RepleteBell Indian Equity Market Review

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Indian equity benchmarks rose for the sixth day in a row led by gains in Infosys and Reliance Industries. However, the gains were capped as HDFC twins witnessed some amount of selling pressure.

The S&P BSE Sensex was little changed at 33,588 and the NSE Nifty 50 Index was also little changed at 10,348.75.

Thirteen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal Index’s 1.2 percent drop. On the other hand, the S&P BSE Information Technology Index was the top sectoral gainer, up 0.95 percent.

Stocks Moving On Heavy Volumes


  • The stock rose as much as 17.7 percent to Rs 389.90.
  • Trading volume was 19.8 times its 20-day average.

Praj Industries

  • The stock rose as much as 20 percent to Rs 105.95.
  • Trading volume was 7.6 times its 20-day average.

Security & Intelligence Service

  • The stock rose as much as 18.8 percent to Rs 1,070.
  • Trading volume was 9.2 times its 20-day average.

Speciality Restaurants

  • The stock rose as much as 2 percent to Rs 171.10.
  • Trading volume was 5.1 times its 20-day average.

Jewellery Retailers Gain On Sentimental Boost

Shares of jewellery makers were trading higher on a sentimental boost after domestic brokerage Motilal Oswal initiated coverage on PC Jewellers with a ‘buy’ for a target price of Rs 490.

  • PC Jeweller rose 1.6 percent
  • Gitanjali Gems advanced 6.5 percent
  • Tribhovandas Bhimji Zaveri gained 3.6 percent
  • Tahngamayil Jewellery jumped 5 percent
  • Renaissance Jewellery advanced 3.5 percent
  • Titan Company rose 2 percent

Security And Intelligence Services Hits Record High As Profit Triples In Q2

Shares of the Delhi-based security service provider rose as much as 15.9 percent, the most in over three months, to record high of Rs 1,043.60 after its net profit tripled in July-September quarter.

  • Revenue up 35.7 percent at Rs 1,460 crore
  • Net profit up 318.4 percent at Rs 59 crore
  • EBITDA up 51.3 percent at Rs 74 crore
  • Margin at 5.1 percent from 4.6 percent

*News Source-Bloomberg

Technical Summary by Replete Equities for 24th November 2017

Nifty is trading in a range only. 10300-10370 is the range, for now, breakout or breakdown will lead to further levels. Momentum is increasing but Ichimoku indicator is Neutral territory.

NSENIFTY is long term Bullish as the 144 days moving average of 9,837.31 is increasing. The Relative Strength Index is at 58.24 in the neutral territory. The Relative Momentum Index is at 61.92 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 99.67, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 100.00. This value is in the overbought territory.

Weekly Pivot Point Resistance and Support

The first weekly resistance level is at 10,386.80 while the second resistance level at 10,490.00. The first weekly support level is at 10,137.20 while the second support level is at 9,990.80.

Additional information:-

Tomorrow’s projected High: 10,361.52, the projected Low:10,294.52. The top 21-day Bollinger band is at: 10,443.49 while the bottom 21-day Bollinger band is at: 10,109.96.

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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