THURSDAY 

03-OCT-2024

 

Bears on the ride-Break and sustain below 25750 (pivot) may lead to further downside-Nifty Expiry

NEGATIVE

Today’s Market Prediction:

• Indian stock market Would open Gap down NEGATIVE
• Technically, Nifty is in the Bullish zone- BankNifty is in the Positive zone
• Nifty index formed a Doji candlestick pattern on the daily charts, indicating indecision among buyers and sellers regarding the future market trend.
• India VIX fell by 6.25 percent to 11.99 levels.
• NMDC:The company reported iron ore production of 3.04 million tonnes (MT) in September 2024, growing by 1.3% over the 3 MT produced in the same month last year. Sales grew by 13.8% year-on-year to 3.54 MT in September.
• Syngene International:The company has received an order from the Income Tax Department granting a refund of Rs 13.6 crore for Assessment Year 2021-22. The refund amount is yet to be received.
• Thermax:Thermax Engineering Singapore Pte, a wholly owned subsidiary of the company, made a further investment of Rs 25.9 crore in its subsidiary Thermax (Thailand).

Stocks in NEWS:-

• Eicher Motors:Royal Enfield sales increased by 11% year-on-year to 86,978 units, exceeding analysts' estimates, compared to 78,580 units sold in September last year. Exports in September jumped by 77% to 7,652 units, compared to 4,319 units in the same month last year.

• Hero MotoCorp:The two-wheeler major has announced sales of 6.37 lakh units in September 2024, beating analysts' estimates and growing by 18.7% over the 5.36 lakh units sold in the same month last year. 

• Maruti Suzuki India:The country's largest carmaker recorded total sales of 1.84 lakh units in September 2024, marking a 1.9% increase from the 1.81 lakh units sold in the same month last year. Total domestic sales fell by 1.15% to 1.57 lakh units, as domestic passenger vehicle sales dropped by 3.9% to 1.45 lakh units. 

• Dabur India:While demand trends showed some improvement, heavy rain and floods across parts of the country impacted out-of-home consumption and consumer offtake during Q2FY25. This led to some negative impact on its business, especially in the beverage category. 

• South Indian Bank:The lender recorded gross advances at Rs 84,741 crore (provisional numbers) for Q2FY25, growing by 13.07% from Rs 74,947 crore in the same quarter last year. 

• ITC:ITC Infotech India, a subsidiary of the company, has acquired 100% shares of Blazeclan Technologies for Rs 485 crore. Consequently, Blazeclan and its subsidiaries have become step-down wholly owned subsidiaries of the company, effective October 1.

• Allcargo Logistics:The board has approved the sale of company's 7.6% equity stake in Haryana Orbital Rail Corporation to promoter group company Allcargo Terminals for Rs 115 crore.

• International Conveyors:Shareholders have approved the re-appointment of RK Dabriwala as Managing Director of the company for three years, and the appointment of Narayan Tulsiram Atal as Non-Executive Independent Director for five years.

• Coal India:Coal production in September fell by 1% to 50.9 million tonnes, compared to 51.4 million tonnes in the same month last year. Offtake declined by 1.4% year-on-year to 54.4 million tonnes during September.

• Aurobindo Pharma:The company has received final approval from the USFDA to manufacture and market Cephalexin tablets USP, 250 mg and 500 mg, in the US. The drug is bioequivalent and therapeutically equivalent to Keflet tablets from Eli Lilly and Company. 

• SMS Pharmaceuticals:The company has received EUGMP certification for its Visakhapatnam facility following an inspection conducted from February 28 to March 1, 2024, for its Ibuprofen dossier. The European Directorate for the Quality of Medicines & HealthCare (EDQM) confirmed the facility's compliance with quality management standards based on EU rules governing medical products.

• Dilip Buildcon:The company has transferred its 26% stake in its wholly owned subsidiaries—Bangalore Malur Highways, Malur Bangarpet Highways, and Narenpur Purnea Highways—to Alpha Alternatives Holdings for Rs 236.3 crore.

Market Indication:-

Global: NEGATIVE

NIFTY: NEGATIVE

BANKNIFTY: NEGATIVE

PCR:The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 0.83 on October 1, from 0.84 levels in the previous session.

BULK Deals: SpiceJet,Tiger Logistics India etc.

Stocks In F&O Ban Period:Bandhan Bank, Hindustan Copper, RBL Bank and Birlasoft

Results Today: Nil

GIFT NIFTY:  (Negative) 

25701    -329.00    -1.26%

FII-DII: FIIs were net sellers of Rs.5579.35 crores whereas DIIs were net buyers of Rs.4609.55 crores in cash market for last trading session.

NIFTY (25797) The support for the Nifty is: 25750-25710-25645 and the Resistance to the up move is at: 25879-25919-25985 levels.

BANKNIFTY (52922): The support for BankNifty is: 52832-52735-52575 and the Resistance to the up move is at 53151-53250-53410 levels.

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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