Channel: EQUITY IDEAS
*F&O Strategy: Wipro: Bull Call Spread*
Thanks to the strong rally last week, the short-term outlook turned positive for Wipro (₹484.55). However, the long-term outlook will turn positive only on a close above ₹603. Immediate supports are at ₹456 and ₹434.
```F&O pointers```: Wipro June futures closed at ₹485.40 against the spot price of ₹484.55. The June futures witnessed unwinding of open positions in the last few days even as the stock price was moving up. This and the small premium over the spot price indicate traders are willing to book profits rather than rolling over their positions.
```Strategy
Thanks to the strong rally last week, the short-term outlook turned positive for Wipro (₹484.55). However, the long-term outlook will turn positive only on a close above ₹603. Immediate supports are at ₹456 and ₹434.
```F&O pointers```: Wipro June futures closed at ₹485.40 against the spot price of ₹484.55. The June futures witnessed unwinding of open positions in the last few days even as the stock price was moving up. This and the small premium over the spot price indicate traders are willing to book profits rather than rolling over their positions.
```Strategy
As the market lot is 1,500 shares, this strategy would cost traders ₹4,875, which would be the maximum loss. The maximum loss would happen if the stock is stuck below ₹490. However, a close above ₹500 will yield a profit of ₹6.75 or ₹10,125 per lot. We advise traders to hold the position for the next two weeks. Stay away from trading if the stock rises sharply on Monday.Follow-up```: We had advised buying 70,000-strike call of Nifty Next 50. As expected, the market was volatile, and the index too swung extremely. It would have provided profit opportunities but for those who failed to exit, the position would have turned negative. We advise traders who are still holding to exit.
Forwarded from BookWorld
The Five Rules for Successful Stock Investing.pdf
3.3 MB
Document from Srikanth Matrubai
*Mastering Derivatives: When shorts go marching in*
Some brokers do not allow their clients to buy deep out-of-the-money (OTM) strikes but may allow them to short these strikes. A SEBI-mandated disclosure that you read and agree when you login to your trading account tells you that nine of 10 traders incur losses trading options. Also, many market participants believe that options price-in high levels of volatility. These are several reasons traders are tempted to short options. This week, using option Greeks, we look at why shorting options may be risky, despite the likelihood of earning continual gains.
*_Delta and theta_*
An option’s delta is the important reason you gain from your option position. The delta is the change in the option price for a one-point change in the underlying price. So, if the underlying moves up 20 points, a call option price will move up too, determined by its option delta. But it is the gamma that determines how the delta moves. The gamma increases the speed of a call delta when an underlying moves up and reduces the speed when the underlying declines. At the outset, this appears beneficial for long positions and unfavourable for short positions.
But there is another factor to consider. When an underlying moves up, an option’s delta and gamma are beneficial, but the theta (time decay) works against the long position. When the underlying declines, the option’s delta and the theta work against the long position with only gamma working in its favour. As delta is a large number, a long call position loses significant value when the underlying declines. And losses to the long position means gains for the short position. There is, hence, a good reason for traders to short options. The gains can be significant, and the probability that an option will expire worthless is also high. So, why are short positions considered risky?
When the underlying dramatically moves up, your short call position will gather large losses. Such losses may be more than the gains you may have made in several short trades. So, managing your short position requires good discipline. The issue is that continual gains you make on your short positions may lure you into a sense of complacency, and you may fail to cut your losses when the underlying moves against you.
*_Optional reading_*
An optimal scenario for shorting is when the underlying has just slipped into a consolidation phase after a significant uptrend or downtrend. During this phase, the underlying can move slowly in the opposite direction to the prior trend or can move sideways. If it moves in the opposite direction, your profits will be greater because of gains from the option’s delta and theta. If price moves sideways, the gains will come primarily from theta. One disadvantage from this strategy is that an option’s implied volatility may not be high when an underlying is trending in one direction. So, the implied volatility’s contribution to time decay may be insignificant.
Some brokers do not allow their clients to buy deep out-of-the-money (OTM) strikes but may allow them to short these strikes. A SEBI-mandated disclosure that you read and agree when you login to your trading account tells you that nine of 10 traders incur losses trading options. Also, many market participants believe that options price-in high levels of volatility. These are several reasons traders are tempted to short options. This week, using option Greeks, we look at why shorting options may be risky, despite the likelihood of earning continual gains.
*_Delta and theta_*
An option’s delta is the important reason you gain from your option position. The delta is the change in the option price for a one-point change in the underlying price. So, if the underlying moves up 20 points, a call option price will move up too, determined by its option delta. But it is the gamma that determines how the delta moves. The gamma increases the speed of a call delta when an underlying moves up and reduces the speed when the underlying declines. At the outset, this appears beneficial for long positions and unfavourable for short positions.
But there is another factor to consider. When an underlying moves up, an option’s delta and gamma are beneficial, but the theta (time decay) works against the long position. When the underlying declines, the option’s delta and the theta work against the long position with only gamma working in its favour. As delta is a large number, a long call position loses significant value when the underlying declines. And losses to the long position means gains for the short position. There is, hence, a good reason for traders to short options. The gains can be significant, and the probability that an option will expire worthless is also high. So, why are short positions considered risky?
When the underlying dramatically moves up, your short call position will gather large losses. Such losses may be more than the gains you may have made in several short trades. So, managing your short position requires good discipline. The issue is that continual gains you make on your short positions may lure you into a sense of complacency, and you may fail to cut your losses when the underlying moves against you.
`Note for traders: One disadvantage from this strategy is that an option’s implied volatility may not be high when an underlying is trending in one direction```*_Optional reading_*
An optimal scenario for shorting is when the underlying has just slipped into a consolidation phase after a significant uptrend or downtrend. During this phase, the underlying can move slowly in the opposite direction to the prior trend or can move sideways. If it moves in the opposite direction, your profits will be greater because of gains from the option’s delta and theta. If price moves sideways, the gains will come primarily from theta. One disadvantage from this strategy is that an option’s implied volatility may not be high when an underlying is trending in one direction. So, the implied volatility’s contribution to time decay may be insignificant.
B&K Securities Trinity India 2024- Post Conference Report
Auto & Auto Ancillaries
Top Ideas: M&M, ZFCV, Sundram Fasteners and Sandhar Technologies.
BFSI: Banks
Top ideas: Karur Vysya Bank and Jammu & Kashmir Bank (Not Rated)
BFSI: NBFCs
Top ideas: Shriram Finance, Chola Finance and Home First Finance.
BFSI: Non-Lending
Top idea: Prudent Corporate Advisory Services.
Cement
Top idea: Shree Cement
Chemicals
Top ideas: PI Industries, Sudarshan Chemical and Vinati Organics (Not Rated).
Consumer Durables
Top idea: Voltas.
Consumer Staples
Top ideas: Colgate-Palmolive and Emami.
Auto & Auto Ancillaries
Top Ideas: M&M, ZFCV, Sundram Fasteners and Sandhar Technologies.
BFSI: Banks
Top ideas: Karur Vysya Bank and Jammu & Kashmir Bank (Not Rated)
BFSI: NBFCs
Top ideas: Shriram Finance, Chola Finance and Home First Finance.
BFSI: Non-Lending
Top idea: Prudent Corporate Advisory Services.
Cement
Top idea: Shree Cement
Chemicals
Top ideas: PI Industries, Sudarshan Chemical and Vinati Organics (Not Rated).
Consumer Durables
Top idea: Voltas.
Consumer Staples
Top ideas: Colgate-Palmolive and Emami.
*Technical Analysis: Zee Entertainment Enterprises (ZEEL), Castrol India, TCI Express*
We zoom in on the prospects of Zee Entertainment Enterprises (ZEEL), as also the prospects of two other stocks — Castrol India, TCI Express
I have bought shares of Castrol India at ₹168. Should I hold this stock or sell at current levels?```
*_Castrol India (₹194.95)_*: The short-term outlook is slightly unclear. The stock has been struggling to get a strong follow-through rise above ₹200 since February this year. However, strong support is in the ₹160-150 region. As long as the stock stays above ₹150, the broader uptrend will remain intact. Castrol India share price has potential to target ₹250 in the coming months. From a long-term perspective, a decisive break above ₹250 can take the stock up to ₹380 over the next three years or so.
If you are a long-term investor, keep a stop-loss at ₹140 and continue to hold the stock. Move the stop-loss up to ₹230 when the price goes up to ₹280. Move the stop-loss further up to ₹310 when the price goes up to ₹340. Exit the stock at ₹380. If you do not intend to hold the stock for three years, then you can exit at ₹250. In that case, you can consider reinvesting the sale proceeds in some other stock. Maybe you can consider Zee Entertainment Enterprises explained in the previous query. You can enter this stock at the prevailing price at that time.
*_TCI Express (₹1,078.70)_*: The stock has been in a strong downtrend since December 2021. This downtrend is still intact. Within this, the stock has been consolidating above ₹1,000 since mid-March this year. Strong resistance is in the broad ₹1,200-1,300 region. TCI Express share price has to breach ₹1,300 and then should rise past ₹1,400 subsequently to indicate a trend reversal and become bullish. That looks less likely now. On the charts, there is room for one more leg of fall.
A decisive break below ₹1,000 can drag TCI Express share price down to ₹800-790 over the next couple of quarters or earlier than that. From a long-term perspective, the stock can find a bottom around ₹800. A fresh leg of rise from around ₹800 will have the potential to take TCI Express share price to ₹1,500 over the next two-three years. If you want to invest in this stock, you may have to wait for further fall and invest at around ₹810. Keep a stop-loss at ₹680 for a target of ₹1,500. Trail the stop-loss up to ₹1,130 as soon as the stock goes up to ₹1,250. Move the stop-loss further up to ₹1,320 when the price touches ₹1,430.
We zoom in on the prospects of Zee Entertainment Enterprises (ZEEL), as also the prospects of two other stocks — Castrol India, TCI Express
*_Zee Entertainment Enterprises (₹156.55)_*: The stock has been in a downtrend since 2018. The share price had tumbled from a high around ₹619 in January 2018. But from a very long-term picture, there is a strong support around ₹115. The price action over the last couple of months also indicates that the stock has been getting buyers below ₹120. So, there are good chances that a bottom is getting formed in Zee Entertainment Enterprises. From a multi-year perspective, a strong rise from around ₹115 can take the share price up to ₹300-350.
This might happen by early next year. A strong break above ₹350 will have the potential to target ₹650-700 over the next three years or so. If you can hold the stock for another three years, then this is a good time to accumulate at current levels. Keep a stop-loss at ₹85. Move the stop-loss up to ₹280 as soon as the stock goes up to ₹360. Move the stop-loss further up to ₹480 when the price touches ₹570. Exit the stock at ₹650.
I have bought shares of Castrol India at ₹168. Should I hold this stock or sell at current levels?```
*_Castrol India (₹194.95)_*: The short-term outlook is slightly unclear. The stock has been struggling to get a strong follow-through rise above ₹200 since February this year. However, strong support is in the ₹160-150 region. As long as the stock stays above ₹150, the broader uptrend will remain intact. Castrol India share price has potential to target ₹250 in the coming months. From a long-term perspective, a decisive break above ₹250 can take the stock up to ₹380 over the next three years or so.
If you are a long-term investor, keep a stop-loss at ₹140 and continue to hold the stock. Move the stop-loss up to ₹230 when the price goes up to ₹280. Move the stop-loss further up to ₹310 when the price goes up to ₹340. Exit the stock at ₹380. If you do not intend to hold the stock for three years, then you can exit at ₹250. In that case, you can consider reinvesting the sale proceeds in some other stock. Maybe you can consider Zee Entertainment Enterprises explained in the previous query. You can enter this stock at the prevailing price at that time.
`Can I invest in TCI Express at current levels? What is the long-term outlook for this stock?```*_TCI Express (₹1,078.70)_*: The stock has been in a strong downtrend since December 2021. This downtrend is still intact. Within this, the stock has been consolidating above ₹1,000 since mid-March this year. Strong resistance is in the broad ₹1,200-1,300 region. TCI Express share price has to breach ₹1,300 and then should rise past ₹1,400 subsequently to indicate a trend reversal and become bullish. That looks less likely now. On the charts, there is room for one more leg of fall.
A decisive break below ₹1,000 can drag TCI Express share price down to ₹800-790 over the next couple of quarters or earlier than that. From a long-term perspective, the stock can find a bottom around ₹800. A fresh leg of rise from around ₹800 will have the potential to take TCI Express share price to ₹1,500 over the next two-three years. If you want to invest in this stock, you may have to wait for further fall and invest at around ₹810. Keep a stop-loss at ₹680 for a target of ₹1,500. Trail the stop-loss up to ₹1,130 as soon as the stock goes up to ₹1,250. Move the stop-loss further up to ₹1,320 when the price touches ₹1,430.
*Movers & Shakers: Stocks that will see action this week*
Here is what the charts say about the shares of Aarti Industries, Dr Lal PathLabs and SRF
*_Aarti Industries (₹634.6)_*
On the verge of a breakout```
The stock of Dr Lal PathLabs has been fluctuating in a broad ₹1,820-2,800 price band since March 2022. But the recent rally that began in March this year shows potential for a fresh breakout. Since the stock closed near the range-top last week, we can expect the price to soften a bit, possibly to ₹2,500. But it can resume the upswing, break out of ₹2,800 and head to ₹3,700 over the medium term.
While risk-averse traders can wait for a clear breakout and buy, others can go long now at ₹2,800. Accumulate at ₹2,500. Place stop-loss at ₹2,325. When the stock moves above ₹3,000, raise the stop-loss to ₹2,800. On a rally to ₹3,300, liquidate half of the longs and then modify the stop-loss to ₹3,100. Exit the remaining at ₹3,650.
*_SRF (₹2,310.2)_*
SRF’s stock, since October 2021, has been tracing a sideways trend. That is, the scrip has been oscillating in the broad range of ₹2,100-2,700. Ideally, the trend is flat. However, there is a short-term opportunity. The stock is now hovering near the bottom of the range and last week, it formed a bullish pin-bar candlestick. These factors increase the chance for a rally from here.
So, we suggest going long on the stock of SRF, now at ₹2,310. Buy more shares if the price dips to ₹2,150. Place stop-loss at ₹2,050. When the price rises past ₹2,430, modify the stop-loss to ₹2,300. Move the stop-loss further up to ₹2,500 when the stock touches ₹2,600. Liquidate the longs at ₹2,670.
Here is what the charts say about the shares of Aarti Industries, Dr Lal PathLabs and SRF
*_Aarti Industries (₹634.6)_*
The stock of Aarti Industries faced a resistance at ₹750 in April and the price declined. However, looking at the long-term trend, the recent fall is likely to be only a corrective one. We forecast the stock to resume the rally from the current level. While there might be a minor dip to ₹600, the stock is expected to move up eventually and surpass ₹750 to hit ₹950 in the coming months.
So, buy now at around ₹634 and accumulate at ₹600. Place the stop-loss at ₹540. When the stock rises above ₹700, modify the stop-loss to ₹620. Raise the stop-loss to ₹680 when the price goes beyond ₹770. At ₹850, exit one-third of the holding and alter the stop-loss for the remaining to ₹780. Liquidate the balance at ₹950.
*_Dr Lal PathLabs (₹2,797.8)_*
On the verge of a breakout```
The stock of Dr Lal PathLabs has been fluctuating in a broad ₹1,820-2,800 price band since March 2022. But the recent rally that began in March this year shows potential for a fresh breakout. Since the stock closed near the range-top last week, we can expect the price to soften a bit, possibly to ₹2,500. But it can resume the upswing, break out of ₹2,800 and head to ₹3,700 over the medium term.
While risk-averse traders can wait for a clear breakout and buy, others can go long now at ₹2,800. Accumulate at ₹2,500. Place stop-loss at ₹2,325. When the stock moves above ₹3,000, raise the stop-loss to ₹2,800. On a rally to ₹3,300, liquidate half of the longs and then modify the stop-loss to ₹3,100. Exit the remaining at ₹3,650.
*_SRF (₹2,310.2)_*
`Forms bullish pin bar```SRF’s stock, since October 2021, has been tracing a sideways trend. That is, the scrip has been oscillating in the broad range of ₹2,100-2,700. Ideally, the trend is flat. However, there is a short-term opportunity. The stock is now hovering near the bottom of the range and last week, it formed a bullish pin-bar candlestick. These factors increase the chance for a rally from here.
So, we suggest going long on the stock of SRF, now at ₹2,310. Buy more shares if the price dips to ₹2,150. Place stop-loss at ₹2,050. When the price rises past ₹2,430, modify the stop-loss to ₹2,300. Move the stop-loss further up to ₹2,500 when the stock touches ₹2,600. Liquidate the longs at ₹2,670.
Industrials
Top ideas: L&T, Cummins and Titagarh Rail Systems.
IT Services/Products
Top Ideas: Affle (India) and RateGain Travel Technologies (Not Rated).
Metals: Steel Pipes
Top idea: Electrosteel Castings.
Metals: Wire Ropes
Top idea: Usha Martin
Pharma & Healthcare
Top Ideas: Sun Pharma, Neuland and Caplin Point
Oil & Gas
Top idea: GAIL (India)
Real Estate
Top ideas: Century Textiles and Arvind SmartSpaces (Not Rated).
Retail
Top ideas: Trent and Westlife Foodworld.
Staffing
Top idea: TeamLease Services
Sugar
Top idea: Balrampur Chini Mills
Textiles
Top idea: KPR Mill.
Top ideas: L&T, Cummins and Titagarh Rail Systems.
IT Services/Products
Top Ideas: Affle (India) and RateGain Travel Technologies (Not Rated).
Metals: Steel Pipes
Top idea: Electrosteel Castings.
Metals: Wire Ropes
Top idea: Usha Martin
Pharma & Healthcare
Top Ideas: Sun Pharma, Neuland and Caplin Point
Oil & Gas
Top idea: GAIL (India)
Real Estate
Top ideas: Century Textiles and Arvind SmartSpaces (Not Rated).
Retail
Top ideas: Trent and Westlife Foodworld.
Staffing
Top idea: TeamLease Services
Sugar
Top idea: Balrampur Chini Mills
Textiles
Top idea: KPR Mill.
Nirmal Bang sees 17% UPSIDE in Dabur India (DABUR)- High quality play on potential rural recovery
Centrum Update on India Consumer - Discretionary Retail- Jewellery/apparel sector thrives, yet QSRs grapple
Kalyan Jewellers | BUY | TP 496 |
Titan | BUY | TP 4243 |
V-Mart Retail | BUY | TP 2719 |
Jubilant Foodworks | BUY | TP 590 |
Devyani International | ADD | TP 170 |
Westlife Foodworld | REDUCE | TP 843 |
Sapphire Foods | ADD | TP 1485 |
RBA | REDUCE | TP 106 |
Avenue Supermarts | ADD | TP 4826 |
Bata India | ADD | TP 1436 |
Metro Brands | ADD | TP 1261 |
Relaxo Footwear | ADD | TP 950 |
Page Industries | ADD | TP 36762 |
Trent | ADD | TP 4564 |
VIP Industries | BUY | TP 606 |
Safari Industries | BUY | TP 2485 |
La Opala | BUY | TP 441 |
CCL Product | ADD | TP 636 |
Mold-Tek | BUY | TP 970 |
Kalyan Jewellers | BUY | TP 496 |
Titan | BUY | TP 4243 |
V-Mart Retail | BUY | TP 2719 |
Jubilant Foodworks | BUY | TP 590 |
Devyani International | ADD | TP 170 |
Westlife Foodworld | REDUCE | TP 843 |
Sapphire Foods | ADD | TP 1485 |
RBA | REDUCE | TP 106 |
Avenue Supermarts | ADD | TP 4826 |
Bata India | ADD | TP 1436 |
Metro Brands | ADD | TP 1261 |
Relaxo Footwear | ADD | TP 950 |
Page Industries | ADD | TP 36762 |
Trent | ADD | TP 4564 |
VIP Industries | BUY | TP 606 |
Safari Industries | BUY | TP 2485 |
La Opala | BUY | TP 441 |
CCL Product | ADD | TP 636 |
Mold-Tek | BUY | TP 970 |
Industrials
Top ideas: L&T, Cummins and Titagarh Rail Systems.
IT Services/Products
Top Ideas: Affle (India) and RateGain Travel Technologies (Not Rated).
Metals: Steel Pipes
Top idea: Electrosteel Castings.
Metals: Wire Ropes
Top idea: Usha Martin
Pharma & Healthcare
Top Ideas: Sun Pharma, Neuland and Caplin Point
Oil & Gas
Top idea: GAIL (India)
Real Estate
Top ideas: Century Textiles and Arvind SmartSpaces (Not Rated).
Retail
Top ideas: Trent and Westlife Foodworld.
Staffing
Top idea: TeamLease Services
Sugar
Top idea: Balrampur Chini Mills
Textiles
Top idea: KPR Mill.
Bk Securities
Top ideas: L&T, Cummins and Titagarh Rail Systems.
IT Services/Products
Top Ideas: Affle (India) and RateGain Travel Technologies (Not Rated).
Metals: Steel Pipes
Top idea: Electrosteel Castings.
Metals: Wire Ropes
Top idea: Usha Martin
Pharma & Healthcare
Top Ideas: Sun Pharma, Neuland and Caplin Point
Oil & Gas
Top idea: GAIL (India)
Real Estate
Top ideas: Century Textiles and Arvind SmartSpaces (Not Rated).
Retail
Top ideas: Trent and Westlife Foodworld.
Staffing
Top idea: TeamLease Services
Sugar
Top idea: Balrampur Chini Mills
Textiles
Top idea: KPR Mill.
Bk Securities
ICICI Securities Update on Oil & Gas- Global macros remain favourable, but risks to margins deserve attention
Mahanagar Gas (BUY)
Gujarat Gas (SELL)
Indraprastha Gas (ADD)
GAIL India (BUY)
Petronet LNG (REDUCE)
Gujarat State Petronet (REDUCE)
Oil India (BUY)
ONGC (BUY)
Reliance (HOLD)
HPCL(BUY)
GOLI (BUY)
Mahanagar Gas (BUY)
Gujarat Gas (SELL)
Indraprastha Gas (ADD)
GAIL India (BUY)
Petronet LNG (REDUCE)
Gujarat State Petronet (REDUCE)
Oil India (BUY)
ONGC (BUY)
Reliance (HOLD)
HPCL(BUY)
GOLI (BUY)
Major Stocks To Turn Ex-Dividend Next Week.
1. Asian Paint
Ex-Dividend Date :- Jun 11, 2024
Dividend Per Share :- 28.15/-
2. Tata motors
Ex-Dividend Date :- June 11, 2024
Dividend Per Share :- 6/-
3. Tata Chemical
Ex-Dividend Date :- Jun 12, 2024
Dividend Per Share :- 15/-
4. Tata Tech
Ex-Dividend Date :- Jun 13, 2024
Dividend Per Share :- 8.40/-
5. Adani Port
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 6/-
6. Adani Total Gas
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 0.25/-
7. Adani Enterprises
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 1.30/-
8. Canara Bank
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 3.22/-
9. HUL
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 24/-
10. Happiest Minds
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 3.25/-
1. Asian Paint
Ex-Dividend Date :- Jun 11, 2024
Dividend Per Share :- 28.15/-
2. Tata motors
Ex-Dividend Date :- June 11, 2024
Dividend Per Share :- 6/-
3. Tata Chemical
Ex-Dividend Date :- Jun 12, 2024
Dividend Per Share :- 15/-
4. Tata Tech
Ex-Dividend Date :- Jun 13, 2024
Dividend Per Share :- 8.40/-
5. Adani Port
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 6/-
6. Adani Total Gas
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 0.25/-
7. Adani Enterprises
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 1.30/-
8. Canara Bank
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 3.22/-
9. HUL
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 24/-
10. Happiest Minds
Ex-Dividend Date :- Jun 14, 2024
Dividend Per Share :- 3.25/-
*Outlook for 11 June, 2024*
Shrikant Chouhan - Head Equity Research, Kotak Securities```
Yesterday, the benchmark indices witnessed narrow range activity, the Nifty ends 31 points lower while the Sensex was down by 203 points.
Among sectors, Realty, and Media indices rallied over 1 percent whereas IT index was the top loser by shedding 1.84 percent. Technically, after a positive opening entire day the market hovered between 23,230 to 23,400/76,400-77,000. Intraday range bound activity and small bearish candle on daily charts after a strong rally indicates indecisiveness between the bulls and bears. For the day traders now, 23,400/77,000 would be the immediate resistance level. As long as the market is trading below the same, the correction formation is likely to continue. Below the same, the market could slip till 23,100-23,025/76,100-76,000. On the flip side, post 23,400/77,000 breakout the index could move up to 23,500-23,520/77,300-77,400. Contra traders can take long bet near 23,025/76,000 with strict 30/100 points stop loss.
Nifty opened gap up and consolidated for the day to close in the red down ~50 points. On the daily charts, we can observe that the Nifty touched a new all-time high of 23,412. The Nifty has witnessed a 2,100-point rally from last week. The hourly momentum indicator has triggered a negative crossover suggesting loss of momentum. Hence, there can be some consolidation in the near term and the Nifty is likely to drift towards 23,160 – 23,100 over the next couple of trading sessions failing to sustain can lead to a fall to 22,930. On the upside, 23,420 – 23,500 is the immediate hurdle zone.
Bank Nifty witnessed continuation of the pullback and however it faced resistance at the 50,250 mark which coincides with 78.6% retracement mark. Thus, the sharp rally seems to be running out of steam and now is poised for consolidation in the near term. Crucial support 49,320 – 49,070 while immediate hurdle is placed at 50,250 – 50350.
The Indian market currently lacks fresh catalysts following the formation of the new government at the Centre, suggesting that some consolidation may occur in the near term. Institutional flows indicate a mixed trend, with FIIs gradually covering their shorts and DIIs booking profits after the market reached historic highs. Meanwhile, optimism about a rate cut is waning as US economic data points remain healthy. US Federal Reserve is expected to continue its current stance. However, any dial-back of the rate cut guided earlier could test market patience.
Shrikant Chouhan - Head Equity Research, Kotak Securities```
Yesterday, the benchmark indices witnessed narrow range activity, the Nifty ends 31 points lower while the Sensex was down by 203 points.
Among sectors, Realty, and Media indices rallied over 1 percent whereas IT index was the top loser by shedding 1.84 percent. Technically, after a positive opening entire day the market hovered between 23,230 to 23,400/76,400-77,000. Intraday range bound activity and small bearish candle on daily charts after a strong rally indicates indecisiveness between the bulls and bears. For the day traders now, 23,400/77,000 would be the immediate resistance level. As long as the market is trading below the same, the correction formation is likely to continue. Below the same, the market could slip till 23,100-23,025/76,100-76,000. On the flip side, post 23,400/77,000 breakout the index could move up to 23,500-23,520/77,300-77,400. Contra traders can take long bet near 23,025/76,000 with strict 30/100 points stop loss.
`Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas```Nifty opened gap up and consolidated for the day to close in the red down ~50 points. On the daily charts, we can observe that the Nifty touched a new all-time high of 23,412. The Nifty has witnessed a 2,100-point rally from last week. The hourly momentum indicator has triggered a negative crossover suggesting loss of momentum. Hence, there can be some consolidation in the near term and the Nifty is likely to drift towards 23,160 – 23,100 over the next couple of trading sessions failing to sustain can lead to a fall to 22,930. On the upside, 23,420 – 23,500 is the immediate hurdle zone.
Bank Nifty witnessed continuation of the pullback and however it faced resistance at the 50,250 mark which coincides with 78.6% retracement mark. Thus, the sharp rally seems to be running out of steam and now is poised for consolidation in the near term. Crucial support 49,320 – 49,070 while immediate hurdle is placed at 50,250 – 50350.
Systematix Update on EMS Industry- A mixed bag 4Q; management guidance remains robust
Amber Enterprises | HOLD | TP 4177 |
Avalon Technologies | HOLD | TP 514 |
Dixon Technologies | HOLD | TP 10107 |
Elin Electronics | BUY | TP 182 |
Kaynes Technology | HOLD | TP 3381 |
PG Electroplast | BUY | TP 2952 |
Syrma SGS Technology | HOLD | TP 488 |
Cyient DLM | NR |
Amber Enterprises | HOLD | TP 4177 |
Avalon Technologies | HOLD | TP 514 |
Dixon Technologies | HOLD | TP 10107 |
Elin Electronics | BUY | TP 182 |
Kaynes Technology | HOLD | TP 3381 |
PG Electroplast | BUY | TP 2952 |
Syrma SGS Technology | HOLD | TP 488 |
Cyient DLM | NR |
Man Infraconstruction Limited has acquired a prime redevelopment project at Bandra Kurla Complex (BKC) in Mumbai. The project spans approximately 5.0 lakh square feet and is expected to be completed within 3 years. The company holds a 34% stake in the project, aiming to bolster its presence in the Mumbai region.
*Key Events This Week:*
🎯 OPEC Monthly Report - Tuesday
🎯 May CPI Inflation data - Wednesday
🎯 Fed Interest Rate Decision - Wednesday
🎯 Fed Press Conference - Wednesday
🎯 May PPI Inflation data - Thursday
🎯 MI Consumer Sentiment data - Friday
*It's Fed week with Inflation data and volatility is back.*
🎯 OPEC Monthly Report - Tuesday
🎯 May CPI Inflation data - Wednesday
🎯 Fed Interest Rate Decision - Wednesday
🎯 Fed Press Conference - Wednesday
🎯 May PPI Inflation data - Thursday
🎯 MI Consumer Sentiment data - Friday
*It's Fed week with Inflation data and volatility is back.*
Prabhudas Lilladher Update on Pharma- Strong uptick in gross margin
Aurobindo Pharma | ACC |TP 1300 |
Cipla | ACC |TP 1405 |
Divi's Laboratories | ACC |TP 4350 |
Dr. Reddy's Laboratories | REDUCE |TP 5700 |
Eris Lifesciences | BUY |TP 1100 |
Indoco Remedies | ACC |TP 335 |
Ipca Laboratories | REDUCE |TP 1150 |
J.B. Chemicals & Pharma | BUY |TP 1920 |
Lupin | HOLD |TP 1675 |
Sun Pharmaceutical | BUY |TP 1710 |
Torrent Pharmaceuticals | BUY |TP 2900 |
Zydus Lifesciences | ACC |TP 1130 |
Aurobindo Pharma | ACC |TP 1300 |
Cipla | ACC |TP 1405 |
Divi's Laboratories | ACC |TP 4350 |
Dr. Reddy's Laboratories | REDUCE |TP 5700 |
Eris Lifesciences | BUY |TP 1100 |
Indoco Remedies | ACC |TP 335 |
Ipca Laboratories | REDUCE |TP 1150 |
J.B. Chemicals & Pharma | BUY |TP 1920 |
Lupin | HOLD |TP 1675 |
Sun Pharmaceutical | BUY |TP 1710 |
Torrent Pharmaceuticals | BUY |TP 2900 |
Zydus Lifesciences | ACC |TP 1130 |
https://youtu.be/y5oWQ1VaczI?si=mUBrnXiBO4ot4Pj9
My interview by No.1 You Tube channel in Kannada
Please go through the video & share your comments
My interview by No.1 You Tube channel in Kannada
Please go through the video & share your comments
YouTube
ನೀವು ದುಡ್ಡು ಉಳಿಸುವುದನ್ನು ಭಗವದ್ಗೀತೆ ಮತ್ತು ರಾಮಾಯಣದಿಂದಲೂ ಕಲಿಯಬಹುದು!!
ನಾವು ನಮ್ಮ ಅಳತೆಗೆ ತಕ್ಕ ಟೈಲರನ್ನಿಟ್ಟು ಕೊಂಡಿದ್ದೇವೆ. ಆರೋಗ್ಯದ ಸಮಸ್ಯೆಗೆ ಡಾಕ್ಟರನ್ನು ಗುರುತು ಮಾಡಿ ಇಟ್ಟುಕೊಂಡಿದ್ದೇವೆ. ಆದರೆ ಹಣಕಾಸಿನ ವ್ಯವಹಾರಕ್ಕೆ ಹೂಡಿಕೆಗೆ ತಜ್ಞರನ್ನು ಇಟ್ಟುಕೊಳ್ಳುವ ಗೊಡವಿಗೆ ಹೋಗಿಲ್ಲ. ಏಕೆಂದರೆ ನಮಗೆ ಮಾರುಕಟ್ಟೆಯ ಸಂಪೂರ್ಣ ಅರಿವು ಇಲ್ಲದಿರುವುದು ಮತ್ತು ಶಾಲೆ ಕಾಲೇಜುಗಳಲ್ಲಿ…
As per media reports:
*Vodafone Idea gets in-principle approval for Rs 14,000-crore loan from SBI-led consortium.*
easing out liquidity situation for the company.
*Vodafone Idea gets in-principle approval for Rs 14,000-crore loan from SBI-led consortium.*
easing out liquidity situation for the company.
HTML Embed Code: