Taking stock: Sensex, Nifty rebound to close higher after early losses
The benchmark Sensex and Nifty 50 staged a full recovery from the day's lows on May 13, closing in the green after both fell nearly one percent during morning trade.
Sensex concluded at 72776 points, up 0.15 percent, recovering from an intraday drop of nearly 700 points. Nifty closed at 22104 points, up 0.22 percent, bouncing back from an intraday decline of around 180 points.
Top sectoral gainers: Nifty Pharma surged 1.8 percent, followed by Nifty Metal and Realty, which were both up 1.3 percent. Nifty Bank rose 0.7 percent, while Nifty IT gained 0.4 percent. On the downside, Nifty Auto dropped 1.68 percent, followed by Nifty PSU Bank and Oil & Gas, down 1.2 percent and 0.8 percent, respectively.
Outlook for May 14
The week kicked off with market volatility, but by the end, it managed to eke out marginal gains. Initially bearish sentiments gave way to a recovery, particularly among key heavyweights, which not only erased losses but also propelled the index to close near the day’s peak at 22,125.50. Sector-wise, there was a mixed bag, with pharma, metal, and realty sectors witnessing gains, while auto and energy sectors saw declines. This trend extended to the broader market as well, with midcaps edging slightly higher while smallcaps ended in negative territory.
Despite the persistent rise in the volatility index, the Nifty found support at the critical 21,800 level. Anticipated stability in banking majors and select heavyweights in sectors such as IT and energy may foster further upward movement, although breaching the 22,300-22,400 range could prove challenging. Given this scenario, participants are advised to adjust their positions cautiously and refrain from overly aggressive trading strategies.
The benchmark Sensex and Nifty 50 staged a full recovery from the day's lows on May 13, closing in the green after both fell nearly one percent during morning trade.
Sensex concluded at 72776 points, up 0.15 percent, recovering from an intraday drop of nearly 700 points. Nifty closed at 22104 points, up 0.22 percent, bouncing back from an intraday decline of around 180 points.
Top sectoral gainers: Nifty Pharma surged 1.8 percent, followed by Nifty Metal and Realty, which were both up 1.3 percent. Nifty Bank rose 0.7 percent, while Nifty IT gained 0.4 percent. On the downside, Nifty Auto dropped 1.68 percent, followed by Nifty PSU Bank and Oil & Gas, down 1.2 percent and 0.8 percent, respectively.
Outlook for May 14
The week kicked off with market volatility, but by the end, it managed to eke out marginal gains. Initially bearish sentiments gave way to a recovery, particularly among key heavyweights, which not only erased losses but also propelled the index to close near the day’s peak at 22,125.50. Sector-wise, there was a mixed bag, with pharma, metal, and realty sectors witnessing gains, while auto and energy sectors saw declines. This trend extended to the broader market as well, with midcaps edging slightly higher while smallcaps ended in negative territory.
Despite the persistent rise in the volatility index, the Nifty found support at the critical 21,800 level. Anticipated stability in banking majors and select heavyweights in sectors such as IT and energy may foster further upward movement, although breaching the 22,300-22,400 range could prove challenging. Given this scenario, participants are advised to adjust their positions cautiously and refrain from overly aggressive trading strategies.
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IMPORTANT NOTICE: 🚀🚀🚀
The stock market conditions are still poor today, so we need to proactively adjust our positions!
Stock names: [IRMENERGY] and [GLAXO] Exit after surge high ! ! ! Lock in your profits! ! !
Other stocks are temporarily on hold. We are paying close attention to them. Please be patient and wait for the exit notice.
There will be new strong stocks to share in the afternoon. Today’s stock is a relatively cheap stock. New friends are welcome to buy together. We hope that everyone will adjust their positions in time and keep up with our pace at Interactive Brokers.
The stock market conditions are still poor today, so we need to proactively adjust our positions!
Stock names: [IRMENERGY] and [GLAXO] Exit after surge high ! ! ! Lock in your profits! ! !
Other stocks are temporarily on hold. We are paying close attention to them. Please be patient and wait for the exit notice.
There will be new strong stocks to share in the afternoon. Today’s stock is a relatively cheap stock. New friends are welcome to buy together. We hope that everyone will adjust their positions in time and keep up with our pace at Interactive Brokers.
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May 14th
Today’s recommendation: VAKRANGEE [ VAKRANGEE LTD ]
Buy at current price, buying range: 25.0 - 26.35
Target price: short-term target is 29.80; medium-term target is 33.25
Stop loss price: 24.0
Position holding time: 1 week - 2 weeks
Reasons for Recommendation: The company is committed to becoming India's most trusted physical and online convenience store and is actively moving towards Vakrangee Kendra's new brand concept 'AB Poori Duniya Pados Mein' because of the partnership with Max TV, the future prospects of the company Very good and worthy of long-term attention. Market expectations FMCG stocks are hoping for a strong recovery in the coming quarters and will serve as defensive bets. From a technical point of view, it is now in an upward trend. As long as it continues to remain above the MA20, the upward trend will be continued.
Today’s recommendation: VAKRANGEE [ VAKRANGEE LTD ]
Buy at current price, buying range: 25.0 - 26.35
Target price: short-term target is 29.80; medium-term target is 33.25
Stop loss price: 24.0
Position holding time: 1 week - 2 weeks
Reasons for Recommendation: The company is committed to becoming India's most trusted physical and online convenience store and is actively moving towards Vakrangee Kendra's new brand concept 'AB Poori Duniya Pados Mein' because of the partnership with Max TV, the future prospects of the company Very good and worthy of long-term attention. Market expectations FMCG stocks are hoping for a strong recovery in the coming quarters and will serve as defensive bets. From a technical point of view, it is now in an upward trend. As long as it continues to remain above the MA20, the upward trend will be continued.
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💐Dear investors:
👏👏👏We sincerely congratulate those members who successfully purchased today's stocks! Today’s transaction perfectly fits the golden pit logic and trend analysis that we shared last Saturday.
🕯🕯🕯In technical analysis, last Friday's decline gradually slowed down, and a "bullish engulfing" pattern formed on Monday, which is a positive bullish signal. It is worth mentioning that the stock's technical surface formed a "golden pit" pattern last month, indicating huge potential for future gains.
🌐Interactive Brokers Group Analyst🌐 Team
👏👏👏We sincerely congratulate those members who successfully purchased today's stocks! Today’s transaction perfectly fits the golden pit logic and trend analysis that we shared last Saturday.
🕯🕯🕯In technical analysis, last Friday's decline gradually slowed down, and a "bullish engulfing" pattern formed on Monday, which is a positive bullish signal. It is worth mentioning that the stock's technical surface formed a "golden pit" pattern last month, indicating huge potential for future gains.
🌐Interactive Brokers Group Analyst🌐 Team
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EXICOM
Fundamentals: The company is a very important player in the electric vehicle space and has launched India's "fastest DC charger" for electric vehicles with a power of up to 400 kilowatts. This is a proud milestone. At the same time, the new government will increase investment in the electric vehicle field, and the company will benefit in the long term.
Technical aspect:
The MACD indicator shows that the column below the 0 axis shortens, which is a bullish signal.
The daily chart shows that during this round of stock market crash, the stock successfully stayed above the trend line, indicating that the long-term trend is still bullish and the upward trend is very healthy.
It opened slightly higher on Wednesday and broke through the high point on March 5, indicating that the bullish power has revived. This is the best time to buy on dips!
Suggestion: Continue to hold shares and wait, and can add positions on dips!
Fundamentals: The company is a very important player in the electric vehicle space and has launched India's "fastest DC charger" for electric vehicles with a power of up to 400 kilowatts. This is a proud milestone. At the same time, the new government will increase investment in the electric vehicle field, and the company will benefit in the long term.
Technical aspect:
The MACD indicator shows that the column below the 0 axis shortens, which is a bullish signal.
The daily chart shows that during this round of stock market crash, the stock successfully stayed above the trend line, indicating that the long-term trend is still bullish and the upward trend is very healthy.
It opened slightly higher on Wednesday and broke through the high point on March 5, indicating that the bullish power has revived. This is the best time to buy on dips!
Suggestion: Continue to hold shares and wait, and can add positions on dips!
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