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Expect USD-INR to continue in 74.50-75.40 range in near term: Kotak Securities' Anindya Banerjee
Anindya Banerjee, DVP-Currency and Interest Rate Derivatives at Kotak Securities, expects the USD-INR pair to continue to move within a range of 74.50-75.40 in the spot market over the near term.
Volatility to continue on concerns over new COVID variant, tapering: Motilal Oswal Financial Services' Siddhartha Khemka
Siddhartha Khemka, Head-Retail Research at Motilal Oswal Financial Services, expects volatility in the market to continue going forward given the uncertainty around the Omicron variant of COVID-19 and the tapering of pandemic-era stimulus by the Fed. "However, the sharp sell-off has made valuations comfortable and economic data continues to point towards a recovery, keeping long-term fundamentals intact," he said.
Khemka advises investors to buy during this period of volatility in a staggered fashion.
Onicron fear may persist in global markets in near future: Religare Broking's Ajit Mishra
Ajit Mishra, VP-Research at Religare Broking, expect the fear of the Onicron variant of COVID-19 to persist in the global markets in the near future. "Favourable domestic data may result in some intermediate relief but the possibility of any major directional move seems unlikely. It’s prudent to stay cautious and wait for more clarity," he said.
Nifty50 needs to cross 17,350 hurdle to test 17,500-17,800 levels: Choice Broking's Palak Kothari
The Nifty50 index has confirmed a doji kind of candle on the hourly chart, which highlights the confusion between buyers and sellers, said Palak Kothari of Choice Broking. "The index has support at 16,800 and resistance comes in at 17,350, a level, which, if crossed, may lead to fresh buying interest, helping the index test 17,500-17,800 levels. The Bank Nifty has support at 35,300 and resistance at 37,000," Kothari added.
Good support for Nifty50 near 17,050-16,950 levels: LKP Securities' Rohit Singre
Rohit Singre, Senior Technical Analyst at LKP Securities, said the Nifty index has formed two strong hurdle zones on the higher side, around 17,220 and 17,300. "Until we don’t cross or give a decisive close above these levels, we may not see aggressive buying come in. The levels are immediate trend deciding levels. Good support is seen near the 17,050-16,950 zone," he said.
We are in nascent stage of multi-year upcycle in real estate: Anshul Saigal
Anshul Saigal, Head and Executive VP at Kotak PMS, believes it is just the beginning of a real estate upcycle, which will benefit developers as well as building material players. "We are in affordability terms back to 2003 levels, where prices have corrected, incomes have gone up, wealth has gone up and so in affordability terms, we are at a very affordable stage in real estate. There has been consolidation in the sector. The number of builders in the sector is down by 50 percent over the last four or five years, which means that the product that is coming out in the market is good, and investors and buyers are seeking that product.
"We think that this year will be a year of volume uptick that will lead to the prices consolidating next year and in fact starting to move up. As that happens, we will have investor interest move into this sector. We are in the nascent stage of a multiyear upcycle in real estate... We believe that this is going to be an engine of growth for not just Corporate India but also for GDP as a whole," he said.
Telecom space attractive: Anshul Saigal
Anshul Saigal, Head and Executive VP at Kotak PMS, said the telecom space appears to be attractive at the current juncture, with price increases from all players. "The space has seen a consolidation phase of over 10 years in terms of prices, followed by ARPUs peaking out sometime in 2016-17, from where ARPUs halved and then went up, say about 50 percent. Even if we align this number to inflation, there is a significant downtick versus what ARPUs used to be at, about Rs 200, in 2016-17. In that context, there is room for ARPUs to move up much more from here. In fact, we are at the Rs 150-160 level, and this number, if we were to adjust it to inflation, could be somewhere in the region of Rs 250 in comparison to where ARPUs were in 2016," he said.
"Having seen such a consolidation in the industry as also price consolidation. This space is attractive and of late, we have seen price increases from all players, even the one player which has deep pockets and which had ruffled feathers in the space, even that player has raised prices. So it looks like there are tailwinds on earnings and that can only be good for the businesses as also for stock prices," Saigal added.
Hold Tata Motors, long-term prospects good: Mayuresh Joshi
Mayuresh Joshi of William O' Neil suggests holding Tata Motors for the longer term. "We have also seen chip shortages, and we have heard a lot about Malaysian plants reopening. The chip shortage is something that is dampening the industry prospects overall, whether it is local or global. Having said that, I think expectations in terms of EV launches over the next few years, and the stiff competition that it probably faces, Tata Motors is gearing up to the competition as well as expectations in terms of creating their EV models which are competitive in terms of having volumes go up as well," he said.
"Just a level of caution because the market is so volatile: Rs 344 is the level which is the long-term support of the stock, the 200-DMA that should be monitored," he said.
Colgate-Palmolive needs to cross 50-DMA of Rs 1,593 to regain price strength: Mayuresh Joshi
Mayuresh Joshi of William O' Neil believes the Colgate-Palmolive stock needs to cross its 50-day moving average of Rs 1,593 to regain its price strength. "If you probably look at market share purely in terms of toothpaste as well as toothbrushes, I think that has been stable for some time... In the toothbrush category, the company is maintaining market share, but again, I think huge innovations coming here as well. So in Colgate ZigZag, they introduced some deep enamel, which are both salt- as well as turmeric-infused. So I think there is a lot of innovation happening, with 30 percent odd margins expected to get maintained. RoEs and RoCs have always been superior for Colgate in that sense... The company's earning strength and EPS ratings as per our methodology are top notch. So I think Colgate-Palmolive can be a hold, but again, I think they need to cross these levels to regain price," he said.
Closing Bell | Sensex rises 620 points to 57,685, Nifty at 17,167
The 30-scrip index rose 619.9 points or 1.1 percent to end at 57,684.8 and the broader Nifty50 benchmark settled at 17,166.9, up 183.7 points or 1.1 percent from its previous close. Gains in financial, oil & gas and IT shares pushed the headline indices higher, though losses in pharmaceutical counters played spoilsport.
Vodafone Idea shares zoom 20%; here's why
Vodafone Idea shares surged 20 percent to end at Rs 13.25, having hit a 10-month high during the session. The stock inched closer to a 52-week high of Rs 13.8, hit in January 2021. (Read more on Vodafone Idea shares)