MONDAY 

29-APR-2024

 

Until unless Market doesn't go and sustain above 22450 Buyers will have less interest- Midcpnifty expiry

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 Bearish candlestick pattern on the daily charts.
• India VIX up by 1.81 percent to 10.93 levels.
• Maruti Suzuki Q4 net profit rises 48%
• HCLTech Q4 net profit marginally higher at Rs 3,986 crore
• ICICI Bank Q4 net profit jumps 17% to Rs 10,707 crore
• Yes Bank Q4 net profit jumps 123% to Rs 451 crore
• RBL Bank Q4 net profit up 30% to Rs 353
• NBCC: The construction company has received in-principle approval for the incorporation of a wholly owned subsidiary in Dubai (UAE). 
• Indian Renewable Energy Development Agency: The Department of Public Enterprises has granted Navratna status to the company.

Stocks in NEWS:-

• Maruti Suzuki India: The country's largest car maker has recorded standalone net profit at Rs 3,878 crore for quarter ended March FY24, growing 47.8 percent over a year-ago period partly driven by strong operating numbers and higher other income, but overall numbers below analysts' expectations.

• Vodafone Idea: ATC Telecom Infrastructure has exited the telecom operator by selling its entire shareholding of 144 crore equity shares (equivalent to 2.87 percent of paid-up equity) at an average price of Rs 12.78 per share via open market transactions, which valued at Rs 1,840.3 crore.

  HCL Technologies: The global IT services company has reported net profit at Rs 3,986 crore for March FY24 quarter, falling 8.4 percent over previous quarter impacted by weak operating numbers, and overall numbers came in below analysts' estimates. 

• SBI Life Insurance Company: The insurance company has recorded net profit at Rs 810.8 crore for January-March FY24 quarter, growing 4.4 percent over a year-ago period. Net premium income for the quarter grew by 26.2 percent year-on-year to Rs 25,116.5 crore and net commission at Rs 851.4 crore declined by 2.3 percent during the same period.

• RBL Bank: The private sector lender has reported standalone net profit of Rs 353 crore for the March FY24 quarter, rising 30 percent over the same period in the in the previous fiscal year with lower provisions and a sharp increase in operating profit and other income.

• ICICI Bank: The private sector lender has recorded standalone net profit at Rs 10,707.5 crore for quarter ended March FY24, growing 17.4 percent over a year-ago period on lower provisions for bad loans. Overall, earnings were ahead of analysts' estimates. 

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, fell to 0.96 on April 26, from 1.28 levels in the previous session.

BULK Deals: Justdial, PTC india,Kaveri seeds limited etc.

Stocks In F&O Ban Period: Vodafone Idea

Results Today: UltraTech Cement, Birlasoft, Can Fin Homes, Fedbank Financial Services, Indostar Capital Finance, Jana Small Finance Bank, KFin Technologies, KPIT Technologies, PNB Housing Finance, Poonawalla Fincorp, Shipping Corporation of India Land and Assets, Shoppers Stop, Spandana Sphoorty Financial, Tata Chemicals, Trent, and UCO Bank

GIFT NIFTY:  (Positive)

22647   +57.50    +0.25%

FII-DII: FIIs were net sellers of Rs.3408.88 crores whereas DIIs were net buyers of Rs.4356.83 crores in cash market for last trading session.

NIFTY (22420) The support for the Nifty is: 22386-22330-22240 and the Resistance to the up move is at: 22441-22620-22710 levels.

BANKNIFTY (48201): The support for BankNifty is: 48097-47957-47730 and the resistance to the up move is at 48255-48670-48920 levels.

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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