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May 06, 2024
- As per an astrology view, some important turning dates in May 2024 are 8, 14, 21 and 27; and 3rd and 4th June.
- Investors/traders always seek a new stock every day/every week/every month to back a winner. But a market veteran says that the purpose should be wealth creation and it is better to accumulate a good quantity of few stocks with immense potential and focus on them only.
- As per a technical expert, the Nifty may have an upward direction as lot of shorts have been seen. The Nifty RSI is 57 and many have forecast a 20% fall if the NDA bags 295 seats or less. The Dow is trading near 43 RSI, which means that the market may re-bound with zeal if the NDA get 340+ seats. Logically, it’s better to stay long with good stocks as the broad Nifty range may be 22350-23050 till May 2024 end.
- As per a market veteran, trading is for creating capital and investment is for growing that capital. Without trading, how will the capital grow and at what speed? Keep trading and invest trading profits to grow fast. But trading needs essential technical knowledge from an expert. Always trade with discipline and invest trading profits into growth-oriented stocks only.
- As per a market veteran, history repeats itself due to greed for quick fortunes, which has cost millions of dollars. Every trader knows that over-trading is the greatest danger, but he continues this weakness to be his ruin. Hence, you need to develop better market understanding if you want to be a part of 0.01% of the best trader/investor ranking. At least till the results of election strictly avoid over trading. Always trade with a strict stop loss.
- Sterlite Technologies’ US-manufactured fiber optic cable products are compliant with Build America, Buy America provisions of Infrastructure Investment & Jobs Act. Add.
- NALCO’s KABIL signs MoU with CSIR-NGRI for geophysical investigations in critical and strategic minerals sector. Further, metal sector poised for upside rally. Add.
- Hindustan Zinc re-engages with the Govt. for demerger approval, creating two new entities: silver & zinc/lead. Potential for significant wealth creation. Add.
- Biocon receives South African regulatory approval for Tacromilus capsule. Further, it expects 8.7% earnings, 13.1% revenue & 9% EPS growth. Buy.
- GSFC to invest a capex of Rs. 450 cr. in HX crystal, sulphuric acid plan, a 15 MW solar power plant & urea plants by FY25. Favorable monsoon forecasts bode well. Add.
- Laurus Labs passes U.S. FDA inspection at Andhra Pradesh API facilities without observations. Further, it expects 49.1% earnings, 14.1% revenue and 49.5% EPS growth. Buy.
