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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 28/10/2021

The level of 18,000 will act as key support while 18,300 will be a strong resistance.

In yesterday’s trade, the frontline equity indices lost some of the momentum gained on 26th October. The Nifty 50 opened with a positive note on October 27, however, it gave up all its gain after sell-off in the market in the second half of the day. By the end of the day, it was down by 0.31%.

Today is also the monthly options expiry day. Looking at yesterday’s trading action in the F&O market, it seems that the market is likely to close between 18,100 and 18,300 in today’s trade. The highest put writing was seen at strike price of 17950 (11,148 contracts added on October 27), followed by 18,050 (6458 contracts added on October 27), while there was put unwinding at strike price 17,000 (10551 contracts shed), followed by 17,400 (10546 contracts shed).

Highest total put open interest of 83,880 contracts stood at strike price 18,000, which will a strong support for the market in today’s trade. This is followed by strike price 18200, which saw a total put option of 79,932 contracts, while strike price 17,800 has 61,339 contracts in open interest.

In terms of overall open interest on the call option side, maximum open interest stood at a strike price of 18,500, which will act as a strong resistance. Total call open interest of 1,43,705 contracts stood at a strike price of 18,500. Aggressive call writing was seen at strike prices of 18,300 and 18,350, which will act as a first resistance level. Total open interest at the strike price of 18,300 stood at 1,39,864.

Following table shows the difference between call and put option at strike price near to max pain of 18200.

 

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

17,900.00  

9019  

53653  

44634  

18,000.00  

21648  

83880  

62232  

18,100.00  

25256  

56507  

31251  

18200  

102076  

79932  

-22144  

18,300.00  

139864  

38895  

-100969  

18,400.00  

109926  

16672  

-93254  

18,500.00  

143705  

25801  

-117904  

The Nifty 50 put call ratio (PCR) closed at 0.0.68. 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*  

Oct 27 2021  

Oct 26 2021  

Oct 25 2021  

Client  

-84268  

32.18%  

-346093  

-261825  

-286667  

Pro  

58420  

-110.80%  

5695  

-52725  

-35095  

DII  

600  

0.93%  

64790  

64190  

64190  

FII  

25247  

10.08%  

275607  

250360  

257572  

*Change from Previous Day  

   

   

   

   

   

 

   

Index Call Options  

Client Type  

Change of OI*  

% Change of OI*  

Oct 27 2021  

Oct 26 2021  

Oct 25 2021  

Client  

177013  

1828.27%  

186695  

9682  

100769  

Pro  

-164760  

150.75%  

-274052  

-109292  

-191180  

DII  

0  

0.00%  

401  

401  

401  

FII  

-12254  

-12.35%  

86956  

99210  

90010  

*Change from Previous Day  

   

   

   

   

   

  

   

Net Change in Open Interest  

Client Type  

Change of OI*  

% Change of OI*  

Oct 27 2021  

Oct 26 2021  

Oct 25 2021  

Client  

261281  

96.23%  

532788  

271507  

387436  

Pro  

-223180  

394.54%  

-279747  

-56567  

-156085  

DII  

-600  

0.94%  

-64389  

-63789  

-63789  

FII  

-37501  

24.81%  

-188651  

-151150  

-167562  

*Change from Previous Day  

   

   

   

   

   

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Company manufacturing product with potential market value of $115 million- Sigachi Industries IPO

28/10/2021

Sigachi Industries IPO will open for subscription between 1 Nov to 3 Nov. Shares will be offered at a price band of Rs.161-Rs.163. The minimum investment value is set at Rs.14,670 (90 shares) with a Face value of Rs.10 each. The listing date is set as 15 November. 

About the company:
Sigachi Industries, incorporated in 1989, is a company that manufactures Microcrystalline Cellulose. This component is used as an excipient for finished dosages in the pharma sector. The company manufactures various different grades of this component starting from 15 microns all the way to 250 microns. The company manufactures 59 different grades of MCC at its three manufacturing plants in Gujarat and Hyderabad. The total MCC manufacturing capacity as of 31st March, 2021 stands at 13,128 MTPA from all its locations. 

Financials:
Sigachi has seen a continuous growth across all the parameters. Revenue exhibited a sharp rise of 36.2% YoY growth from Rs.144 crores in FY20 to Rs.198 crores in FY21. Profit after tax also grew by a whopping 49% in FY21. The PAT Margin witnessed a growth of 100bps i.e. a growth of 15% in FY21. 

About the IPO:
The company plans on raising approximately Rs.125 crores through this IPO. Sigachi is offering 76.95 lakh equity shares with a face value of Rs.10 each. The promoters of the company are Rabindra Prasad Sinha, Chidambarnathan Shanmuganathan, Amit Raj Sinha and RPS Projects & Developers. The promoters hold 53.32% stake in the company. The total shareholding of the promoters and the promoter group stands at 64.64%. The book running lead manager to this issue is Unistone Capital. 

Main objectives of the IPO:
    • Funding the capex for expansion of production capacity at the two Gujarat manufacturing facilities
    • General corporate purposes

Why should you invest in this IPO?
The market for Microcrystalline Cellulose is estimated to be valued at $115 million by FY23 and a 4 year CAGR of 6.3% is stated by analysts. This high growth is attributed to the increase in demand of cosmetics, processed foods and personal care products. Along with the uses mentioned above, MCC is also widely used as an anti-caking agent in various food products and also as a hot and cold stabilizer. Keeping this in mind we can also see that the Indian food and pharma market is ever growing and this high growth isn't about to plateau anytime soon.

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ITC Q2 profit, revenue rise but shares extend losses

by 5paisa Research Team 28/10/2021

Cigarette-to-hospitality conglomerate ITC Ltd has reported a 10% increase in its consolidated net profit for the second quarter as sales rose, but its shares continued to fall after touching a one-year high earlier this month.

Profit for the July-September climbed to Rs 3,714 crore from Rs 3,368 crore during the year-ago period. 

Sequentially, the profit after tax grew 13% from Rs 3,276 crore in the three months ended June.

The rise in profit was in line with the increase in revenue from operations, which grew 13% to Rs 14,844 crore from Rs 13,147 crore during the year ago period. 

The numbers were above the estimates projected by several analysts, even though cigarette sales volumes were lower than expected. Jeffries, however, said in a report that lower cigarette volumes were offset by higher margins. 

Shares of ITC, a stock market laggard in recent years, fell 3% in early afternoon trade to Rs 231.25 apiece on the BSE, where the benchmark Sensex was 0.8% lower. The shares have declined 12.5% from a one-year high of Rs 265.30 apiece on October 18, but are still up 41% from a one-year low touched in October last year.

ITC Q2: Other highlights

1) Profit before tax rose to Rs 5,055 crore from Rs 4,565 crore a year earlier.

2) Revenue from the cigarette segment increased to Rs 6,219 crore from Rs 5,627 crore a year ago.

3) The cigarette segment saw a 10% increase in profit before tax to Rs 3,762 crore.

4) Revenue from the FMCG business rose 1% on a year-on-year basis to Rs 10,623 crore.

5) Revenue from the hotels business jumped 253% to Rs 311 crore as the hospitality sector recovered from the impact of Covid-related lockdowns

6) Revenue from other businesses grew just 2.8% over the year-ago period to Rs 4,043 crore.

ITC commentary

The company said it saw a broad-based recovery across sales channels and markets, as the intensity of the pandemic declined and the pace of vaccination picked up in the country. 

Although there was an uptick in demand, the positives were also offset by a steep inflationary impact on input costs as well as supply chain disruptions. 

ITC also reported a significant growth in its revenue from its agribusiness. This was mainly on account of growing exports of commodities like wheat, rice and leaf tobacco, as well as its strong sourcing network and the customer relationships, which it was able to take advantage of. 

The company launched two new hotel brands, ‘Storii by ITC’ and ‘Momentos by ITC’. Two new hotels were also launched in the country under the brand ‘Welcome’.

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5 Stocks to Buy Today: October 28, 2021

5 Stocks to Buy Today: October 28, 2021
by 5paisa Research Team 28/10/2021

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 October 28

1. Gujarat Narmada (GNFC)

Gujarat Narmada Stock Details for Today

- Current Market Price: Rs. 473

- Stop Loss: Rs. 461

- Target 1: Rs. 486

- Target 2: Rs. 505

- Holding Period: One week

5paisa Recommendation: Our technical experts see sideways move to end in the stock and recommends buying this stock.

 

2. United Spirits (MCDOWELL-N)

United Spirits Stock Details for Today: 

- Current Market Price: Rs. 883

- Stop Loss: Rs. 860

- Target 1: Rs. 909

- Target 2: Rs. 945

- Holding Period: 1 week

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

 

3. Chalet Hotels (CHALET)

Chalet Hotels Stock Details for Today: 

- Current Market Price: Rs. 242

- Stop Loss: Rs. 236

- Target 1: Rs. 248

- Target 2: Rs. 257

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see sideways move to end in the stock and recommends buying this stock.

 

4. Shilpa Medicare (SHILPAMED)

Shilpa Medicare Stock Details for Today: 

- Current Market Price: Rs. 600

- Stop Loss: Rs. 583

- Target 1: Rs. 618

- Target 2: Rs. 642

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see recovery on cards in this stock hence making this stock best stock to buy.

 

5. Astra Microwave (ASTRAMICRO)

Astra Microwave Stock Details for Today: 

- Current Market Price: Rs. 230

- Stop Loss: Rs. 224

- Target 1: Rs. 238

- Target 1: Rs. 253

- Holding Period: 1 week

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

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Technical Analysis: Astra Micro gives channel breakout

Technical Analysis: Astra Micro gives channel breakout
by 5paisa Research Team 28/10/2021

Astra Micro was consolidating from the past 22 trading sessions and breaks out from a consolidation phase on October 28, 2021. Read on to find out more.

Astra Microwave Products Ltd indulges in the business of designing, developing and manufacturing sub-systems for radiofrequency and microwave systems that are particularly used in defence, space, meteorology and telecommunications.

The company in Q1 FY22 posted a net profit of Rs 9.66 crore compared to a net loss of Rs 83 lakh that was reported in Q1 FY21. However, on a sequential basis, the stock has witnessed a 62% fall in its net profits when compared with Q4 FY21 earnings. Speaking about revenue, the company reported 23% growth in its revenue to Rs 120 crore as against Rs 97 crore in Q1 FY21.

In the last one year, this small-cap stock has soared almost 131%, outperforming the Nifty Small Cap 100 Total Returns Index (TRI) that ascended 87%. Whereas in the last one and a half year, Astra Micro jumped fourfold. Having said that, the stock has broken out from the channel on the daily charts. Even the volumes seem to be elevated signalling the strength of breakout.

Looking at the technical indicators such as Relative Strength Index (RSI), which is presently trading at 66 level which is above its 20-Day Exponential Moving Average (EMA) of 60. However, from the present consolidation phase, it is showing a negative divergence. On the other hand, Moving Average Convergence Divergence (MACD) is showing positive signs as, at the time of breakout, it witnessed a positive crossover in the positive territory.

The immediate support is placed at 214 levels, whereas the 234.35-238.30 zone would be the resistance for the stock. It is advisable to invest in stock on a pullback. In fact, in today’s trade, we do see the stock price moving down. Therefore, entering on pullback o validation makes complete sense.

At the time of writing Astra Microwave Products Ltd was trading at 225.45.

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Multibagger Alert: This midcap IT stock has risen close to 323% in the past year!

Multibagger Alert: This midcap IT stock has risen close to 323% in the past year!
by 5paisa Research Team 28/10/2021

On a YTD basis the stock has given investors a 285% return in 2021.

Bengaluru-based IT services firm, Happiest Minds Technologies Limited has given investors stellar returns of 323.97% over the last year. The share price stood at Rs 309.20 on October 27, 2020, and since then, the stock has more than quadrupled investors wealth who are betting on the strong growth prospects for digital IT services across the globe in the post-covid world.

Happiest Minds was listed on the exchanges in September 2020 at Rs 350 on NSE and Rs 351 on BSE, against its issue price of Rs 165 to Rs 166 per equity share. Today Happiest Minds share price has gone up to Rs 1300 (at 12:50 PM). When the Happiest Minds IPO was launched, the response was very positive as it had big-name Ashok Soota as Executive Chairman. Ashok Soota was one of the 10 founders of Mindtree and is widely recognized as one of the pioneering leaders of the Indian IT industry.

With regards to the business operations, Happiest Minds Technologies deals in the cloud and digital business, where huge corporate investment is expected post-Covid-19. With services such as cloud and security and analytics accounting for 97% of its revenues, and hence the company is being touted more as a digital services firm than legacy IT players. Hence, the business model of the company augurs strong revenue in future.

The IT firm reported its Q2FY22 numbers yesterday, October 27, 2021. Operating Revenues in US$ terms stood at US$ 35.8 million, registering a growth of 8.0% QoQ and 44.9% YoY. In Indian Rupees, revenue stood at Rs 264.53 crore, up by 8.1% QoQ and 44.7% YoY. EBITDA and PAT both grew impressively by 42% and 30.4% respectively. The IT company had 8 client additions in the quarter and the total client base stood at 186 as of September 30, 2021.

At 12.50 pm on Thursday, the stock is trading at Rs 1300, down by 0.83% or Rs 10.90 per share on BSE. The 52-week high of the scrip is recorded at Rs 1,580.80 and the 52-week low at Rs 285.55 on the BSE.

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