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  • Indian shares succumbed to heavy selling pressure on Monday as spoking Covid-19 cases in the country and fears over fresh lockdowns in some states dented hopes for a swift economic recovery from the pandemic. India has recorded a massive surge of 169,899 Covid-19 cases and 904 deaths in the last 24 hours, breaking all records and overtaking Brazil to become the second-most affected country globally by the novel coronavirus. Maharashtra remains the worst-affected state with as many as 63,294 new cases, 34,008 recoveries and 349 deaths in the last 24 hours. Global brokerage company Nomura has cut India's GDP forecast to 12.6 percent from 13.5 percent forecast earlier, reflecting the pandemic drag on the economy. Nifty index plunged 524.05 points, to 14,310.80.
  • Nifty open with the negative note and observed selling pressure continued in whole session which result in Bearish Marubozu on the daily cht. However 50 days EMA which was strong support of the index is now working as a resistance level. Index is trading in downward trading channel where it again test its lower band in previous session. As well as on RSI it reached near support level of 40. So, if nifty breach this support than we might see another round of selling in the market.
  • Nifty Put O I Reduction was seen at 14800 followed by 14500.
  • Nifty Call O I addition was seen at 14500 followed by 14600. which can act as short term resistance.
  • Nifty Bank Put O I Reduction was seen at 32500 followed by 32000.
  • Nifty Bank Call O I addition was seen at 31000 followed by 32000 which can act as short term resistance. 
RESEARCH REPORT
  • Indian shares rose sharply on Thursday, mirroring firm cues from global markets after U.S. President Joe Biden announced a multi-trillion-dollar infrastructure investment plan and the latest surveys showed Eurozone factory activity soared in March. The dollar rally passed and yields steadied after the European Central Bank's chief economist reportedly said that the ECB had no intention of curbing its support despite rising inflation. Closer home, India's goods and services tax (GST) collection in March this year hit a record high of Rs 1.23 lakh crore, suggesting that the economic recovery is gathering steam. Nifty index ended up 176.65 points, or 1.20 percent, at 14,867.35.
  • Nifty open with the positive bias where we observed some selling in first half however after a volatile session index close near its high. Buying pressure witnessed from the lower end which result in small body long lower shadow candle on the daily chart. Moreover, index’s RSI breach its downward slopping trendline. However, index is in broad range consolidation so support can be seen near 14650 and might face resistance near 15000 for short term.
  • Nifty  Put O I addition was seen at 14700 followed by 14800 which can act as short term support 
  • Nifty Call O I addition was seen at 14900 followed by 15000.  which can act as short term resistance.
  • Nifty Bank Put O I addition was seen at 33500 followed by 33000 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 34500 followed by 35000 which can act as short term resistance.
RESEARCH REPORT
  • Indian shares ended deep in the red on Wednesday as investors remained wary of spikes in coronavirus cases in major economies, including Germany, France, and Italy. Closer home, the Ministry of Health and Family Welfare has said that all the three new coronavirus variants - the U.K., Brazilian, and South African -- that have wreaked havoc in several countries have been detected in India and were spread out in 18 states. Nifty index ended down 265.35 points, or 1.79 percent, at 14,549.40 ahead of futures and options (F&O) monthly expiry. Metal stocks were among the worst-hit on renewed concerns over the global economic recovery outlook.
  • In the previous session nifty open with the negative note but fill the gap in an earlier session. After that bears take charge and push nifty below 14550 in the second half which results in a long body red candle on the daily chart. In addition to this index closed below 50 days EMA which was acting as a support. Along with this index is forming a bearish cap pattern which is a bearish pattern so we might observe further selling if it close below 14450 levels. Considering all the above factors we might see a bearish mode in the coming future with the resistance of 14900.
  • Nifty Put O I Reduction was seen at 14800 followed by 14700 
  • Nifty Call O I addition was seen at 14700 followed by 14600.  which can act as short term resistance
  • Nifty Bank Put O I Reduction was seen at 34000 followed by 33500.
  • Nifty Bank Call O I addition was seen at 34000 followed by 34500 which can act as short term resistance.

 

RESEARCH REPORT
RESEARCH REPORT
  • Indian shares ended deep in the red once again on Thursday as Fed Chair Jerome Powell's promise to look past inflation raised long-dated bond yields and steepened the Treasury curve to new 5-1/2 year highs. The dollar pushed higher helped by rising U.S. Treasury yields after the Federal Reserve said it expects inflation to rise to 2.4 percent in 2021, much higher than the target inflation rate of 2 percent, before slowing to 2 percent in 2022. Investors worry that if inflation picks up, central banks might respond by raising interest rates, which would cool economic growth. Likewise, it feared that rising bond yields and a robust outlook for U.S. growth could make foreign investors wary about investing in emerging markets.  Nifty index tumbled 163.45 points, to 14,557.85, with pharma, IT and healthcare stocks pacing the decliners.
  • In yesterday’s session index open with positive note where bulls unable to maintain that level and bears back in charge and push nifty below 14500 in second half. Nifty formed three black crow formation on daily chart which indicates that bears became aggressive at higher level and strong selling may continue in coming future. Index closed below its 50 days EMA which can be consider as a strong support. If bulls are unable to close nifty above 14900 then we might see another round of selling.
  • Nifty  Put O I addition was seen at 14200 followed by 14900 which can act as short term support 
  • Nifty Call O I addition was seen at 15000 followed by 14900.  which can act as short term resistance
  • Nifty Bank Put O I addition was seen at 33000 followed by 32000 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 34000 followed by 35000 which can act as short term resistance

 

RESEARCH REPORT
  • Indian shares fell for a second straight session on Monday, as a combination of rising bond yields, weak macro data released on Friday and rising Covid-19 cases in the country sapped investors' appetite for risk. U.S. bond yields hovered near a 13-month peak today as data indicating a surge in China's factory and retail sector activity in the first two months of the year added to investor optimism about economic recovery. On the Covid-19 front, India is witnessing a surge in new coronavirus cases, with Maharashtra, Punjab, Karnataka, Gujarat and Tamil Nadu contributing more than 78 percent of the new cases recorded on Monday. Partial lockdowns have already been enforced in some cities. Nifty index dropped 101.45 points, to 14929.50.
  • Another session where nifty made open high formation where we observed strong selling in first half however bulls back in charge in the second half which result in Hammer pattern which is indicating that buying pressure comes from the lower end. Apart from this we can observe bearish divergence with RSI which may result in another round of selling. Market in in bears grip so we can see observe sell on every rise unless and until it started trading above 15300 level.
  • Nifty Put O I Reduction was seen at 15300 followed by 15000 
  • Nifty Call O I addition was seen at 15100 followed by 14800.  which can act as short term resistance.
  • Nifty Bank Put O I addition was seen at 34000 followed by 33500 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 35000 followed by 36000 which can act as short term resistance.
RESEARCH REPORT
  • Indian shares gave up early gains to end sharply lower on Friday amid selling across the board. Sentiment soured as the benchmark 10-year U.S. Treasury yields hit 1.6 percent once again after the release of better-than-expected jobless claims data and the passage of a massive fiscal stimulus. Rising Covid-19 infections across the country and climbing oil prices also weighed on markets. Crude prices eased somewhat today but held near recent highs on optimism about a recovery in demand. The nifty index hit an intraday high of 15,336.30 before settling at 15,030.95, down 143.85 points, from its previous close.
  • The index formed an open high in the previous session where massive selling was observed in the second half and formed a bearish Marubozu pattern on the daily chart. On the weekly time frame index formed dragonfly Doji which indicates that participants trying to sell from the higher end. In addition to this bearish divergence can be seen on weekly RSI which also indicates weakness in the market. 15500 can be act as a strong resistance zone so for bullish momentum index has to sustain above this level meanwhile we can have a negative bias.
  • Nifty  Put O I addition was seen at 15300 followed by 15000 which can act as short term support 
  • Nifty Call O I addition was seen at 15300 followed by 15400.  which can act as short term resistance.
  • Nifty Bank Put O I addition was seen at 34500 followed by 34000 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 37000 followed by 36500 which can act as short term resistance.
RESEARCH REPORT
  • Federal Reserve Chair Jerome Powell failed to ease concerns around both a spike in inflation and a sustained rise in interest rates. Climbing oil prices also weighed on markets. The U.S. 10-year yields held above 1.5 percent, while the dollar surged to three-month highs after Powell said he expects some inflationary pressures in the time ahead. Powell said the recent run-up in bond yields was "notable" and that "disorderly conditions in financial markets" or a broad tightening of financial conditions would provoke a policy change. But he stopped short of saying that recent market gyrations meet those tests. Powell repeated his pledge to keep credit loose but offered few signs that the central bank might expand monetary stimulus. The nifty index dropped 142.65 points, to 14,938.10.
  • The index fell sharply on Friday amid a global sell-off where the index open with a gap down and the gap was over in the first half and bears take charge in the second half and second straight session where nifty formed upper shadow which shows selling from the higher end. As we discussed earlier index is stuck in a broad range so participants have to wait for further confirmation about the trend.
  • Nifty  Put O I addition was seen at 14500 followed by 14900 which can act as short term support 
  • Nifty Call O I addition was seen at 15500 followed by 15000.  which can act as short term resistance.
  • Nifty Bank Put O I addition was seen at 34000 followed by 33500 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 36000 followed by 38000 which can act as short term resistance.
RESEARCH REPORT
  • Indian shares hit record highs on Monday amid optimism that falling coronavirus infection rates in different parts of the world and the continued rollout of vaccines will provide a major boost to economic recovery. Stimulus news remained in focus as well after U.S. lawmakers approved a budget outline that will allow them to muscle President Biden's $1.9 trillion Covid-19 relief package through in the coming weeks without Republican support. High capex and bold reforms announced in the Union Budget, the Covid-19 vaccination drive in India and upbeat corporate earnings results also helped equity indexes end higher for the sixth straight day running. Nifty index hit an intraday high of 15,159.90 before settling at 15,115.80, up 191.55 points, from its previous close.
  • Nifty open above its resistance level of 15000 and successfully sustain above that level. The index formed a running gap on the previous session which is indicating strong bullish momentum in the market which results in a positive candle. However, nifty’s RSI again reaches near 70 which might work as a resistance level so we might observe further buying if the index sustains above this level.
  • Nifty  Put O I addition was seen at 15000 followed by 15100 which can act as short term support 
  • Nifty Call O I addition was seen at 15500 followed by 15100.  which can act as short term resistance.
  • Nifty Bank Put O I addition was seen at 36000 followed by 33500 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 38500 followed by 36500 which can act as short term resistance.
RESEARCH REPORT
  • Indian shares ended off their day's highs on Friday despite positive global cues and better-than-expected December quarter results from State Bank of India. Earlier today, the Reserve Bank of India (RBI) left its key interest rates unchanged, as expected, at the first policy-setting meeting of the year. Meanwhile, in a big initiative which will broader the investor base, RBI governor Shaktikanta Das announced direct online participation by retail investors in government securities in both primary and secondary market. Key benchmark indexes ended higher for the fifth straight session after hitting record highs in early trade. Nifty index briefly traded above the 15,000 mark before settling at 14,924.25, up 28.60 points, from its previous close.
  • In previous trading session index open with positive note and extended above 15000 on the other hand it unable to sustain above that level and start falling in second half however bulls manage to close nifty above its previous close. Nifty formed spinning top pattern on previous session which indicates that we might see correction from current level. In addition to this index is trading near resistance level so positivity can be expect only if it sustain above 15000 level.
  • Nifty  Put O I addition was seen at 14900 followed by 14500 which can act as short term support 
  • Nifty Call O I addition was seen at 15500 followed by 15200.  which can act as short term resistance.
  • Nifty Bank Put O I addition was seen at 36000 followed by 35500 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 38000 followed by 37000 which can act as short term resistance.
RESEARCH REPORT

Reliance Indutries Limited

CMP:- Rs.1,897                 Target:- Rs.2,305

  • It is first India company to cross $200 million market capitalization and now among the top 50 globally and top 10 in Asia. The Company delivered strong quarterly results with recovery in its petrochemicals and retail segment. Management will continue  to pursue growth initiatives in each of its business segment.
  • Reliance Jio is the first Indegenous 5G RAN product to reach gigabit throughput. Jio Meet is evolving as a complete platform with providing solutions to different segments. Major focus of the company is towards JIO Fibre. The Company has gain market share in telecom segment and is able to maintained sustainable position.
  • Company has cut down debt and is virtually  a debt free company. Market share gain and sustainable margin improvement reinforce robust business fundamentals and inherent operating leverage. Strong customer engagement and ARPU uplift.
  • Announced acquisition of Future Group’s Retail/Wholesale, Logistics/Warehousing business is subject to varouis approvals.
  • The funds raised by the company in Retail segment will help the company to strength capabilities in new commerce. Largest fund raise in India in consumer / retail sector from marquee global investors.  It is looking to accelerate expansion once restriction eases.
  • Under Refining and marketing segment, Domestic market is poised to recover providing opportunity for higher domestic sales and enhanced margins through Jio- BP partnership.
  • In cracker & Polymer, demand growth is expected to continue over next two quarters. Outlook for PVC is favorable.
  • Pre-commissioning and commissioning of R Cluster development is expected in Q3 FY21. Under Satellite cuslter second offshore installation campaign in on track and its commissioning was expected in Q3 CY21. Under MJ cuslter first offshore installation campaign in on track and its commissioning was expected in Q4 FY21.
  • Currently the share of the company is over valued. In short run it is providing opportunity for the investors to buy the shares on dips and accumulate it. The company is fundamentally sound and along with strong management team it has ability to bounce back and its growth drivers mentioned above will help the company to do so in long run. We recommend a “Buy” rating on Reliance Industries Limited and assign the 12-18 month target price of Rs.2,305 based on 24.09x FY22 EPS.
RESEARCH REPORT
  • Indian shares hit record highs on Monday after the government approved emergency use of two Covid-19 vaccines - one developed by AstraZeneca and Oxford University and another by Bharat Biotech. Global cues also remained supportive as the new EU/UK trade deal regulations came into force over the weekend and the U.K. began the Oxford/AstraZeneca vaccine rollout, making another step in the global battle against the pandemic. With auto sales showing signs of revival and GST collections hitting a record high in December, investors ignored survey results from IHS Markit showing that India's manufacturing expansion unexpectedly slowed in December. Nifty index ended up 114.40 points, at 14,132.90.
  • Index first time closed above 14100 level in previous session. Where after a volatile day index formed hanging men pattern on the daily chart which consider as reversal pattern. In addition to this RSI reach 75 level which worked as a resistance zone. Focusing all the factors we might see some correction from the higher level. If index drop below 14070 level then only we can see weakness in the market.
  • Nifty  Put O I addition was seen at 14100 followed by 14000 which can act as short term support 
  • Nifty Call O I addition was seen at 14500 followed by 14400.  which can act as short term resistance.
  • Nifty Bank Put O I addition was seen at 29500 followed by 31000 which can act as short term support.
  • Nifty Bank Call O I addition was seen at 33500 followed by 32000 which can act as short term resistance.
RESEARCH REPORT
  • Indian shares closed higher on Friday to snap a two-day losing streak, with financials leading the surge, as global growth worries eased and the rupee strengthened on improved risk sentiment after the release of encouraging services sector data from China.
  • Sentiment also received a boost after China's commerce ministry said that China and the United States would hold vice ministerial level trade talks in Beijing on Jan 7-8.
  • The benchmark 30-share BSE Sensex ended the session up 181.39 points or 0.51 percent at 35,695.10, while the broader Nifty index rose by 55.10 points or 0.52 percent to finish at 10,727.35. Both the indexes ended the week down about 1 percent.
  • Nifty reclaim 10,900 levels in the first two session of last week, but failed to hold on to the momentum and slipped to make weekly low of 10,628 on Friday. The index closed the week with fall of 133 points at 10727.
  • Nifty is hovering between 100 DMA & 50 DMA for past 4 weeks to find direction. In last week’s trading nifty formed bearish candle, but with higher high and higher lows and On last day of week nifty took support and recovered from rising trend line which formed by the recent lows of 10334 and 10535 which indicated some buying on lower levels.
  • Friday NIFTY future was up 0.55% with increase in O I by 5.94%.
  • Put O I addition was seen at 10400 followed by 10700 and Call O I addition was seen at 10700 followed by 11200.
  • As per current option data Immediate Resistance is around 10900 & Major Resistance is around 11000.
  • As per current option data Immediate Support is around 10700 & Major Support is around 10500.
RESEARCH REPORT
  • Indian shares fell on Monday to extend losses from the previous session, as weak global cues on the back of political uncertainty in the U.S. dampened investor sentiment.
  • The benchmark BSE Sensex gave up early gains to end the session down 271.92 points or 0.76 percent at 35,470.15 in the holiday-shortened week, while the broader Nifty index dropped 90.50 points or 0.84 percent to 10,663.50.
  • Hindalco, Bajaj Auto, IOC, Hero MotoCorp and JSW Steel fell 3-5 percent in the Nifty pack, while Kotak Bank, Mahindra & Mahindra, Wipro, TCS and Infratel climbed 1-2 percent.
  • Crude oil futures tumbled to settle at their lowest level in about eighteen months on Monday, as concerns over excess supply and falling energy demand continued to push down prices. Crude oil futures for February ended down 6.7%, at $42.53 a barrel, the lowest settlement since mid 2017. In absolute terms, oil's decline today was the steepest in about three months.
  • The Dow plummeted 653  points or 2.9 percent to close below 22000. Nasdaq tumbled 140 points or 2.2 percent and the S&P 500 plunged 65 points or 2.7 percent.
  • Nifty opened on optimistic note on Monday where gap up opening of 26 was witnessed at 10780 levels. But market quickly pared early gain and slipped into red, following last week’s turmoil in US stocks and partial shutdown of US government. Overall index remained in selling pressure for entire session and close with loss of 90 points at 10663 levels.
  • Index in last two sessions has fallen by 314 points and by almost 3% from top of 10985 levels. On daily chart price has formed strong bearish candle and price has decisively slipped below 200 DMA levels which indicates bears has taken firm grip of market. Price is also trading in rising wedge pattern which is also bearish indicator. 
RESEARCH REPORT
  • The Indian stock market ended on an upbeat note on Wednesday, with investors indulging in hectic buying across the board, reacting positively to the results of assembly elections and the appointment of a new governor for the Reserve Bank of India. Rising optimism about U.S. and China agreeing on a trade deal before the 90-day truce period too contributed significantly to market's sharp rise.
  • BSE Sensex soared 629.06 points, or 1.79%, to 35,779.07, while the National Stock Exchange's Nifty50 jumped 188.45 points, or 1.79%, to close at 10,737.60.
  • In the currency market, the rupee weakened to 72.20 against the U.S. dollar before regaining some lost ground and edging up to 71.98, still down from previous close.
  • Mirroring strong buying metals, consumer discretionary, industrials, automobile, capital goods and realty shares, the respective sectoral indices moved up 2 to 4.1% today. Bank, oil, power and FMCG stocks too posted strong gains. Select stocks from healthcare and information technology sectors too gained significant ground in positive territory.
  • Hero Motocorp gained more than 7%, Indiabulls Housing Finance added nearly 7% and Bharti Airtel gained 6.7%. Yes Bank, Adani Ports, Tata Steel, UPL, Eicher Motors, Mahindra & Mahindra, Tata Motors, Bajaj Auto, IOC, ONGC and GAIL India all ended with gains ranging from 3% to 6%. Axis Bank, Vedanta, Larsen & Toubro, Cipla, Hindalco, Bajaj Finance, NTPC, Maruti Suzuki, Coal India and Hindustan Unilever also rose sharply.
  • Yesterday NIFTY future was up 1.91%  with  increase in O I by 0.88%.
  • Put O I addition was seen at 10600 followed by 10700 and  Call O I reduction was seen at 11000 followed by 10500.  
  • As per current option data Immediate Resistance is around 10800 & Major Resistance is around 11000.
  • As per current option data Immediate support is around 10600 & Major Support is around 10500.
RESEARCH REPORT
  • Indian shares rose sharply on Friday to broke a three-day losing streak. The benchmark 30-share BSE Sensex ended the session up 361.12 points or 1.02 percent at 35,673.25, while the broader Nifty index jumped 92.55 points or 0.87 percent to finish at 10,693.70.
  • Crude oil prices surged higher on Friday after OPEC and non-OPEC members reached an agreement to cut crude production next year. The proposed reduction of 1.2 million barrels per day, is much more than the anticipated cut of about 1 million barrels per day.
  • After Thursday's drastic stock market global sell-off on growth and trade fears, IMF chief Christine Lagarde allayed investor fears about an economic slowdown. Fears about recession appear to be overdone and the U.S. is not headed for an economic contraction in the near term, she said.
  • Kotak Mahindra Bank shares soared 8.8 percent after media reports suggested that Warren Buffett's Berkshire Hathaway is looking to invest between USD 4 billion and USD 6 billion in the private sector lender by buying promoter stake or through a preferential allotment.
  • Dr Reddy's Laboratories, Asian Paints, Infosys, UltraTech, Bajaj Auto, Bajaj Finance, Adani Ports and Bajaj Finserv surged 2-3 percent.
  • Software services firm HCL Technologies lost 5 percent after it agreed to buy certain software assets from IBM for $1.8 billion.
  • Friday NIFTY future was up 1.02%  with  increase in O I by 9%.
  • Put O I addition was seen at 10500 followed by 10300 and  Call O I addition was seen at 11200 followed by 11100.  
  • As per current option data Immediate Resistance is around 10900 & Major Resistance is around 11000.
  • As per current option data Immediate support is around 10500 & Major Support is around 10200.
RESEARCH REPORT
  • Indian shares fell on Tuesday, as a sharp recovery in oil prices, weakness in rupee and caution ahead of the results of crucial assembly election in five states due on December 11 prompted traders to unlock some profits after a six-day rally.
  • In addition, cues from Asia and Europe were negative as there was some confusion over how the U.S. and China will find common ground on a range of issues in the next three months.
  • The sharp pullback on Wall Street came as the yield on two-year notes rose above the yield on five-year notes, which is seen as an indicator of an upcoming economic slowdown.
  • The benchmark 30-share BSE Sensex ended the session down 106.69 points or 0.29 percent at 36,134.31 while the broader Nifty index dropped 14.25 points or 0.13 percent to 10,869.50.
  • IOC, Indiabulls Housing Finance, UPL, ONGC and BPCL climbed 2-3 percent in the Nifty pack, while SBI, HDFC, Grasim, Mahindra & Mahindra and Sun Pharma lost 1-3 percent.
  • The rupee was edging lower in the afternoon despite the dollar weakening broadly in international markets on expectations that the Federal Reserve would slow the pace of rate hikes after a December rise.
  • Brent crude prices were up 2.5 percent at $63.23 per barrel in European trade after climbing more than 5 percent in intraday trading on Monday amid Canada's production cuts and expected supply cuts from OPEC at a meeting in Vienna starting on Thursday.
  • Yesterday NIFTY future was down -0.15%  with  increase in O I by 3.68%.
  • Put O I addition was seen at 10800 followed by 10600 and  Call O I addition was seen at 10900 followed by 11200.  
  • As per current option data Immediate Resistance is around 11000 & Major Resistance is around 11200.
  • As per current option data Immediate support is around 10700 & Major Support is around 10500.
RESEARCH REPORT
  • Indian shares rose for a sixth consecutive session on Monday, with financials and commodity-related stocks pacing the gainers. While positive global cues helped underpin investor sentiment, the upside remained capped by weak GDP data released on Friday and a surge in oil prices after the U.S. and China announced a ceasefire in their tariffs war.
  • The benchmark 30-share BSE Sensex ended a choppy session higher by 46.70 points or 0.13 percent at 36,241, while the broader Nifty index rose by 7 points or 0.06 percent to 10,883.75.
  • Indiabulls Housing Finance jumped as much as 10 percent to extend gains for a third straight session.
  • Hindustan Unilever jumped 4.7 percent and GlaxoSmithKline Consumer Healthcare rallied 4.1 percent. Unilever said it would buy GlaxoSmithKline's health food and drinks portfolio in India, Bangladesh and 20 other predominantly Asian markets for around $3.8 billion.
  • GAIL, Vedanta, Hindustan Unilever and Yes Bank climbed 4-5 percent while Sun Pharma lost 7.5 percent after reports that market regulator SEBI plans to reopen the probe into the insider trading case against the company and its promoters. Zee Entertainment Enterprises, UPL, Mahindra & Mahindra and HPCL dropped 2-3 percent.
  • Yesterday NIFTY future was up 0.21%  with  increase in O I by 3.07%.
  • Put O I addition was seen at 10500 followed by 11000 and  Call O I addition was seen at 11500 followed by 11100.
  • As per current option data Immediate Resistance is around 11000 & Major Resistance is around 11200.
  • As per current option data Immediate support is around 10700 & Major Support is around 10500.
RESEARCH REPORT
  • Indian shares rose sharply on Thursday to extend gains for the fourth straight session as tumbling oil prices, fresh gains in the rupee and dovish comments from U.S. Federal Reserve Chairman Jerome Powell spurred short covering on the last session of November series derivative contracts.
  • The rupee surged by as much as 74 paise to touch 69.88 a dollar in the afternoon, buoyed by expectations that the Fed may pause raising interest rates next year.
  • Oil prices fell below $50 per barrel for the first time in over a year as rising crude stockpiles and fears of a slowdown in global economic growth continued to weigh on prices ahead of next week's OPEC meeting.
  • Investors also remained hopeful for a de-escalation in trade tensions between the U.S. and China at the G20 summit, though a substantive breakthrough is unlikely.
  • BSE Sensex jumped 453.46 points or 1.27 percent to 36,170.41 while the broader Nifty index ended up 129.85 points or 1.21 percent at 10,858.70.
  • BPCL, Dr Reddy's Laboratories, JSW Steel, IndusInd Bank, Hindalco, Bajaj Auto, Kotak Bank and Bajaj Finance climbed 3-4 percent in the Nifty pack, while Tech Mahindra, ONGC and HCL Technologies dropped 1-3 percent.
  • Yesterday NIFTY future was up 1.61%  with  decrease in O I by 24.34%.

  • Put O I addition was seen at 10700 followed by 10800 and  Call O I addition was seen at 10900 followed by 11200. 

  • As per current option data Immediate Resistance is around 11000 & Major Resistance is around 11200.

  • As per current option data Immediate support is around 10700 & Major Support is around 10500.

RESEARCH REPORT
  • Indian shares ended sharply higher on Monday as investors awaited the outcome of a crucial RBI board meeting expected to discuss issues ranging from MSME credit to the central bank's reserves. BSE Sensex climbed 317.72 points to end at over a six-week high of 35,774.88 as investors expected a positive outcome of the RBI meeting. Nifty index ended up by 81.20 points at 10,763.40.
  • The sell-off on Wall Street came amid lingering concerns about the outlook for the global economy along with uncertainty about the potential for a trade deal between the U.S. and China.
  • Crude oil prices moved higher on Monday with traders speculating on a reduction in output towards the end of this year.L ast week, Saudi Arabia had expressed the need for oil producers to cut output by 1 million barrels a day to reduce oil supply in 2019 due to a likely drop in demand for crude oil.
  • Vedanta, IndusInd Bank, Tata Motors and ITC rallied 2-3 percent. Financials came under heavy selling pressure, with SBI, ICICI Bank, Bajaj Finance and Indiabulls Housing Finance losing 1-3 percent. Yes Bank shares jumped as much as 7.8 percent after ICRA affirmed the bank's long-term ratings.
  • Yesterday NIFTY future was up 0.76%  with  increase in O I by 5.67%.
  • Put O I addition was seen at 10700 followed by 10500 and  Call O I reduction was seen at 10700 followed by 10600.  
  • As per current option data Immediate Resistance is around 10800 & Major Resistance is around 11000.
  • As per current option data Immediate support is around 10500 & Major Support is around 10200.
RESEARCH REPORT
  • Indian shares ended a bit lower on Monday as weak global cues prompted traders to book some profits after last week's strong rally. BSE Sensex ended the session down 60.73 points or 0.17 percent at 34,950.92, with strong macro data helping limit the downside. While Nifty index dropped 24.80 points or 0.24 percent to 10,528.20 after surging around 5 percent last week to halt a two-week losing streak.
  • India's private sector expanded at the fastest pace since July on broad-based growth across services and manufacturing, survey data from IHS Markit showed yesterday. The Nikkei composite output index improved from 51.6 in September to 53.0 in October, marking the strongest expansion in private sector activity since July. The Nikkei services PMI climbed to 52.2 from 50.9 a month ago.
  • Indian Oil Corp slumped 5.2 percent after its quarterly profit declined 12.2 percent, missing estimates by a wide margin. Rival BPCL tumbled 3.5 percent and HPCL lost 3 percent. State Bank of India jumped 3.8 percent as it returned to profitability after four quarters on improved asset quality. Punjab National Bank rallied 2.5 percent despite the bank posting a loss of Rs 4,532.35 crore for the September quarter on account of rising bad loans. Axis Bank advanced 2 percent after its quarterly profit surged 83 percent amid improvement in credit quality.
  • Yesterday NIFTY future was down 0.25%  with  increase in O I by 3.3%.

  • Put O I Reduction was seen at 10200 followed by 10000 and  Call O I addition was seen at 11000 followed by 10600. 

  • As per current option data Immediate Resistance is around 10700 & Major Resistance is around 11000. While Immediate support is around 10500 & Major Support is around 10200.

RESEARCH REPORT
  • Indian shares ended a choppy session modestly lower on Tuesday, with pharma and energy companies pacing the decliners, as investors fretted about an escalating trade dispute between the United States and China.
  • U.S. President Donald Trump said he thinks there will be "a great deal" with China on trade, but warned of more tariffs if talks next month fail to ease the trade war.
  • The benchmark 30-share BSE Sensex dropped 176.27 points or 0.52 percent to 33,891.13 after a volatile session of trade. The broader Nifty index ended down 52.45 points or 0.51 percent at 10,198.40.
  • Sun Pharma, Reliance Industries, Coal India, IOC, Cipla, BPCL, IndusInd Bank and HPCL fell 2-5 percent in the Nifty pack, while Dr Reddy's Laboratories, Grasim Industries, Zee Entertainment Enterprises and Tech Mahindra climbed 2-3 percent.
  • PSU lender Union Bank of India soared 8.6 percent after posting turnaround results in the second quarter on the back of lower provisioning. Just Dial jumped 11 percent on reporting a 29 percent increase in quarterly profit.
  • In Tuesday’s session Nifty opened on weaker note at 10239 levels and after negative start price managed to show some recovery and attended intraday high of 10285 levels. But by the end of the session Index gave up some of its previous day’s gain to settle with loss of 52 points at 10198 levels.

  • Expect index to remain in range of 10080 to 10330 level in short term. On downside if 10080 is breached Nifty could fall further towards lower band of falling channel. We advise trader to adopt cautious approach and maintain tight stop loss below 10000 levels.

RESEARCH REPORT