Inventory market at the moment: In a powerful turnaround, the inventory market benchmark indices Sensex and Nifty 50 noticed a notable rebound in early commerce on Monday, following the announcement of a mutual settlement between India and Pakistan to stop all firings and army actions throughout land, air, and sea. This diplomatic growth got here within the wake of India’s ‘Operation Sindoor,’ which aimed to dismantle 9 terror infrastructures in Pakistan and Pakistan-Occupied-Kashmir in response to the Pahalgam terror assault.
Beginning the day with optimism, the Sensex surged remarkably, leaping 1,793.73 factors to achieve 81,248.20 in early buying and selling. The Nifty 50 mirrored this momentum, climbing 553.25 factors to hit 24,561.25. Because the day progressed, the BSE benchmark continued to rally, buying and selling 1,949.62 factors increased at 81,398.91, whereas the Nifty 50 marked a big rise of 598.90 factors to 24,606.90.
On the F&O section, Rupak De of LKP Securities, has recommended Latent View Analytics Ltd, ICICI Financial institution Ltd, and Gujarat State Petronet Ltd (GSPL) shares to purchase or promote. Here is what De says concerning the general market and shares.
Technical views by Rupak De, Senior Technical Analyst, LKP Securities on F&O market:
Nifty 50
Nifty 50 merchants appeared to undertake a risk-off method amid rising India-Pakistan tensions, main the index to slide from its current consolidation vary. Regardless of the decline, the Nifty 50 held above the 24,000 stage, discovering assist close to the 21-day exponential shifting common (EMA). Within the close to time period, bears could attempt to drive the index under the 24,000 mark to strengthen their place. A decisive break under 23,900 might set off elevated bearish exercise. On the upside, 24,250 is prone to function rapid resistance, and a transfer above this stage might raise market sentiment.
Open Curiosity Evaluation: Vital open curiosity additions had been seen in Calls and Places of 24,000 strike. Most Name writing seen at 24,500 strike whereas, most Put writing was seen at 24,000.
Technique: Sentiment is prone to weaken under 24,000.
Commerce: Purchase Nifty 50 15May 23,900PE ABOVE 185 TGT 250 SL 144.
Purchase Latent View Analytics Ltd at ₹412.50 | Goal: ₹440 | Cease Loss: ₹397
Latent View share worth has seen renewed shopping for curiosity, driving the worth upward. With the inventory buying and selling above its shifting common, the short-term pattern stays constructive. Bullish crossovers in momentum indicators on the each day chart assist additional upside potential. The inventory is prone to check the ₹440 stage if the present momentum continues.
Promote ICICI Financial institution Ltd at ₹1,388–1,400 | Goal: ₹1,360 | Cease Loss: ₹1,416
ICICI Financial institution share worth has pulled again after hitting a brand new excessive and consolidating round ₹1,450. The current drop under the 23.80% Fibonacci retracement suggests rising bearish sentiment. Weak shopping for curiosity at increased ranges factors to additional draw back towards ₹1,360, with resistance doubtless close to ₹1,416.
Purchase Gujarat State Petronet Ltd (GSPL) at ₹321 | Goal: ₹338 | Cease Loss: ₹313
GSPL share worth has fashioned a bullish Piercing Line candlestick sample on the each day chart, indicating a potential rebound. A transfer above the 21-day EMA additional confirms a short-term uptrend. Sentiment stays constructive, with the inventory poised to achieve ₹338. Key assist lies at ₹313.
Disclaimer: The views and proposals made above are these of particular person analysts or broking firms, and never of Mint. We advise traders to examine with licensed specialists earlier than making any funding selections.
