Tag: Aarti Industries

Categories
Daily Market Feed Post Market Analysis

Diwali Rally in Nifty? – Post-Market Analysis

NIFTY started the day at 19,345 with a gap-up of 115 points (near the 50% Fibonacci rejection levels). After facing initial resistance at 19,380 levels, the index fell to 19,310. The earlier resistance acted as support. Then, Nifty gradually continued the up-move to 19,420 levels. Nifty closed at 19,411, up by 181 points or 0.94%.

Nifty chart November 6 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 43,627 with a big gap-up of 310 points. There was an immediate sell-off to 43,400 levels. But the earlier resistance now acted as support, and the index moved up till the opening levels. BNF closed at 43,619, up by 301 points or 0.7%.

Bank Nifty chart November 6 - post-market analysis | marketfeed

All indices except Nifty PSU Bank (-1.09%) closed in the green. Nifty Metal (+1.36%), Nifty Pharma (+1.28%), and Nifty Realty (+1.2%) moved up the most.

Major Asian markets closed well in the green (Japan’s Nikkei rose nearly 2.3%). European markets are currently trading mixed.

Today’s Moves

Divi’s Labs (+4.6%) was NIFTY50’s top gainer despite reporting a 29% YoY fall in net profit to ₹348 crore in Q2.

Shares of Aarti Industries (+10.7%) surged as investors cheered the management’s positive commentary and improved sequential performance in Q2.

JK Cements (+8.6%) moved up with strength after the cement manufacturer posted robust Q2 results yesterday.

SBI (-0.66%) was NIFTY50’s top loser. 

Krsnaa Diagnostics (-6.04%) fell sharply after the diagnostic company’s net profit declined 32% YoY to ₹10.5 crore in Q2 due to higher operational expenses.

Markets Ahead

The Indian stock market has been showing a consistent pattern lately. It opened with a gap-up and either continued to rise or remained steady for the last three trading sessions. The markets have now closed above significant Fibonacci levels – 50% at 19,300 in Nifty and 43,400 in Bank Nifty.

This suggests a potential shift in the market trend to bullishness. However, there’s a concern regarding the increase in India VIX, which has risen by 2% despite the upward movement. So, it’s important to be cautious in case the market experiences a downturn tomorrow.

Nifty: A breakout from 19,420 may take the index up to 19,500, which will be the next major resistance to watch out. Meanwhile, the immediate support for Nifty is near 19,360 levels. A breakdown from there could take Nifty down to 19,300 and 19,240 levels.

Bank Nifty: The major resistance for BNF is near 43,700 levels. A breakout from there might take the index up to 43,900 and 44,000 levels. On the other hand, the immediate support for the index is near the 43,500 round levels. A breakdown from there may take the index down to 43,300 and 43,000.

Key resistance levels are being breached mainly due to the gap-ups, and we haven’t seen much intraday price action to reach our targets. As long as the market remains above these resistance levels, it may be a good strategy to buy on dips. However, if an unexpected gap-down occurs in the coming days, you may consider selling when the market rises.

What levels are you watching out for FIN NIFTY expiry tomorrow? Let us know in the comments section below!

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Pre Market Report

U.S. Market Recovers. NIFTY to Open Strong – Pre-Market Analysis Report

The U.S. market fell yesterday as a reaction to Moody’s rating agency downgrading the outlook on 10 banks in the country.

Here are some of the major updates that could move the markets today:

Stocks

Coal India reported a fall in consolidated profit of 10.1% on-year to Rs 7,941.4 crore, but still beating street estimates.

Oil India reported a standalone profit of Rs 1,613.4 crore, down 9.78% YoY.

Prestige Estates reported consolidated profit at Rs 267 crore, up 30.3% YoY despite lower revenue.

Aarti Industries reported a 48.5% YoY fall in consolidated profit at Rs 70 crore, as revenues also fell.

Major results today: Tata Power, ZEEL, Trent, Sula Vineyards, IRCTC, Kalyan, Berger Paints.

What to Expect Today?

NIFTY started the day at 19,630, with a small gap-up. But a quick fall was seen. Support was taken at yesterday’s low and a small bounce was seen. NIFTY closed the day at 19,570, down by 26 points or 0.13%. 

BANK NIFTY started the day at 44,926 and had another day of consolidation. It tried to break out in the morning but took resistance at Friday’s high. BANK NIFTY closed the day at 44,964, up by 127 points or 0.28%. 

The U.S. markets closed in the red but recovered heavily from day-lows. The European markets closed in the red.

The Asian markets are trading mixed.

The U.S. Futures are trading flat.

GIFT NIFTY is trading in the green at 19,601.

All the factors combined indicate a flat to gap-down opening in the market.

NIFTY has supports at 19,566, 19,530 and 19,438. We can expect resistances at 19,617, 19,658, and 19,720. PCR is at 0.82.

BANK NIFTY has supports at 44,794, 44,600, 44,277 and 44,000. Resistances are at 45,229, 45,472, and 45,635. PCR is at 0.84.

NIFTY has the highest call OI build-up at 19,600. The highest put OI build-up is at 19,500. PCR is at 0.82.

BANK NIFTY has the highest call OI build-up at 45,000. The highest put OI build-up is also at 45,000. Interesting to see the high straddle buildup at this level. PCR is at 0.84.

Foreign Institutional Investors net-sold shares worth Rs -711 crores. Domestic Institutional Investors net-bought worth Rs 537 crores.

INDIA VIX jumped 2% up to 11.32.

U.S. markets had an amazing recovery through the day, even though they still closed in the red. It went from 1.3% in the red to just 0.45% in red.

NIFTY technicals indicate consolidation with a bearish bias. There are once again heavy call sellers in the market.

The 45,000 strike is turning into a straddle for Bank Nifty with a high pu selling yesterday. This means that an up move in Bank Nifty will NOT immediately trigger short-covering moves, it would take some time.

China’s inflation is down 0.3% YoY with disappointing trade data. Global markets look unreactive to the news.

Just two more trading sessions to expiry and surely it will be a dhamaka. Tomorrow, we have both RBI policy meeting and U.S. inflation data coming out.

I expect markets to trade inside our ranges for today like FinNifty yesterday. Do keep in mind the supports and resistances marked above for further levels in case of big moves.

Follow along with Smart Money (NIFTY) and Piggy Bank (BANK NIFTY) trades. Follow along on the marketfeed app, or on our website for trades!

Make sure that you tune in to The Stock Market Show at 7 PM on our YouTube channel. All the best for the day!

Categories
Market News Top 10 News

Taliban Disrupts India-Afghanistan Trade – Top Indian Market News

Taliban Halts India-Afghanistan Trade

Federation of Indian Export Organisation (FIEO) has said that the Taliban has disrupted its import-export with India. Afghanistan’s trade with India takes place through a transit route in Pakistan. Since the Taliban has stopped the movement of cargo across Pakistan, it means that trade with India also stands disrupted. According to FIEO, India can see a rise in the prices of dry fruits since it imports close to 85% of them from Afghanistan. 

Read more here.

India Ratings cuts FY22 GDP forecast to 9.4% from 9.6%

India Ratings has cut its FY22 GDP  growth estimate for India to 9.4 percent from 9.6 percent. “While COVID 1.0 was mainly in urban areas, COVID 2.0 spread to rural areas as well. Going by the pace of vaccination, it is now almost certain that India will not be able to vaccinate its entire adult population by 31 December 2021. With the ebbing of COVID 2.0, several high-frequency indicators are showing a faster rebound than expected. Kharif sowing is indicating a significant pick-up with the revival of southwest monsoon.” said the report by India Ratings.

Read more here.

Aarti Industries approves demerger with Aarti Pharma Labs.

Listed-company Aarti Industries has approved a demerger of Aarti Industries from Aarti Pharmalabs, said a stock exchange filing. The company has announced that each shareholder is likely to get 1 share of Aarti Pharmalabs for every four shares of Aarti Industries they own. 

Read more here.

RBI issues new guidelines for bank lockers

The Reserve Bank of India has announced a fresh set of guidelines for bank lockers, safe custody, and article facilities. The rule laid down by the central bank shall come into effect from January 1, 2022. You can check out the official notification by the RBI over here.

Read more here.

Emcure Pharmaceuticals files for IPO

Emcure Pharmaceuticals, a Pune-based pharmaceutical company has filed its Draft Red Herring Prospectus(DHRP) with SEBI for its IPO. The company is expected to raise Rs 4500 crore through its IPO, issuing fresh equity shares worth Rs 1100 crores and an Offer For Sale(OFS) of 18,168,356 equity shares. According to a CRISIL report, Emcure is the 12th largest pharmaceutical company in India and is the leader in gynecology, blood-related, and HIV antivirals therapeutic areas, based on sales in India in the FY2021.

Read more here.

UAE Bars Indigo Flights for Flying Passenger Without RT-PCR

United Arab Emirates has banned all Indigo flights arriving from India till August 24, 2021. since the company has floated the mandatory RT-PCR test required at the departure airport. According to UAE norms, passengers arriving from India are required to take an RTPCR 6 hours prior to departure. 

Read more here.

Tata Steel announces Rs 270 crore annual bonus For Employees

Tata Steel will pay a total of Rs 270.28 crore in annual bonuses to its eligible employees for the Accounting Year 2020-21. Tata Steel has signed a Memorandum of Settlement yesterday with the Tata Workers’ Union for the payment of its annual bonuses.

Read more here.

Vodafone-Idea Says It Has Fully Paid License Fees Dues For The Quarter Amidst Stir

Vodafone-Idea has confirmed that it has fully paid license fees dues for the quarter. A TOI report on Wednesday stated that the struggling telecom carrier had failed to clear its pending license fees worth Rs 150 crore for the April-June quarter. 

Read more here.