Category: Daily Pre Market Picture

At 8:15 am IST, SGX Nifty Futures was trading at 15,661, compared with Nifty’s close of 15,767 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Two

Global stock markets: Dow30, -0.8%; S&P 500, -0.5%; Nasdaq, -0.2%; Kospi, -1.4%; Nikkei, -1.4%; Shanghai Composite, -0.2%

Yesterday, Nifty started the session on a flat note and quickly started to fall. After noon, it observed buying at the dip, but a sell-off in the last hour made Nifty ended near the day’s low. Action qualified as a distribution day as the fall was more than 0.2% on volume higher than Tuesday’s session. It was a broad-based sell-off as broader market indices Nifty Midcap (-0.9%) and Smallcap (-0.5%) also closed in the red. Barring Nifty FMCG (+0.6%) and IT (+0.3%), all the sectoral indices closed lower. Nifty Media (-2.9%) and Realty (-1.3%) declined the most. FIIs and DIIs were net sellers at Rs 870 crore and Rs 875 crore, respectively.

Addition of distribution days is a sign of weakness in the market. However, the count remained at two as one distribution day expired yesterday. 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.

Key News:

Power Grid Corp Of India , Nacto Pharma, Tube Investments Of , and others will report Q4 FY21 results today. 

Wipro partners with Exaware to accelerate innovation in communication networks and 5G upgrades.

Cesc ’s Q4 FY21 PAT grew 14% y/y to Rs 429 crore. Revenue grew to Rs 3,003 crore, compared with Rs 2,729 crore in Q4 FY20.

-The U.S. Fed holds rates at zero, projects two hikes by the end of 2023.

Buy Watchlist: Nippon Life India Asset Management, Bajaj Finance, Sbi Cards And Payment Services, Page Industries, State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-Palmolive India, Sharda Cropchem, Berger Paints India, Icici Bank, Cholamandalam Inv.& Fin., Tata Power, Ratnamani Metals & Tubes, Minda Industries, and Apollo Hosps.Enterprise.

Sell Watchlist: Advanced Enzyme Techs.

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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. 

Buy Watchlist: Nippon Life India Asset Management, Bajaj Finance, Sbi Cards And Payment Services, Page Industries, State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-Palmolive India, Sharda Cropchem, Berger Paints India, Icici Bank, Cholamandalam Inv.& Fin., Tata Power, Ratnamani Metals & Tubes, Minda Industries, and Apollo Hosps.Enterprise.

Sell Watchlist: Advanced Enzyme Techs.

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At 8:00 am IST, SGX Nifty Futures was trading at 15,846, compared with Nifty’s close of 15,811 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Two

Global stock markets: Dow30, -0.3%; S&P 500, +0.2%; Nasdaq, +0.7%; Kospi, -0.1%; Nikkei, +0.7%; Shanghai Composite, -0.8%

After a muted opening yesterday, Nifty quickly fell over 180 points within the first 30 minutes of the session. However, as the session progressed, Nifty staged an upside reversal to pare all its losses and managed to close in the green. Thus, it closed above 15,800 for the first time. Of the Nifty50 stocks, 50% closed in the green, led by Tata Motors (+1.5%) and Reliance Industries (+1.4%).

The majority of sectoral indices closed in the red. Nifty Realty (-1.5%) declined the most, followed by Media (-0.8%) and Metal (-0.7%). On the flipside, Nifty FMCG, IT, and PSU Bank gained 0.1-0.5%. The advance-decline ratio was in favor of decliners, as out of 2,303 stocks traded, 887 stocks advanced, 1,094 stocks declined, and the remaining closed flat.

Nifty is trading at an all-time high, which is a good sign and indicates further upside. One distribution day is set to expire during the week. However, 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.

Key News:

Jubilant Foodworks, Power Finance, Lic Housing Finance, Easy Trip Planners , and others will report Q4 FY21 results today.

Coal India ’s Q4 FY21 revenue fell 3.1% y/y to Rs 26,700 crore. PAT decreased 0.8% to Rs 4,588 crore.

Satin Creditcare Network announced its Q4 FY21 results. Revenue fell slightly to Rs 372 crore from Rs 375 crore in Q4 FY20. PAT surged ~250% to Rs 42 crore.

Nhpc signed a MoU with Bihar State Hydro-Electric Power Corporation (BSHPCL) for execution of Dagmara HE Project (130.1 MW).

Buy Watchlist: Kajaria Ceramics, Sequent Scientific, Bajaj Finance, Sbi Cards And Payment Services, Page Industries, State Bank Of India, Ambuja Cements, Coromandel International, Shriram Tran.Fin., Colgate-Palmolive India, Sharda Cropchem, Berger Paints India, Icici Bank, Ramkrishna Forgings, Gujarat State Petronet, Apollo Hosps.Enterprise,  and Apollo Tricoat Tubes

Sell Watchlist: Advanced Enzyme Techs. and Ghcl

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At 8:00 am IST, SGX Nifty Futures was trading at 15,760, compared with Nifty’s close of 15,799 on Friday.

Market Pulse:  Confirmed Uptrend

Distribution Day Count: Two

Global stock markets: Dow30, +0.04%; S&P 500, +0.2%; Nasdaq, +0.3%; Kospi, +0.1%; Nikkei, +0.5%

Last week, Nifty closed higher for the fourth consecutive week, which happened for the first time in 2021. On Friday, it hit a new all-time high of 15,835 and closed around 15,800 for the first time. Sectoral action was mixed during the week. Nifty IT (+4.5%) and Media (+3.5%) were the top gainers, followed by Nifty Pharma (+2.6%). Financial-related sectors declined 0.5–0.7%. Nifty is trading 2.7% and 5.6% above its 21- and 50-DMA, respectively.

During the week, Nifty registered a distribution day for the first time since May 11. 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 News:

Coal India,  Ifb Industries , Jb Chemicals & Pha. ,  Kajaria Ceramics, and others will report Q4 FY21 results today.

Sun Tv Network ’s Q4 FY21 results beat estimates on all fronts. PAT grew 80% y/y to Rs 449.88 crore. Revenue increased to Rs 782 crore from Rs 735.16 crore y/y.

Adani Enterprises forays into cement business. It incorporated a wholly-owned subsidiary Adani Cement.

Buy Watchlist: Nippon Life India Asset Management, Bajaj Finance, Sbi Cards And Payment Services, Page Industries, State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-Palmolive India, Sharda Cropchem, Berger Paints India, Icici Bank, Cholamandalam Inv.& Fin., Tata Power, and Apollo Hosps.Enterprise.

Sell Watchlist: Advanced Enzyme Techs.

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At 8:00 am IST, SGX Nifty Futures was trading at 15,794, compared with Nifty’s close of 15,737, yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Two

Global stock markets: Dow30, +0.1%; S&P 500, +0.5%; Nasdaq, +0.8%; Kospi, +0.4%; Nikkei, -0.1 %

Yesterday, Nifty opened the session over 50 points higher and stayed in positive territory throughout the session with little intraday swings. Being a weekly expiry, volatility was on the lower side versus a normal expiry session. Volume was lower than in the previous session. Starting May 28, volume has been below the 50-day average. Barring Nifty Auto (-0.1%), all sectoral indices closed in the green. Nifty Media (+4.6%) advanced the most, followed by Realty (+3.3%) and financial-related sectors. FIIs were net buyers at Rs 1,329 crore, while DIIs were net sellers at Rs 575 crore.

On Wednesday, Nifty registered a distribution day for the first time since May 11. 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 News:

Beml, Bharat Heavy Electricals Ltd,  Dlf (Nse),  Sun TV Network (Nse), and others will report Q4 FY21 results today.

Nhpc will raise debt up to Rs 4,300 crore through issuance of corporate bonds and term loans. Q4 FY21 revenue was down 12% y/y to Rs 2,091 crore. PAT grew Rs 171% to Rs 427 crore.

The U.S. May inflation came higher than expected. Core CPI rose 0.7% m/m, above estimates of 0.5%.

Buy Watchlist: Nippon Life India Asset Management, Bajaj Finance, Sbi Cards And Payment Services, Page Industries, State Bank Of India, Ambuja Cements, Eveready Inds.(India), Varun Beverages, Colgate-Palmolive India, Sharda Cropchem, Berger Paints India, Icici Bank, Cholamandalam Inv.& Fin., Tata Power, and Apollo Hosps.Enterprise.

Sell Watchlist: Advanced Enzyme Techs.

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