Trade Spotlight | What should you do with Dr Lal PathLabs, PNB Housing Finance, Navin Fluorine, and HCL Technologies?

#Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, #Trade Spotlight

The market rebounded amid volatility after a day of big sell-off and managed to close with moderate gains on November 29. The BSE Sensex climbed more than 150 points to close at 57,260, and the Nifty50 rose 27 points to end the session above 17,050 levels.

The broader markets hit quite badly as the Nifty Midcap 100 and Smallcap 100 indices have fallen 1.35 percent and 2.61 percent, respectively.

Stocks that were in focus include Dr Lal PathLabs, which was the top gainer in the futures and options segment, rising 6.24 percent to close at Rs 3,885.45, and PNB Housing Finance which was locked in 5 percent upper circuit at Rs 524.55.

Navin Fluorine International and HCL Technologies were also in focus, rising more than 2 percent each to close at Rs 3,550.10 and Rs 1,133.15, respectively.

Here’s what Karan Pai of GEPL Capital, recommends investors should do with these stocks when the market resumes trading today:

Dr Lal PathLabs on the monthly time frame can be seen moving higher after a two-month correction. On the weekly time frame, we can see the prices moving out of a six-week correction and also above the 20-week SMA (simple moving average).

On the indicator front, the RSI (relative strength index) plotted on the weekly chart can be seen moving higher towards the overbought level, indicating increasing bullish momentum in the prices.

Looking at the price action and the technical parameters mentioned above, we expect Dr Lal PathLabs to move higher immediately towards the previous swing high of Rs 4,243, after which we might see the prices test Rs 4,538.

Dr Lal PathLabs seems to be a good buying candidate with upside targets of Rs 4,243 and Rs 4,538, we recommend a stop-loss level of Rs 3,718 for this setup.

#Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, #Trade Spotlight

PNB Housing Finance has been in a corrective phase for the past couple of weeks. This correction took the prices from Rs 925-443. In the week started November 22, the prices formed a strong bullish candle and engulfed the move of the past two weeks.

The RSI plotted on the weekly time frame can be seen moving higher towards the 50 level after forming a bullish hinge near the 40 mark, indicating increasing bullish momentum in the trend.

The price action points towards the possibility of increasing momentum and the prices moving towards Rs 633 which also happens to be placed near the 20-Week SMA. If the prices sustain above Rs 633 mark, we might see the prices move towards Rs 740 and eventually towards Rs 925.

Investors can accumulate PNB Housing at this point and hold with a target of Rs 740 and Rs 925 and maintain a stop loss of Rs 440 on closing basis.

#Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, #Trade Spotlight

Navin Fluorine has been forming a higher high higher low pattern since June 2020. On the weekly chart, we can see that the prices have been moving in a consolidation for the past five weeks. The prices are placed at the brink of a breakout.

On the indicator front, the RSI plotted on the weekly chart can be seen forming a higher high pattern as the prices reach near the point of a breakout, indicating increasing bullish momentum in the trend.

Going ahead, we can expect the bullish momentum to accelerate only if the prices breach above the Rs 3,709, after which we can expect the prices to move higher towards Rs 4,040 followed by Rs 4,224.

Our bullish view will be negated if the prices breach below the Rs 3,370. We also recommend this level to be a strict stop loss level on closing basis.

#Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, #Trade Spotlight

HCL Technologies has been going through a corrective phase for the past couple of sessions. In the week started November 22, the prices tested a low of Rs 1,090, after which some buying interest was seen. The buying pressure continued even on November 29, 2021 and the prices move higher and ended near the previous week high.

On the indicator front, the RSI can be seen forming a bullish hinge near the 50 mark and is trying to move higher towards the overbought level, indicating increasing bullish momentum in the trend.

Going ahead, Rs 1,170, the 20-week SMA will act as a hurdle. If the prices breach and sustain above this level, we might see the prices move higher towards the Rs 1,256-Rs 1,275 followed by Rs 1,378.

On the downside the support is placed at Rs 1,053 mark will act as a stop loss level.

#Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, #Trade Spotlight

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

News Related

OTHER NEWS

Report: Anti-corruption fight is stalled, COVID not helping

The Associated PressFILE – An American flag flies over Capitol Hill in Washington, Sept. 6, 2016. The United States dropped out of the top 25 for the first time to ... Read more »

EXPLAINER: Supreme Court takes up race in college admissions

The Associated PressFILE – An American flag waves in front of the Supreme Court building on Capitol Hill in Washington, on Nov. 2, 2020. The Supreme Court on Monday agreed ... Read more »

EXPLAINER: What are US options for sanctions against Putin?

The Associated PressPentagon spokesman John Kirby speaks during a briefing at the Pentagon in Washington, Monday, Jan. 24, 2022. The Pentagon says that Defense Secretary Lloyd Austin has put about ... Read more »

The best places to eat in Bangkok: a food guide to the Thai capital

Bangkok revels in its status as a culinary mecca. From wizened street vendors who perform alchemy with sizzling woks to whiz-kid chefs who are shaping the fine dining scene, the ... Read more »

Companies continue to fly less, but KLM assumes ‘sustainable recovery'

The ambition of multinationals to fly less for business is still very much alive. Large companies such as ING, ABN Amro and Arcadis are aiming to halve the number of ... Read more »

China drafts new rules to allow gene edited crops to overhaul seed industry

China has published trial rules for the approval of gene-edited plants, paving the way for faster improvements to crops. The new guidelines, published by the Ministry of Agriculture and Rural ... Read more »

Indian rupee slips 7 paise to 74.67 against US dollar in early trade

Representative image The rupee declined 7 paise to 74.67 against the US dollar in opening trade on Tuesday weighed down by the strength of the American currency and muted domestic ... Read more »

East Delhi MP Gautam Gambhir tests positive for COVID-19

The Gautam Gambhir Foundation was found to be ‘unauthorisedly’ stocking and giving the drug to COVID-19 patients. Lok Sabha member from East Delhi Gautam Gambhir on Tuesday said he has ... Read more »

Maruti Suzuki Q3 results preview – A better quarter sequentially, but not completely out of the rut

Maruti Suzuki India, India’s largest passenger vehicle manufacturer, is expected to report a sharp drop in profit from a year ago when it declares its third-quarter results on January 25. ... Read more »

Lured by instant loans from fintechs? Avoid these 10 mistakes

Representative image Gaurav Jalan Since instant digital loans are relatively easy to procure these days, a person under financial pressure may be tempted to take one without thinking things through. ... Read more »

Australia PM Scott Morrison loses control of WeChat Chinese account as election looms

A little-known Chinese technology company that took over a WeChat social media account set up for Australia‘s Prime Minister Scott Morrison said on Monday it wanted to buy an account ... Read more »

Sensex, Nifty stage sharp recovery led by metals, telecom, power, financials and pharma

Sensex and Nifty recovered from a fall of over 1000 points each in the morning amid mixed global cues, as metals, telecom, power, financials and pharma stocks bounced back on India’s ... Read more »

After the recent volatility, what should investors in cryptocurrencies do?

Sidharth Sogani Just last week, 44-year-old Changpeng Zhao, CEO of cryptocurrency exchange Binance, became one of the richest persons in the world with a net worth of $96.9 billion. However, ... Read more »

Ramco Cements Consolidated December 2021 Net Sales at Rs 1,552.50 crore, up 15.52% Y-o-Y

Reported Consolidated quarterly numbers for The Ramco Cements are: Net Sales at Rs 1,552.50 crore in December 2021 up 15.52% from Rs. 1,343.89 crore in December 2020. Quarterly Net Profit ... Read more »

North Korea appears to have fired cruise missiles

North Korea fired what appeared to be two cruise missiles into the sea off its east coast earlier on Tuesday, Yonhap news reported citing military sources, days after a flurry ... Read more »

Indo Amines Consolidated December 2021 Net Sales at Rs 211.57 crore, up 48.79% Y-o-Y

Reported Consolidated quarterly numbers for Indo Amines are: Net Sales at Rs 211.57 crore in December 2021 up 48.79% from Rs. 142.19 crore in December 2020. Quarterly Net Profit at ... Read more »

Zensar Tech Consolidated December 2021 Net Sales at Rs 1,102.50 crore, up 17.99% Y-o-Y

Reported Consolidated quarterly numbers for Zensar Technologies are: Net Sales at Rs 1,102.50 crore in December 2021 up 17.99% from Rs. 934.41 crore in December 2020. Quarterly Net Profit at ... Read more »

Deepak Nitrite Consolidated December 2021 Net Sales at Rs 1,722.27 crore, up 39.49% Y-o-Y

Reported Consolidated quarterly numbers for Deepak Nitrite are: Net Sales at Rs 1,722.27 crore in December 2021 up 39.49% from Rs. 1,234.69 crore in December 2020. Quarterly Net Profit at ... Read more »

Mahindra EPC Consolidated December 2021 Net Sales at Rs 51.13 crore, down 36.66% Y-o-Y

Reported Consolidated quarterly numbers for Mahindra EPC Irrigation are: Net Sales at Rs 51.13 crore in December 2021 down 36.66% from Rs. 80.73 crore in December 2020. Quarterly Net Loss ... Read more »

ICICI Bank Standalone December 2021 Net Interest Income (NII) at Rs 12,236.04 crore, up 23.44% Y-o-Y

Reported Standalone quarterly numbers for ICICI Bank are: Net Interest Income (NII) at Rs 12,236.04 crore in December 2021 up 23.44% from Rs. 9912.46 crore in December 2020. Quarterly Net ... Read more »

Shriram Trans Consolidated December 2021 Net Sales at Rs 4,827.86 crore, up 8.78% Y-o-Y

Reported Consolidated quarterly numbers for Shriram Transport Finance Corporation are: Net Sales at Rs 4,827.86 crore in December 2021 up 8.78% from Rs. 4,438.37 crore in December 2020. Quarterly Net ... Read more »

IEX Consolidated December 2021 Net Sales at Rs 117.54 crore, up 37.91% Y-o-Y

Reported Consolidated quarterly numbers for Indian Energy Exchange are: Net Sales at Rs 117.54 crore in December 2021 up 37.91% from Rs. 85.23 crore in December 2020. Quarterly Net Profit ... Read more »

Yes Bank Standalone December 2021 Net Interest Income (NII) at Rs 1,763.98 crore, down 31.11% Y-o-Y

Reported Standalone quarterly numbers for Yes Bank are: Net Interest Income (NII) at Rs 1,763.98 crore in December 2021 down 31.11% from Rs. 2560.42 crore in December 2020. Quarterly Net ... Read more »

IDBI Bank Standalone December 2021 Net Interest Income (NII) at Rs 2,382.52 crore, up 31.67% Y-o-Y

Reported Standalone quarterly numbers for IDBI Bank are: Net Interest Income (NII) at Rs 2,382.52 crore in December 2021 up 31.67% from Rs. 1809.52 crore in December 2020. Quarterly Net ... Read more »

Parsharti Ind Standalone December 2021 Net Sales at Rs 0.94 crore, up 1706.23% Y-o-Y

Reported Standalone quarterly numbers for Parsharti Investments are: Net Sales at Rs 0.94 crore in December 2021 up 1706.23% from Rs. 0.05 crore in December 2020. Quarterly Net Loss at ... Read more »

Bandhan Bank Standalone December 2021 Net Interest Income (NII) at Rs 2,124.70 crore, up 2.56% Y-o-Y

Reported Standalone quarterly numbers for Bandhan Bank are: Net Interest Income (NII) at Rs 2,124.70 crore in December 2021 up 2.56% from Rs. 2071.7338 crore in December 2020. Quarterly Net ... Read more »

Shriram Transport share price gains even as profit dips in Q3, CLSA upgrades it to 'buy'

Shriram Transport Finance Corporation’s share price rose 4 percent intraday on January 25, a day after the non-banking finance company  (NBFC) reported a 6.4 percent fall in its December quarter ... Read more »

Top 10 stocks that mutual funds exited amidst the recent market fall

Domestic equity markets have been on a downtrend in recent months. Experts attribute the fall to the negative trend in global markets coupled with unabated foreign fund outflows. Taking a cautious ... Read more »

IDBI Gold ETF Standalone December 2021 Net Interest Income (NII) at Rs 2,382.52 crore, up 31.67% Y-o-Y

Reported Standalone quarterly numbers for IDBI Gold ETF are: Net Interest Income (NII) at Rs 2,382.52 crore in December 2021 up 31.67% from Rs. 1809.52 crore in December 2020. Quarterly ... Read more »

IDBI Div 95 Standalone December 2021 Net Interest Income (NII) at Rs 2,382.52 crore, up 31.67% Y-o-Y

Reported Standalone quarterly numbers for IDBI Div I NIT 95 are: Net Interest Income (NII) at Rs 2,382.52 crore in December 2021 up 31.67% from Rs. 1809.52 crore in December ... Read more »

OM Infra Consolidated December 2021 Net Sales at Rs 66.34 crore, up 42.12% Y-o-Y

Reported Consolidated quarterly numbers for OM Infra are: Net Sales at Rs 66.34 crore in December 2021 up 42.12% from Rs. 46.68 crore in December 2020. Quarterly Net Profit at ... Read more »

Sylph Tech Standalone December 2021 Net Sales at Rs 0.01 crore, up 116.67% Y-o-Y

Reported Standalone quarterly numbers for Sylph Technologies are: Net Sales at Rs 0.01 crore in December 2021 up 116.67% from Rs. 0.01 crore in December 2020. Quarterly Net Loss at ... Read more »

Shriram Trans Standalone December 2021 Net Sales at Rs 4,827.86 crore, up 8.78% Y-o-Y

Reported Standalone quarterly numbers for Shriram Transport Finance Corporation are: Net Sales at Rs 4,827.86 crore in December 2021 up 8.78% from Rs. 4,438.37 crore in December 2020. Quarterly Net ... Read more »

S E Power Consolidated December 2021 Net Sales at Rs 12.52 crore, up 58.4% Y-o-Y

Reported Consolidated quarterly numbers for S E Power are: Net Sales at Rs 12.52 crore in December 2021 up 58.4% from Rs. 7.91 crore in December 2020. Quarterly Net Loss ... Read more »

Hilton Metal Standalone December 2021 Net Sales at Rs 25.13 crore, up 7.83% Y-o-Y

Reported Standalone quarterly numbers for Hilton Metal Forging are: Net Sales at Rs 25.13 crore in December 2021 up 7.83% from Rs. 23.31 crore in December 2020. Quarterly Net Profit ... Read more »

PNB Housing Fin Standalone December 2021 Net Sales at Rs 1,482.23 crore, down 20.85% Y-o-Y

Reported Standalone quarterly numbers for PNB Housing Finance are: Net Sales at Rs 1,482.23 crore in December 2021 down 20.85% from Rs. 1,872.77 crore in December 2020. Quarterly Net Profit ... Read more »

Sawaca Business Standalone December 2021 Net Sales at Rs 0.17 crore, up 4.18% Y-o-Y

Reported Standalone quarterly numbers for Sawaca Business Machines are: Net Sales at Rs 0.17 crore in December 2021 up 4.18% from Rs. 0.16 crore in December 2020. Quarterly Net Profit ... Read more »

SBI Life Insura Standalone December 2021 Net Sales at Rs 390.75 crore, up 62.7% Y-o-Y

Reported Standalone quarterly numbers for SBI Life Insurance Company are: Net Sales at Rs 390.75 crore in December 2021 up 62.7% from Rs. 240.16 crore in December 2020. Quarterly Net ... Read more »

Elixir Cap Standalone December 2021 Net Sales at Rs 0.12 crore, down 87.45% Y-o-Y

Reported Standalone quarterly numbers for Elixir Capital are: Net Sales at Rs 0.12 crore in December 2021 down 87.45% from Rs. 0.94 crore in December 2020. Quarterly Net Profit at ... Read more »

Eco Recycling Standalone December 2021 Net Sales at Rs 2.75 crore, down 49.45% Y-o-Y

Reported Standalone quarterly numbers for Eco Recycling are: Net Sales at Rs 2.75 crore in December 2021 down 49.45% from Rs. 5.44 crore in December 2020. Quarterly Net Profit at ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic