Tag: pre market report

News Shots

HDFC Bank along with its subsidiary HDFC Securities will pick up stake worth Rs 6.9 crore in backend software infrastructure development company Borderless Softtech.

HDFC Bank to hire 500 people over two years in two entities the lender is setting up to strengthen its technology infrastructure. The “Digital Factory” arm will build new businesses based on upcoming tech stacks or applications, while the “Enterprise Factory” will upgrade legacy infrastructure.

Hindustan Unilever has added 30 per cent more capacity in its supply chain, making it more flexible and agile, while adding alternate sources in order to meet the challenges in case of a third wave of COVID-19.

Hero MotoCorp will hike its vehicle prices by up to Rs 3,000 from July to partially offset the impact of the higher commodity prices.

Adani Ports and Special Economic Zone has been excluded from investment by Norway’s largest pension fund, KLP and the KLP Funds with effect from June 2021.

Wipro Lighting announced to partner Enlighted, a Siemens group firm, to provide an internet of things (IoT)-based solution for commercial buildings and make workplaces smarter.

The auto components maker Minda Industries will acquire 51 per cent stake in Uzbekistan-based automotive lighting manufacturer UZ Chasys for around Rs 58 crore.

Century Plyboards (India)’s wholly-owned subsidiary, Century Panels, has considered a proposal for setting up a new unit in Andhra Pradesh for manufacturing of Medium Density Fiber boards. The new MDF unit will cost the company approximately Rs 500 crore.

The realty firm Sobha reported a 65 per cent decline in its consolidated net profit at Rs 17.9 crore for the quarter ended March.

The state-owned metal firm NMDC posted a manifold jump in its net profit to Rs 2,838 crore for the quarter ended March 31, 2021.

Some major Q4 result announcements today:

• Apollo Hospitals
• Allcargo Logistics
• Schneider Electric Infrastructure
• Hindustan Construction Company
• Andrew Yule & Company
• Sharda Motor Industries
• Munjal Showa 

What to expect today?

Yesterday, NIFTY opened with a near 100 point gap-up at around 15,830 and moved up to take resistance at 15,900. Then NIFTY moved down steadily throughout the day to close above 15,750. You can read all about yesterday’s movements here.

BANK NIFTY also opened with a gap up and shot up briefly before starting to move down. The strong support at 35,000 was broken and the index closed at 34,745.

NIFTY AUTO performed the best among sectors as Maruti Suzuki shot up 5%.

The European markets all closed in the green. The US markets also moved up, closing strongly in the green. NASDAQ hit an all time high and S&P 500 just reached all time high.

The US markets moved up as the Federal Reserve Chair Jerome Powell reaffirmed to encourage a “broad and inclusive” recovery of the job market, and not to raise interest rates too quickly based only on the fear of coming inflation.

Almost all Asian markets are in the green. US and European futures are also up currently.

SGX NIFTY is trading higher at 15,840 indicating a gap up opening in the Indian market.

The immediate supports for NIFTY are at 15,750 and 15,650. The index is seeing some good buying when it is moving down.

Meanwhile, 15,840 and 15,900 will act as strong resistances.

35,000, 35,115 and 35,300 and are the important resistances to be watched out for in BANK NIFTY. 

BANK NIFTY has good support at 34,650 and 33,900 to 34,000 zone.

The highest call OI buildup is at 16,000 followed by 15,900. The highest put OI buildup is at 15,500 followed by 15,600. 

BANK NIFTY continues to have the highest call OI at 35,000, which will act as a huge resistance. 

Foreign institutional investors (FIIs) net sold worth Rs 1,027 crores, and domestic institutional investors (DIIs) net bought shares worth Rs 302 crores in the Indian equity market. Very interesting to see how DIIs are still buying near the market top.

The market has been making large moves for multiple days now – 500 points on Friday (300 points down and 200 points up), 250 points on Monday and 150 points yesterday. Many are expecting consolidation soon but hey, today is Wednesday and Wednesdays are infamous for being volatile, and that too with monthly expiry tomorrow.

Talking about resistances, BANK NIFTY has 35,000 and NIFTY has 15,850-15,900, which are the levels to watch out for next.

Stock specifically, RELIANCE can be watched ahead of its AGM tomorrow. HDFC BANK seems to have announced some positive news. Let’s watch it around the important resistance of 1500.

If NIFTY is moving up, 15,900 will be tested for the third time, and thus, might be successful.

The market has been all over the place in the last many days (look at the chart since last week) making trading very difficult. A lot of put sellers lost money yesterday. A lot of call sellers might lose today (who sold 15,800 call aggressively yesterday). I would suggest to stay safe in such uncertain times.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!

News Shots

State Bank of India’s board has approved raising capital up to an amount of Rs 14,000 crore.

VST Tillers Tractors reported Q4 profit at Rs 12.93 crore against a loss of Rs 3.38 crore last year. Revenue jumped 20% YoY to Rs 194.74 crore.

Dish TV has approved the raising of funds up to Rs 1,000 crore through a rights issue. The rights issue will be priced at Rs 10 per share, a discount of 50% to current market price.

LIC sold a 2.02% stake in SAIL via open market, reducing shareholding to 8.69% from 10.71%.

KPIT Technologies has signed an agreement to acquire controlling stake in PathPartner Technology.

Sun Pharma has announced the settlement of patent litigation for cancer drug Revlimid with Celgene Corp.

Bharti Airtel and Tata Group have announced a strategic partnership for implementing 5G network solutions for India. TCS and Bharti Airtel will work together to push the technology.

Adani Transmission will seek shareholders approval to raise up to Rs 2,500 crore through issuing equity shares, debentures etc.

Jaiprakash Associates reported a fall of 86.2% YoY in its consolidated net profit to Rs 424.41 crore for Q4. 

IIFL Finance’s home finance arm is planning to raise up to Rs 5,000 crore, to boost the lending business. Fundraise will be through public issue of non-convertible debentures.

Delta Corp’s casinos in Goa and Sikkim will remain closed till June 28 as lockdowns have been extended in the states.

Some major Q4 result announcements today:

• ASTERDM
• BEL
• GEPIL
• ITI
• MAXINDIA
• NMDC
• RELIGARE
• SOBHA

What to expect today?

Yesterday, NIFTY opened with a 150 point gap-down and shot up. It went up nearly 250 points from day-low, just like Friday’s recovery and closed at 15,746. You can read all about Friday’s movements here.

BANK NIFTY also opened with a gap-down and shot up nearly 1,000 points from low to high. The index crossed Friday’s high and closed at 34,871.

PSU Banks moved up 4% after privatisation news in the industry. The Realty index also gained more than 2%. HDFC Bank and Reliance closed with good strength.

The European markets all closed in the green. The US markets are up nearly 1.5%, with strong green candles right from their market opening.

Markets around the world seem to have calmed down since falling heavily last week after the Fed announcement. Interestingly, not just India, all global markets which were moving very calmly for many weeks are now very volatile.

Most of the Asian markets are in the green, reversing from yesterday. Japan’s NIKKEI, which was down 3% yesterday, is up by 3% today. 

SGX NIFTY is trading higher at 15,800 indicating a gap up opening in the Indian market.

The immediate supports for NIFTY are at 15,750 and 15,650. The index is seeing some good buying when it hits the 15,500-15,600 zone.

Meanwhile, 15,830 and 15,900 will act as strong resistances.

Expecting Nifty to be a tough fight between bulls and bears with no one winning. Even with the gap-up, we might see some red candles at first. Of course, I will be watching the 15,830 zone which can be a good resistance and 15,690 for a small bearish indication. 

35,000, 35,115 and 35,300 and are the important resistances to be watched out for in BANK NIFTY. 

BANK NIFTY has good support at 34,650 and 33-950 to 34,000 zone. 

The highest call OI buildup is at 16,000 followed by 15,800. The highest put OI buildup is at 15,000 followed by 15,500.

Foreign institutional investors (FIIs) net sold worth Rs 1,244.71 crores, and domestic institutional investors (DIIs) net bought shares worth Rs 138.09 crores in the Indian equity market. Very interesting to see how DIIs are still buying near the market top.

Nifty has crossed a short term bearish trendline and has closed with power. IT stocks are seeing some pressure near the top, with TCS, Infy, TechM and more closing in the red. High crude oil prices(Now at $75/barrel) might push up dollar even more which could give a boost to these stocks in the short-term, but they seem to have lost bullishness according to charts.

There is clearly bullishness in the market, but the 15,750-15800 zone is a tight consolidation space that might hold down Nifty. Volatility has returned to the market from last week even with India VIX still at just 15. Expecting this week also to be volatile.

Reliance and its group stocks need to be watched ahead of the AGM. HDFC Bank also closed bullish and I will be watching the 1,500 zone for the stock and 2,530 for HDFC. All are heavyweights for Nifty.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!

News Shots

HDFC Bank to buy 4.99% stake in HDFC Ergo from Housing Development Finance Corporation for Rs 1,906.43 crore.

S&P has reaffirmed ICICI Bank’s rating at BBB- and has changed the outlook from negative to stable.

SEBI has put PNB Housing Finance‘s preferential issue on hold.

Reliance added the most active users among peers in March as it snapped two straight months of decline. Jio added 7.3 million regularly paying subscribers, Bharti Airtel Ltd added 4.8 million subscribers and Vodafone Idea Ltd lost 0.4 million subscribers.

Phillips Carbon Black commissioned an 8 MW power plant at Mundra in Gujarat.

The Committee of Creditors of Essar Power MP Ltd, has approved the resolution plan submitted by Adani Power. EPMPL owns a 1,200 MW power plant in Singrauli District, Madhya Pradesh.

NBCC (India) has awarded the work order for construction of residential towers and civic amenities at Karkardooma in New Delhi on TOD Norms, EPC mode to NCC Ltd at their quoted price of Rs 859.84 crore.

Reserve Bank of India has granted in-principle approval to Centrum Financial Services to set up a small finance bank.

Some major Q4 result announcements today:

• Oil India
• Bharat Dynamics
• Info Edge (India)
• HBL Power Systems
• Jaiprakash Associates
• MM Forgings
• Pearl Global Industries
• Pokarna
• Rico Auto Industries
• SP Apparels
• TCNS Clothing Co
• VST Tillers Tractors

What to expect today?

Friday, NIFTY fell 300 points from 15,750 to 15,450, reacting to the global markets and then displayed an unbelievable rally to close just below 15,700. You can read all about Friday’s movements here.

BANK NIFTY followed a similar pattern, first crashing down, taking beautiful support at ever important 33,900 and then moving up sharply and closing above 34,500.

NIFTY IT continues the strength, as the dollar keeps gaining value. Metals continued the fall after China announced new measures to keep commodity prices in check earlier this week. HDFC BANK was especially strong on Friday.

The European markets mostly closed 1-2% down. The US markets are down 1-1.5%.

The global markets crashed after comments from Federal Reserve official James Bullard that the U.S. central bank might raise interest rates sooner than previously expected spooked investors.

Most of the Asian markets are down by more than 1%. Japan’s NIKKEI is down by more than 3%. US and European futures are also further down!

SGX NIFTY is trading much lower at 15,540 indicating a gap down opening in the Indian market.

As we discussed last day, a major gap down opening can be followed with continuous up move when the market opens. It worked exactly like that last Thursday as well.

Today, there is weakness all around. Look into the candles and price action after the market opens. Be sure to understand the trend.

Market can be super volatile. Do not forget Friday’s violent moves towards both sides which is an actual nightmare for traders, hitting stop losses of both bulls and bears.

The immediate support for NIFTY are at 15,500 and 15,450. If 15,450-15,430 is broken, there will be more weakness in NIFTY.

Meanwhile, 15,600 and 15,700 will act as strong resistances.

34,700 and 35,000 are the important resistances to be watched out for in BANK NIFTY. 

BANK NIFTY has good support at 33,900 to 34,000. We should be cautious if that is broken.

The highest call OI buildup is at 16,000 followed by 15,800. The highest put OI buildup is at 15,000 followed by 15,500. The 15,500 put sellers can be in trouble today.

Foreign institutional investors (FIIs) net bought worth Rs 2680 crores, and domestic institutional investors (DIIs) net bought shares worth Rs 446 crores in the Indian equity market.

Global crash, monthly expiry and Reliance AGM – we are in for a roller coaster kind of a week, starting today.

As a conservative trader, I would prefer to stay safe than capitalise on the sudden trends. I am already sitting on good booked profits this month and I don’t want to spoil that.

The plan is to get a clear trend and direction and then place trades. The supports of 15,450 in NIFTY and 33,900 in BANK NIFTY will be what I’ll be watching.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!

News Shots

SBI Cards may see a sell-off with US private equity fund Carlyle looking to sell a 5.1% stake in SBI Cards and Payment Services worth ~Rs 5,000 crore through a block deal on Friday. The share was already 2.5% down yesterday.

Religare Enterprises is considering an IPO worth Rs 2,000 crore for its health insurance subsidiary Care Health Insurance.

Coal India May soon increase coal prices.

Power Grid posted 6% YoY increase in its consolidated net profit to Rs 3,526.23 crore for Q4. The company’s board has also recommended a 1:3 bonus issue and approved dividend of Rs 3/share.

Murugappa Group’s Tube Investments of India has reported standalone net profit at Rs 129.12 crore for Q4, up 78% YoY. But the net profit for the last financial year is 20% lower than that of FY20.

Hindustan Petroleum has become the first oil firm to start supplies of ethanol-blended petrol in Jammu & Kashmir and Ladakh region.

The Swiss pharma company’s India subsidiary, Novartis India reported a 43% YoY increase in net profit at Rs 9.7 crore for Q4.

Nava Bharat Ventures reported consolidated revenue up 4% QoQ at Rs 688.66 crore and a 1% dip in net profit to Rs 159.4 crore.

J&K Bank announced net profit of Rs 316 crores for Q4 compared to Rs 293 crore loss last year, highest ever since 2014. Asset quality is slightly worse compared to last quarter, and Net Interest Income is down 7% YoY to Rs 917 crores.

Adani Transmission has incorporated a wholly-owned subsidiary called ATL HVDC for transmission, distribution and supply of power and other infrastructure services.

Datamatics Global Services is set to complete the acquisition of 49.50% stake in Cybercom Datamatics Information Solutions by September 30.

JSW Steel’s promoter Sahyog Holdings created a pledge of 1.07 crore shares on June 12.

Some major Q4 result announcements today:

• Insecticides (India)
• Gujarat Fluorochemicals
• Balaji Telefilms
• Dhani Services
• Hinduja Global Solutions
• Oriental Carbon & Chemicals
• PSP Projects
• Shree Renuka Sugars
• Timken India

What to expect today?

Yesterday, NIFTY opened around 15,650 after the Fed announcement. It moved up after the gap-down, and then crashed taking support at 15,600. Closing was at 15,680. You can read all about yesterday’s movements here.

BANK NIFTY followed a similar pattern, first moving up then crashing down. The index took support at a very important level of 34,450 yesterday.

NIFTY IT moved up with power from Infy and TCS. Metals continued the fall after China announced new measures to keep commodity prices in check earlier this week. For such information, do follow our Top International News article every night.

The European markets mostly closed flat. In the U.S., general market fell and the tech-driven NASDAQ went up. This usually happens when investors focus on growth stocks with fear of higher inflations.

The Asian markets are also mostly flat, after yesterday’s fall. SGX NIFTY is currently trading a bit higher at 15,750 indicating a gap up opening in the Indian market.

The immediate support for NIFTY are at 15,620, 15,570 and 15,500. Meanwhile, 15,800 and 15,900 will act as strong resistances.

34,700, 35,000 and 35,500 are the important resistances to be watched out for in BANK NIFTY. The index has good support at 34,450, 34,130 and 34,000.

The highest call OI buildup is at 16,500 followed by 15,800. The highest put OI buildup is at 15,000 followed by 15,500. It is the monthly expiry coming up with just 5 more trading sessions. A more clear image will start forming after today’s market closes.

Foreign institutional investors (FIIs) net sold worth Rs 879.73 crores, and domestic institutional investors (DIIs) net bought shares worth Rs 45.24 crores in the Indian equity market.

A small green move is expected in the market today, after a bearish day yesterday. We will have to see if this movement(also the gap-up) is sustained to get an indication for next week. 

With crude oil prices going up, the rupee is getting weak. This is good for exporting sectors like IT and Pharma. Watching if the rally in IT stocks can be sustained and if Pharma can move into the green.

Bank Nifty is at a key support of 34,500. The last time it closed under this level, Bank Nifty crashed to 30,500. Let us hope we don’t see that this time, and that Bank Nifty takes support here.

It’s the last day of the week, so let us play it safe. Personally, I will be watching the market today to get an idea for next week’s trend and mostly won’t be entering any new positions. 

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!