Heatwave alert sends Voltas, Havells stocks simmering, but experts rule out correlationMoneycontrol • 23 days ago
Instead of the heat wave, factors such as increase in affordability of products and steady launches of differentiated products for driving FMEG firms' revenues.
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The RSI Smoothened indicator that recently witnessed a dip has turned northward and is flashing fresh buy signals. In the week beginning April 1, close attention will be paid to the all-time high levels above 22,500, as hesitation was evident at these levels
Experts hope to see the Nifty 50 at 22,600 in an immediate term and 22,800 in the short term, with support at 22,400, and then at 22,200. But, in between, the 22,500 level is likely to be crucial in determining the subsequent direction in the market
The new venture is expected to bring benefits of synergies of business with its existing range of small domestic appliances.
Havells is planning to launches a range of cooktops, hobs, chimneys and other built-in appliances by May and is aiming to be among the top players over the next three years.
Aster DM Healthcare formed bullish candlestick pattern with upper shadow on the daily charts. The volume was above average and the stock traded above all key moving averages.
Observing the daily chart, the Nifty 50 has been navigating within a rising channel. A decline below 21,950 could potentially trigger a correction towards 21,800 in the near term.
Weekly analysis indicates the Nifty 50 hovering below the middle Bollinger band, with potential support identified in the 21,550-21,500 zone.
Motilal Oswal is bullish on Havells India recommended buy rating on the stock with a target price of Rs 1510 in its research report dated January 24, 2024.
Net Sales are expected to increase by 9.6 percent Y-o-Y (up 16 percent Q-o-Q) to Rs 4,524.9 crore, according to Prabhudas Lilladher.