Mid-Caps Buoyant, Small And Micro-Caps In Counter-Trend Bounce, Says Analyst
Mid-cap stocks have shown more buoyancy than small and micro-caps, which are witnessing a counter-trend bounce, according to Jai Bala of CashTheChaos.
"Markets have managed to cross the 3% (growth) mark since the start of the year and every new high is getting pushed back to the previous range," the chief market technician told NDTV Profit on Thursday. "That's not a positive sign."
Bala has been avoiding the Nifty IT but is bullish on the mid-cap IT companies since 2022. "The whole IT pack has been coming under pressure (and) 36,200-mark keeps the sector weak."
Within the frontline IT names, Tata Consultancy Services Ltd. and HCL Technologies Ltd. is better that Infosys Ltd. and Wipro Ltd., according to Bala.
Bala is also bullish on LPG cylinder-maker Confidence Petroleum Ltd. with a target price of Rs 125 apiece and a stop-loss at Rs 82.
From the banking space, he pointed out that Kotak Mahindra Bank Ltd. had been a laggard for the last three years and the recent high would test the support level at Rs 1,630 apiece and stop-loss at Rs 1,820.
Recovery Coming For ChemicalsÂ
Most chemical makers will witness sequential recovery in the top line and bottom line and share positive commentary after results, according to Rohan Gupta, director at Nuvama Institutional Equities.
This comes after the chemical stocks being out of limelight for the last four–five quarters due to low demand, inflationary scenario in the US and Europe, global destocking and China's pressure on prices, Gupta said.
"Now it looks (like the) situation is normalising. Demand and prices are seen going up. End-user industries have started showing signs of improvement, specialty chemicals are looking better," he said.
Watch The Conversation Here
The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
