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

F&O Cues: Key support and resistance levels for Nifty 50
by 5paisa Research Team 15/11/2021

Today the Nifty F&O action for November 18 expiry shows resistance has come down to 18,200. 

Indian equity market after showing a promising upside on Friday (November 12), failed to maintain its momentum. Nifty 50 after witnessing a gap-up opening, failed to build on that and lost all the gain in today’s trade and saw a flat closing in today’s trade. The advance-decline ratio was in favour of decline. Overall, we see there is a lack of enthusiasm among investors as they are not very clear about the market direction.

Activity in the F&O market for the weekly expiry on November 18, 2021, shows that after today’s trade, resistance has moved from 18,500 to 18,200 now. The highest call option open interest (106646) 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 18,200 in the last trading session. A total of 57,012 open interest was added at this strike price. The next highest call option open interest stands at 18,500 where total open interest stood at 105,486.

In terms of put activity, the highest put writing was seen at a strike price of 18200 (27,124 open interest added on November 15), followed by 18,100 (19,771 open interest added on November 15). The highest put open interest unwinding was seen at a strike price of 18,000 (23,640 open interest shed on November 15). This means traders are not sure of holding the 18,000 mark for this expiry.

Highest total put open interest (81156) stood at a strike price of 18,000. This is followed by a strike price of 17,500, which saw a total put option open interest of 74,599 contracts.

Following table shows the difference between call and put options at strike price near to max pain of 18100.

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

17,800.00  

7310  

54450  

47140  

17,900.00  

12002  

66660  

54658  

18,000.00  

33782  

81156  

47374  

18100  

67134  

49752  

-17382  

18,200.00  

106646  

35937  

-70709  

18,300.00  

90639  

6789  

-83850  

18,400.00  

65223  

2058  

-63165  

The Nifty 50 put call ratio (PCR) closed at 0.8 compared to 1.05  in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

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

Chart Busters: Top trading set-ups to watch out for Tuesday
by 5paisa Research Team 16/11/2021

On Monday, the benchmark index, Nifty has opened with an upside gap and marked the high of 18210.15 level. Thereafter, the index has lost nearly 120 points from the day high. The price action has formed a bearish candle with an upper shadow. The advance-decline ratio was in the favour of decliners.

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

Finolex Cables: The stock has formed a doji candlestick pattern as of July 14, 2021, and thereafter witnessed correction. During the correction, the stock has formed lower tops and almost similar bottoms. The correction is halted in between 50% to 61.8% Fibonacci retracement level of its prior upward move and it coincides with the 34-week EMA level.

On Monday, the stock has given a downward sloping trendline resistance breakout on the daily chart. This breakout was confirmed by nearly 10 times of 50-days average volume, indicating strong buying interest by market participants. The 50-days average volume was 2.49 lakh while on Monday stock has registered a total volume of 24.79 lakh. Additionally, the stock has formed an opening bullish marubozu candlestick pattern on breakout day, which indicates extreme bullishness.

The stock's Relative Strength Index (RSI) has reached its highest value in the last 14-days, which is bullish. Also, it has surged above its prior swing high. The weekly RSI has also surged above the 60 mark.
 

Technically, all the factors are currently aligned in support of the bulls. Hence, we would advise the traders to be with a bullish bias. On the upside, the prior swing high of Rs 557.70 will act as resistance for the stock.

Pearl Global Industries: The stock has formed a long-legged doji candlestick pattern as of August 03, 2021, and thereafter witnessed correction along with low volume. The correction is halted near the 61.8% Fibonacci retracement level of its prior upward move (Rs 174.10-Rs 474.70) and it coincides with the 20-day EMA level. Since the last 55 trading sessions, the stock has formed a strong base near the support zone. During the formation of the base, the volume was mostly below the 50-day average volume.

On Monday, the stock has given downward sloping trendline breakout on the daily chart. The robust volume on breakout day is portraying an encouraging picture. Mansfield Relative Strength indicator is just bouncing from the zero line and showing the outperformance compared to the broader market index i.e. Nifty-500.

Along with this breakout, the stock has surged above its short-term moving averages, i.e. 20-day EMA and 50-day EMA. The short-term moving averages are started edging higher, which is a bullish sign. The leading indicator, 14-period daily RSI surged above the 60 mark for the first time after 65 trading sessions. On the weekly chart, the RSI has given a positive crossover.

Based on the above observations, we expect the stock to continue its upward movement and test levels of Rs 356 followed by Rs 379 in the medium-term. On the downside, the 20-day EMA will act as strong support for the stock.

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There’s no stopping in this multibagger smallcap pharmaceutical stock!

There’s no stopping in this multibagger smallcap pharmaceutical stock!
by 5paisa Research Team 16/11/2021

Lyka Labs maintains high quality and GMP/GLP standards in the manufacturing and testing of its products. The company manufactures pharmaceutical products such as Dry Powder, Liquid and Lyophilised Injections and external preparations and cosmetics covering various therapeutic areas. The company is also engaged in manufacturing on a P2P basis and job work basis for Covid 19 medicines.

The company’s R&D centre is engaged in the development of new formulations and has successfully developed several products in the following product categories: 1. Injectables- Liquid Injections, Lyophilised Injections in anti-bacterial, antifungal, NSAIDS, Proton Pump Inhibitors and Anaesthetics. 2. Topical preparations: Ointments/Creams and Lotions. 

The company is also modernizing its existing manufacturing facilities to improve throughput and reduce manufacturing costs thereby increasing profitability.

To meet the increase in demand for lyophilised products the company has embarked on an expansion project of its Lyophilization Plant at its Ankleshwar factory. This project is likely to be completed in 9-12 months with a 50% capacity enhancement for lyophilisation. The company has received permission to manufacture and marketing of Liposomal Amphotericin B Injection 50 mg/vial from the Government of India, Directorate General of Health Services, New Delhi.

Interestingly, the stock has lately caught the eyes of market participants and it is quite evident from the price movement. The stock is locked at an upper circuit at the time of writing this article and it has marked a fresh 52-week high on Tuesday.

The stock has recorded over a 10-fold jump in its price from the March 2020 lows to the high of Tuesday. On an MTD basis also it has outperformed the headline indices and jumped more than 20%. The stock has a Price Strength (RS Rating) of 94 which is great indicating the outperformance as compared to other stocks. However, despite this outperformance, what is more intriguing is the fact that the stock has recently witnessed a breakout of the stage-4 consolidation pattern, the depth of which is nearly 35%.

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Explained: All you want to know about the RBI’s RDS scheme for retail investors

by 5paisa Research Team 16/11/2021

Last week, Prime Minister Narendra Modi inaugurated the so-called Retail Direct Scheme (RDS) of the Reserve Bank of India (RBI) which allows retail investors to invest in government securities, or G-secs. 

The new scheme will let common people invest in G-Secs by directly opening an account with the RBI. This can be done via a new platform called the RBI-RD, which the central bank has launched. 

What sort of securities will the new platform allow people to invest in?

The RBI-RD platform will let people invest and trade in government of India treasury bills (T-bills), government of India dated securities, sovereign gold bonds and state development loans. 

What is the USP of the new scheme? 

The scheme not only offers a simple and easy process to invest in G-Secs, but also puts India in an exclusive club of nations that actually allow democratisation of government debt.

Until now, government paper has been accessible only to financial institutions which trade and invest in high volumes and have extremely high minimum threshold limits of investment.  

So, how can a retail investor actually invest in G-Secs via the new scheme?

To invest in G-Secs, a retail investor needs to open a Gilt account on the RBI-RD portal. This portal also allows people to bid in primary auctions and trade securities in the secondary market. 

How much would the new scheme cost an investor? How can money be remitted?

The new scheme allows people to invest free of charge. Customers can pay for buying G-Secs via internet banking and UPI. 

Will investors get a helpline?

Yes, investors can avail of support via the online portal, on email and on phone. 

But couldn’t small retail investors access G-Secs before this scheme came into vogue?

They could, but not directly. Such securities could only be bought via gilt mutual funds or G-Sec dealers, who participated in the central bank’s primary market auction every Friday. Moreover, existing securities could be traded on the National Stock Exchange and the Bombay Stock Exchange. 

How could the RBI attract more people to avail of the new scheme?

Experts say that one way of attracting new people to participate in the new scheme is by offering tax sops. This, they say could also attract global fintech companies who would want to provide such services in India. 

“If retail taxation of direct debt investments is brought in line with investing through debt funds, we should see some retail interest emerging,” a report by The Economic Times newspaper cited Ananth Narayan, associate professor at SP Jain Institute of Management and Research as saying.

“This could, in turn, attract intermediaries including global and local fintech companies. Also currently, small savings schemes offer much higher rates than GoI securities,” Narayan said.

What are the key challenges facing the new scheme?

For one, retail investors are unaware of G-Secs and how they work, and how investing in such instruments could be beneficial for them. Investors are also not aware of which type of G-Sec they should choose. This is especially true for high-income investors, as the interest on these instruments is fully taxable, as against debt funds like corporate bond funds and gilt funds where an investor can take the benefit of lower tax rates and indexation.  

Another possible problem could be low liquidity, which could hamper trades. The central bank may need to infuse some much-needed liquidity into these instruments, which are otherwise some of the safest vehicles for parking money and taking out steady returns over long periods of time. 

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Stock in focus: Why is TV Today Network attracting the attention of market participants?

Stock in focus: Why is TV Today Network attracting the attention of market participants?
by 5paisa Research Team 16/11/2021

A high growth media company, TV Today Network is posting good profits every year.

TV Today Network Limited is a media and entertainment company engaged in television programming, radio broadcasting and broadcasting activities This media company has a market cap of Rs 2305 crore and is a high growth company posting good profits every year. In the last five years, revenue has grown yearly at 15.72% vs the industry average of 8.85%. This certainly shows that the company is on the right track with its business performance and is quite evident with its movement in the stock price. Major stake of the company has been held with its promoters (58.45%) while the FII hold 6%. Around 20% of the portion is held by retail investors.

The stock has performed exceptionally well by delivering a whopping 70.11% returns YTD while its three-month performance stands at 28.86%. This shows that the stock is performing strongly for quite some time. The company recently posted its quarterly results which were good and the company management expects better performance in times to come.

The stock has been consolidating for many months until the last week, where it recorded a resolute breakout of stage-2 cup pattern and thereafter, it is seen moving northwards. The volumes have risen since the previous week indicating larger participation in the direction of the trend. The stock is trading above all key moving averages and the RSI, too, is going strong at 85. The positive directional movement (+DMI) is well above the -DMI and the difference is consistently increasing, which shows strong trend strength in the stock. The share price has zoomed by 12% in today’s trading session and is currently trading at its 52-week high.

With increasing volume and the strength, it possesses, we might see the stock testing levels of Rs 500 in times to come, as it is the measuring implication of the cup pattern breakout. The stock looks technically strong on all fronts and fundamentally sound. TV Today Network is certainly an attractive bet and traders shouldn’t miss the opportunity in this stock.

 

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MF Update: October 2021 AUM stands at Rs 36.68 lakh crore

MF Update: October 2021 AUM stands at Rs 36.68 lakh crore
by 5paisa Research Team 16/11/2021

Domestic mutual fund AUM has remained at almost the same level for the last two months.


The asset under management (AUM) of the domestic mutual fund industry has declined by 0.14 % on monthly basis to Rs 36.68 lakh crore for the month of October 2021. Debt dedicated fund for the month of October 2021, saw net inflows to the tune of Rs 12,984.8 crore after witnessing an outflow of Rs 63,910 crore in the preceding month. Overnight fund and floater funds saw a major inflow in the month of October 2021 while liquid funds and short duration funds saw net outflows in October 2021.

Hybrid funds saw an increase of 2.76% in their AUM on a sequential basis in October 2021. Hybrid funds saw net inflows to the tune of Rs 10,437.11 crore and within hybrid funds, it was Dynamic Asset Allocation/Balanced Advantage Fund that saw major inflows to the tune of Rs 11,219 crore. Passively managed funds such as ETF and index funds continued to see good traction and for the month of October 2021, and saw net inflows of Rs 10,758.85 crore.

For equity-oriented schemes, AUM increased by 1.32% on the month on month basis. All the categories of equity MF saw an inflow except for the ELSS and value fund. The net inflow has increased to Rs 5214 crore in October 2021 compared to an inflow of Rs 8677 crore in the month of September 2021. At the end of October 2021, the total AUM of equity-oriented funds was at Rs 12.96 lakh crore compared to Rs 12.79 lakh crore at the end of September 2021.

Particulars (Rs Cr)  

Sep-21  

Oct-21  

Change  

Total AUM  

36,73,893.13  

36,68,933.28  

-0.14%  

Equity Oriented Schemes  

12,79,647.20  

12,96,559.44  

1.32%  

Debt Oriented Schemes  

14,15,416.61  

14,31,330.07  

1.12%  

Hybrid Schemes  

4,50,165.06  

4,62,611.35  

2.76%  

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