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When short-term capital gains tax was 15% and LTCG nil, the difference between the two taxes acted as an incentive for investors to be long-term holders. But with the difference being reduced to 5%, the incentive to hold for the long term is gone, explained Agarwal.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. >> For more such web stories click on the ET icon below

The stock quoted a 52-week high price of Rs 919.5 and low of Rs 595.85.

The brokerage has remained positive on the stock but said a re-rating looks unlikely given premium valuations and likely disruption due to the entry of a large player. It has an accumulate rating on the stock with a target price of Rs 3326.

To woo mom-and-pop investors to buy into his ports-to-power empire’s flagship, Adani Enterprises Ltd. will sell new shares at a discount and allow payments in three installments when it rolls out its $2.5 billion follow-on offer later this month — an unprecedented move for one of the country’s hottest stocks. For a stock that has rallied over 1,400% since early 2020, sweeteners are crucial to woo retail investors.

Global investment bank, Jefferies maintained its buy rating on HUL post Q3 results but slashed its target price to Rs 3100 from Rs 3150 earlier which still translates into an upside of about 17% from Rs 2650 recorded on 19 January.

Lower-than-expected urban recovery and potential execution challenges in new categories are key risks.

On the technical charts, the RSI of the stock stood at 43.21.

However, on the short-term time frame, the momentum indicators suggest that the stock is in an overbought zone and high chances of quick short-term correction are not ruled out if the stock trades below 368 or 10-Day SMA.

Amid impressive credit growth, banks remain the top pick of most brokerages despite the FII selling. On IT, however, many analysts have a cautious stance saying they expect more pain ahead due to global macro factors.