The third week of December 2024 saw mixed trends in the stock market. Sankalp Stock Talks provided insights into four key stocks: Manappuram Finance, Adani Energy, ACME Solar Holdings, and Punjab National Bank (PNB). Let’s analyze Weekly Stock Market Insights, the performance, possible future outlook, and investment potential of each stock.
In this week we saw that the market all over the indices have been going downwards to a great extent. We need to keep a cautious and patience watch in such type of condition and market environment.
Disclaimer:
All information in this blog post is meant for informational purposes and in no way constitutes financial advice. Investing in the stock market is always subject to risk. The reader is asked to seek his or her own information or consult a certified financial advisor before making any decisions to invest. The analysis presented here is based on our Telegram Channel @SankalpStockTalks weekly share report and is as of December First Week 2024.
YOU CAN DOWNLOAD THE REPORT AS PDF AT THE END OF THE BLOG
Weekly Stock Market Insights
1. Manappuram Finance
- Given Price: ₹172
- CMP (Current Market Price): ₹181
- Possible Upside Range: ₹235, ₹267, ₹350
- % Change: 5.23%
- Remark: Active as of 19.12.2024
Manappuram Finance showed steady growth this week by increasing its CMP 5.23%. It already entered the “active” phase, so this stock has started to move toward the target zones. It is going to present its upside levels in front of investors if this sentiment goes on.
The financial soundness of the company and a strong presence in the gold loan space make it resilient in volatile markets. Major levels to watch are at ₹235 and ₹267. The long-term goal of ₹350 provides high growth potential for swing traders and medium-term investors.
2. Adani Energy
- Given Price Range: ₹700-₹730
- CMP: ₹767
- Possible Upside Range: ₹1,000, ₹1,140
- % Change: N/A (retracement pending at ₹680-₹730)
- Remark: Retracement pending
Adani Energy is currently in a retracement phase. Although the stock is trading above its given price range, a proper pullback to ₹680-₹730 would make it an even better entry point for investors.
The stock has huge long-term potential as Adani Group is aggressively expanding into renewable energy and infrastructure projects. Having set targets at ₹1,000 and ₹1,140, this stock will continue to be a winner in terms of growth. But for investors, it would be advisable to wait for some retracement so that a safer entry can be ensured.
3. ACME Solar Holdings
- Given Price: ₹250
- CMP: ₹232
- Possible Upside Range: ₹316, ₹350
- % Change: -7.20%
- Remark: Active as of 17.12.2024
ACME Solar Holdings decreased this week, bringing down its CMP by 7.20%. However, on the whole, it does look positive for renewable energy going forward. Since this stock is in an “active” phase, traders would look for signs to rise again and start looking northward.
The future for the company ACME Solar revolves around the growing demands on solar power solutions along with favorable government policies. More patience and a longer sight may pay off investors once the stock resumes uptrends towards ₹316 and ₹350.
4. Punjab National Bank (PNB)
- Given Price: ₹100
- CMP: ₹100.8
- Possible Upside Range: ₹118, ₹130, ₹151
- % Change: 0.77%
- Remark: Active as of 19.12.2024
PNB has observed minor gains this week by recording a gain of 0.77% in its CMP. It’s trading within the retracement zone, hence expected to move ahead. The spotlight for the banking sector would be better financial results as well as NPAs being resolved.
The short-term targets for PNB are ₹118 and ₹130. Long term investors can look for ₹151, as the stock is likely to move on in this trend. History of dividend payout and lessened working capital days points to the improvement in its operational efficiency of the bank.
Market Overview and Investor Tips
- Volatility Levels: The report uses the retracement zones and pullback levels for safe investments. The levels of the given stock will ensure a calculated approach to trading.
- Sectoral Insights:
- The renewable energy sector (Adani Energy, ACME Solar Holdings) has strong long-term growth potential.
- The banking sector is looking to recover, especially for PNB, thus being a good option for moderately risk-taking investors.
- Manappuram Finance: The gold loan market remains resilient in turbulent times.
- Educational Disclaimer: This report is only for educational purposes. Investors should consult financial advisors before taking any decisions.
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