The market expert informed Business Today TV about the ongoing Diwali sale and recommended seizing the opportunity to invest. They highlighted the attractive prices of various stocks in the current market setup, emphasizing their strategy of identifying undervalued assets and making purchases.
The Head of Technical Research at Jainam Broking, Kiran Jani, expressed a bearish outlook for the market in the short run. Highlighting an ongoing Diwali sale, Jani encouraged investors to seize the opportunity to invest. He emphasized the availability of numerous stocks at attractive prices and mentioned that their team is actively identifying and purchasing stocks with promising value.Jan Jani, Responsable de Investigación Técnica en Jainam Broking, declaró el miércoles que el mercado parecía bajista a corto plazo. “En este momento, hay una venta de Diwali en curso y definitivamente se debería invertir. Observando la configuración actual, hay varias acciones disponibles a un nivel muy bueno. Estamos identificando esos valores y estamos comprando”, dijo el experto del mercado a Business Today TV.
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In the second quarter of the fiscal year 2025, Zomato reported a staggering 389% year-over-year surge in profit, reaching Rs 176 crore, with a 69% increase in revenue.
In the second quarter of the fiscal year 2025, Bajaj Finance reported a 13% year-on-year increase in profit, reaching Rs 4,000 crore, accompanied by a significant 28% surge in revenue.
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Jani’s top metal pick is Hindustan Zinc Ltd due to its significant position as the third-largest for silver and second-largest for zinc. According to the market specialist, investing in Hindustan Zinc is a good way to benefit from the silver rally. He recommends buying at the current market price for a promising upside. Currently, Hindustan Zinc shares are trading 2.35% higher at Rs 525.50.
The analyst’s selection extended to Bajaj Finance Ltd from the non-banking financial company sector. Jani highlighted the attractiveness of Bajaj Finance’s current price point, suggesting investors consider entering at approximately Rs 6,600-6,700 with a target range of Rs 7,600-7,800 in the near future. A stop loss at Rs 6,400 was advised. Notably, Bajaj Finance’s stock claimed the top spot as the highest gainer in the Nifty50 index for the day.
He recommended considering purchasing Axis Bank Ltd shares at lower levels between Rs 1,150-1,160 for strategic positioning. Suggesting a tight stop loss under Rs 1,130, he anticipated a potential upsurge towards Rs 1,230-1,250 unless the support level is breached. Presently, Axis Bank was trading up by 0.23% at Rs 1,178.50.
Jani, a market expert, responded to an inquiry regarding Zomato Ltd, expressing optimism about the stock’s potential for an upward movement. Indicating a key resistance at the Rs 270-275 mark, Jani highlighted the possibility of the stock retesting its record high of Rs 300 if it manages to stay above this range. Despite the positive outlook on the price charts, Jani advised a cautious approach, suggesting a buy signal only if the stock surpasses Rs 270, with a recommended stop loss at Rs 255. Should the Rs 270 threshold be breached, Jani anticipated a target exceeding Rs 300. As of the latest update, Zomato shares were trading 2.26% higher, priced at Rs 262.
Today, Indian stock indices are seeing an upward trend, primarily driven by the rise in IT, banking, and financial sectors. Furthermore, there is a positive sentiment in the broader market, with mid- and small-cap stocks also performing well.
Out of the 16 sector gauges tracked by the NSE, nine were showing positive momentum. Notably, the Nifty IT, Nifty Bank, and Nifty Financial Services sub-indexes stood out with gains of 1.13%, 0.44%, and 0.77% respectively. Conversely, Nifty PSU Bank and Nifty Realty experienced declines of 0.51% and 1.10% each.
Bajaj Finance led the Nifty pack with a significant gain of 4.89%, reaching Rs 7,004.55 per share. Similarly, Bajaj Finserv, HDFC Bank, Bajaj Auto, and Adani Enterprises also saw increases of up to 1.99%.
The top underperformers on Nifty50 included NTPC, Eicher Motors, PowerGrid, M&M, and ONGC in comparison.
On the BSE, market breadth showed weakness with 1,702 shares declining and 1,496 shares advancing.
