Tag: Distribution Day Count

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SGX Nifty Indicates Muted Opening; Havells India and Zee Entertainment to Report Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,022, compared with Nifty’s close of 15,030, yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, -0.5%; S&P 500, -0.3%; Nasdaq, -0.03%; Kospi, -0.4%; Nikkei, +0.1%; Shanghai Composite, -0.4%

Nifty, after opening lower yesterday, traded toward the day’s high of 15,133 in the initial hour. However, it staged a reversal from there amid profit booking and closed near the day’s low holding 0.5% loss. Volume was lower than the previous session, which helped the index avoid a distribution day. Broader indices performed better than benchmark indices. Nifty Midcap closed 0.1% lower, while Smallcap advanced 0.6%.

On the sectoral front, mixed reactions were observed. Nifty Realty (+2.2%) led the gains followed by Nifty Media and Nifty Pharma, which advanced 2.0% and 1.2%, respectively. On the flip side, Nifty Fin Service (-1%) was the major decliner, while Nifty Metal, Nifty BANK, and Nifty Auto declined 0.7–0.9%. The advance-decline ratio was in favor of advancers. Of the 2,258 stocks traded, 1,069 advanced, 833 declined, and the rest remained unchanged.

Nifty recently retook its 50-DMA, which is a positive sign. 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 Uptend Under Pressure. Continue to trim or avoid ideas lagging and/or breaking down below major moving averages.

Key Results Today: Havell’s India, Zee Entertainment Ents., Hindustan Ptl. (Nse), Torrent Power, Knr Constructions, and others.

Key News:

J K Tyre & Inds. reported its Q4 FY21 results. Consolidated revenue was up 63.3% y/y to Rs 2,927 crore. It reported a profit of Rs 189 crore compared with a loss of Rs 47 crore in Q4 FY20.

Endurance Technologies reported its Q4 FY21 results. Revenue increased 33.6% y/y to Rs 2,132 crore. PAT grew 76.4% to Rs 187 crore.

Rajesh Exports (Nse): Life Insurance Corporation of India acquired another 2.025% stake, increasing it to 9.07% from 7.045% in the company.

Buy Watchlist: Sharda Cropchem, Astral, I G Petrochemicals, Thirumalai Chemicals, Icici Bank, Blue Dart Express, Dhanuka Agritech, Ramkrishna Forgings, Relaxo Footwears, Gujarat State Petronet, Apollo Hosps.Enterprise, Asian Paints, Apollo Tricoat Tubes, Coromandel International, and Guj.Ste.Fert.& Chems.

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Auto, Metal, and Financial Stocks Drag the Index; Indian Oil Q4 Results Beat Consensus on All Fronts

Portfolio Closes Flat Against Nifty’s Decline of 0.5%

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Auto, Metal, and Financial Stocks Drag the Index; Indian Oil Q4 Results Beat Consensus on All Fronts

Today’s Action

Nifty, -0.5%; Sensex, -0.6%; Nifty Midcap, -0.1%; Nifty Smallcap, +0.6%; Model Portfolio, -0.08%

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Nifty, after opening lower this morning, traded toward the day’s high of 15,133 in the initial hour. However, it staged a reversal from there amid profit booking and closed near the day’s low holding 0.5% loss. Volume was lower than the previous session, which helped the index avoid a distribution day. Broader indices performed better than benchmark indices. Nifty Midcap closed 0.1% lower, while Smallcap advanced 0.6%.

On the sectoral front, mixed reactions were observed. Nifty Realty (+2.2%) led the gains followed by Nifty Media and Nifty Pharma, which advanced 2.0% and 1.2%, respectively. On the flip side, Nifty Fin Service (-1%) was the major decliner, while Nifty Metal, Nifty Bank, and Nifty Auto declined 0.7–0.9%. The advance-decline ratio was in favor of advancers. Of the 2,258 stocks traded, 1,069 advanced, 833 declined, and the rest remained unchanged.

Nifty recently retook its 50-DMA, which is a positive sign. 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. Continue to trim or avoid ideas lagging and/or breaking down below major moving averages.

Key News

Indian Oil announced its Q4 FY21 results, beating consensus on all fronts. Revenue was up 16.3% q/q to Rs 1.24 lakh crore. PAT increased 78.6% q/q to Rs 8,781 crore. EBITDA advanced 40.3% q/q to 13,501 crore.

Prism Johnson announced its Q4 FY21 results. Revenue was up 24.7% y/y to Rs 1,850 crore. The company reported a profit of Rs 157.4 crore against a loss of Rs 38 crore for the corresponding period last year. EBITDA advanced 76.1% y/y to 237.3 crore.

Heritage Foods announced its Q4 FY21 results. Revenue declined 5% y/y to Rs 619.3 crore. The company reported a profit of Rs 24.2 crore against a loss of Rs 209.2 crore for the corresponding period last year. EBITDA stood at Rs 45.3 crore.

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SGX Nifty Indicates Muted Opening; Indian Oil and Indiabulls Housing Finance to Announce Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,063, compared with Nifty’s close of 15,108, yesterday.

Market Pulse: Confirmed Uptrend


Distribution Day Count: Three

Global stock markets: Dow30, -0.8%; S&P 500, -0.9%; Nasdaq, -0.6%; Kospi, +1.2%; Nikkei, -1.2%; Shanghai Composite, -0.5%

Yesterday, Nifty opened with a gap-up of more than 140 points, taking strong global cues. It held the opening gain throughout the day and traded in a narrow range near the day’s high of 15,137. Volume was higher than the previous session. Broader market indices showed solid outperformance. Nifty Midcap closed 1.8% higher and Smallcap advanced 1.6%.

On the sectoral front, mixed reactions were observed. Nifty Auto (+3.2%) led the gains followed by Nifty Media and Nifty Metal, which advanced 1.7% each. On the flip side, Nifty PSU (-1.3%) was the major decliner, while Nifty FMCG and Nifty Pharma declined 0.2% each. The advance-decline ratio was in favor of advancers. Of the 2,259 stocks traded, 1,204 advanced, 710 declined, and the rest remained unchanged.

On a technical perspective, Nifty retook its 50-DMA, which is a good sign. 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. Continue to trim or avoid ideas lagging and/or breaking down below major moving averages.

Key Results Today: Indian Oil, Indiabulls Housing Fin, Tci Express, Heritage Foods, J K Tyre & Inds, and others.

Key News:

Tata Motors reported its Q4 FY21 results. Consolidated revenue was up 41.8% y/y to Rs 88,627 crore. It reported a lesser loss of Rs 7,605 crore compared with a loss of Rs 9,894 crore in Q4 FY20.

Torrent Pharmaceuticals reported its Q4 FY21 results. Revenue decreased a meager Rs 9 crore y/y to Rs 1,937 crore. PAT increased 3.2% to Rs 324 crore.

Brigade Enterprises  (Nse)  reported its Q4 FY21 results. Revenue grew 24.6% y/y to Rs 791 crore. It reported a profit of Rs 39 crore against Rs 2.7 crore profit in Q4 FY20.

Buy Watchlist: Blue Dart Express, Dhanuka Agritech, Ramkrishna Forgings, Pi Industries, Relaxo Footwears, Gujarat State Petronet, Apollo Hosps.Enterprise, Asian Paints,  and Apollo Tricoat Tubes

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Is Carborundum Universal Still A Good Buy?

Watch Out for Jsw Holdings As Its Marches Towards Its 52-week High

Rain Industries: Breaks Out From A 7-week Cup with Handle Pattern.

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SGX Nifty Indicates Positive Opening; Tata Motors and Canara Bank to Announce Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,118, compared with Nifty’s close of 14,923, yesterday.

Market Pulse: Confirmed Uptrend


Distribution Day Count: Three

Global stock markets: Dow30, -0.2%; S&P 500, -0.3%; Nasdaq, -0.4%; Kospi, +1.2%; Nikkei, +2.2%; Shanghai Composite, +0.1%

Nifty opened around 100 points higher yesterday, tracking global cues. The index continued to be in the green through the session and, in the process, reclaimed its 50-DMA. As volume was lower than the previous session, yesterday’s action didn’t qualify as an additional follow-through day. Of the Nifty50 stocks, 78% advanced led by Indusind Bank (Nse) (+7.5%) and State Bank Of India (+6.7%).

Barring Nifty Media (-0.5%) and Pharma (-0.2%), all the sectoral indices closed in the green. Financial related indices led the rally followed by Metal stocks. The advance-decline ratio was in favor of advancers. Of the 2,299 stocks traded, 1,333 advanced, 627 declined, and the rest remained unchanged.

On a technical perspective, Nifty retook its 50-DMA, which is a good sign. 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. Continue to trim or avoid ideas lagging and/or breaking down below major moving averages.

Key Results Today: Tata Motors, Canara Bank (Nse), Aarti Industries (Nse), Pi Industries, Torrent Pharmaceuticals, and others.

Key News:

Bharti Airtel reported its Q4 FY21 results. Revenue was down 2.9% q/q to Rs 25,747 crore. PAT declined 11.1% to Rs 759 crore.

Orient Cement  reported its Q4 FY21 results. Revenue increased 27.1% y/y to Rs 831 crore. PAT surged 1.3x to Rs 99 crore.

Buy Watchlist: Ramkrishna Forgings, Hindustan Zinc (Nse), Pi Industries, Relaxo Footwears, Tata Power, Gujarat State Petronet, Apollo Hosps.Enterprise, Eris Lifesciences, Asian Paints, Wipro (Nse), Amrutanjan Health Care, Lux Industries, Rain Industries,  and Apollo Tricoat Tubes

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Balkrishna Industries Reaches its 52-week High On Higher Volume.

Solara Active Marching North As it Breaks out of a 11-week Cup Pattern.

Phillips Carbon Forming a 6 Week Cup With Handle Pattern.

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Nifty Retakes its 50-DMA; Financial Related and Metal Stocks Surge

Today’s Action

Nifty, +1.7%; Sensex, +1.7%; Nifty Midcap, +1.8%; Nifty Smallcap, +1.2%; Model Portfolio, +2.5%

Market Pulse:  Confirmed Uptrend

Distribution Day Count:   Three

Nifty opened around 100 points, higher tracking global cues. The index made a new intraday high, and reclaimed its 50-DMA. As volume was lower than yesterday’s, today’s action didn’t qualify as an additional follow-through day. Of the Nifty50 stocks, 78% advanced led by Indusind Bank(Nse) (+7.5%) and State Bank Of India (+6.7%).

Barring Nifty Media (-0.5%) and Pharma (-0.2%), all the sectoral indices closed in the green. Financial related indices led the rally followed by Metal stocks. The advance-decline ratio was in favor of advancers. Of the 2,299 stocks traded, 1,333 advanced, 627 declined, and the rest remained unchanged.

On a technical perspective, Nifty retook its 50-DMA, which is a good sign. 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. Continue to trim or avoid ideas lagging and/or breaking down below major moving averages.

Key News

Colgate-Palmolive India announced its Q4 FY21 results. Revenue was up 19.8% y/y to Rs 1,283 crore. PAT increased 54.1% to Rs 314 crore.

Federal Bank’s Q4 FY21 NII was up 16.8% y/y to Rs 1,420 crore. PAT surged 58.6% to Rs 477 crore.

Wholesale inflation (WPI) for April increased to 10.49% due to a rise in fuel (petrol and diesel) prices.

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Is Asian Paints Stock still a good buy?

Watch out for Chemical-Agriculture Stock As It Races Towards Its 52-week High.