Latest news with #RajeshPalviya
Mint
21 hours ago
- Business
- Mint
Stocks to buy: Rajesh Palviya of Axis Sec suggests Swiggy, Wipro, Bharti Airtel shares today
Stock market today: India's stock indices opened slightly higher on Friday, driven by financial sector gains after the central bank relaxed project financing regulations, though rising tensions between Israel and Iran limited further increases. As of 9:23 IST, the Nifty 50 had increased by 0.17% to reach 24,836.15, while the BSE Sensex climbed by 0.22% to 81,540.81. Global market sentiment remained weak following reports of Israeli strikes on Iranian nuclear facilities, which led to retaliatory missile and drone attacks by Iran. The White House announced that President Donald Trump would make a decision within two weeks regarding US military support for Israel. Rajesh Palviya of Axis Securities recommends Swiggy Ltd, Wipro Ltd, and Bharti Airtel Ltd. Here's what Palviya says about the overall market. In the previous session, Nifty 50 closed at 24,793, experiencing a modest dip of 19 points. The daily chart painted a picture of uncertainty, showing a Doji candlestick that signifies a standoff among market participants, where bullish and bearish forces struggle for dominance. Accompanying this was a small negative candle, adorned with subtle upper and lower shadows, further hinting at a period of turbulent, sideways movement. After a sequence of climbing peaks in recent weeks, Nifty 50 now appears to have formed a new lower peak at 24,982, signaling a potential weakening as it transitions from higher highs to lower highs. Presently, Nifty 50 is hovering near an immediate support level of 24,700. Should it slip below this crucial support, it could tumble toward the next support level at 24,500-24,400 in the near term. Conversely, if it manages to break through and hold above the resistance level of 25,000, it could ignite a wave of renewed buying enthusiasm, breathing fresh life into the market atmosphere. On the daily and weekly charts, Swiggy share price has experienced a trend reversal, forming a series of higher tops and bottom formations. The stock is well placed above its 20, 50 and 100-day SMAs, which reconfirms a bullish trend. The past couple of months' rising volumes signify increased participation. The daily and weekly strength indicator RSI indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 405-435, and its downside support zone is the ₹ 360-345 levels. On the daily and weekly charts, the stock has experienced a trend reversal, forming a series of higher tops and bottom formations. The 20 and 50-day SMA positive crossover signifies bullish sentiments and a positive trend. The past couple of weeks have seen rising volumes indicating increased participation. The daily and weekly strength indicator RSI indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹ 276-290, and its downside support zone is the ₹ 257-255 levels. Bharti Airtel share price is in a strong uptrend across all time frames; however, for the past couple of months, the stock has been consolidating within 1900-1800 levels, representing sideways movement. And hence any either side breakout may indicate further direction. As the stock is well placed above its 20, 50, 100 and 200-day SMAs and these averages are also inching up along with prices, which signals a higher probability for a range upward breakout. The daily, weekly and monthly strength indicator RSI indicates rising strength. Investors should consider buying, holding, and accumulating this stock. Its expected upside is 1,950-2,000, and its downside support zone is the 1,840-1,800 levels. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
5 days ago
- Business
- Economic Times
Volatility to persist across markets amid unstable technical structure: Rajesh Palviya
"If Nifty at all crosses above 24,800-24,850 zone, then we could see some bit of short covering to trigger in Nifty trades and then this pullback can extend further towards 25,000. But overall, 25,000 may act as a stiff resistance for any pullback in the near-term perspective," says Rajesh Palviya, Axis Securities. ADVERTISEMENT What are the levels to watch out for really and as far as Nifty is concerned. Rajesh Palviya: So, since last four-week Nifty is consolidating in range only, 24,500 on the downside and 25,100-25,200 is the upper band for this consolidation. Again, every week we have tested both the levels during the volatility which we have witnessed in last couple of weeks. Again, now Nifty slipped below to 20-day moving average. Nifty has broken the major put based concentration wall at 24,800, so if it remains below to 24,800, we might see Nifty to consolidate it lower band like 24,400 to 24,800 would be the range for Nifty in the coming week. If Nifty at all crosses above 24,800-24,850 zone, then we could see some bit of short covering to trigger in Nifty trades and then this pullback can extend further towards 25,000. But overall, 25,000 may act as a stiff resistance for any pullback in the near-term perspective. Volatility is going to remain in the market in the today's session as well as the previous day was also witnessing the same kind of behaviour. So, we may see a volatile trading sessions going forward for next couple of days. Bank Nifty is little underperforming indices in this week and Bank Nifty has broken the important support area of 56,000. So, if it remains below to 56,000, the range for the Bank Nifty for coming week would be 55,000 to 56,000 and bias would be slightly on the bearish side for Bank Nifty until the Bank Nifty not crosses above 56,000 level, most of the gain which we have witnessed post RBI policy is almost gave up by the Bank Nifty now and now Bank Nifty is trading near to the critical support area of 55,500. So, any move below 55,500 may attract a more supply pressure and then possible down move can extend to 55,000 for Bank Nifty. We spoke about gold, but there are other prices that have been spiking up is the Brent crude, that is up almost 12% in this week. In fact, it is sitting at $73 a barrel. Now, of course, on the back of the heightened geopolitical tensions, the supply concerns and so on, there is a note by JPMorgan also that says that crude could touch $130 a barrel in worst case scenario. Do you concur and what is your view own crude and, of course, then therefore the sectors that are crude sensitive? Rajesh Palviya: So, because of this geopolitical tension yes, there is spike in crude prices. But looking at the weekly as well as the monthly setup on the technical side, $76 to $78 is the immediate hurdle for the crude. If at all crude manages to cross above $78 and sustain above those level, then yes, maybe this spike can extend further and then 86 to 88 would be the next target. But it all depend on what kind of escalation we are going to have in coming days, that is the major driver for this crude oil prices. But on the downside 68 is the immediate support area. If it breaks below 68, then yes, unwinding trade would take place in crude prices. But till it is trading above $68-69, there is a possibility that again the crude can move back to the 78 level and if it crosses 78, 86 to 88 would be the next target for crude.
Time of India
5 days ago
- Business
- Time of India
Volatility to persist across markets amid unstable technical structure: Rajesh Palviya
"If Nifty at all crosses above 24,800-24,850 zone, then we could see some bit of short covering to trigger in Nifty trades and then this pullback can extend further towards 25,000. But overall, 25,000 may act as a stiff resistance for any pullback in the near-term perspective," says Rajesh Palviya , Axis Securities . What are the levels to watch out for really and as far as Nifty is concerned. Rajesh Palviya: So, since last four-week Nifty is consolidating in range only, 24,500 on the downside and 25,100-25,200 is the upper band for this consolidation. Again, every week we have tested both the levels during the volatility which we have witnessed in last couple of weeks. Again, now Nifty slipped below to 20-day moving average. Nifty has broken the major put based concentration wall at 24,800, so if it remains below to 24,800, we might see Nifty to consolidate it lower band like 24,400 to 24,800 would be the range for Nifty in the coming week. If Nifty at all crosses above 24,800-24,850 zone, then we could see some bit of short covering to trigger in Nifty trades and then this pullback can extend further towards 25,000. But overall, 25,000 may act as a stiff resistance for any pullback in the near-term perspective. Volatility is going to remain in the market in the today's session as well as the previous day was also witnessing the same kind of behaviour. So, we may see a volatile trading sessions going forward for next couple of days. Bank Nifty is little underperforming indices in this week and Bank Nifty has broken the important support area of 56,000. So, if it remains below to 56,000, the range for the Bank Nifty for coming week would be 55,000 to 56,000 and bias would be slightly on the bearish side for Bank Nifty until the Bank Nifty not crosses above 56,000 level, most of the gain which we have witnessed post RBI policy is almost gave up by the Bank Nifty now and now Bank Nifty is trading near to the critical support area of 55,500. So, any move below 55,500 may attract a more supply pressure and then possible down move can extend to 55,000 for Bank Nifty. We spoke about gold, but there are other prices that have been spiking up is the Brent crude , that is up almost 12% in this week. In fact, it is sitting at $73 a barrel. Now, of course, on the back of the heightened geopolitical tensions , the supply concerns and so on, there is a note by JPMorgan also that says that crude could touch $130 a barrel in worst case scenario. Do you concur and what is your view own crude and, of course, then therefore the sectors that are crude sensitive? Rajesh Palviya: So, because of this geopolitical tension yes, there is spike in crude prices. But looking at the weekly as well as the monthly setup on the technical side, $76 to $78 is the immediate hurdle for the crude. If at all crude manages to cross above $78 and sustain above those level, then yes, maybe this spike can extend further and then 86 to 88 would be the next target. But it all depend on what kind of escalation we are going to have in coming days, that is the major driver for this crude oil prices. But on the downside 68 is the immediate support area. If it breaks below 68, then yes, unwinding trade would take place in crude prices. But till it is trading above $68-69, there is a possibility that again the crude can move back to the 78 level and if it crosses 78, 86 to 88 would be the next target for crude. Live Events
Mint
13-06-2025
- Business
- Mint
Israel-Iran conflict: Should stock market investors be worried after Sensex, Nifty 50 crash? EXPLAINED
Israel-Iran conflict: Indian benchmark equity indices tumbled in early trading on Friday, tracking steep declines in Asian markets following Israel's military strikes on Iran, which intensified geopolitical tensions in the oil-rich Middle East. The Sensex began the session at 80,427.81, down from its previous close of 81,691.98, and plunged over 1,300 points, or 1.6%, reaching an intraday low of 80,354.59. Similarly, the Nifty opened at 24,473, compared to its prior close of 24,888.20, and tumbled 1.7% to hit an intraday low of 24,473. Among the sectors, Nifty Oil & Gas emerged as the biggest loser, sliding 1.6% due to significant declines in stocks like Mahanagar Gas, IGL, BPCL, and IOC. Other indices including Nifty Bank, IT, Auto, Metal, and PSU Bank also saw losses, each falling between 1% and 1.5%. In the broader market, the Nifty Midcap index shed 1.1%, while the Nifty Smallcap100 declined by 1.5%. 'Geopolitical tensions, such as the ongoing Iran-Israel conflict, have historically caused short-term market volatility. This often presents attractive opportunities to acquire high-quality stocks at discounted prices. We believe that any resulting volatility is temporary and unlikely to persist in the long term,' said Rajesh Palviya, SVP - Technical and Derivatives Research, Axis Securities. According VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, the impact on market will depend on how long the conflict lingers. In the near-term the market will be in a risk-off mode. 'Investors can wait and watch how the situation unfolds. Nifty is likely to get strong support at 24500 level,' Vijaykumar added. Rajesh Palviya of Axis Securities believe that any market corrections driven by geopolitical concerns as a buying opportunity. 'Technically, the Nifty index has strong support in the 24,500–24,300 range, while the Bank Nifty finds support near the 55,000 mark,' he said. On the other hand, experts recommend investors to avoid leveraged trades or highly speculative positions and Use market corrections as opportunities, not emergencies. 'Geopolitical sell-offs often cause short-term panic but not always long-term market damage, unless the situation escalates into broader war or economic sanctions affecting global trade (especially oil),' said Vikram Kasat, Head - Advisory, PL Capital. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
12-06-2025
- Business
- Mint
Mint Explainer: Why NSE, MCX are powering up with electricity derivatives
The National Stock Exchange (NSE) and the Multi-Commodity Exchange (MCX) recently secured approvals from the equity market regulator to launch electricity derivatives. Not only would this minimise financial uncertainty for power distribution companies but they can also use electricity derivatives or futures contracts to lock in electricity prices in advance. Mint takes a look at what this means and why there is a sudden interest in electricity derivatives. What are electricity derivatives? Electricity derivatives are financial contracts that help power companies and other electricity buyers protect themselves from sudden price changes in the electricity market. Think of it like this: electricity prices can rise or fall sharply due to factors like demand spikes, fuel costs, or weather changes. For power distribution companies, or discoms, this kind of volatility can cause financial uncertainty. To avoid this, discoms can use electricity derivatives or futures contracts to lock in electricity prices in advance. Why is this important? In electricity delivery in the unlisted space, there's always a counterparty risk—a fear that the other party may default. But in the listed space, the risk is significantly reduced, said Trivesh D., chief operating officer at trading platform Tradejini. He added that electricity derivatives contracts also offer discoms a reliable way for price discovery. 'Once electricity is listed as a derivative, its pricing becomes market-driven, based on actual demand and supply, rather than manipulated practices," he said. How will electricity derivatives work? Rajesh Palviya, head of technical & derivative research at Axis Securities, said derivative contracts will allow buyers and sellers to trade based on their anticipated electricity needs without involving physical delivery of power. 'Companies and manufacturers can purchase electricity contracts for specific durations—ranging from a month to a year—locking in prices to hedge against future price fluctuations. Instead of physically receiving or supplying electricity, participants settle the contracts financially. At the contract's expiration, the difference between the contracted price and the market price is credited or debited to the respective parties' accounts," Palaviya added. What do NSE and MCX have to say? India's transition to net-zero emissions requires substantial investment of over $250 billion year-on-year till 2047, according to government think tank Niti Aayog. India announced its net-zero target for 2070 at the 26th session of the United Nations Framework Convention on Climate Change (COP26) in November 2021. A robust and dynamic electricity derivatives market is essential to attract this scale of climate finance from both domestic and global investors, NSE said on Wednesday. MCX said electricity contracts will allow participants to manage power price risks, which are becoming more dynamic due to renewables and market-based reforms. What is the Indian Energy Exchange's (IEX) role? IEX is the dominant platform providing spot electricity trading. But it does not offer an electricity derivative contract. However, with MCX and NSE now allowed to launch electricity futures contracts, discoms, power producers, and retail investors can participate through new platforms. 'This means IEX no longer holds a monopoly," said Kranthi Bathini, director of equity strategy at Wealthmills Securities. 'Also, with both NSE and MCX joining the segment, the market is expected to become deeper, more liquid, and capable of delivering better price discovery and broader participation," said Trivesh of Tradejini. Also read | NSE investors hold tight as price surges in grey market Who will regulate electricity derivatives? Under current rules, if electricity derivatives are cash-settled, they fall solely under the purview of the Securities and Exchange Board of India (Sebi). If the contracts are compulsorily deliverable, regulatory oversight will be shared between Sebi and the Central Electricity Regulatory Commission (CERC).
