Nifty, which has started a structure of higher highs and higher lows, is prepared for a new expansion phase, says Santosh Meena of Swastika Investmart.

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Santosh Meena, Head of Research, Swastika Investmart believes that despite the ongoing market downturn, most of the negative impact on prices has already been factored in by investors.

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Sebi on Tuesday slapped a fine of Rs 15 lakh on Swastika Investmart Ltd for misutilisation of clients’ securities and funds.

Sebi penalises Swastika Investmart for misusing clients’ securities, funds

Swastika Investmart consolidated net profit declines 43.42% in the December 2022 quarter

Pravesh Gour, Senior Technical Analyst at Swastika Investmart has given his trading strategies for stocks that hit 52-week highs in Tuesday’s session

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In the absence of institutional flows, F&O expiry may predominate, believes Santosh Meena of Swastika Investmart

Can markets see a rebound from oversold levels

On the downside, the area between 18,133 and 18,080 represents a significant demand zone. As long as Nifty trades above 18,080, the general bullish texture will hold, but below 18,080, we can anticipate a short-term trend reversal,” Santosh Meena, Head of Research, Swastika Investmart Ltd., said.

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“Due to the fact that FIIs were net sellers for a significant portion of December, institutional flows will be another crucial trigger,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.

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Any correction in precious metals prices could be a good buying opportunity today. Gold has support at Rs 52000 and resistance at Rs 56000, said Nirpendra Yadav of Swastika Investmart.

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Swastika Investmart consolidated net profit declines 43.91% in the September 2022 quarter

In a Diwali survey conducted by BT Digital with 10 brokerages, as many as three analysts from Reliance Securities, Hem Securities and Axis Securities voted in favour of ITC. Likewise, similar number of analysts from Kotal Securities, Reliance Securites and Swastika Investmart suggested Axis Bank.

ITC, Axis Bank among top 15 Nifty stocks to buy this Diwali, BT Digital Survey reveals

Hasn't faired well - amongst the low performers

Performance

Can be considered moderately valued vs the market

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

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