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Daily Report 11-May-22

Indian market ended at lower point of the day; pain was outside blue-chip stocks.  Metal, Oil & Gas and other mid-cap counters were down heavily.

VIX @ 22.30: it remains our biggest concern, Nifty continue to witness daily volatility of 250 points & above, this trend may continue.  It would turn ugly if VIX rise above 24 – 25 level.

SGX Nifty indicates flat opening ahead of important inflation data.  Technical view remains bearish on intermediate term & bounce seen till Nifty @ 16124 & Banknifty @ 34074 are hold on to.

Market can surprise with short covering rally, we would prefer to play any long via hedge or options at the same time reduce exposure bring cash level to 20%, 30% or even 50% as per conviction as risk-off trade continues and market is yet to bottom out.

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Daily Report 10-May-22

Indian market recovered after gap-down opening, ended with losses less than 1 % on Indices.

Wall street ended another day of selling as risk-off trade continues. Bitcoin now trade below $31000 in major risk-off trade.  Crude oil declines as European union softens some of sanctions on Russian oil, Crude oil slide over 5%.

INR plunges to all-time low closed at 77.4825.  RBI intervenes to defend rupee, India’s forex reserve at comfortable level of $600 dollar.  RBI seeks order depreciation.

LIC IPO fully subscribed, final subscription ends at 3x the issue.  Retails portion subscribed 2x and Policy holder subscribed at 6.12x.

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10-May-2022-Daily-Report.pdf
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Daily Report 9-May-22

Market View: Market is in oversold zone; global cues remain negative even after sharp sell-off seen in last week.  Technical indicate bounce back on chart, we would prefer to play long via options & prefer to reduce position on rise.

Nifty PCR @ 0.74 does indicate oversold zone, after today’s gap-down & around support level of 16124 on Nifty – it could provide favourable risk-reward to go long.  To play any long we would prefer to play via hedge position as overall trend reman sell on rise for the month of May 2022.

VIX @ 21.25: closing above 20 would be cautious and in case VIX above 25 could be highly volatile.

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9-May-2022-Daily-Report.pdf
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Daily Report 6-May-22

Indian market ended flat and gave up early gains, even weekly options expiry fails to hold on to market and indices closed near the low points of day.

Band of England – raise inflation target for FY22 to 10% from 5.75%.  It triggered sell-off in global market.

Wall Street – major indices were down from 3.12% to 4.99%.  US Market witness relief rally / short covering post US Fed chairman Jerome Powell press conference.

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6th-May-2022-Daily-Report.pdf
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Daily Report 5-May-22

RBI surprise rate hike triggered panic sell-off ahead of US FOMC meeting.  Indices were down around 2.29% – 2.49%.  RBI hikes repo rate by 40 bps to 4.40% & CRR by 50 bps.

US FOMC meeting outcome: increase rate by 50 bps & Balance sheet reduction to start from 1st June with $47.5 billion per month and will go up to maximum $95 billion per month in 3 months.

Wall Street recovered sharply post US Fed chairman Jerome Powell press conference, ruling out aggressive rate hike.

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5-May-22 – Daily Report.pdf
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Daily Report 30-Mar-22

Russia-Ukraine talks: Russia to sharply cut military operation near KYIV & CHERNIHIV. Globally market as taken this as a first step towards end of war.

Commodity prices cooled off on reaction of this news are covered after initial downward reaction. Gold went below $1900 is now above $1920. Crude Oil recovered around $4 – 5 from yesterday’s low.

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30th March 2022 – Daily Report.pdf
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Daily Report 28-Mar-22

Indian Market25-Mar-22
IndicesCloseChange% chg
Nifty17153.00-69.75-0.40%
Sensex57362.20-233.48-0.41%
Banknifty35410.10-117.00-0.33%
Indian Market25-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10029274.55-33.80-0.12%
Nifty Small-Cap 10010304.45-51.20-0.49%
India VIX23.43-0.50-2.09%
US Market25-Mar-22
IndicesCloseChange% chg
Dow 3034861.24153.300.44%
S&P 5004543.0422.880.51%
Nasdaq14169.30-22.54-0.16%
Currency / Commodity25-Mar-22
IndicesCurrent
USD/INR76.1950
EUR/INR83.9560
Dollar Index99.115
US 10-year bond2.505%
WTI Crude Oil$ 110.58
Brent Crude Oil$ 114.30
Gold$ 1947
Bitcoin$ 46,862
FII / DII Activity25-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII1507.37
DII1373.02

Trade Setup

  • China begins locking down most of its largest city, Shanghai, to begin mass testing its population of 26 million, reports AP
  • Russia-Ukraine crisis enters 33rd day – any positive news on this front will be taken positively for market, on-going conflict with no other nation getting involved will remain market neutral.
  • Indian market: focus will shift on final F&O expiry for March series and year end NAV management will keep downside limited.
  • Petrol & Diesel prices hiked for sixth time in seven days: 30 paise / Litre in Petrol & 35 paise / Litre in Diesel.
  • SGX Nifty @ 17212.50 up 21.50 points at 8:00 AM

Technical View

  • Nifty: RSI @ 53.74 & RSI average @ 52.63. 200-DMA @ 17036 & 20-DMA @ 16717. We expect Nifty to trade with downward bias and likely to test lower level at 17036 & 16717 and resistance level on Nifty comes at 17339.
  • Banknifty: took support near 20-DMA @ 35170 on Friday at 35203. Banknifty trading near important support level, below this Banknifty could test lower level at 34491 & 33940.
  • VIX @ 23.43: have cooled-off around 30 level in 1st week of March, but still remain above comfort level of 20, we expect volatility to continue.
  • SGX Nifty @ 17212.50: Indicate flat opening after last hour recovery on Friday, whether it was only limited to Friday or this trend can continue – opening hour trade will provide further cues.
  • Nifty & Banknifty trend reversal: Nifty at 17285 & Banknifty at 35957 could act as resistance level and above this could open further upside.

Stock Updates

  • PVR: The multiplex operator has approved a merger with Inox Leisure. Shareholders will get three shares of PVR for every ten shares they hold of Inox. PVR now operates the largest multiplex network in India with 871 screens at 181 properties in 73 cities (India and Sri Lanka).
  • Vedanta: The board of Vedanta approved capital expenditure of $687 million in Cairn Oil & Gas to increase near-term volume. It earmarked a capex of $466 million towards Zinc International’s Gamsberg Phase 2 project. Further, it has set aside $348 million for an expansion project at its subsidiary ESL Steel.
  • Larsen & Toubro: The Ministry of Defence has signed a contract with Larsen & Toubro for acquisition of two multipurpose vessels for Indian Navy at an overall cost of Rs 887 crore.
  • Bharti Airtel: Bharti Airtel to buy 4.7% stake in Indus Towers for Rs 2,388.06 crore.
  • Exide Industries: Exide Industries incorporated a wholly owned subsidiary, Exide Energy Solutions Ltd., to set up a a green field multi-gigawatt Lithium-ion cell manufacturing facility in India with an initial authorised and paid-up equity share capital of Rs 100,000.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
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Daily Report 25-Mar-22

Indian Market24-Mar-22
IndicesCloseChange% chg
Nifty17222.75-22.90-0.13%
Sensex57595.68-89.14-0.15%
Banknifty35527.10-620.25-1.72%
Indian Market24-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10029308.35171.050.59%
Nifty Small-Cap 10010355.6544.650.43%
India VIX23.93-0.82-3.31%
US Market24-Mar-22
IndicesCloseChange% chg
Dow 3034707.95349.441.02%
S&P 5004520.1663.921.43%
Nasdaq14191.84269.231.93%
Currency / Commodity24-Mar-22
IndicesCurrent
USD/INR76.3250
EUR/INR83.8970
Dollar Index98.532
US 10-year bond2.372%
WTI Crude Oil$ 112.22
Brent Crude Oil$ 119.19
Gold$ 1964.70
Bitcoin$ 44,049
FII / DII Activity24-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII1740.71
DII2091.07

Trade Setup

  • Indian market ended the day flat, but Banknifty ended with cut of 1.72% on back of KOTAKBANK block deal. IT continue its upward momentum and Mid-Cap & Small-Cap seeing some build up ahead of FY end.
  • NATO emergency summit: U.S. imposed new sanctions on over 400 political figures, oligarchs & defense cos. Biden said that he believed Russia should be ousted from Group of 20
  • U.S. expected to announce on Friday measures to enhance European energy security & cut its dependence on Russian gas
  • NATO Summit: France President MACRON – We are entering in an unprecedented food crisis; situation will be worse in in 12 to 18 months as Ukraine cannot sow.
  • OMC hikes fuel prices 3rd time in last 4 days. Crude Oil cooled off around $3 yesterday.

Technical View

  • Nifty: RSI @ 55.21 & RSI average @ 52.35, showing signs of tiredness and supply at higher level. Nifty may attempt to test recent high 17442 & 17515 level. Nifty support remains at 17024 & 16765.
  • Banknifty: 200-DMA @ 36707 & 20-DMA @ 35270. Banknifty continue to remain in range with negative bias, Banknifty after yesterday’s move is in oversold zone rally going into final F&O expiry not ruled out.
  • VIX @ 23.93: continue to trade above comfort level of 20, expect volatility to continue ahead of final F&O expiry and financial year end.
  • SGX Nifty: indicate opening around 100 points up, first up may get sold into and real strength has to come from Banking stocks.

Stock Updates

  • Tata Consumer: The company will consider preferential issue of equity shares representing 1.5% of the paid-up share capital to a foreign company on March 29.
  • Gulshan Polyols: The company approved allotment of 24,16,000 equity shares to five QIBs at the issue price of Rs 326.48 per share (including a premium of 325.48 at the face value of Rs 1 per share) which is at a discount of 5% to the floor price of Rs 343.66 per share.
  • Zen Technology: The company received a project order sanction from the Indian Army for design and development of a prototype of the Integrated Air Defence Combat Simulator. The equipment will help in imparting training to gunners at unit level.
  • Lupin: The company has received approval from the United States Food and Drug Administration for Sildenafil for oral suspension, 10 mg/ml to market a generic equivalent of Revatio for oral suspension. The drug will be manufactured at company’s facility in Goa.
  • NTPC: The company commissioned 42.5 MW of 100 MW Ramagundam Floating Solar PV Project in Telangana, taking the company’s total commercial capacity to 54,494.68 MW.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
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Daily Report 14-Mar-22

Indian Market11-Mar-22
IndicesCloseChange% chg
Nifty16630.4535.550.21%
Sensex55550.3085.910.15%
Banknifty34546.2570.650.20%
Indian Market11-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10028210.35171.650.61%
Nifty Small-Cap 10010158.4091.900.91%
India VIX25.35-0.23-0.90%
US Market11-Mar-22
IndicesCloseChange% chg
Dow 3032944.19-229.88-0.69%
S&P 5004204.31-55.21-1.30%
Nasdaq12843.81-286.15-2.18%
Currency / Commodity11-Mar-22
IndicesCurrent
USD/INR76.40
EUR/INR84.146
Dollar Index99.237
US 10-year bond2.037 %
WTI Crude Oil$ 106.27
Brent Crude Oil$ 109.59
Gold$ 1976.80
Bitcoin$ 38,141
FII / DII Activity11-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII2263.90
DII1686.85

Trade Setup

  • Russia-Ukraine crisis: News over the weekend continue to remains a concern as military operation enters the 19th day.
  • In a latest update on Russia-Ukraine crisis: Ukrainian negotiator & presidential adviser - "We will not concede in principle on any positions. Russia now understands this & is beginning to talk constructively. I think that we will achieve some results in a matter of days"
  • Global market hopeful of latest peace talk, Crude Oil cooled-off further around $3 down on WTI & Brent crude, gold trading below $2000.
  • In a holiday shorten week, where US FOMC meeting outcome on 16-Mar-22, US 10-year bond yield back above 2.00%. SGX Nifty indicates opening around 16600 level.
  • SGX Nifty @ 16572.50 down 77 points at 8:00 AM.

Technical View

  • Nifty witness sharp bounce back from oversold zone, Nifty RSI & RSI average on 7-Mar EOD was 30.47 & 37.70 respectively, and as on 11-Mar-22 – RSI @ 46.37 & RSI average @ 40.76.
  • Comparing RSI from 7-Mar & 11-Mar, witnessing sharp bounce back will get sold into at the same pace. Nifty is very much is down trend and taking support around 15700 to be closely watched.
  • Banknifty could test 32155 (recent low) & 31504 level in case further weakness. Banknifty 200-`DMA @ 36685 could act as strong resistance level.
  • Banknifty counter trade opportunity: US FOMC event will have direct impact on Banknifty and 10-Mar-22 high of 35374 – cross over this level could provide good entry opportunity.

Stock Updates

  • GAIL India: The company approved second interim dividend of Rs 5 per equity share, 50% of the paid up share capital.
  • Lupin: The company received U.S. FDA approval for its Abbreviated New Drug Application (ANDA), Vigabatrin for Oral Solution USP, 500 mg to market a generic equivalent of Sabril for Oral Solution, 500 mg of Lundbeck Pharmaceuticals.
  • HDFC Bank: The Reserve Bank of India has allowed HDFC Bank to resume new digital initiatives, removing all previous curbs.
  • One 97 Communications: The Reserve Bank of India has barred Paytm Payments Bank from adding new customers.
  • Tech Mahindra: Acquires Thirdware Solutions for $42 million.
  • Torrent Power: The company has completed acquisition of Surya Vidyut that operates 156 MW Wind power plants spread across the states of Gujarat, Rajasthan, and Madhya Pradesh.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Daily Reports

Daily Report 11-Mar-22

Indian Market10-Mar-22
IndicesCloseChange% chg
Nifty16615.90270.551.66%
Sensex55545.57898.241.64%
Banknifty34542.50727.052.15%
Indian Market10-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10028038.70253.200.91%
Nifty Small-Cap 10010066.50138.851.40%
India VIX25.58-1.89-6.88%
US Market10-Mar-22
IndicesCloseChange% chg
Dow 3033174.07-112.18-0.34%
S&P 5004259.20-18.36-0.43%
Nasdaq13129.96-125.58-0.95%
Currency / Commodity10-Mar-22
IndicesCurrent
USD/INR76.38
EUR/INR84.3620
Dollar Index98.517
US 10-year bond1.967%
WTI Crude Oil$ 106.02
Brent Crude Oil$ 108.95
Gold$ 1999.90
Bitcoin$ 38,426
FII / DII Activity10-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII1981.15
DII945.71

Trade Setup

  • Indian market had huge gap-up on news of Russia-Ukraine looking towards diplomatic solution and election result in 5 state assembly election. Indian market ended off from day’s high on a weekly options expiry day. Nifty gained 1.66% & Banknifty was up 2.15%.
  • Russia-Ukraine foreign minister’s press conference after the talk in Turkey – failed to reach on any solution or ceasefire, Military operation continues on 15th day.
  • US CPI & Core CPI data came at 4-decade high, in line with expectation, US 10-year bond yield crossed 2.00% mark and current trading below this level.
  • Crude Oil & metal and other commodity cooled-off after initial reaction on Russia-Ukraine talk ended inconclusive.
  • SGX Nifty @ 16514.50 down 55.50 points at 8:25 AM.

Technical View

  • Nifty witness V-shape recovery and tested around 16750 level high made yesterday and on 28-Feb-22 after initial recovery from news first came on 24-Feb-22.
  • Nifty 200-DMA now @ 16959, now it will be important to watch whether market continues its lower top / lower bottom formation or not?
  • Banknifty gave a surprise move yesterday, Banknifty 200-DMA comes at 36686 – around 2000 points away from current level.
  • VIX @ 25.50, cooled-off from high, but still trading at elevated level.
  • Market had been reacting to geo-political news flow and now market is not getting knee-jerk reaction on news from this end. Technical setup indicates – market recovered from oversold zone and now trading in range it could go either way. US FOMC meeting event is a key event to watch out for.

Stock Updates

  • Wipro: The company has announced a long-term partnership with Pandorum Technologies for development of technologies that shorten time-to-market and maximise patient outcome during R&D and clinical trials of regenerative medicine.
  • Indraprastha Gas: Received a letter of intent from the Petroleum and Natural Gas Regulatory Board for for development of CGD network in Banda, Chitrakoot and Mahoba in Uttar Pradesh.
  • Infosys: Announced a multi-year transformational collaboration with International Tennis Hall of Fame, making the company ITHF’s official digital innovation partner and title sponsor of the annual ATP Tour tournament — the Infosys Hall of Fame Open.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.