Stay updated with breaking news from Share market tips. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Private banks are clearly available at an extremely lucrative valuation right now, says Santosh Joseph of Refolio Investments and Germinate Investor Services LLP
Only global macro factors like higher US inflation numbers, a sudden increase in oil prices or a major correction in Nasdaq 100 can derail the rally in Indian markets, he says.
Glenmark Pharma formed bullish candlestick pattern on the daily scale with above average volumes. The stock showed nice recovery in last four days after falling closer to 200-day EMA, and now traded above all key moving averages.
The daily bullish candle and the hourly chart's pattern of higher-highs, higher-lows affirms the robust outlook, with the next rally potentially targeting the 22,300-22,350 range
JBM Auto formed a robust bullish candlestick pattern on the daily charts with significantly higher volumes, after several weeks of consolidation. The stock traded above all key moving averages.
On the corporate earnings front, Krishnan thinks that margin expansion due to raw material prices cooling off will likely wane as a driver, hence topline growth will be key to driving earnings growth. And topline growth has been patchy, with few sectors like consumption, displaying weakness.
SBI Life Insurance Company ended at new closing high and formed strong bullish candlestick pattern with healthy volumes on the daily timeframe, after a decisive breakout of horizontal resistance trendline.