FRIDAY 

26-APR-2024

 

Break and sustain above 22625 is further upside

FLAT to POSITIVE

Today’s Market Prediction:

• Indian stock market Would open FLAT
• Technically, Nifty is in the Negative zone- BankNifty is in the Positive zone.
• Nifty index formed  strong bullish candlestick pattern on the daily charts
• India VIX up by 4.42 percent to 10.73 levels.
• US economic growth slows in first quarter; inflation surges
• Maruti Suzuki to announce Q4 earnings
• Tech Mahindra Q4 net profit declines 40.9%
• Bajaj Finance to declares Q4 earnings
• NHPC: The Arbitral Tribunal has pronounced an award in the arbitration matter between L&T and NHPC in favor of Larsen & Toubro
• Faalcon Concepts: The trading in equity shares of the company will commence on the BSE SME with effect from April 26. The issue price is Rs. 62 per share. 
• PG Electroplast: PG Technoplast, a wholly-owned subsidiary of the company, has opened its new air conditioning manufacturing facility for North India in Bhiwadi, Rajasthan.

Stocks in NEWS  

• Tech Mahindra: The global IT services company has recorded a consolidated net profit of Rs 661 crore for quarter ended March FY24, rising sharply by 29.5 percent over the previous quarter, despite a weak topline, boosted partly by other income. 

• Bajaj Finance: The leading non-banking finance company has reported a net profit of Rs 3,825 crore for the March FY24 quarter, growing 21 percent over the corresponding period of the last fiscal. 

• IndusInd Bank: The private sector lender has registered a 15 percent on-year growth in standalone net profit at Rs 2,347 crore for the quarter ended March FY24, driven by lower provisions for bad loans and higher pre-provision operating profit

• L&T Technology Services: The engineering services company has recorded net profit at Rs 341.4 crore for January-March quarter of FY24, rising 1.4 percent over previous quarter due to pressure in EBIT margin.

• Tata Steel: After seven months of formal and informal national-level discussions with the UK trade unions, Tata Steel has decided that it will proceed with its 1.25-billion-pound investment to build an electric arc furnace in Port Talbot, in South Wales.

• Cyient: The engineering and technology solutions company has reported a consolidated net profit of Rs 196.9 crore for quarter ended March FY24, growing 28.5 percent over the previous quarter due to a low base. 

Market Indication:

Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY: FLAT to POSITIVE

PCR:The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.28 on April 25, from 1.04 levels in the previous session.

BULK Deals: Laxmi Costpin limited, Joyti Structures Ltd etc.

Stocks In F&O Ban Period: Vodafone Idea

Results Today: Maruti Suzuki India, HCL Technologies, Aditya Birla Sun Life AMC, Bajaj Finserv, SBI Life Insurance Company, Shriram Finance, Bajaj Holdings & Investment, CSB Bank, Eveready Industries India, Force Motors, Indiabulls Real Estate, Bank of Maharashtra, Mastek, Motilal Oswal Financial Services, and SBI Cards and Payment Services 

GIFT NIFTY:  (Positive)

22680   +25.00    +0.11%

FII-DII: FIIs were net sellers of Rs.2823.33 crores whereas DIIs were net buyers of Rs.6167.56 crores in cash market for last trading session.

NIFTY (22570) The support for the Nifty is: 22378-22302-22180 and the Resistance to the up move is at: 22623-22699-22821 levels.

BANKNIFTY (48495): The support for BankNifty is: 47947-47737-47398 and the resistance to the up move is at 48625-48835-49175 levels.

 

**********************************************************************************************************************************************************************

Note:

CHECK THE MARKET DIRECTION BEFORE YOU TRADE

WE ARE NOT ADVISORY or TIPS PROVIDERS
we are not SEBI registered . you may consult your Financial advisor before taking trade.
Our views are based on candlestick charts,patterns,Mathematical based calculation ( pivot)
we are not responsible for any profit/loss as views are for Educational/Observation Purpose
Maintain your daily risk as per your capital and risk management. daily risk should not cross more than 2 % of your Total capital . managing your risk is important in any kind of trading . If you are in direction of Profit then Trail your SL . without SL no trade. 

If you are Trading in Equity : then you may use this calculation for risk management
If Daily Risk in Equity is Rs. 250 and SL is of 5 points ( from entry point to SL point)  then Qty should be taken as per this Risk: 250/5 = Qty 50