Category: Daily Pre Market Picture

At 8:00 am IST, SGX Nifty Futures was trading at 15,689, compared with Nifty’s close of 15,690 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, -0.1%; S&P 500, -0.4%; Nasdaq, -1%; Kospi, -0.5%; Nikkei, -0.5%; Shanghai Composite, -0.01%

Nifty opened 80 points higher in yesterday’s session on strong global cues. It consolidated its gains in the first half and witnessed further buying interest in the second half, closing near the day’s high and holding a decent gain. However, volume remained on the lower side, which is a red flag. The broader market indices outperformed the major index. Nifty Midcap gained 0.9% and Smallcap advanced 1.2%. Barring Nifty Pharma, all sectors closed in the green. Nifty Realty (+3.8%) was the top gainer for the day, followed by Nifty Media and Nifty Fin Service, which advanced 1.6% and 1.0%, respectively. Similarly, Nifty Bank, FMCG, Metal, and PVT Bank closed 0.5–0.9% higher.

Nifty continues to make fresh highs and is currently trading 3.8% and 5.8% 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: Iol Chemicals & Pharms , Bharat Forge,  Jubilant Pharmova, and others.

Key News:

Apl Apollo Tubes reported its Q4 FY21 results. Revenue was up 37% y/y to Rs 2,587 crore. PAT surged 121% y/y to Rs 134 crore. EBITDA grew 72% y/y to Rs 206 crore.

Gujarat State Petronet reported its Q4 FY21 results. Revenue declined 22% y/y to Rs 465 crore. PAT moderated 9% y/y to Rs 206 crore. EBITDA was down 3% y/y to Rs 399 crore.

Dr. Reddy’s Laboratories made a strategic partnership with Snowman Logistics to deliver Sputnik-V across the country.

Buy Watchlist: Nippon Life India Asset Management ,  Bhansali Engr. (Nse), 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, Berger Paints India, Icici Bank, Ramkrishna Forgings, Gujarat State Petronet, Apollo Hosps.Enterprise,  and Apollo Tricoat Tubes

Sell Watchlist: Advanced Enzyme Techs.

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Break the Stereotype; Buy High, Sell Higher

At 8:00 am IST, SGX Nifty Futures was trading at 15,716, compared with Nifty’s close of 15,576 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, +0.1; S&P 500, +0.1%; Nasdaq, +0.1%; Kospi, +0.8%; Nikkei, +0.3%; Shanghai Composite, -0.02%

Nifty started the session on a weaker note yesterday and continued to move lower. However, in the last couple of hours, it advanced more than 100 points from the day’s low and closed flat. Yesterday, volume was on the lower side. Broader market indices outperformed the major index. Nifty Midcap and Smallcap gained more than 1%. On the sectoral front, Nifty Auto (+1.9%), Metal (+2.1%), and PSU Banks (+3%) were the top gainers. On the flip side, Nifty FMCG, IT, and Financial Services closed 0.2–0.7% lower.

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: Cupid,  Apl Apollo Tubes,  Nilkamal Nse , and others.

Key News:

Mtar Technologies  reported its Q4 FY21 results. Revenue was up 12% y/y to Rs 616 crore. PAT surged 104% y/y to Rs 88 crore. EBITDA grew 107% y/y to Rs 145 crore.

Wipro  signed a partnership deal with Finastra Partner to accelerate digital transformation in transaction banking.

Ratnamani Metals & Tubes received a domestic order worth Rs 81.79 crore for carbon steel pipes from the oil and gas sector.

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

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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

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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

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Break the Stereotype; Buy High, Sell Higher