The gap-up in the market could not last. Nifty slipped more than 100 points from the upper levels and reached close to 22300. HDFC BANK, Bharti, ITC and ICICI Bank have created pressure. In such a situation, today we will tell you about such sectors and stocks which will make you earn profit in the market. So let's take a look at those stocks which can emerge as today's big stocks. Let's take a look at today's big stocks, which will be in action throughout the day.
Anuj Singhal said that good price action was seen in Kotak Mahindra Bank yesterday. It managed to cross 20 DEMA on the daily chart. It is also on the verge of crossing the three and a half year channel. On an average, 75% delivery volume is being seen for the last 4 days. Short covering was seen in futures.
Anuj Singhal Cholamandal Finance stock is in good momentum. There was good buying on the support of 200 DMA. It has also managed to close above 20 DEMA. There has been good delivery buying for the last two days. There will be benefit from increased liquidity by RBI.
OMCs in Focus (GREEN)
Anuj Singhal said that keep focus on HPCL, BPCL, IOC. Crude oil fell below $70. Crude oil prices reached a 6-month low. Intraday prices also reached December 2021 levels. Citigroup said that Brent may fall to $60 per barrel. The fall in crude improves the margins of OMCs.
Paint, Airlines in focus (GREEN)
Anuj Singhal said that focus should be on Asian Paints, Pidilite, Interglobal Aviation. The softening of crude is very positive for all three companies. Crude derivatives account for 25-30% of paint companies' costs. The margins of paint companies improve with the fall in crude prices. Crude accounts for 40-45% of airlines' costs. Cheap crude is very positive for airlines.
(Disclaimer: The views expressed on Moneycontrol.com are the personal views of the experts. The website or management is not responsible for the same. Moneycontrol advises users to seek advice from certified experts before taking any investment decision.
