Replete Bell Indian Equity Market Update

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Replete Bell – Tuesday. 26th December 2017

Indian equity benchmarks rose to record highs led by gains in index heavyweight Reliance Industries, Bharti Airtel, Yes Bank and ICICI Bank.

The S&P BSE Sensex rose 0.21 percent or 70 points to 34,010.61 and the NSE Nifty 50 Index 0.37 percent or 38 points to 10,531.50.

All sector gauges compiled by BSE ended higher led by the S&P BSE Telecom Index’s 2.28 percent gain.

Reliance Group Shares Extend Gains

Reliance Group shares extended gains after the group’s telecom company Reliance Communications exited strategic debt restructuring plan.

  • Reliance Communications up 35 percent
  • Reliance Capital up 4.37 percent
  • Reliance Infrastructure gains 2.34 percent
  • Reliance Naval and Engineering advances 4 percent
  • Reliance Nippon Life AMC advances 1 percent
  • Reliance Power up 4 percent

Dr Reddy’s Labs Gains On Launching Cancer Injection In U.S.

Shares of the Hyderabad-based drug maker rose as much as 1.65 percent to Rs 2,371.60 after it launched Melphalan Hydrochloride for injection, a therapeutic equivalent generic version of Alkeran for injection in the U.S. approved by U.S. Food and Drug Administration (U.S. FDA), the company said in a stock exchange filing.

NHPC Rises As Motilal Oswal Initiates Coverage With Buy

The share of the state-run hydel power producer rose as much as 3.13 percent to Rs 31.30 after domestic brokerage firm Motilal Oswal initiated coverage on the stock with a ‘buy’ for a target price of Rs 37 per share.

Motilal Oswal in a note said:

  • Valuations attractive at one-time book value and 6 percent dividend yield.
  • Regulated equity to increase 35 percent, despite Subhanshiri project being on hold.
  • Under-recoveries to decline on natural attrition and approval of five tariff orders.
  • Higher dividend pay-out is boosting return on equity; room for even higher payout/buyback.
  • Earnings are at inflexion after five years of stagnation.

News Source:- Bloomberg

Technical summary for 27th December by Replete Equities

Indian Equity

Nifty made a fresh new all-time high today. there is no sign of weakness on charts. RSI, MACD & Ichimoku all are giving a bullish signal. Previously our resistance zone was 10452.50 above that we are long in Nifty for a target of 10713 & 10946.


NSE NIFTY is long-term Bullish as the 144 days moving average of 9,961.75 is increasing. The Relative Strength Index is at 65.56 in the neutral territory. The Relative Momentum Index is at 68.31 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 173.06, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 95.94. This value is in the overbought territory.

Weekly Pivot Point Resistance and Support

The first weekly resistance level is at 10,637.80 while the second resistance level at 10,782.60. The first weekly support level is at 10,211.50 while the second support level is at 9,930.00.

Additional information:-

Tomorrow’s projected High: 10,572.23, the projected Low:10,504.73. The top 21-day Bollinger band is at 10,614.66 while the bottom 21-day Bollinger band is at 10,071.19.

Replete Portfolio Performance:-

Today our Model Portfolio Advance by 2.22% compared to nifty(advance by 0.37%). we added two new stocks today in our portfolio. for more detail join our telegram channel. CLICK HERE 

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DISCLAIMER: – we are not a SEBI research analyst. Views posted here only for educational purposes. There is no liability whatsoever for any loss arising from the use of this product or its contents. This product is not a recommendation to buy or sell, but rather a guideline to interpreting specified analysis methods.  This information should only be used by investors and traders who are aware of the risk inherent in securities trading.

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Sachin Sival is the founder and CEO of Replete Equities, an options trading company that specializes in delta hedging. A self-taught trader, Sachin has a passion for volatility trading and stock trading. Sachin loves to hone his skills by reading up on new strategies and techniques as well as taking part in industry events. In addition to being a successful entrepreneur, Sachin also takes pleasure in photography - as a hobby.

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