Nifty 17395.2 (-0.04%)
Sensex 58610.13 (0.25%)
Nifty Bank 36634.25 (0.35%)
Nifty IT 36241.2 (0.23%)
Nifty Financial Services 18078.2 (0.53%)
Adani Ports 738.40 (-0.09%)
Asian Paints 3154.70 (-0.81%)
Axis Bank 680.70 (0.68%)
B P C L 386.25 (1.95%)
Bajaj Auto 3317.15 (-0.34%)
Bajaj Finance 7150.55 (-0.42%)
Bajaj Finserv 17726.85 (-0.18%)
Bharti Airtel 721.85 (-1.46%)
Britannia Inds. 3564.00 (-0.41%)
Cipla 912.60 (-0.94%)
Coal India 159.00 (-0.19%)
Divis Lab. 4733.30 (-0.92%)
Dr Reddys Labs 4614.00 (-1.05%)
Eicher Motors 2482.75 (1.27%)
Grasim Inds 1726.05 (0.13%)
H D F C 2796.90 (-0.39%)
HCL Technologies 1177.30 (-0.62%)
HDFC Bank 1528.45 (0.18%)
HDFC Life Insur. 701.55 (-0.53%)
Hero Motocorp 2476.35 (0.15%)
Hind. Unilever 2374.15 (-0.38%)
Hindalco Inds. 428.85 (-0.75%)
I O C L 121.80 (0.95%)
ICICI Bank 722.90 (0.07%)
IndusInd Bank 946.75 (0.13%)
Infosys 1767.85 (1.12%)
ITC 223.90 (-0.69%)
JSW Steel 645.50 (-0.19%)
Kotak Mah. Bank 1978.85 (0.74%)
Larsen & Toubro 1835.00 (2.56%)
M & M 847.85 (-0.20%)
Maruti Suzuki 7271.70 (-0.73%)
Nestle India 19219.80 (-1.45%)
NTPC 128.75 (0.04%)
O N G C 145.15 (0.80%)
Power Grid Corpn 214.70 (0.09%)
Reliance Industr 2463.25 (-0.79%)
SBI Life Insuran 1173.85 (-1.20%)
Shree Cement 26217.95 (-0.27%)
St Bk of India 478.10 (0.23%)
Sun Pharma.Inds. 758.30 (-1.04%)
Tata Consumer 769.65 (-0.47%)
Tata Motors 478.50 (-0.13%)
Tata Steel 1108.80 (-0.32%)
TCS 3639.65 (-0.09%)
Tech Mahindra 1622.05 (-0.47%)
Titan Company 2377.00 (-0.40%)
UltraTech Cem. 7352.45 (0.40%)
UPL 705.90 (1.10%)
Wipro 643.55 (-0.50%)

BTST/STBT Trading Tips for Today: 02nd November, 2021

BTST/STBT Trading Tips for Today: 02nd November, 2021
by 5paisa Research Team 02/11/2021

5paisa analysts bring the best intraday ideas, short-term ideas and long-term ideas for you. In the morning we provide best momentum stocks to buy today, while in the last trading hour we provide Buy Today Sell Tomorrow (BTST) and Sell Today Buy Tomorrow (STBT) ideas.

BTST/STBT Trading Ideas for Today

1. BTST : BANKBARODA NOV FUT

- Current Market Price: Rs. 103

- Stop Loss: Rs. 101

- Target 1: Rs. 108
 

2. STBT : RAMCOCEM NOV FUT

- Current Market Price: Rs. 1,073

- Stop Loss: Rs. 1,090

- Target 1: Rs. 1,037
 

3. BTST : DLF NOV FUT

- Current Market Price: Rs. 428

- Stop Loss: Rs. 425

- Target 1: Rs. 436
 

4. BTST : TVSMOTOR NOV FUT

- Current Market Price: Rs. 696

- Stop Loss: Rs. 691

- Target 1: Rs. 705

- Targer 2: Rs. 712

 

5. BTST : NAVINFLUOR NOV FUT

- Current Market Price: Rs. 3,240

- Stop Loss: Rs. 3,395

- Target 1: Rs. 3,465

- Target 2: Rs. 3,510

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Chart Busters: Top trading set-ups to watch out for Wednesday

Chart Busters: Top trading set-ups to watch out for Wednesday
by 5paisa Research Team 03/11/2021

The benchmark index Nifty has resisted near the 8-day EMA level and witnessed correction. From the day’s high, the index has lost 123 points and ended the session at 17888.95 level with the loss of 40.70 points or 0.23%. The Nifty Midcap 100 and Nifty Smallcap 100 has outperformed the benchmark indices. The Nifty Realty has gained over 3% and Nifty PSU Bank has gained 2.37%. The advance-decline ratio was in the favour of advancers for the second consecutive trading session.

Here are the top trading set-ups to watch out for Wednesday.

Aditya Birla Fashion and Retail: After registering the high of Rs 276.15, the stock has witnessed minor throwback along with low volume. The throwback is halted near the 38.2% Fibonacci retracement level of its prior upward move and it coincides with the 20-day EMA level. On Tuesday, the stock has given cup pattern breakout along with robust volume. The length of the cup with handle pattern was of 13-days and the depth of the pattern was over 12%.

The stock is clearly in an uptrend as it is marking higher tops and higher bottoms. All the moving averages based on trade set-ups are showing a bullish strength in the stock. Daryl Guppy’s multiple moving averages is suggesting a bullish strength in the stock. Further, now the stock is meeting Mark Minervini’s trend template rules. These two set-ups are giving a clear uptrend picture in the stock.

Momentum indicators and oscillators are also supporting the overall bullish chart structure. The daily RSI is above 70 and it is in rising mode. The trend strength indicator, Average Directional Index (ADX), is above 36, which indicates strength. The +DI is much above the -DI. This structure is indicative of the bullish strength in the stock.

In a nutshell, the stock has registered a bullish pattern breakout along with volume confirmation. On the upside, the target will place at Rs 306 level. On the downside, the 8-day EMA will act as support for the stock, which is currently placed at Rs 266 level.

Orient Electric: Considering the daily chart, the stock has given a breakout of symmetrical pattern. Further, on breakout day the volume was expanded by 7 times of 50-days average volume, which indicates important buying interest. The 50-days average volume was 4.33 lakh while today the stock has registered a total volume of 30.58 lakh. In addition, the stock has formed an opening bullish Marubozu candlestick pattern on breakout day, which indicates extreme bullishness.

Currently, the stock is trading above its short and long-term moving averages. These averages are edging higher. The stock's Relative Strength Index (RSI) has reached its highest value in the last 14-days, which is bullish. Also, it has managed to close above its prior swing high. The MACD is above the zero line and the signal line. The MACD histogram suggests bullish momentum. And most importantly, the MACD line crossed the prior swing highs.

Based on the above observations, we expect the stock to continue its upward movement and test levels of Rs 417 followed by Rs 430 in the short term.

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F&O Cues: Key support & resistance levels for Nifty 50

F&O Cues: Key support & resistance levels for Nifty 50
by 5paisa Research Team 03/11/2021

For trade on November 3, Nifty F&O action shows 17,500 will act as key support while 18,000 will now be a strong resistance.

Nifty after showing a spectacular gain on Monday’s trading session cooled off on Tuesday’s trade. It closed 40 points lower in yesterday’s trade. Nevertheless, the broader market and banking sector outperformed as Nifty Midcap was up by 0.83% while the banking name such as RBL gained in double-digit and overall banking index was up by 0.44%. Nifty 50 opened on a positive note yesterday, however soon it fell in the early part of the trade and continued sideways for the remaining part of the day.

Activity on the F&O market for the weekly expiry on November 3, 2021, shows 18,000 will now act as strong resistance. The highest call option open interest (1,90,549) stood at this strike price. It shed 64552 contracts in yesterday’s trade which shows that call writers are nearly sure that the market will close below this level in today’s trade. The next highest call option open interest stands at 18,200 where total open interest stood at 1,38,200. Almost 40,000 open interest was added at a strike price of 18,200.

In terms of put activity that will give a sense of support, the highest put writing was seen at a strike price of 17500 (74,680 contracts added on November 02), followed by 17,700 (68,987 contracts added on November 01), while there was put unwinding at strike price 16800 (20554 contracts shed), followed by 17,800 (15,821 contracts shed).

Highest total put open interest (74,680) stood at a strike price of 17,500. This is followed by a strike price of 17,700, which saw a total put option open interest of 68,987 contracts.

Following table shows the difference between call and put options at a strike price near to max pain of 17900.
 

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

17,600.00  

4321  

59253  

54932  

17,700.00  

17354  

68987  

51633  

17,800.00  

26686  

67956  

41270  

17900  

62572  

48322  

-14250  

18,000.00  

190549  

45156  

-145393  

18,100.00  

105776  

5228  

-100548  

18,200.00  

138200  

6957  

-131243  

The Nifty 50 put call ratio (PCR) closed at 0.55 worse than 0.72 in the last trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish. 

Following table shows the participant wise action of key players on the index options front.

   

Index Put Options  

Client Type  

Change of OI*  

% Change of OI*  

Nov 02 2021  

Nov 01 2021  

Oct 29 2021  

Client  

-14962  

-4.93%  

-318531  

-303569  

-335526  

Pro  

-4197  

-7.78%  

49755  

53952  

84353  

DII  

2000  

4.88%  

43014  

41014  

37014  

FII  

17159  

8.23%  

225761  

208602  

214159  

*Change from Previous Day  

   

   

   

   

   

   

   

Index Call Options  

Client Type  

Change of OI*  

% Change of OI*  

Nov 02 2021  

Nov 01 2021  

Oct 29 2021  

Client  

140467  

1666.28%  

148897  

8430  

157890  

Pro  

-114613  

-141.39%  

-195673  

-81060  

-188121  

DII  

0  

0.00%  

401  

401  

401  

FII  

-25853  

-35.79%  

46376  

72229  

29830  

*Change from Previous Day  

   

   

   

   

   

      

Net Change in Open Interest  

Client Type  

Change of OI*  

% Change of OI*  

Nov 02 2021  

Nov 01 2021  

Oct 29 2021  

Client  

155429  

49.82%  

467428  

311999  

493416  

Pro  

-110416  

-81.78%  

-245428  

-135012  

-272474  

DII  

-2000  

-4.92%  

-42613  

-40613  

-36613  

FII  

-43012  

-31.54%  

-179385  

-136373  

-184329  

*Change from Previous Day  

   

   

   

   

   

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Behold the story of India’s richest steel tycoon: Lakshmi Niwas Mittal

Behold the story of India’s richest steel tycoon: Lakshmi Niwas Mittal
by 5paisa Research Team 03/11/2021

The visionary industrialist who changed the face of the Indian steel business.

Widely recognized as the king of steel, Lakshmi Niwas Mittal is currently the sixth richest person in India. According to Forbes real-time net worth check, Mittal’s net worth stood over Rs 1,440 billion. Lakshmi Mittal is currently based in the UK but retains Indian citizenship.

The beginning of a long journey

From being born in a middle-class family of Rajasthan, to being one of the richest persons in India, the life story of Lakshmi Mittal has been very influential. His father, Mohanlal Mittal was a partner in a small steel business based in Kolkata. After graduation from St Xaviers, Kolkata, he joined hands with his father’s business. In those times, India had heavy government intervention in the steel sector. Laxmi Mittal, then at the age of 26, started his first steel factory PT Ispat Indo in Indonesia, as the steel business could be operated smoothly and lucratively there. Eventually, it turned out to be a great success.

Towards becoming King

After a decade of success in Indonesia, the visionary industrialist went on acquiring several steel companies across the US, Europe, South Africa to create a global mark. His basic strategy was to acquire loss-making companies and make a turnaround. He formed Mittal Steel in 2004, after the merging of various companies which resulted in the company being the largest steelmaker by output in the world, the status which he still enjoys. In 2005, he became the third richest person in the world. In 2006, the company merged with France based Arcelor, a steel giant, to form ArcelorMittal which is listed on NYSE.

In January 2021, he relieved himself of the CEO position which he passed on to his son Aditya Mittal but remains executive chairman of ArcelorMittal. 

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HDFC Life Insurance gets CCI nod for acquiring Exide Life Insurance

HDFC Life Insurance gets CCI nod for acquiring Exide Life Insurance
by 5paisa Research Team 03/11/2021

The acquisition is seen as a landmark transaction in the Indian life insurance space.

Competition Commission of India (CCI) approved HDFC Life Insurance's acquisition of Exide Life Insurance on Monday, November 2, 2021. After completion of the share acquisition, Exide Life (which will be a wholly-owned subsidiary of HDFC Life) is proposed to be merged with HDFC Life, the regulator said in the press release.

The approval by CCI comes almost two months after the Board of HDFC Life Insurance approved the acquisition of 100% share capital of Exide Life Insurance Company. The proposed acquisition is for a total consideration of Rs 6687 crore of which Rs 726 crore will be payable in cash and the balance by way of issue of 8,70,22,222 equity shares of the company at Rs 685 per share to Exide Industries Limited (holding company of the Target). The proposed issue will be by way of a preferential allotment basis.

The scheme is expected to accelerate the growth of the Agency business of HDFC Life. Exide Life complements HDFC Life’s geographical presence and has a strong foothold in South India, especially in Tier 2 and 3 towns, thus providing access to a wider market. It is also expected to add 40% to the HDFC Life Agency by adding 36700 plus agents base as of June 30, 2021.

The acquisition will augment the existing embedded value of HDFC Life by approximately 10%. The embedded value of Exide Life, as of June 30, 2021, is Rs 2,711 crore and has been reviewed by Willis Towers Watson Actuarial Advisory LLP, said the acquirer in its exchange filing. The combined embedded value of the Merged Entity will be Rs 30,042 crore (as of June 30, 2021).

HDFC Life is a leading long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment and Health. It commands a private market share of 15.5% for the weighted received premium, while Exide Life Insurance Ltd, an unlisted entity enjoys a market share of 1.3%.

The shares of HDFC Life Insurance is trading at Rs 691.45 with a loss of 0.22% today at 11.53 am.

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5 Stocks to Buy Today: November 03, 2021

5 Stocks to Buy Today: November 03, 2021
by 5paisa Research Team 03/11/2021

Every morning our analysts scan through the markets universe and chose the best momentum stocks to buy today. The stocks are recommended from a wider list of momentum stocks and only the best ones make it to the top 5 list. We also update on the performance of earlier recommendation every morning to help you with your trading journey. Read on to know the momentum stocks to buy today. The average holding period could be between 7-10 days on average.

List of 5 Stocks to Buy Today November 03

1. Prestige Estates (PRESTIGE)

Prestige Estates Stock Details for Today

- Current Market Price: Rs. 464

- Stop Loss: Rs. 451

- Target 1: Rs. 479

- Target 2: Rs. 495

- Holding Period: One week

5paisa Recommendation: Our technical experts see further buying expected in this stock hence making this stock best stock to buy.

 

2. Sobha Ltd (SOBHA)

Sobha Ltd Stock Details for Today: 

- Current Market Price: Rs. 867

- Stop Loss: Rs. 845

- Target 1: Rs. 890

- Target 2: Rs. 935

- Holding Period: 1 week

5paisa Recommendation: Positive momentum in stock is expected and thus making this stock as one of the best stocks to buy today.

 

3. Blue Star (BLUESTARCO)

Blue Star Stock Details for Today: 

- Current Market Price: Rs. 1,032

- Stop Loss: Rs. 1,000

- Target 1: Rs. 1,070

- Target 2: Rs. 1,120

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see positive chart in this stock hence making this stock best stock to buy.

 

4. Federal Bank (FEDERALBNK)

Federal Bank Stock Details for Today: 

- Current Market Price: Rs. 102

- Stop Loss: Rs. 99

- Target 1: Rs. 105

- Target 2: Rs. 112

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see further buying expected in this stock hence making this stock best stock to buy.

 

5. Century Plyboards (CENTURYPLY)

Century Plyboards Stock Details for Today: 

- Current Market Price: Rs. 595

- Stop Loss: Rs. 580

- Target 1: Rs. 611

- Target 1: Rs. 640

- Holding Period: 1 week

5paisa Recommendation: Positive momentum in stock is expected and thus making this stock as one of the best stocks to buy today.

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