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%)
Nestle India 19222.25 (0.23%)
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%)

Is it the right time to invest in gold?

Is it the right time to invest in gold?
by 5paisa Research Team 15/11/2021

Gold has been consolidating downwards over the past 14 months. But last week, it gave a breakout. So, is it the right time to invest in gold? Let’s find out.

MCX Gold has been in a good rally ever since January 2017. It went all the way from 27,887 to make a high of 56,191 in August 2020. However, ever since MCX Gold has been moved into a downwards consolidation on weekly charts. In fact, on the lower time frames, it has already begun making lower highs and lower lows. Having said that, last week it breached out of the 14-month-old consolidation showing strength for the strong bullish momentum. Apart from this it also breached one of its crucial resistance levels of 48,635 and is currently trading above the Fibonacci level of 23.6% (level of 48,730) which is now acting as its immediate support level.

The Relative Strength Index (RSI) is presently trading at 62 which is above its 9-Day Exponential Moving Average (EMA) of 55. Moving Average Convergence Divergence (MACD) is trading near the neutral line with positive bias. The Rate of Change (ROC) also gave breakout after 14 months and is currently trading at 7.11 which is near its six months high. MCX Gold is trading above its Parabolic SAR for the past three to four weeks now.

As of now for MCX Gold, its immediate support and resistance level is placed at 48,635 and 49,716, respectively. Moreover, some of the important levels on the upside are 52,520-55,449-56,191. On the downside, the range of 44,115-45,589 works as crucial support. Breaching the abovementioned levels on either side would decide the mood for gold. Towards northwards, breaching of 51,620 level would mean strong bullishness is knocking on the door for Gold. Therefore, it is quite important to track these levels for MCX Gold.

At the time of writing, the MCX Gold was trading at 49,208 levels.

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Closing Bell: Markets end marginally higher in a volatile trading session

Closing Bell: Markets end marginally higher in a volatile trading session
by 5paisa Research Team 15/11/2021

Benchmark indices closed marginally higher on November 15 amid volatility and selling witnessed in the metal and PSU banking stocks.

Domestic equity benchmark indices ended on a flat note on Monday as gains in Kotak Mahindra, ITC, Power Grid, Tata Consultancy Services and Asian Paints was offset with losses in Reliance Industries, Tata Steel, State Bank of India, ICICI Bank and Larsen & Toubro. During today's trading session, the benchmarks staged a gap opening with Sensex rising as much as 350 points and Nifty moving above its important psychological level of 18,200. But due to profit booking seen at higher levels led to the benchmarks to come down from intraday highs.

At the closing bell on Monday, the Sensex was up 32.02 points or 0.05% at 60718.71, and the Nifty was up 6.70 points or 0.04% at 18109.50. On the market breadth, around 1218 shares have advanced, 2038 shares declined, and 145 shares remain unchanged.

Among the top Nifty gainers for the day were, Power Grid Corp, Cipla, ITC, ONGC and UPL. The top losers of the day were Coal India, Tata Steel, Hindalco, Eicher Motors and JSW Steel.

On a sectoral basis, the healthcare index rose 2%, while metal and PSU bank indices fell over 1% each. In the broader markets, the BSE midcap index was up 0.4% and Smallcap index was down 0.2%.

Trending stocks of the day were market debutants, SoftBank-backed PolicyBazaar's parent PB Fintech, which opened at a premium of 17% to the IPO price. While refined wood pulp maker Sigachi Industries is listed at a 250% premium over its IPO price of Rs 163.

Power Grid was the top Nifty gainer, as the stock rose 3.13% per cent to close at Rs 188. ONGC, ITC, Cipla, UPL, Britannia Industries, Asian Paints, Divi's Labs, Nestle India and Kotak Mahindra Bank also rose between 1-2.5% respectively.

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Top swing trading ideas you should not miss!

Top swing trading ideas you should not miss!
by 5paisa Research Team 15/11/2021

Best Swing Trading ideas based on price and volume percentage surge. Escorts India, Gland Pharma, and Can Fin Homes.

Price and volume are two of the most prominent inputs used by traders across the world while swing trading. When used in isolation, they reveal very little but when used in conjunction, they help us to sort the wheat from the chaff. So, this swing trading system is based on the deadly combination of price and volume percentage surge, which helps us to discover high probability swing-trading candidates.

So, here is the list of stocks that fulfil the criteria of volume and price surge and as a result, they flash in our swing-trading system:

Escorts India: The stock of Escorts India soared 3.78% on the trading session that ended Monday. Escorts was trading in a narrow range of 1550-1600 since few trading sessions and it managed to close above this range. It formed a strong green candle on the chart with a bigger volume which was well above its 10-day and 30-day daily average volume. The stock is trading above its key moving averages and RSI is going strong at 63 showing strength. The stock closed at its record high and certainly looks strong for coming sessions. Considering its strong price action with good volumes, Traders must include this stock in their watchlist for upcoming days.

Gland Pharma: This pharmaceutical company zoomed 5.16% on Monday. Gland Pharma has corrected 18% from its recent high and was weak. Today, it formed a strong green candle supported with larger volumes. The RSI is back at 50 showing that the stock has gained some strength. The stock looks for a trend reversal and this might possibly be the beginning. Swing traders should closely watch this stock for quick profits.

Can Fin Homes: This stock surged 2.8% on Monday’s trading session. The stock underwent a slight correction from its recent high and found support at 50-DMA before bouncing back. It managed to close above its 20-DMA with bigger volumes showing positive sentiment. It is about 50 points (7.5%) away from its all-time high. The volume witnessed today was 1.5 times the previous day’s volume indicating fresh participation. The stock looks technically strong and can test its all-time high levels soon. Considering its strong price action with good volumes, traders must include this stock in their watchlist for upcoming days. Considering this strong breakout, the stock looks attractive for swing trading.

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Stock in focus: For NIIT it is high performance and expectations ahead!

Stock in focus: For NIIT it is high performance and expectations ahead!
by 5paisa Research Team 15/11/2021

NIIT Limited is a skills and talent development company that offers multi-disciplinary learning management and training delivery solutions to corporations, institutions and individuals.

The company has a market cap of Rs. 5,183 crore. The company is enjoying an increase in market share in the last five years from 28.52% to 41.48%. It has recorded higher than industry revenue growth and industry net income in past few years. 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.

The stock has performed exceptionally well by delivering returns of 92.83% YTD. On a YoY basis, the stock has gained 159% and has also gained 20.33% in three-months time. This shows that the stock is performing strongly for quite some time.

The stock, after touching the all-time high level on 24 September, was going through a correction phase and corrected as much as 27%. It then made a U-shaped recovery and is trading strongly since the past four trading sessions as it gained 16%. It reclaimed its all-time high levels with larger volumes and the volumes witnessed during the last few sessions were well above the volumes of the past few weeks. The stock is trading well above its key moving averages and RSI is going strong at 70. The positive directional movement (+DMI) crossed the -DMI a few trading sessions back and is currently above it. This shows strong strength and potential in the stock. Market participants are showing interest in this stock, as is evident from the above points.

Considering the performance NIIT has shown, we can expect the stock to continue its momentum on the higher side. Traders can expect some good returns for the short to medium term as the technical analysis validate our point. 

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GO AIR IPO- Let’s take a peek into the company and the industry most affected by the pandemic

by 5paisa Research Team 15/11/2021

The low cost, economy airlines, GoAir, now re-branded as Go First has filed an addendum to its DRHP, on November 10. The DRHP was filed with SEBI on May 14, 2021 and it received a green signal from SEBI on August 31, 2021.

Let us take a look at the workings of the company and the management of the upcoming Rs.3600 crore GoAirlines IPO. GoAir, founded in 2004 and owned by the Wadia group, started its operations in 2005 and has since then carried 80 million passengers. The company has flights flying to 28 domestic destinations as well as 9 international ones as of January 31, 2020. Around 300 flights are operated daily.

Air travel in general has picked up since the lock- down was eased but still remains focused on the weekend and festivals. The weekday demand for the industry still stands at 30%-35% below the pre-Covid levels, however November and December seems to be shaping up pretty well for the industry as more and more people are taking long holidays as well as traveling back home for the festive season, after more than a year. International flights still hang in the balance.

Another negative factor for the aviation industry is that the government has currently initiated a cap on the fares(both upper and lower range) which does not allow the companies to either increase or decrease the airline fares beyond a certain fixed point. By early 2022, fare cap is expected to be removed. According to analysts, the fare prices could fall substantially after the cap is removed as the airlines focus more on addition of passengers than earning more from one passenger. The airlines will surely lower the fares to attract more and more customers.

According to the FY20 report, the company had a debt of Rs.1,780 crore. Revenue from operation stands at Rs.70,560 million for the year ended March 31, 2020.This is a 21.8% increase over the revenue of Rs.57,887 million for the year ended March 31, 2019. The company has been making continuous losses from 2016-2020.

Also, the Managing director and promoter of GoAir, Jeh Wadia, resigned last week and the former CEO of Spirit Airlines, Ben Baldanza has been appointed as GoAir’s Vice Chairman. They have been thinking about going public for a few years but various tiffs in the upper management has kept delaying the process. The Wadia group has 73.3% stake in the company and Baymanco Investment Ltd owns 21.50% stake.

Lets take a look at all the details we have about the upcoming IPO. The book running lead managers, according to the addendum filed with SEBI are, ICICI Securities Ltd, Morgan Stanley India Private Ltd and Citigroup Global Markets India Pvt Ltd. The objectives of the issue are stated as:

1. Prepayment and repayment of all the debt accumulated by the company

2. Repayment of the dues to Indian Oil Corporation for the fuel that has been supplied to GoAir

3. Paying for the upkeep and maintenance of the aircrafts (Rs.254.93 crore)

As on November 2, 2021, Rs.1,346.7 million is the amount of money owed by the company to vendors. The company plans on utilizing Rs.96.3 crore from the proceeds of the issue, to pay back the vendors.

 

Strengths of investing in the IPO:

1. It has one of the youngest fleets of aircraft in India and globally with the average age being 3.7 years, as of February 2021

2. The market share of the country rose from 8.8% in FY17-18 to 10.8% in FY19-20

3. Even the passenger volume increased by 22.4% to 16.2 million in FY20 and the passenger revenue has also risen by 24.8%

4. The company is set to receive its order of 99 A320 NEO Aircrafts over the next few years

 

Risks of investing in the IPO:

1. The number of departures in December 2020 decreased to 63% of the total in December 2019, due to which the fixed costs increased along with a rise in the amount of debt due to the pandemic

2. A net loss of Rs.470.69 crores between April 2020 and December 2020

3. The entire fleet they possess comprises of Airbus A320. If there are any problems in the engine of the A320, the whole fleet will face the problem and this will be catastrophic for the company

4. Low profit margins experienced

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These stocks see huge volume burst in the last leg of the trading session!

These stocks see huge volume burst in the last leg of the trading session!
by 5paisa Research Team 15/11/2021

Delta Corp, Fine Organics Industries, and GlaxoSmithKline Pharmaceuticals Limited have witnessed volume burst in the last 75 minutes of the trade.

As the saying goes, the first and the last hour of each trading session is the most important and active in terms of price and volume. More so, the activity in the last hour is said to be of utmost importance because most of the pro traders and institutions are active at this time. Hence, when a stock sees a good spike in volume in the last leg of trade along with price rise it is said to be the pro and institutions have a keen interest in the stock. Market participants should keep a close watch on these stocks as they can witness good momentum in the short-medium term.  

So, based on this principle we have shortlisted three stocks, which have witnessed volume burst in the last leg of trade along with price rise.

Delta Corp: Delta Corp ended 2% in Monday's trading session. The stock traded flat to negative throughout the day barring the last 75 minutes. The stock rose 2.15% in the last hour with huge volume as 62% of the total volume was traded in the last 75 minutes. The stock has closed at a record high and will look to continue its upward journey. This stock must be included in the watchlist for the coming days.

Fine Organics Industries:  Fine Organics rose a massive 13.72% on Monday. The stock traded firmly in green all day. Major activity was seen in the latter half of the trading session. NBFC stock gained 3.58% in the trading session that ended Friday. The stock is going strong for the last few days and closed at its record high. The highest volume was recorded today after many months and certainly one can expect a lot of trading activity in this stock in the coming trading sessions.

GlaxoSmithKline Pharmaceuticals Limited: The stock surged 2.57% on Monday closing near its resistance level of 1680. The stock traded firmly in the green, and volumes kept on rising as the session progressed. Bulls looked interested in the stock as it kept on rising. The last 75 minutes witnessed good volumes and this stock will be quite active for times to come. It is currently trading near a stiff resistance level of 1680, and we could possibly see a newer high.

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