SD Solutions

  Volatility has spiked above 24, pausing the positive momentum. and needs to be below 20 for the index to climb again, Chandan Taparia of Motilal Oswal has said. The Nifty50 fell sharply for the second day running due to selling pressure and lost more than 150 points on January 18. The correction was seen across sectors, with the Nifty metal falling the most with a 4 percent loss. Bank, financial services, auto, IT, realty and pharma indices were down 1-3 percent. After opening higher at 14,453.30, the Nifty hit the day's high of 14,459.15 in early trade only to slip into the red. The index tried to recoup losses in the afternoon but fell sharply in the last hour and closed 152.40 points, or 1.06 percent, lower at 14,281.30. The index formed a bearish candle on the daily charts as the closing was lower than opening levels. Experts advised caution as the   Union Budget   2021 nears and said the volatility is likely to continue in the coming days. "Bears appear to be slowl...

  Intraday traders should create fresh shorts if the Nifty trades below 14,357 for more than 30 minutes on January 18, Mazhar Mohammad of Chartviewindia has said. The Nifty50 snapped its five-day winning streak and corrected more than one percent to form a bearish candle on the daily charts as closing was lower than opening levels on January 15. Weak global cues despite US unveiling plans for a $1.9-trillion stimulus package weighed on sentiment. Selling pressure was seen across sectors with the Nifty IT, metal, pharma and financial services indices declining 1-2 percent, while the broader markets also fell 1 percent. For the week, the Nifty50 gained 0.6 percent and formed a Doji pattern on the weekly scale as closing was near the opening level. The Nifty50 opened flat at 14,594.35 and hit an intraday high of 14,617.45 in early trade but immediately slipped into the red to hit the day's low of 14,357.85. The index fell 161.90 points or 1.11 percent to close at 14,433.70. Experts sa...

  All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...

The grey market premium has increased significantly from Rs 400-500 on January 11 to Rs 840-850 on January 15. Indigo Paints, one of the fastest-growing paint companies in India, was trading at more than 50 percent premium over its higher issue price band of Rs 1,490 per share in the grey market after the announcement of IPO details. The premium in the grey market as of January 15 was at around Rs 840-850 per share, which means the grey market trading price stood at Rs 2,340-2,330 against the issue price of Rs 1,490, as per the data available on IPO Watch. The premium increased significantly from Rs 400-500 on January 11 to Rs 840-850 today. The grey market is an unofficial trading platform where shares get traded well before the allotment in an initial public offering and till the shares get listed on bourses. It generally estimates the expected listing price of a stock. "Currently Asian paints and Berger paints are trading at a PE of 111 and 148, respectively, while Indigo Paint...

  Experts are of the view that a repeat of 2020 or what happened in March might not be possible but some consolidation cannot be ruled out. Back in March when everyone wanted to write-off 2020 from their books, hope and liquidity supported markets and investor sentiment. Nobody thought that after touching a 3-year low in March 2020, benchmark indices would give double-digit returns by the end of the year. The S&P BSE Sensex and Nifty50 rallied by about 15 percent in 2020 and the big outperformance came from the small and midcap stocks. The rally is still continuing in 2021. The S&P BSE Sensex, which climbed Mount 49K, is up over 3 percent while the Nifty50 is up over 4 percent so far in January. Sensex scaling the 49,000-mark and Nifty50 touching 14,500 levels ahead of the Budget 2021 could make anyone cautious about the strength of the rally. Back in January 2020, both Sensex and Nifty touched fresh highs ahead of Budget, and then the market fell like a pack of cards. The ...

HDFC is moving in an uptrend with a minor corrective decline. The range is classified as a flag and a breakout of falling minor trendline confirms a possible upside. HDFC is moving in an uptrend with a minor corrective decline from Nov 20 highs. The decline is on lower, contracting volumes and suggests a correction within an ongoing trend. The range-bound action can also be classified as a flag as it is on coming off a sharp rally. A breakout of falling minor trendline confirms a possible upside. Buy around Rs 2300-2310. Keep a stop below Rs 2250 and hold for a target of Rs 2400 and above that to Rs 2450.