As we have clearly seen that it is all enthusiastic in the Indian markets, even if it is excluded by benchmarks as well as wide markets, all areas of green. What is your technical view on the indicators currently?
Dharmash Shah: Yes, definitely, the market began with very positive news after the news of the ceasefire by us or Iran-Israel and also by crude oil prices, a great spirit for the market.
The biggest resistance to the Nifty for the last five weeks was around 25,200, we are integrating these 700 points. We expect the market to look at about 25,700 for the Nifty in the next few weeks. Therefore, the market is likely to see 25,700 as a target. On the loss we will believe that 24,400 to 24,700 will act as a strong support for the Nifty.
Therefore, any submergence in the market should be viewed as an opportunity to buy. Therefore, we remain positive for the market and again, I would say that the width of the market which is a good indicator for the market again, it seems that there is a long fun to go to the market because if you look at midcaps and smaller apex, we expect the action to see midcaps and smallpers. Therefore, it is clearly purchased on the submerged market for a target of 25,700 for the Nifty.
Help us in your stock ideas as well because up the moves help us understand the stocks you are keeping an eye on this time.
Dharmash Shah: Certainly, if you look at the current design of the market, like things you seem to have full inflation and interest rates, the biggest benefit of this is the capex -powered stocks.
Therefore, as a field, capital goods remain positive for us and expect a sequential reCOVERY acquisition for capital goods as the area itself has seen a good improvement of 35% to 40% from the top.
Within capital goods we remain creative positive for L&T. L&T is again a five-month witness of the trend line breakout supported by strong volumes and the stock seems to be looking for strong support on the 20-day EMA in the current corrective phase, so looking at all things weekly as well as monthly charts, it seems that L&T should be looking for a new highest in the next few days. So, yes, we remain positive for L&T, with a stop loss of L&T, 3570 for the target of 3928.
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