Is It Right Time To Go With PayTm?

I think yes, as everyone knows PayTm and its business module. PayTm launched its IPO in November 2021 and many peoples applied for it. They were expecting a listing gain as listing gain was trending. However, the stock price has fallen from 1950 after listing, and right now it is at 630. Price is at a lifetime low that is not the reason to buy. Let’s discuss the chart and fundamentals.

Fundamentals: PayTm provides services like Merchants, paying bills, recharges, transferring money, online shopping, book movie & travel tickets. Also, they are coming into financial services and products. We can say that PayTm is all in one, right now they are focusing on business expansion. Currently, the company is making a loss but the company is almost debt-free. Assets are increasing and the company has good cash flow. Once they settle down in the business then the net profit will increase. As per our study business is good and demand in the future.

Monthly Chart: Price has nonstop fallen from November 2021 to March 2022. Then stock has taken rest and made Inverted Hammer on a chart with high volumes. The next candle is positive and confirmed Morning Star.

Weekly Chart: This time frame shows a Narrow Triangle that has Lower Low and Higher Low. However overall chart’s behavior and volumes are showing big bulls are accumulating the stock. They are building the bottom on the chart. We just need breakout for more up moves, so we can also enjoy a bull ride.

Daily Chart: On a shorter time frame stock has made Cup & Handle and showing buying in every fall with high volumes. We can say that big players or institutions are adding it to the portfolio.

We are bullish on the stock from the current levels for the next 1-3 years.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

USA Inflation At High, What Impacts On Indian Market?

Friends, our market is reacting to global clues from the last few months like FIIs Selling, the Russia-Ukraine war, & now the USA Inflation rate hike. This weekend America has declared its inflation rates and CPI was hiked by 8.6%. Current rates have hit 40 years highs and that impacts on USA stock market. In the last two trading sessions, Dow Jones has lost the last 15-20 days of recovery and came again near support levels. These two days fall will impact our market.

NIFTY50: After Cup & Handle breakout Nifty touches 16700-16800 which was resistance as per option data and the index has gradually fallen from the same. The market has shown good short covering on the last weekly expiry and closed at the day high. The next day again opened gap-down due to the American market and closed at support levels of 16200. However, SGX Nifty indicating a gap-down opening at 16000 and that is the next support level. Also, 15900-15500 is the demand zone on a weekly chart and our markets are looking strong. So we can expect a bounce from this zone but we have to wait for confirmation on the charts.

BANKNIFTY: On the weekly chart, banknifty is in the Lower-Low Lower-High trend and it has corrected from the trendline resistance. On the daily chart it has closed near support levels, now we have to see will it sustain or break. If banknifty opens and closed below 34000 then we can see 33000 again that is the demand zone.

Important levels for the coming week are below

Nifty: Support:- 15800-16000 | Resistance:- 16400-16500

Bank Nifty:- Support:- 34000-33500 | Resistance:- 34500-34800

Telegram: https://t.me/Intraday_King

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

Two Long Term Stocks From Adani Group

Today we are going to discuss two stocks from Adani Group. Both are at good levels to enter for the long side. As we know Adani Group is very strong and both companies are very strong as per fundamentals. Both stock prices are corrected from the top and now at the support levels. Let's discuss the chart in brief and levels.

ADANI GREEN: On the chart of this stock from January to March price is in consolidation and then it has given a breakout. With that rally, volumes were increased day by day and the price went to 3000 from 1800 within the month. Now again stock price has come into this demand zone and we are expecting a bounce from this level. As price has oversold as per indicator and volumes are increased in last week with a green candle. We are expecting up moves from these levels till 2200/2400 and support is around 1800-1700.

ADANI ENT: This stock has made Double Bottom on the daily chart, we are just waiting for a breakout. This stock also fallen from the top and tested their support of 1900. Made Hammer before a few days, if we look at the volumes it has increased with the price. So we can expect the same that bulls are active and recently the stock price has bounced from its 20 & 50 DMA. We are expecting some dip before breakout but after resistance break, we are expecting levels of 2400+. The overall trend is up and fundamentally company is strong.

Telegram: https://t.me/Intraday_King

YouTube: Click here
 
Website: http://money4me.in/services.html 

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.