Nifty 17026.45 (-2.91%)
Sensex 57107.15 (-2.87%)
Nifty Bank 36025.5 (-3.58%)
Nifty IT 34606.1 (-1.97%)
Nifty Financial Services 17614.7 (-3.56%)
Adani Ports 717.15 (-5.94%)
Asian Paints 3143.10 (-0.04%)
Axis Bank 661.75 (-2.67%)
B P C L 376.85 (-5.81%)
Bajaj Auto 3334.60 (-1.68%)
Bajaj Finance 6807.05 (-4.47%)
Bajaj Finserv 16682.55 (-3.95%)
Bharti Airtel 738.75 (-3.45%)
Britannia Inds. 3555.30 (-0.51%)
Cipla 966.70 (7.42%)
Coal India 155.90 (-1.67%)
Divis Lab. 4937.80 (2.88%)
Dr Reddys Labs 4750.90 (3.47%)
Eicher Motors 2433.90 (-3.43%)
Grasim Inds 1690.10 (-4.34%)
H D F C 2741.70 (-4.40%)
HCL Technologies 1110.05 (-1.31%)
HDFC Bank 1489.90 (-2.36%)
HDFC Life Insur. 670.65 (-2.64%)
Hero Motocorp 2529.40 (-2.52%)
Hind. Unilever 2335.10 (-0.59%)
Hindalco Inds. 417.00 (-6.72%)
I O C L 120.95 (-3.74%)
ICICI Bank 722.20 (-3.84%)
IndusInd Bank 901.80 (-5.99%)
Infosys 1691.65 (-1.79%)
ITC 224.00 (-3.16%)
JSW Steel 628.65 (-7.67%)
Kotak Mah. Bank 1964.30 (-3.48%)
Larsen & Toubro 1778.15 (-3.88%)
M & M 853.75 (-4.20%)
Maruti Suzuki 7170.50 (-5.31%)
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NTPC 128.85 (-4.70%)
O N G C 147.10 (-5.16%)
Power Grid Corpn 202.00 (-1.10%)
Reliance Industr 2412.60 (-3.22%)
SBI Life Insuran 1130.35 (-2.51%)
Shree Cement 25945.80 (-2.72%)
St Bk of India 470.50 (-4.09%)
Sun Pharma.Inds. 767.30 (-1.99%)
Tata Consumer 766.70 (-5.09%)
Tata Motors 460.20 (-6.61%)
Tata Steel 1112.30 (-5.23%)
TCS 3446.85 (0.03%)
Tech Mahindra 1527.40 (-2.05%)
Titan Company 2292.30 (-4.40%)
UltraTech Cem. 7394.75 (-2.81%)
UPL 703.80 (-3.23%)
Wipro 621.45 (-2.40%)

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

Nifty F&O action for November 11 expiry shows 18,200 will act as a key resistance now.
by 5paisa Research Team 10/11/2021

Nifty F&O action for November 11 expiry shows 18,200 will act as a key resistance now.

The Indian equity market, despite closing in red, outperformed most of its Asian peers on November 10. Taking cues from the Asian and US markets, Nifty 50 opened with a gap down and slipped further in the first hour of trade. However, post that it started to gain and was trading in green at one point of time at 1410 hours before closing in red for the second consecutive day. At close, Nifty was down 0.15% or 27 points to 18017.2.

Activity in the F&O market for the weekly expiry on November 11, 2021, shows that 18,200 will continue as a strong resistance for the next trading session. The highest call option open interest (124,931) for Nifty 50 stood at a strike price of 18,200. In terms of the highest addition of open interest in the call options front, it was at 18,000 in the last trading session. A total of 26,790 open interest was added at this strike price. The next highest call option open interest stands at 18,100 where total open interest stood at 104,229.

In terms of put activity, the highest put writing was seen at strike price of 17800 (14,941 open interest added on November 10), followed by 17,750 (12171 open interest added on November 10), while there was put unwinding at strike price 17,300, followed by 17,000.

Highest total put open interest (79,410) stood at a strike price of 17,900. This is followed by a strike price of 17,800, which saw a total put option open interest of 78,874 contracts.

Following table shows the difference between call and put option at strike price near to max pain of 18000.

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

17,700.00  

6642  

58397  

51755  

17,800.00  

15634  

78874  

63240  

17,900.00  

21505  

79410  

57905  

18000  

83008  

69845  

-13163  

18,100.00  

104229  

17809  

-86420  

18,200.00  

124931  

5129  

-119802  

18,300.00  

92721  

2415  

-90306  

The Nifty 50 put call ratio (PCR) closed at 0.69 worse than 0.73 in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

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These smallcap stocks should be on your watchlist for tomorrow, November 11!

These smallcap stocks should be on your watchlist for tomorrow, November 11!
by 5paisa Research Team 10/11/2021

The BSE Sensex slipped by more than 80 points in the Wednesday trading session even as the small caps underperformed while mid-caps underperformed. The BSE Metal index was the worst-performing index on Wednesday. BSE Smallcap index closed marginally in red slipping by 0.01% or 3 points.

These smallcap stocks should be on your watchlist for tomorrow.

Inflame Appliances: The shares of Inflame Appliances closed at record highs on Wednesday. The shares were seen locked in the upper circuit on Wednesday after gaining 5%. Inflame Appliances shares will be in focus on Thursday as the stock has managed to close above the key resistance of Rs 301 odd per share.

Jain Irrigation: Jain Irrigation will be announcing the Q2FY22 results on November 13. Ahead of its earnings, huge buying was seen in Jain Irrigation shares. The shares of Jain Irrigation were locked in the upper circuit on Wednesday. Jain Irrigation shares will be in focus on Thursday, November 11.

Reliance Chemotex: The shares of Reliance Chemotex jumped higher by more than 14% on Wednesday. The stock has gained by more than 44% in one month alone while in one week the stock is up by 18%. Reliance Chemotex is in an intermediate uptrend, making higher highs and higher lows with rising volumes. The stock of Reliance Chemotex made a record high on Wednesday and promises to be in focus, in Thursday’s trading session.

White Marubozu Candlestick Pattern: The shares of Charms Industries, Dolfin Rubbers, TCFC Finance, United Credit, Shree Dinesh Mills, Aplab Ltd, TCI Industries and Jindal Poly Investment & Finance company managed to close at its day’s high thus forming a marubozu candlestick chart pattern. These trending stocks will be in focus on Thursday.

Brightcom Group: The shares of Brightcom Group (BCG) gained 5% on Wednesday and were seen locked in the Upper Circuit. BCG will be in focus on Thursday.

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Power Grid Q2 net profit inches up 9% but shares extend losses

by 5paisa Research Team 10/11/2021

Power Grid Corp of India Ltd (PGCIL) reported a 9.12% increase in its consolidated net profit for the second quarter ended September 30, helped by a rise in revenue and a drop in finance costs.

The government-owned power transmission behemoth said consolidated net profit rose to Rs 3,376.38 crore for the July-September period from Rs 3,094 crore a year earlier.

Consolidated net sales went up 7.74% to Rs 10,266.98 crore over the same period last year. 

The company reported a consolidated profit before tax of Rs 3,968.3 crore, a rise of 2% over the previous year’s second quarter numbers. Tax expenses fell to Rs 592 crore from Rs 795 crore, giving an extra lift to the bottom line.

PGCIL’s total expenses climbed to Rs 6,235 crore from Rs 5,986 crore, but finance costs fell to Rs 1,884.5 crore from Rs 2,003 crore a year earlier.

PGCIL is a maharatna company owned 51.34% by the central government, and is the biggest electric power transmission company in the country. The company reported a 5.5% rise in revenue from the transmission segment in the second quarter to Rs 10,054.26 crore. 

Shares of the company, which is part of the 30-stock BSE Sensex index, slipped 1.13% to end at Rs 184.50 apiece on the BSE. The shares are now down 12% since touching a one-year high on October 18.

Power Grid Q2: Other highlights

1) The capex for the second quarter was Rs 1,939 crore.

2) PGCIL capitalized assets worth Rs 7,633 crore in Q2. Its gross fixed assets stood at Rs 2,54,997 crore.

3) PGCIL added transmission lines of 2,100 ckm in length and 14,000 MVA in transmission capacity.

4) Its total transmission assets at the end of September were at 1,70,724 ckm.

5) The consultancy segment, although small, saw its revenue rise 75.12% on a year-on-year basis.

6) EBITDA stands at Rs 9,358.30 crore in Q2, up 7.04% from Rs 8,742.73 crore a year earlier.

Power Grid management commentary

The state-run company is an essential service provider, and so wasn’t impacted by the lockdowns imposed last year and this year to control the Covid-19 pandemic.

It said that it considered various internal and external information available to assess the impact of the pandemic on its financial results for the quarter and half year ended September 30 and concluded that there had been no material impact on its operations or profitability.

PGCIL also said that during the quarter it enhanced its inter-regional power transfer capacity by 5,700 MW with the commissioning of the Vindhyachal-Varanasi line and the Raigarh-Pugalur link.

With this enhancement, the inter-regional capacity of the national grid is now at 1,10,750 MW, it added.

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BTST/STBT Trading Tips for Today: 11th November, 2021

by 5paisa Research Team 10/11/2021

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. STBT : ADANIENT NOV FUT - Short

- Current Market Price: Rs. 1,653

- Stop Loss: Rs. 1,663

- Target 1: Rs. 1,640

- Target 2: Rs: 1,626
 

2. STBT : BALKRISIND NOV FUT - Short

- Current Market Price: Rs. 2,378

- Stop Loss: Rs. 2,392

- Target 1: Rs. 2,355

- Target 2: Rs. 2,335
 

3. STBT : HAVELLS NOV FUT - Short

- Current Market Price: Rs. 1,333

- Stop Loss: Rs. 1,345

- Target 1: Rs. 1,305

 

4. STBT : LAURUSLAB NOV FUT - Short

- Current Market Price: Rs. 460

- Stop Loss: Rs. 465

- Target 1: Rs. 450

- Target 2: Rs: 438

 

5. STBT : BHARATFORGE NOV FUT - Short

- Current Market Price: Rs. 782

- Stop Loss: Rs. 789

- Target 1: Rs. 767

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Chart Busters: Top trading set-ups to watch out on Thursday

Chart Busters: Top trading set-ups to watch out on Thursday
by 5paisa Research Team 11/11/2021

On Wednesday, the benchmark index Nifty was closed at 18017.20 level with a loss of 27.05 points or 0.15%. The price action of the day formed a small body bullish candle, carrying shadows on either side. The leading indicator, RSI has given a bearish crossover on the daily chart. The Indian Volatility Index (VIX), a gauge for the market’s short-term expectation of volatility, surged by 1.89% t to end at 16.30.

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

UPL: After registering the high of Rs 864.70, the stock has marked the sequence of lower tops and lower bottoms. The correction is halted near the 200-day EMA level. The stock has formed a strong base near long-term 200-day EMA and thereafter started its northward journey.

On Wednesday, the stock has given downward sloping trendline breakout on the daily chart. This breakout was confirmed by the 50-day average volume. Currently, the stock is trading above its short and long-term moving averages. The short-term 20-day EMA and 50-day EMA has started edging higher, which is a bullish sign. The leading indicator, 14-period RSI has surged above the 60 mark for the first time after 76 trading sessions. The momentum indicator MACD line has crossed above the signal line, which resulted in the histogram turning positive.

The technical evidence indicates a strong upside in the coming weeks. On the upside, the level of Rs 796 will be the major hurdle for the stock. While on the downside, the zone of Rs 740-735 will act as strong support for the stock.

Force Motors: Considering the daily chart, the stock has given a downward sloping trendline breakout along with robust volume. In addition, the stock has formed a sizeable bullish candle, which adds strength to the breakout.

From a technical standpoint, it is comfortably placed above its key moving averages i.e. over 11% and nearly 22% from 50-DMA & 200-DMA. The 10, 30, and 40-week averages are trending higher. These averages are in an ascending order, which suggests the trend is strong. The trend strength indicator, Average Directional Index (ADX), is above 21 and it is in rising mode, which indicates strength. The +DI is much above the -DI. This structure is indicative of the bullish strength in the stock.

Considering the above factors, we expect the stock to test levels of Rs 1700 followed by Rs 1750 in the medium term. On the downside, the 8-day EMA will act as immediate support for the stock, which is currently placed at Rs 1517.20 level.

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Stock to watch: A bullish engulfing pattern is formed in Inox Wind

Stock to watch: A bullish engulfing pattern is formed in Inox Wind
by 5paisa Research Team 11/11/2021

The shares of Inox wind gained by more than 3% in the Wednesday trading session to close at Rs 140.45 per share. The share price of Inox Wind jumped higher by more than 22% in one month.

On Wednesday a bullish engulfing pattern was formed with the stock closing almost at its day’s high. The positive closing and the bullish engulfing pattern in Inox Wind indicates bullishness in the counter. The RSI is above 70 and the stock has risen with a spurt in volume on Wednesday.

The technical indicators point towards upside movement in the counter.

Inox winds is struggling to report profits even though it has managed to narrow its losses as per the latest quarterly results.

Recently, the company has announced that its arm has inked a share purchase agreement to sell its total equity stake in six firms to a wholly-owned subsidiary named Resco Global Wind Services.

The shares of Inox Wind have jumped higher by more than 288% in one year.

The energy company shares have been outperforming on bourses lately. There is a demand for clean energy across geographies and the sentiment is positive for clean energy providers. Inox Wind is the clear beneficiary of such positive change in the sentiment.

BSE Power index is up by over 88% in past one year when compared to the 39% gains in the BSE Sensex in a similar period.

Some of the other stocks (BSE 500) that formed a bullish engulfing pattern on Wednesday are Grindwell Norton, Sadbhav Engineering, Schaeffler India, Repco Homes, APL Apollo Tubes, DCB Bank, Century Textiles, Muthoot Finance, Vedanta, LIC Housing Finance, Indus Towers, Tech Mahindra and Mindtree.

From the smallcap space, we have Precision Wires, Deep Polymers, Cineline India, Sequent Scientific, Hindustan Tin Works, Renuka Sugars and Dhampur Sugar Mills forming a bullish engulfing pattern. These shares along with Inox Wind may be viewed with a bullish perspective in the Thursday trading session.

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