After breaking out of rounding bottom formation, the stock has retraced till its 20-day moving average and showing signs of life again. Prices are trading above all its short term and medium term moving averages ribbon and momentum indicators are trading in a bullish zone. The short term moving averages are developing a positive curve after a phase of mild correction suggests that reversal after retracement can be expected in the counter. There is a formation of higher top and higher bottom on weekly as well as monthly charts. The daily RSI is bouncing back from important support levels indicates that short term up move can be expected in the counter. Traders can accumulate it at the current market price (CMP) and on any dip till Rs 4,650 with the short term perspective. … [Read more...] about Selling expected on any rise in market; these 3 stocks could fetch 10-15% return
Buy low and sell high
Society of Indian Automobile Manufacturers (SIAM) data shows that wholesale volumes (those bought by dealers) of PVs closed 215,916 units in August. The sales data does not have passenger vehicle numbers of Tata Motors since the company stopped sharing numbers since March-end. … [Read more...] about Car, SUV sales hit high gear in Aug; bikes, scooters scrape through
Over the past two years, mutual funds (MFs) have started offering a wider range of ETFs: smart-beta products, mid-cap, sectoral and those linked to the US markets. In August, HDFC MF floated a banking ETF. ICICI MF rolled out an ETF focusing on the information technology (IT) sector and also an Alpha Low Vol 30 ETF in August. … [Read more...] about Investors take to ETFs as fund houses serve a wider spread
“As of now, Nifty is trading at a P/E close to 32x, which is almost a decade high valuation, hence, the risk-reward ratio may not be favorable. I am not a big fan of predicting numbers for the index, as we have seen in the past, at times the index remains flat, but individual stocks do very well,” says Jain of Ashika Wealth Advisors. … [Read more...] about Market cap-to-GDP ratio moves above long period average; time for caution?
US Senate Republicans to propose $300 billion coronavirus aid bill Customers buying high-value products through credit card EMIs at all-time high: HDFC Bank Societe Generale buys 0.7% stake in Strides Pharma, Mayfield XII Mauritius offloads 4.8% shares in Tejas Networks … [Read more...] about Copper futures down 0.64% to Rs 519 per kg in evening trade