Tag: Follow-Through Day

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Nifty Sheds Opening Gains; BFSI Stocks Underperform

Today’s Action

Nifty, +0.07%; Sensex, -0.03%; Nifty Midcap, -0.2%; Nifty Smallcap, -0.1%; Model Portfolio, +0.5%

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Nifty gapped higher this morning but gradually moved lower as the day progressed. In the last hour, Nifty recovered from the day’s low and managed to close in the green. Volume was lower compared with the last few sessions. Banking and Financial-related stocks underperformed (Hdfc Bank, Axis Bank, Indusind Bank (Nse), and Housing Development Fin. were down 0.5–2.0%). All other sectors closed in positive territory. Nifty Pharma, FMCG, Realty, IT, and Auto closed 0.2–0.7% higher. Nifty Bank and Financial Services closed almost 1% lower. The advance-decline ratio was in favor of advancers. Of the 2,263 stocks traded, 1,040 advanced, 874 declined, and the rest remained unchanged. Nifty is trading 2.5% and 3.0% 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 Uptend 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

Emami’s Q4 FY21 revenue grew 37.2% y/y to Rs 730.8 crore. EBITDA grew 65% y/y to Rs 162 crore. Margin expanded 380bps to 22.3%. Domestic volume grew 39% y/y.

Ttk Prestige announced its Q4 FY21 results. Revenue grew 43% y/y to Rs 598 crore. The company reported a profit of Rs 85.4 crore against a profit of Rs 8.6 crore for the corresponding period last year. Margin expanded 930bps to 18%.

Newgen Software Techs’s Q4 FY21 revenue grew 7.8% y/y to Rs 200 crore. PAT grew 48.9% y/y to Rs 52.7 crore. Margin contracted 390bps to 33.2%.

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Mahanagar Gas Q4 Results Almost in line with Consensus; Alkem Lab and Emami to Report Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,324, compared with Nifty close of 15,198 yesterday.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, +0.5%; S&P 500, +1%; Nasdaq, +1.4%; Kospi, +0.7%; Nikkei, +0.6%; Shanghai Composite, +1.3%

Yesterday, Nifty opened briefly in the green and made a high of 15,251. However, it turned negative in the opening hour. The index was range-bound and closed 0.15% higher. Broader indices outperformed benchmark indices. The advance-decline ratio was in favor of advancers. Of the 2,259 stocks traded, 1,189 advanced, 760 declined, and the rest remained unchanged. On the sectoral front, barring Nifty FMCG (-0.3%) and Metal (-0.6%), all other indices closed in the green. Nifty PSU Bank closed more than 2% higher, followed by 1.3% gain in Nifty Realty. Nifty Bank, Financial Services, IT, and Pharma closed 0.2–0.9% higher.

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: Emami, Alkem Laboratories, Lux Industries, Polyplex, and others.

Key News:

Mahanagar Gas reported its Q4 FY21 results. Revenue was up 7.7% q/q to Rs 717.6 crore. Profit moderated 2% q/q to Rs 212.8 crore. EBITA remained flat at Rs 316.6 crore.

Grasim Industries reported its Q4 FY21 results. Revenue increased 18.4% y/y to Rs 4,394.2 crore. Profit surged 35.7% y/y to Rs 480.2 crore. EBITA stood at Rs 810.9 crore.

Balaji Amines Limited reported its Q4 FY21 results. Revenue increased 60.9% y/y to Rs 417.6 crore. It reported a profit of Rs 88.80 crore compared with a profit of Rs 29.6 crore in Q4 FY20. EPS for the quarter stood at Rs 26.

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Buy Watchlist: Action Construction Equ,  State Bank Of India , Sharda Cropchem, Astral, I G Petrochemicals, Thirumalai Chemicals, Berger Paints India, Icici Bank, Blue Dart Express, Dhanuka Agritech, Ramkrishna Forgings, Relaxo Footwears, Gujarat State Petronet, Apollo Hosps.Enterprise, Asian Paints,  and Apollo Tricoat Tubes
 
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PSU Banks Outperform; Ramco Cements Reports Mixed Results

Today’s Action

Nifty, +0.2%; Sensex, +0.2%; Nifty Midcap, +0.7%; Nifty Smallcap, +1%; Model Portfolio, +0.6%

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Nifty, after opening briefly in the green, made a high of 15,251. However, it turned negative in the opening hour. Nifty was range-bound and closed 0.15% higher. Broader indices outperformed benchmark indices. The advance-decline ratio was in favor of advancers. Of the 2,259 stocks traded, 1,189 advanced, 760 declined, and the rest remained unchanged. On the sectoral front, barring Nifty FMCG (-0.3%) and Metal (-0.6%), all other indices closed in the green. Nifty PSU Bank closed more than 2% higher, followed by 1.3% gain in Nifty Realty. Nifty Bank, Financial Services, IT, and Pharma closed 0.2–0.9% higher.

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 News

Wpil received an order worth Rs. 409.70 crore from the Government of West Bengal, which is to be completed over a period of 36 months.

The Ramco Cement’s Q4 FY21 revenue came in line with estimates, while PAT missed estimates. Revenue grew 16.8% y/y to Rs 1,650 crore. PAT grew 46.6% y/y to Rs 214.4 crore. Margin expanded 700bps to 28.4%.

India Cements (Nse) announced its Q4 FY21 results. Revenue grew 26% y/y to Rs 1,449 crore. The company reported a profit of Rs 71.6 crore against a loss of Rs 111 crore for the corresponding period last year. Margin expanded 790bps to 13.8%.

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Portfolio Closes 0.6% Higher Against Nifty’s Gain of 0.2%

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SGX Nifty Indicates Flat Opening; IG Petrochemicals and Mahanagar Gas to Report Results Today

At 8:00 am IST, SGX Nifty Futures was trading at 15,185, compared with Nifty’s Friday close of 15,175.

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, +0.4%; S&P 500, -0.1%; Nasdaq, -0.5%; Kospi, -0.4%; Nikkei, +0.2%; Shanghai Composite, -0.2%

Friday, the index opened higher and continued gaining momentum to close near the day’s high. The action qualified as an additional follow – through day as the index closed with more than 1.5% gains on higher volume than on the previous session. On the sectoral front, all the sectors closed in the green. Nifty Bank and Nifty PSU Bank closed 3.8% higher each. Nifty Private Bank and Financial Service also advanced more than 3%.

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: I G Petrochemicals, Balaji Amines Limited, Mahanagar Gas , Poly Medicure, and others.

Key News:

Shree Cement reported its Q4 FY21 results. Standalone revenue was up 22.2% y/y to Rs 3,930.8 crore. It reported a profit of Rs 767.6 crore compared with a profit of Rs 588.1 crore in Q4 FY20.

Jsw Steel reported its Q4 FY21 results. Revenue increased 50.6% y/y to Rs 26,934 crore. It reported a profit of Rs 4,191 crore compared with a profit of Rs 188 crore in Q4 FY20.

United Spirits reported its Q4 FY21 results. Revenue increased 12% y/y to Rs 2,230.4 crore. It reported a profit of Rs 203.3 crore compared with a profit of Rs 49.3 crore in Q4 FY20.

Buy Watchlist: Action Construction Equ,  State Bank Of India , Sharda Cropchem, Astral, I G Petrochemicals, Thirumalai Chemicals, Berger Paints India, Icici Bank, Blue Dart Express, Dhanuka Agritech, Ramkrishna Forgings, Relaxo Footwears, Gujarat State Petronet, Apollo Hosps.Enterprise, Asian Paints,  and Apollo Tricoat Tubes

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Nifty Reclaims its 50-DMA During the Week; Financials and Realty Stocks Outperform

Weekly Action

Nifty, +3.4%; Sensex, +3.7%; Nifty Midcap, +4.3%; Nifty Smallcap, +3.8%; Model Portfolio, +2.8%.

Market Pulse:  Confirmed Uptrend

Distribution Day Count: Three

Weekly Market Review

Nifty remained volatile throughout the week. It started the week with retaking its 50-DMA on Monday and extended the gain in the next session to close above 15,100. However, it staged a reversal there and pared about 1.3% of its gain on Wednesday and Thursday. Today, the index opened, advancing about 80 points, and continued gaining momentum in the whole session to close near the day’s high, holding significant gains. Further, today’s action qualified as an additional follow through day as the index closed with more than 1.5% gain on higher volume than on the previous day.

On the sectoral front, barring Nifty FMCG (-0.3%), all sectors closed in the green. Sectors related to financials posted solid performance. Nifty Bank (+7.6%) was the top gainer for the week, followed by Nifty Pvt Bank (+7.3%) and Nifty PSU Bank (+7%). Further, Nifty Realty and Nifty Financial Services gained more than 6% for the week. Today, the advance-decline ratio was in favor of advancers. Of the 2,260 stocks traded, 1,199 advanced, 723 declined, and the rest remained unchanged.

This 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 News

Hindalco Industries ’s Q4 FY21 revenue grew 44.2% y/y to Rs 14,412 crore. PAT was up 51.8% y/y to Rs 495 crore. EBITDA was up 30.3% y/y to Rs 1,487 crore.

Dhanuka Agritech announced its Q4 FY21 results. Consolidated revenue from operations grew 21.1% y/y to Rs 275.6 crore. PAT was up 24.7% y/y to Rs 48.6 crore. EBITDA advanced 41.2% y/y to Rs 64.6 crore.

State Bank Of India announced its Q4 FY21 results. NII declined 18.9% y/y to Rs 27,067 crore. PAT surged 80.1% y/y to Rs 6,451 crore. Provisions stood at Rs 11,051 crore as against Rs 13,495.1 crore in Q4 FY20

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