Nifty was doing quiet well and had a strong momentum going forward. On the daily chart it had gone substantially above 200 days EMA (23541) and reached 23780. Three of things happened after that. 1) There was a massive escalation in Russia Ukraine war where Putin approved use of Nuclear weapons if required. At the same time news of Ukraine hitting Russia with...
PDS Ltd. is a holding company, which engages in the trading of ready-to-wear apparel. The firm is also involved in the business of holding, owning, leasing or licensing real estate. It operates through the following segments: Sourcing, Manufacturing, and Others. PDS Ltd. CMP is 514.70. The positive aspects of the company are Company with Zero Promoter Pledge,...
HDFC Bank Ltd. engages in the provision of banking and financial services including commercial banking and treasury operations. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking, and Other Banking Business. HDFC Bank Ltd. CMP is 1705.1. The positive aspects of the company are Attractive Valuation (P.E. = 18.8), Company with...
Nifty after closing below the 200 days EMA Father line on daily charts, may find support near 50 weeks EMA (Mother line of Weekly chart). The 50 weeks EMA is at 23233. Before reaching there today's low of 23350 will also be a support. If by chance both these levels are broken the mid channel support for Nifty seems to be at at 22800 zone. Below which the bears...
Nuvama Wealth Management Ltd. is a stock broking company, which engages in conducting trading and broking activities for institutional as well as retail clients. It operates through the following segments: Capital Markets, Wealth Management, and Holding Company Activities. The Capital Markets segment includes institutional broking business, merchant banking...
Redington Ltd. provision of machinery, equipment and supplies. It includes computers, computer peripheral equipment, software, electronic, and telecommunications equipment and parts. It operates through the India, and Overseas segments. Redington Ltd. CMP is 193.37. The Negative aspects of the company are MFs decreased their shareholding last quarter. The...
Nifty this week gave a closing at 23532 a fraction below 200 days EMA or Father line which was at 23542. It will be imperative for Nifty to close above it within next week for bulls to get out of jail. Closing above 23542 will not be enough as there are many more hurdles to cross for Nifty once it scrambles above 200 days EMA. If the Nifty is not able to cross...
Reliance is a large cap company with a market cap of Rs.17,15,224 Crores. CMP of the stock is Rs.1268 with and EPS of Rs.50.2. PE of the company is 25.2. Ten year PE is 21.2. PE in July was 30.9 which has corrected to 25.2 now. Reliance Industries is a fundamentally strong stock. The company covers following sectors. 1) Energy a) Oil and Gas Exploration &...
Gold futures are exactly at Mid-Channel Support for Gold Enthusiasts. Mother line support is already broken after head and shoulders formation in Gold. Gold Futures CMP is 75200. If Mid-Channel support 74436 (Major Support) is broken we can see gold fall to 73175 or even 71192 levels where Gold will come down to meet the Father line support of 200 days EMA....
The 30 month channel in which Nifty is travelling seems to suggest that we are near 3 critical support zones. We might see a bottom formation within this week or the next week beginning. Perhaps the pain of retail investors might end soon with chances of sectoral rotation. Let us have a look at medium to long term outlook. As we have indicated time and again...
The downward channel still governing Nifty and crushing it at every giving opportunity through continuous selling pressure from mainly FIIs. However Bollinger Bands is starting to suggest that Nifty might be oversold. Supports for Nifty now remain near 23822, 23611, 23380 and 23197. Resistance for Nifty remains at 23968, 24088, 24167, 24388 and 24548. Every bounce...
Nitin Spinners Ltd. engages in the manufacture of cotton yarn and knitted fabric. Its products include apparels and garments, under garments, terry towels, woven fabrics, home furnishings, carpets, denim, industrial textiles, medical textiles and socks. It operates under the Within India and Outside India geographical segments. Nitin Spinners Ltd. CMP is 409.95....
Gravita India Ltd. engages in the manufacture of lead metals by the process of smelting and recycling followed by refining, alloying and manufacture of lead oxide. The firm also trades lead scrap, ore, concentrates, battery scrap and allied Lead products globally. It operates through the following segments: Lead, Aluminium, Turn Key Solution, and Others. Gravita...
Nifty is trapped between Mother line and trend line resistance. The comeback that Nifty made from lows of the day was good. Today's low was 24004 from there the Nifty closed at 24141. The resistance on the way up for Nifty currently seem to be at 24221 (Mother line 50 Hours EMA), 24339, 24541, 24587 (Major Father line resistance 200 hours EMA) and 24700. Supports...
Nifty on a weekly chart seems to be in the consolidation mode. With important geopolitical events that happened around the globe and India Nifty is trying to find a firm footing from where it can launch ahead. The events like Ukraine and Russia conflict, Israel and Iran++ conflict, Indian election results, Haryana assembly elections, US elections proved very...
Nifty had reached channel top of the downward channel on hourly chart and was clearly not able to defeat it as evident in the chart and corrected wiping all the gains from yesterday's trump rally. Can it make one more effort to claim the channel top and defeat it is the question. Supports for Nifty remain at 24179, 24073 and 23816. Below 23816 the bears will feel...
Markets breathed a sigh of relief it seems on the victory of Donald Trump and rallied crossing important trend line hurdle. Now 2 important resistance remain to be conquered before Bulls can claim victory over bears. The next likely resistance levels that bulls will face will be at 24537 and Mother line resistance at 24748. (50 days EMA). Once that is crossed the...
Nifty Analysis: 1) Today's low 23816 is very important level to watch. 2) Next support at 23502 (Father Line or 200 days EMA). 3) Final Major support near 23201(Trend line meeting point and 50 weeks EMA (Major Mother Line). 4) Closing below 23201 has potential to break the hell loose. 5) Resistance on the upside at 24145, 24320, 24506 and 24781 (50 days...
