is 17,800, if it breaches 18,000.

A LOOK AT THE STOCKS OF RBL BANK & APOLLO TYRES

After rising for two consecutive sessions, domestic indices traded lower on Wednesday. Sensex decreased by 176 points, or 0.29%, to 61,119, while the Nifty decreased by 63 points, or 0.35%, to 18,169. Heavyweights in the index like Reliance Industries, Infosys, HDFC, and TCS led the weakness.
BUY RBL BANK FUT 2 LOTS ABOVE 185 TARGET 188.50/192 SL 170
Since it has been rising in a bullish channel formation for the past seven months, the counter is in a classic uptrend. The counter's structure is very profitable because it trades above its crucial moving averages and has higher highs and lower lows. It has formed a bullish three white soldiers candlestick pattern on the longer time frame, indicating significantly more upside potential for this counter. The force pointer RSI is exchanging over the 60 imprint with a positive predisposition, while MACD is seeing a centerline hybrid. Positively, Rs. 190 will act as an immediate support; Above this, we can anticipate a significant move up to Rs 234 levels, while the major support during any correction is Rs 167 on the downside.

BUY APOLLO TYRES FUT 2 LOTS ABOVE 322 TARGET 328/336 SL 310
After making a new all-time high and beginning a new uptrend toward Rs 340 levels, the stock has retested its previous breakout level of Rs 302.Positively, Rs. 340 is a vulnerable area; Above this level, we can anticipate a rise to 354 levels in the near future. Negatively, Rs. 303 is significant support during any correction. The momentum indicator RSI is also poised in a positive direction, while the MACD (moving average convergence divergence) is supporting the current strength.
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Tuesday, January 3, 2023

STOCK MARKET OUTLOOK FOR TOMORROW 4 JAN 2023

The market ended higher today for the second day in a row, with the Sensex rising 126.41 points, or 0.21% , to 61,294.20 and the Nifty rising 35 points, or 0.19 % to 18,232.50. Both of these markets ended higher.The market remained flat with a positive bias for the majority of the session, following a muted start. However, it closed the session close to the day's highs despite some profit booking during the intraday.The domestic market shifted its focus toward the Q3 earnings season, which is scheduled to begin this week, in the absence of major economic triggers. IT and banks will take center stage in the coming days as the market trend will be determined by the early signals from sector majors. Banks' initial quarterly business results revealed solid business traction supported by robust loan growth.