Tag: 50-DMA

At 8:00 am IST, SGX Nifty Futures was trading at 15,617, compared with Nifty’s close of 15,575 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, +0.1; S&P 500, -0.1%; Nasdaq, -0.1%; Kospi, +0.1%; Nikkei, +0.5%; Shanghai Composite, -0.4%

After gapping up on open yesterday, Nifty hit the day’s high of 15,661 in the first hour of the session. In the next two hours, it pared opening gains and traded closer to the day’s low of 15,528. The index remained volatile in the second half and closed flat. Yesterday, volume was on the lower side. Broader market indices continued to underperform the major index. Midcap was down 0.10%, while Smallcap closed 0.70% lower. On the sectoral front, the majority of indices closed in the red. Nifty Pvt Bank (-0.9%) and Metal (-0.8%) were the top decliners. On the flip side, Nifty IT (+0.1%) and Nifty Pharma (+0.04%) managed to close in the green.

Last week, Nifty hit an all-time high and is currently trading 3.8% and 5.3% above its 21- and 50-DMA, respectively. We would like the index to hold its 21-DMA and/or 50-DMA and trade above that. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. 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.

Key Results Today: Muthoot Finance , Pvr , Ratnamani Metals & Tubes , and others.

Key News:

Itc  reported its Q4 FY21 results. Revenue was up 22.6% y/y to Rs 13,294.7 crore. PAT moderated 1.3% y/y to Rs 3,784.7 crore. EBITDA grew 7.4% y/y to Rs 4,473 crore. The company’s bottom line missed consensus.

Gujarat Gas reported its Q4 FY21 results. Revenue was up 28.2% y/y to Rs 3,489.3 crore.PAT witnessed double digit growth of 40.1% y/y to Rs 350.9 crore. EBITDA grew 29.9% y/y to Rs 554.2 crore.

Balrampur Chini Mls Nse reported its Q4 FY21 results. Revenue was down 41.4% y/y to Rs 1,019.4 crore. PAT moderated 2.5% y/y to Rs 235.5 crore.

Buy Watchlist:      Avanti feeds  , Bajaj Finance , Sbi Cards And Payment Services ,  Ion Exchange India, Page Industries ,   Action Construction Equ., State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-Palmolive India, Sharda Cropchem, Astral, I G Petrochemicals, Berger Paints India, Icici Bank, Ramkrishna Forgings, Gujarat State Petronet, Apollo Hosps.Enterprise,  and Apollo Tricoat Tubes

Sell Watchlist : Advanced Enzyme Techs

Recent articles :

Is Berger Paints A Long Term Leader A Good Buy Now ??

Break the Stereotype; Buy High, Sell Higher

At 8:00 am IST, SGX Nifty Futures was trading at 15,429, compared with Nifty’s Friday close of 15,436.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, +0.2; S&P 500, +0.1%; Nasdaq, +0.1%; Kospi, +0.1%; Nikkei, -0.8%; Shanghai Composite, -0.3%

Nifty opened around 100 points higher on Friday and traded in a relatively narrow range. It made a new all-time high of 15,469 in the trading session. Gains were predominantly due to the surge in index heavyweight Reliance Industries  (+6.0%). The broader market indices underperformed as Nifty Midcap (-0.04%) and Smallcap (-0.7%) closed in the red. The advance-decline ratio was in favor of decliners. Of the 2,040 stocks traded, 769 advanced, 1,206 declined, and the rest remained unchanged. On the sectoral front, mixed reactions were observed. Nifty PSU Bank (+0.7%) advanced the most followed by Nifty Financial Services and Nifty Metal which advanced 0.3% higher.

Last week, Nifty hit an all-time high and is currently trading 3.4% and 4.6% above its 21- and 50-DMA, respectively. We would like the index to hold its 21-DMA and/or 50-DMA and trade above that. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. 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.

Key Results Today: Aurobindo Pharma, Panama Petrochem, Narayana Hrudayalaya, Hnywell Atmtn Ida, and others.

Key News:

Divis Laboratories (Nse) reported its Q4 FY21 results. Revenue was up 28.7% y/y to Rs 1,788 crore. PAT surged 29.3% y/y to Rs 502 crore.EBITDA was up 61.2% y/y to Rs 716.3 crore.

Bank of Baroda reported its Q4 FY21 results. NII was up 4.5% y/y to Rs 7,107 crore. The bank reported a loss of Rs 1,047 crore as against a loss of Rs 506.6 crore for the same period last year.

Affle (India) reported its Q4 FY21 results. Revenue was up 76.9% y/y to Rs 142 crore. PAT advanced 283% y/y to Rs 58.6 crore. 

Buy Watchlist: Ion Exchange India, Page Industries ,   Action Construction Equ., State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-Palmolive India, Sharda Cropchem, Astral, I G Petrochemicals, Berger Paints India, Icici Bank, Ramkrishna Forgings, Gujarat State Petronet, Apollo Hosps.Enterprise,  and Apollo Tricoat Tubes

Recent articles:

Break the Stereotype; Buy High, Sell Higher

At 8:00 am IST, SGX Nifty Futures was trading at 15,342, compared with Nifty close of 15,302 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, +0.03%; S&P 500, +0.2%; Nasdaq, +0.6%; Kospi, -0.7%; Nikkei, -0.7%; Shanghai Composite, +0.1%

Yesterday, Nifty gapped higher but remained volatile in the opening hour. It gradually moved higher as the day progressed and closed above 15,300. Volume was comparatively low. Nifty is now less than 1% below its all-time high. Sensex also crossed the 51,000 mark and closed above that. Broader market indices underperformed benchmark indices. Barring Nifty Metal (-1.8%) and PSU Bank (-0.3%), all other sectoral indices closed in the green. Nifty Realty closed 2.8% higher. After many days of muted action, Nifty IT (1.8%) led the gains today. Nifty Auto, FMCG, Pharma, and Financial Service closed 0.1–0.5% higher. Nifty is trading 3% and 3.8% above its 21- and 50-DMA, respectively.

Last week, Nifty retook its 50-DMA, did not add a distribution day, and registered an additional follow-through day, which are positive signs. We would like the index to hold its 50-DMA and trade above that. Without trying to predict and decode stories, we will take what the market gives and continue to monitor unfolding conditions. 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 relative strength line at or near new highs while reducing exposure to stocks breaking below key support levels.

Key Results Today: Dixon Technologies (India) , Sun Pharm.Industries , Cadila Healthcare,  Alkyl Amines Chemicals, and others.

Key News:

Bharat Petroleum reported its Q4 FY21 results. Revenue was up 15.2% q/q to Rs 76,882 crore. Margins improved to 6.6%. PAT surged almost 4x to Rs 11,940.1 crore. Bottomline beats consensus.

Tata Consultancy Svs made a partnership with LACChain to develop a blockchain ecosystem in Latin America and the Caribbean.

Cummins India (Nse) reported its Q4 FY21 results. Revenue was up 18.2% y/y to Rs 1,256.25 crore. PAT stood almost flat at Rs 168.6 crore.

Stocks on the move on 26.05.2021

Up in price:

Down in price