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herkoalaperson · 3 years

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At 8:15 am IST, SGX Nifty Futures was trading at 15,782, compared with Nifty’s close of 15,812 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Four

Global stock markets: Dow 30, -0.3%; Nasdaq, -0.4%; S&P 500, -0.4%; Kospi, -0.4%; Nikkei, -0.3%; Shanghai Composite, -0.9%

Yesterday, Nifty gained about 100 points at the opening, taking cues from global markets. The index consolidated its gains and traded in a narrow range to close near the day’s high. In the process, Nifty reclaimed its 21-DMA. Volume was higher compared to that in the previous session. In the broader market, the Smallcap index outperformed, while Midcap underperformed for the day.

On the sectoral front, among major sectors, barring Nifty FMCG (-0.2%) and Nifty IT (-0.3%), all closed in the green. Nifty Fin Service (+1.5%) was the day’s highest gainer followed by Nifty Bank and Nifty PVT Bank , which advanced 1.4% each. The advance-decline ratio was in favor of advancers. Out of 2,317 stocks traded, 1,053 stocks advanced, 885 stocks declined, and the remaining closed flat.

Nifty has reclaimed its 21-DMA. It is crucial for the index to hold and trade above this level. On the flip side, the distribution day count is currently at four. If the index falls further and adds a distribution day, we may change the market status to an Uptrend Under Pressure. We continue to recommend a selective approach to increasing risk. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Tata Metaliks (Nse) announced Q1 FY22 results. Revenue surged 187% y/y to Rs 602.9 crore. It reported a profit of Rs 94.7 crore compared to a loss of Rs 12.3 crore in Q1 FY21.

Adani Enterprises (Nse) has taken over the management of Mumbai International Airport from the GVK Group.

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#SGX Nifty Indicates Muted Opening; Infosys and L&T Technology Services to Announce Results Today

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herkoalaperson · 3 years

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At 8:15 am IST, SGX Nifty Futures was trading at 15,830, compared with Nifty’s close of 15,879 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Four

Global stock markets: Dow 30, +0.3%; Nasdaq, +0.1%; S&P 500, +0.3%; Kospi, -0.5%; Nikkei, -0.5%; Shanghai Composite, -0.3%

Yesterday, Nifty opened flat and hit the day’s low in the first hour of trading. However, it gradually recovered from there to close near the day’s high, retaining decent gains. Volume was lower than in the previous session. The broader market outperformed benchmark indices. The Midcap and Smallcap indices were up 0.7% and 0.6%, respectively.

On the sectoral front, barring Nifty Auto (-0.1%) and Media (-0.2%), all indices closed in the green. Nifty Metal (+2.2%) was the top gainer, while Nifty Realty and Finservice gained around 2.0% and 0.6%, respectively. The advance-decline ratio was in favor of advancers Out of 2,263 stocks traded, 1,066 stocks advanced, 861 stocks declined, and the remaining closed flat.

The distribution day count is currently elevated to four. If the index falls further, adds a couple of distribution days, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. We continue to recommend a selective approach to increasing risk. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News

Bajaj Healthcare Ltd received license from DRDO to manufacture and market '2-Deoxy-D-Glucose' (2-DG), used in control and treatment of COVID-19.

Railtel Corporation Of India received an order worth Rs 23.4 crore from Sagar Cable Networks to provide multicast drop and carry with 1.5G capacity at 66 locations for a period of five years.

REC raised $400M by issuing bonds, the proceeds of which will be used to lend to the power sector.

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SGX Nifty Indicates Muted Opening; TCS and Shyam Metalics to Report Results Today

Stock Market Research

William O’Neil India

#SGX Nifty Indicates Muted Opening; TCS and Shyam Metalics to Report Results Today

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herkoalaperson · 3 years

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At 8:15 am IST, SGX Nifty Futures was trading at 15,826, compared with Nifty’s close of 15,749 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Four

Global stock markets: Dow30, +0.03%; S&P 500, +0.03%; Nasdaq, +0.2%; Kospi, +0.4%; Nikkei, -0.1%; Shanghai Composite, +0.1%

Yesterday, Nifty opened flat and turned negative in the opening hour itself. It traded in a very narrow range and found support near its 21-DMA. Yesterday’s action was considered a distribution day as the volume was higher compared with the previous session.

Overall action in the broader market was also weak. But, there were pockets of strength (midcap IT and power stocks), which made fresh highs. On the sectoral front, Nifty FMCG and Pharma each closed around 50bps higher. On the flip side, Nifty Bank, Metal, and Auto closed 0.9–1.2% lower.

The distribution day count is currently elevated to four. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Results Today: Sequent Scientific, Spicejet, Vodafone Idea, among others

Key News:

Housing And Urban Development Corporation posted Q4 FY21 results. It reported a PAT of Rs 526.3 crore compared with a profit of Rs 440.9 crore for Q4 FY20. Revenue was down to Rs 1,759.4 crore from Rs 1,888.5 crore in Q4 FY20.

Uflex (Nse) will invest Rs 120 crore to double its aseptic packaging capacity to 7B packs per annum by March 2022.

Shriram Epc posted Q4 FY21 results. It reported a loss of Rs 35.8 crore compared with a loss of Rs 91.1 crore for Q4 FY20. Revenue declined to Rs 177.5 crore from Rs 184 crore in Q4 FY20.

New High in RS line after 4-year decline

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#SGX Nifty Indicates Higher Opening; Vodafone Idea and Sequent Scientific to Report Results Today #Stock Market Research #William O’Neil India

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herkoalaperson · 3 years

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At 8:15 am IST, SGX Nifty Futures was trading at 15,850, compared with Nifty’s close of 15,815 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, -0.4%; S&P 500, +0.2%; Nasdaq, +1%; Kospi, -0.4%; Nikkei, -0.9%; Shanghai Composite, -0.6%

Yesterday, Nifty gapped up to open at a new all-time high. However, it failed to hold the opening gains and dropped more than 100 points from the high, closing 0.3% lower. Yesterday’s action was not considered a distribution day as the volume was lower compared to Friday’s session.

The broader market outperformed the benchmark indices. There was mixed action on the sectoral front. Nifty Metal, Pharma, and PSU Bank closed 1.2–2.5% higher. On the flip side, Nifty IT, Media, and Financial Services closed 0.3–0.7% lower.

Nifty is only a few points below its all-time high and has near-term support near its rising 21-DMA. We will continue to monitor the action for signs of health or crack in the market and leaders. The distribution day count currently stands at three. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Results Today: Subros, Bharat Rasayan, Fcs Software Solutions, among others

Key News:

Hdfc Life Insurance Co: Standard Life (Mauritius Holdings) announced it would sell 7 crore shares, which is about 3.46% of the company’s total shares, via block deals today.

Bajaj Healthcare Ltd moved the patent office to make the COVID-19 drug Baricitinib, blocked by Eli Lilly.

Graphite India (Nse) posted Q4 FY21 results. It reported PAT of Rs 64 crore compared to a loss of Rs 7 crore for Q4 FY20. Revenue declined to Rs 565 crore from Rs 602 crore in Q4 FY20.

Blue Dot List:

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#Standard Life to Sell 3.46% Stake in HDFC Life; Subros and Bharat Rasayan to Report Results Today #stock market research

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herkoalaperson · 3 years

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L&T Technology Services stock has cleared a 10-week, 19% deep Cup With Handle Base this week. Currently, the stock is trading around just 1% away from its ideal buy price of INR 2910. The stock is offering investors an opportunity to get on board at the current price.

The stock closed in green for the week, but the volume remained below average. It was up 4.7% on a -17% lower volume than the 10-week average. It will be interesting to see how the stock behaves in the coming week. You would want to see the price volume momentum to pick up in the coming trading sessions.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 8.1% away from the 10-week moving average.

In the last twelve months, L&T Technology Services has rallied nearly 125.8% as compared to 53.5% for the Nifty500. It has a Relative Strength Rating of 56. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If L&T Technology Services can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. L&T Technology Services has an Accumulation/Distribution Rating of 'A-'. This represents heavy institutional buying over the past 13 weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, L&T Technology Services has an EPS Rank of 61, which is okay but fails to impress a growth stock investor. The earnings and sales for the stock have grown by 5% and 12%, respectively over the past three years. Its 3-years earnings stability is 12, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 14% and 16%, respectively. The 5-years earnings stability is 14. The return on equity for the last reported year is 21%.

The stock belongs to the industry group of Computer-Tech Services. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 105 . The current price of L&T Technology Services is -6% off from its 52-week high price and 127% above its 52-week low price.

The stock appears on our idea lists: Minervini Trend Template.

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#Global Markets Trade Higher; Apollo Hospital and Allcargo Logistics to Report Results Today #Stock Market Research #William O’Neil India

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herkoalaperson · 3 years

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At 8:15 am IST, SGX Nifty Futures was trading at 15,864, compared with Nifty’s close of 15,747 yesterday.

Market Pulse:

Confirmed Uptrend

Distribution Day Count

: Three

Global stock markets: Dow30, +1.8%; S&P 500, +1.4%; Nasdaq, +0.8%; Kospi, +0.7%; Nikkei, +3%; Shanghai Composite, +0.8%

Yesterday, Nifty gapped lower by over 150 points. However, it gradually recovered from the low and turned positive in the second half. The broader market also staged an upside reversal after opening lower. On the sectoral front, Nifty Bank recovered more than 900 points from its low and closed 0.9% higher. Nifty PSU Bank (+4.1%) and Realty (+2.3%) were the top gainers. On the flip side, Nifty IT and Auto closed in the red.

The distribution day count currently stands at three. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Read our new article on World Test Championship and O'Neil Methodology: Game of Leaders

Results Today: Nmdc, Aster Dm Healthcare, Bharat Electronics, among others

Key News:

Kpit Technologies Limited signed a definitive agreement to acquire a controlling stake in PathPartner Technology.

Vst Tillers Tractors posted Q4 FY21 results. It reported PAT of Rs 12.93 crore as against a loss of Rs 3.38 crore for Q4 FY20. Revenue advanced to Rs 194.5 crore from Rs 119.8 crore in Q4 FY20.

Dish Tv India received the Board’s approval to raise funds up to Rs 1,000 crore through a rights issue

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#SGX Nifty has Higher Opening; NMDC and Bharat Electronics to Report Results Today #Stock Market Research

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herkoalaperson · 3 years

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At 8:15 am IST, SGX Nifty Futures was trading at 15,609, compared with Nifty’s Friday close of 15,683.

Market Pulse:

Confirmed Uptrend

Distribution Day Count

: Three

Global stock markets: Dow30, -1.6%; S&P 500, -1.3%; Nasdaq, -0.9%; Kospi, -1.1%; Nikkei, -3.7%; Shanghai Composite, +0.2%

Friday was a highly volatile session as Nifty traded in a range of over 300 points. After a positive start, the index quickly lost more than 300 points and breached its 21-DMA momentarily. It then recovered well from the lows to pare most of its intraday losses and reclaim its 21-DMA. Last week, barring Nifty FMCG (+1.8%) and IT (+0.8%), all sectoral indices closed lower. Nifty Metal(-6.6%) declined the most. Nifty Pharma, Auto, Energy, PSU Bank, and Realty declined 3–4%.

The distribution day count currently stands at three. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Read our new article on World Test Championship and O'Neil Methodology: Game of Leaders

Results Today: Info Edge (India) (Nse), Vst Tillers Tractors, Bharat Dynamics, among others

Key News:

Ntpc posted Q4 FY21 results. PAT grew 2.9x y/y to Rs 4,649 crore. Revenue declined to Rs 30,102.6 crore from Rs 30,391.5 crore in Q4 FY20.

Hinduja Global Solutions posted Q4 FY21 results. PAT grew 1.9x y/y to Rs 130.3 crore. Revenue advanced to Rs 1,563.6 crore from Rs 1,285.7 crore in Q4 FY20.

Icici Bank received reaffirmation of its BBB- rating from global rating agency S&P; the outlook has been changed from negative to stable.

List of stocks with potential high tight flag formation

Note: Top ten stocks selected as per Master Score

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#SGX Nifty Indicates Muted Opening; Info edge and VST Tillers Tractors To Report Results Today #Stock Market Research

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herkoalaperson · 3 years

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Emami stock has broken out of a 6-week, 13% deep Cup Without Handle Base 2-weeks ago. However, the stock is still worth watching as the current price is only 0% away from the ideal buy price of INR 547.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 5.6% away from the 10-week moving average.

In the last twelve months, Emami has rallied nearly 169.1% as compared to 55.3% for the Nifty500. It has a Relative Strength Rating of 61. We definitely would like to see an improvement in the rating. At this point, we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long-term trend of the line is also trending upward. If Emami can maintain this outperformance, it could make sense as a CANSLIM trade.

Emami stock has strong institutional support. The Accumulation/Distribution Rating of 'A' represents heavy institutional buying over the past few weeks. Although the shares held by institutions dropped in the last quarter, the number of institutions holding the stock increased at the same time. This shows increasing interest among the institutions.

On the earnings front, Emami has an excellent EPS Rank of 88, which indicates consistency in earnings. The earnings and sales for the stock have grown by 6% and 1%, respectively over the past three years. Its 3-years earnings stability is 15, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 1% and 3%, respectively. The 5-years earnings stability is 15. The return on equity for the last reported year is 25%.

The stock belongs to the industry group of Cosmetics/Personal Care. You would still want to see some improvement in the industry group rank for group. The current industry group rank is 140. The current price of Emami is -4% off from its 52-week high price and 187% above its 52-week low price.

The stock appears on our idealists: Trend Template - 5 Months.

#MSI Stock Of The Day: Emami Trading North Towerds Its 52-Week High #Stock Market Research

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herkoalaperson · 3 years

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Astral Ltd stock has broken out of a 9-week, 28% deep Consolidation Base 4-weeks ago. However, the stock is still offering investors an opportunity to get on board as the current price is only 0% away from the ideal buy price of INR 1973. The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 11.2 % away from the 10-week moving average. In the last twelve months, Astral Ltd has rallied nearly 188.5% as compared to 55.3% for the Nifty500. It has a Relative Strength Rating of 76. We definitely would like to see an improvement in the rating. At this point, we are taking a step back and focusing on the RS Line. The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last few weeks. The overall long-term trend of the line is also trending upward. If Astral Ltd can maintain this outperformance, it could make sense as a CANSLIM trade. Another key part of the jigsaw is institutional sponsorship. Astral Ltd has an Accumulation/Distribution Rating of 'A-'. This represents heavy institutional buying over the past few weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter. On the earnings front, Astral Ltd has an excellent EPS Rank of 98, which indicates consistency in earnings. The earnings and sales for the stock have grown by 21% and 9%, respectively over the past three years. Its 3-years earnings stability is 12, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 23% and 12%, respectively. The 5-years earnings stability is 11. The return on equity for the last reported year is 24%. The stock belongs to the industry group of Bldg-Constr Prds/Misc, which is exhibiting a fair amount of strength in the current market environment. The current industry group rank is 56. The current price of Astral Ltd is -3% off from its 52-week high price and 205% above its 52-week low price. The stock appears on our idealists: Growth 50, Minervini Trend Template.

#Is This A Good Time To Buy Astral? Stock Market Research #Is This A Good Time To Buy Astral?

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herkoalaperson · 3 years

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At 8:15 am IST, SGX Nifty Futures was trading at 15,740, compared with Nifty’s close of 15,691 yesterday.

Market Pulse:

Confirmed Uptrend

Distribution Day Count:

Three

Global stock markets:

Dow30, -0.6%; S&P 500, -0.1%; Nasdaq, +0.8%; Kospi, +0.2%; Nikkei, +0.3%; Shanghai Composite, -0.3%

Yesterday, Nifty gapped down over 100 points. Within the first hour, it pared all of its losses and turned positive for a brief moment. But, due to weekly expiry, the session was highly volatile. From the day’s high, it lost about 150 points and made an intraday low of 15,616. In the last hour, there was a little recovery, which helped Nifty end near 15,700. It was a broad-based sell-off as broader market indices Nifty Midcap (-1.2%) and Smallcap (-0.5%) underperformed. On the sectoral front, barring

Nifty FMCG

(+0.1%) and

IT

(+0.6%), all sectoral indices closed lower.

Nifty Metal

(-2.3%) and

Realty

(-1.7%) declined the most followed by financial-related indices, which closed 1.1–1.5% lower. FIIs were net sellers at Rs 879 crore, while DIIs were net buyers at Rs 45 crore.

Yesterday’s action qualified as a

distribution day

as Nifty fell over 0.2% on volume higher than the previous session. It was the second consecutive session where Nifty added a distribution day, which signals weakness in the market. If the index falls, adds a distribution day, and breaches its key moving averages, we may change the market status to an

Uptrend Under Pressure.

Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Read our new article on

World Test Championship and O'Neil Methodology: Game of Leaders

Key News:

Power Grid Corp Of India

’s Q4 FY21 PAT grew 7% y/y to Rs 3,526 crore. Revenue grew to Rs 10,816.33 crore from Rs 10,507 crore in Q4 FY20. The board has recommended issue of bonus shares in the ratio of 3:1.

Nacto Pharma

’s Q4 FY21 results missed estimates on all fronts. PAT grew 43% y/y to Rs 53 crore. Revenue stood at Rs 360 crore compared to Rs 477 crore in Q4 FY20.

-The Dollar index is trading higher after the Fed brought forward its projections for rate hike in 2023. It is now around 92, compared to less than 90 at the start of the month.

US DOLLAR INDEX

Source:

panaray.com

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#SGX Nifty Indicates Positive Opening; Dollar Index Trades Higher #Stock Market Research

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herkoalaperson · 3 years

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At 8:00 am IST, SGX Nifty Futures was trading at 15,843, compared with Nifty’s close of 15,869 yesterday.

Market Pulse:

Confirmed Uptrend

Distribution Day Count:

Two

Global stock markets:

Dow30, -0.3%; S&P 500, -0.2%; Nasdaq, -0.7%; Kospi, +0.6%; Nikkei, -0.3%; Shanghai Composite, -0.3%

Yesterday, Nifty opened gap up and traded sideways in a narrow range throughout the session. It made a new all-time high of 15,901.6. Volume was on the lower side. On the sectoral front, barring Nifty Metal (-0.1%) and Pharma (-0.9%), all other major indices closed higher. Nifty Bank, FMCG, IT, and Realty closed 0.2–1.0% higher.

Asian Paints

,

Axis Bank

, and HDFC Life were the top Nifty50 gainers. Nifty is trading 2.5% and 5.7% above its 21- and 50-DMA. FIIs were net buyers at Rs 634 crore while DIIs were net sellers at Rs 650 crore.

Nifty trading at its all-time high, low distribution day count, and broader market outperformance are positive signs and indicate further upside. One

distribution day

is set to expire today. However, if the index falls, adds distribution days, and breaches its key moving averages, we may change the market status to an

Uptrend Under Pressure

. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key News:

For May, the trade deficit was at $6.28B compared to $3.15B y/y and $15.1B in April. In May, engineering goods exports were at $8.65B compared to $7.96B in April.

Lic Housing Finance

’s Q4 FY21 PAT was down 5% y/y to Rs 398.92 crore. It was lower mainly due to higher provisioning for bad loans. The company will raise funds via preferential issue to promoters. LIC’s stake will increase to 45.24% post fund infusion.

Jet fuel price increased by Rs 1,790/KL to Rs 65,908/KL.

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SGX Nifty Indicates Muted Opening; LIC Housing Finance to Raise Funds from LIC

Stock Market Research

William O’Neil India

#Stock Market Research

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herkoalaperson · 3 years

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Knr Constructions stock is worth watching as the stock is forming an 18-week, 22% deep Cup With Handle Base. The current price is only 6% away from its ideal buy price of INR 239. Aggressive investors could use any tight area breakout inside the base as an opportunity to initiate a small position. A conservative approach may be to add the stock to your watchlist so that you are ready to pounce if it breaks out to the traditional entry point.

The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 6.1% away from the 10-week moving average.

In the last twelve months, Knr Constructions has rallied nearly 101.8% as compared to 55.7% for the Nifty500. It has a Relative Strength Rating of 58. We definitely would like to see an improvement in the rating. At this point, we are taking a step back and focusing on the RS Line.

The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long-term trend of the line is also trending upward. If Knr Constructions can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. KNR Constructions has an Accumulation/Distribution Rating of 'B'. This represents heavy institutional buying over the past few weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, Knr Constructions has an excellent EPS Rank of 94, which indicates consistency in earnings. The earnings and sales for the stock have grown by 18% and 11%, respectively over the past three years. Its 3-years earnings stability is 10, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 51% and 16%, respectively. The 5-years earnings stability is 43. The return on equity for the last reported year is 23%.

The stock belongs to the industry group of Bldg-Heavy Construction. You would still want to see some improvement in the industry group rank group. The current industry group rank is 88. The current price of Knr Constructions is -7% off from its 52-week high price and 123% above its 52-week low price.

The stock appears on our idealists: Minervini Trend Template.