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%)

Opening Bell: Here’s what you need to know before the market opens on October 18, 2021.

Opening Bell: Here’s what you need to know before the market opens on October 18, 2021.
by 5paisa Research Team 18/10/2021

The bulls fairy tale on the D-Street is likely to continue amid a decent performance by HDFC Bank.

Indian benchmark indices will resume trading after a long weekend as Friday was a holiday on account of Dussehra. The SGX Nifty indicates that the fairy tale of the bulls is likely to continue on D-Street. The long weekend will not derail the momentum of the bulls as market participants will be rejoicing from the fact the major private sector lender HDFC Bank displayed a good performance in Q2. The SGX Nifty indicates that Nifty would open the day up by 31 points at the 18,435 level.

Cues from Asian markets: Majority of the Asian markets were seen trading in red on the first trading day of a fresh week. China’s Shanghai Composite is down by 0.69% after data released showed that the GDP of China grew at 4.9% in Q3 which is the slowest in a year in the third quarter. Hong Kong’s Hang Seng was down by 0.44% and Japan’s Nikkei has dipped 0.23%.

Overnight cues from US markets: All the three US stock indices signed off the week on a buoyant note with the Dow leading from the front as it has jumped over 1%, while the tech-heavy Nasdaq rose by nearly 0.50% and the S&P 500 added 0.1%. Strong earnings propelled the markets higher on Friday. For the week, Nasdaq outperformed its counterpart as it jumped over 2%, the S&P 500 registered its best weekly gain since July as it has gained 1.82% and the Dow advanced 1.58%. 

Last session summary: On Thursday, Indian benchmark indices scaled to fresh record highs on the back of buying witnessed almost across the board. The Nifty and Sensex settled the day above the 18,300 and 61,300 mark, respectively. Among the sectoral indices, barring Nifty Auto, all other sectoral indices ended in green.  

FII’s and DII’s activity on Thursday: The DIIs continued to be the net sellers for the fifth straight day as they sold to the tune of Rs 1,750.59 crore, on other hand, FIIs were the net buyers for the second day in a row to the tune of Rs 1,681.60 crore.

Important events to watch out for: On the earnings front, Larsen & Toubro Infotech, Route Mobile and Tata Coffee will be in focus.

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This stock which has gained over 350% meets Mark Minervini’s Trend template.

This stock which has gained over 350% meets Mark Minervini’s Trend template.
by 5paisa Research Team 18/10/2021

The stock of Lakshmi Machine Works Ltd has formed a Hammer like pattern in the last week of March 2020 and thereafter marked the sequence of higher tops and higher bottoms. From the low of Rs 2000, the stock has gained 351.64%.

On Friday, the stock has given a breakout of cup pattern breakout. The depth of the cup pattern is 17% and its length is 10-weeks. Further, this breakout was supported by a robust volume of nearly double of 50-weeks average volume, indicating strong buying interest by market participants.

In addition, the stock has formed an opening bullish Marubozu candle on breakout week, which adds strength to the breakout. The opening bullish Marubozu candle has no shadow extending from the open price end of the body. Opening bullish Marubozu candle indicates extreme bullishness.

Currently, the stock is meeting the criteria of Mark Minervini's Trend Template. The current market price of the stock is above the 150-day (30-week) and the 200-day (40-week) moving averages. The 150-day moving average is above the 200-day moving average. Since the last 299 trading sessions, the stock is trading above its 200-day moving average.

The 50-day (10-week) moving average is also above both 150-day and 200-day moving averages. The current stock price is above the 50-day moving average. Also, the current stock price is nearly 138% above its 52-week low and currently, it is trading at all time high. In the last couple of weeks, the stock has outperformed the frontline indices. Also, it has relatively outshined the Nifty 500 with a decent margin. The relative strength comparison with Nifty 50 and Nifty 500 is marking the higher high.

One interesting observation on the leading indicator RSI is that during the formation of the cup pattern, the RSI has never sustained below the 60 mark. It has taken support in the zone of 59-60 level and bounced back. As per the RSI range shift rules if RSI bounced level of 60 then it has resulted in a range shift of RSI. The trend strength is very strong as weekly ADX is at 49.51, and it is above the +DMI & -DMI.

Talking purely about the trading levels, the 20-day EMA will act as strong support for the stock. According to the measure rule of cup pattern, the first target is placed at Rs 10400 level.

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Chart Busters: Top trading set-ups to watch out for on Monday.

Chart Busters: Top trading set-ups to watch out for on Monday.
by 5paisa Research Team 18/10/2021

The benchmark index Nifty has marked a fresh all time high of 18350.75 level. In the last four trading sessions, the index has gained 443.35 points or 2.47%. On Thursday, barring the Nifty Auto index, all other sectoral indices have ended in positive. The Nifty Midcap 100 and Nifty Smallcap 100 has also marked the fresh all time high. From the Nifty 500 space, almost 65 stocks have marked a 52-week high.

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

Alkali Metals: The stock has formed a hammer candlestick pattern as of September 22, 2021, and thereafter witnessed a nearly 63% upward journey in just 9 trading sessions. However, after registering the high of Rs 111.70, the stock has witnessed correction. During the period of correction, the volume activity was mostly below the 50-days average volume. Hence, it should be viewed as a routine decline after a robust move. The correction is arrested near 50% Fibonacci retracement level of its prior upward move. On Thursday, the stock has taken support near the 13-day EMA level and resumed its upward journey.

The 14-period RSI on the daily timeframe is in bullish territory and it has given positive crossover on Thursday. Furthermore, in the recent corrective phase, the RSI never breached its 60 mark, which indicates that the stock is in a super bullish range as per RSI range shift rules. The MACD is above the zero line and signal line on the daily chart. The MACD histogram suggests bullish momentum. And most importantly, the MACD line crossed the prior swing highs.

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 high of Rs 111.70 will act as minor resistance for the stock. While on the downside, the zone of Rs 90-Rs 88 will act as a strong support zone for stock as it is the confluence of swing low and 13-day EMA level.

Indiabulls Real Estate: Considering the daily chart, the stock has given a breakout of a downward sloping trendline resistance on Thursday. With this trendline breakout, the ADX, which shows the strength of the trend, turned upside and moved above the -DI. Further, this breakout was supported by above 50-days average volume. In addition, the stock has formed a sizeable bullish candle on breakout day, which adds strength to the breakout. 

Currently, the stock is trading above its short and long-term moving averages. These averages are in rising mode. 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 stays bullish as it is trading above its zero line and signal line.

Based on the above observations, we expect the stock to continue its upward movement. The prior swing high of Rs 174.75 will act as minor resistance for stock and on the downside, the zone of Rs 152-149 is likely to act as strong support for the stock.

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5 Stocks to Buy Today: October 18, 2021

5 Stocks to Buy Today: October 18, 2021
by 5paisa Research Team 18/10/2021

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 18

1. Beml Ltd (BEML)

Beml Ltd Stock Details for Today

- Current Market Price: Rs. 1,660

- Stop Loss: Rs. 1,615

- Target 1: Rs. 1,710

- Target 2: Rs. 1,800

- Holding Period: One week

5paisa Recommendation: Our technical experts see end in sideways move of the stock hence making this stock best stock to buy.

 

2. Hindustan Aeronautics (HAL)

Hindustan Aeronautics Stock Details for Today: 

- Current Market Price: Rs. 1,444

- Stop Loss: Rs. 1,400

- Target 1: Rs. 1,500

- Target 2: Rs. 1,565

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects further buying in the stock and recommends buying this stock.

 

3. Divi's Laboratories (DIVISLAB)

Divi's Laboratories Stock Details for Today: 

- Current Market Price: Rs. 5,372

- Stop Loss: Rs. 5,240

- Target 1: Rs. 5,500

- Target 2: Rs. 5,625

- 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.

 

4. Lakshmi Machine (LAXMIMACH)

Lakshmi Machine Stock Details for Today: 

- Current Market Price: Rs. 9,033

- Stop Loss: Rs. 8,850

- Target 1: Rs. 9,250

- Target 2: Rs. 9,460

- 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.

 

5. Havells India (HAVELLS)

Havells India Stock Details for Today: 

- Current Market Price: Rs. 1,474

- Stop Loss: Rs. 1,435

- Target 1: Rs. 1,510

- Target 1: Rs. 1,558

- 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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Fund manager’s favourite stock in September 2021.

Fund manager’s favourite stock in September 2021.
by 5paisa Research Team 18/10/2021

Financials remain the favourite stock of fund managers in the month of September 2021.

The month of September 2021 saw Nifty 50 inching up by almost 3%, while the broader market is up by almost 5%. The Nifty Bank that has been underperforming for a long was also up by 4.5% in September 2021. This is also reflected in the purchases made by domestic mutual fund managers last month. Out of the top 10 stocks where fund managers were most bullish among large-cap in September 2021, six were from the financial sector. SBI Cards and Payment Services was the stock where around Rs 1285 crore worth of shares was purchased by fund managers.

Following table shows the shares where MFs invested most in September 2021:

Large-Cap stocks

Stock Name 

Sector 

Net Qty Bought 

Approx. Buy Value(In Rs. cr) 

SBI Cards And Payment Services Ltd. 

Financials 

11844889 

1285.26 

HDFC Bank Ltd. 

Financials 

6807882 

1081.23 

SBI Life Insurance Company Ltd. 

Financials 

7788557 

937.41 

Axis Bank Ltd. 

Financials 

10827092 

840.76 

Bajaj Finance Ltd. 

Financials 

1061178 

806.1 

Adani Enterprises Ltd. 

Miscellaneous 

4255194 

650.13 

Bajaj Finserv Ltd. 

Financials 

345665 

603.77 

Bajaj Auto Ltd. 

Automobile and Ancillaries 

1576452 

595.91 

Tech Mahindra Ltd. 

Technology 

3383743 

478.5 

Power Grid Corporation Of India Ltd. 

Energy 

26018509 

475.22 

  

Mid-Cap Stocks

Stock Name 

Sector 

Net Qty Bought 

Approx. Buy Value(In Rs. cr) 

Max Healthcare Institute Ltd. 

Healthcare 

52457815 

1954.18 

Ashok Leyland Ltd. 

Automobile and Ancillaries 

48093037 

616.91 

Bharat Forge Ltd. 

Automobile and Ancillaries 

5728799 

430.99 

Aditya Birla Sun Life AMC Ltd. 

Financials 

5266140 

374.95 

Bata India Ltd. 

Retail and Other Services 

1699789 

301.71 

Coforge Ltd. 

Technology 

549741 

287.24 

Canara Bank 

Financials 

16117977 

267.64 

Oberoi Realty Ltd. 

Construction 

2754279 

229.68 

Vodafone Idea Ltd. 

Media and Communications 

237559131 

213.8 

The Phoenix Mills Ltd. 

Construction 

2246445 

204.56 

  

 Small-Cap Stocks

Stock Name 

Sector 

Net Qty Bought 

Approx. Buy Value(In Rs. cr) 

Vijaya Diagnostic Centre Ltd. 

Healthcare 

14447792 

823.45 

Multi Commodity Exchange Of India Ltd. 

Financials 

1544906 

245.35 

Sansera Engineering Ltd. 

Automobile and Ancillaries 

3005483 

242.27 

Cyient Ltd. 

Technology 

2250869 

229.61 

Can Fin Homes Ltd. 

Financials 

2696066 

169.55 

V-Guard Industries Ltd. 

Capital Goods 

5605192 

140.52 

AMI Organics Ltd. 

Healthcare 

1009251 

129.46 

JB Chemicals & Pharmaceuticals Ltd. 

Healthcare 

724054 

129.23 

Arvind Fashions Ltd. 

Retail and Other Services 

4856220 

126.5 

eClerx Services Ltd. 

Technology 

494353 

109.44 

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HDFC Bank’s Q2 numbers show positive signs, analysts see 15-20% stock upside

by 5paisa Research Team 18/10/2021

HDFC Bank posted robust earnings growth for the second quarter, thanks to a rise in advances due to a pickup in retail lending as well as strong commercial and rural loans.

Improved asset quality and thereby lower provisioning costs also helped India’s most valued lender match street estimates for quarterly earnings.

HDFC Bank: Basic Numbers

HDFC Bank’s standalone net profit rose 17.6% to Rs 8,834 crore for the three months ended September 30 from Rs 7,513 crore a year earlier.

Some analysts had expected a slightly higher profit, but this was more or less in line with general consensus. The bank’s net interest margins stayed at 4.1%, which took away some sheen off the bottom line.

Net interest income at Rs 17,684.4 crore increased 12.1% year-on-year and 4% from the first quarter ended June 30.

HDFC Bank: Credit growth

HDFC Bank’s credit growth improved to 15.5% compared to the same quarter last year and 4.4% sequentially, backed by a pickup in retail loans that grew nearly 13% even as wholesale loan growth moderated to 6%. Retail credit growth was driven by advances in home, auto, personal loans and payment products (including cards).

This is a critical sign as it shows pickup in consumer sentiment and sets the right tone for the current quarter where retail advances could improve net interest margins for the bank, thereby shining the profit numbers. Since the Reserve Bank of India has lifted a ban on the company’s new credit card customer acquisition programme, it is also likely to provide a fillip for the bank.

The bank’s credit growth was in the 20% range before the pandemic hit the economy. But with two consecutive quarters of sequential improvement, HDFC Bank appears to have seen the worst and is set for better credit picture in the current quarter.

HDFC Bank: Asset quality and provisioning

The bank’s gross non-performing assets (GNPA) ratio improved to 1.35% in Q2 from 1.47% in Q1. The net NPA ratio declined to 0.4% from 0.48% in Q1 and 0.5% in the preceding quarter ended March 31, 2021.

Its NBFC arm, HDB Financial Services, also reported an improvement in the GNPA to 6.1% from 7.8% in Q1.

Provision and contingencies rose 6% year on year to Rs 3,924.7 crore, though the amount declined by nearly a fifth from Rs 4,830.8 crore in Q1.

Analysts’ view

As the most valued lender in the country, HDFC Bank is also seen a bellwether for the credit growth scenario for the economy and especially consumer sentiment due to its large presence in the retail loans space. Over the last year or so, banking sector stocks have underperformed as investors remain wary of asset quality as well as concerns about credit offtake. To that extent, the improving financial picture of HDFC Bank rings the right bells.

Most brokerage houses have a buy call on the stock with the average target price around Rs 1,950-2,050 a share. This leaves room for 15-20% upside on the stock.

Emkay: The brokerage has a buy rating with a target price of Rs 2,050 a share. “We believe that growth acceleration and the lifting of the embargo on the credit card business are positive. However, lower margins and higher restructuring in Q2 were a tad disappointing,” it said.

Nirmal Bang: It maintains a buy call on the stock with a target price of Rs 1,962 a share. The brokerage said the pick-up in the retail segment, where growth had been lacklustre in the last few quarters, was encouraging.

“Accordingly, we expect margins to improve progressively and NII should revert to 15% YoY growth level in a few quarters. We remain sanguine about the bank’s growth prospects given that it is taking multiple measures to capture emerging opportunities in commercial/rural and retail banking.”

ICICI Securities: The brokerage has also maintained a buy rating but has increased the target price from Rs 1,818 to Rs 1,955 a share.

Motilal Oswal: It has also maintained its buy call on the stock and revised the target price to Rs 2,000 per share. “High provision coverage and contingent provision buffer provide comfort on asset quality. A pickup in loan growth particularly retail would aid NII and margins, which would drive profitability,” it said.

IDBI: The brokerage has a buy rating with the new target price of Rs 2,020 compared with Rs 1,790 earlier.

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