RepleteBell Indian Equity Market Review

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Indian Equity Market Review 29th November 2017

Indian equity benchmarks were little changed a day ahead of July-September quarter GDP data and futures and options expiry for the November series.

Meanwhile, the Indian economy likely expanded at 6.4 percent in July-September quarter, according to the latest results of a Bloomberg News survey of 46 economists conducted from Nov. 22 to Nov. 28.

The S&P BSE Sensex was little changed at 33,602.76 and the NSE Nifty 50 Index was also little changed at 10,361.

Eleven out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Realty Index’s 0.7 percent gain. On the other hand, the S&P BSE Metal Index was the top sectoral loser, down 0.55 percent.

Fab Four Stocks Of The Day

  • Kakatiya Cements: The Andhra Pradesh-based cement maker rose as much as 13 percent, the most in nearly three months, to Rs 423.80 on the back of strong earnings. Its net profit rose over four times to Rs 8.2 crore compared with Rs 1.8 crore during the same period last year. Kakatiya’s Ebitda or operating profit jumped nearly five times to Rs 12.4 crore while margin rose to 19.9 percent from 5.1 percent.
  • Technofab Engineering: The Delhi-based construction company rose as much as 20 percent, the most in over five months, to Rs 289.20 after the company bagged order worth Rs 281 crore which is backed by the Asian Development Bank, Technofab Engineering said in a stock exchange filing.
  • Power Mech Projects: Hyderabad-based integrated power infrastructure services company rose as much as 10.27 percent, the most since Nov. 3, to Rs 797 after it received manufacturing order worth Rs 357 crore under the Make in India from Andhra Pradesh government.
  • Bajaj Corp: The Rajasthan-based hair care products maker rose as much as 10 percent, the most in over seven months, to Rs 420. Trading volume was 17.6 times its 20-day average.

Stocks Gaining On Heavy Volumes

  • Tata Coffee: The Bangalore-based coffee producer rose as much as 4.47 percent to Rs 183.50. Trading volume was 19.3 times its 20-day average.
  • Techno Electric & Engineering: The Kolkata-based engineering services company rose as much as 3.65 percent to Rs 412.70. Trading volume was 16.4 times its 20-day average.
  • Bajaj Corp: The Rajasthan-based hair care products maker rose as much as 10 percent, the most in over seven months, to Rs 420. Trading volume was 17.6 times its 20-day average.
  • Alkem Labs: The stock rose as much as 8 percent, the most in over seven months, to Rs 2,135. Trading volume was 12.4 times its 20-day average.

Block Deal Alerts

  • V-Guard has 29.8 lakh shares (0.7 percent equity) change hands in two blocks on the NSE and BSE at Rs 235 per share. Stock up 1.7 percent at Rs 237.40.
  • SAIL has 18.7 lakh shares worth Rs 14.8 crore change hands in a single block.
  • ICICI Bank has 21 lakh shares cahnge hands in a single block. Stock up 0.27 percent at Rs 314.60.
  • Action Construction Equipment has 45.2 lakh shares (3.8 percent equity) change hands at between Rs 134.35-139.5 per share on NSE. Stock falls 6.1 percent to Rs 139.20.
  • GNA Axles has 10 lakh shares (5 percent equity) change hands at Rs 390.35-395.30 per share on the BSE. Stock fell as much as 5.3 percent, the most in over a month, to Rs 387.50.

Buyers and sellers were not immediately known


*News Source- Bloomberg

Technical Summary by Replete Equities for 30th November 2017

Indian Equity

Nifty is trading in a range only. Tomorrow is expiry for November series. On daily chart Nifty is not giving any sell signal till now. 10336-10452.50 is the range we need to track for next expiry.

On Hourly chart Nifty is trading in a channel.Breakdown will lead to more down levels.

NSE NIFTY is long term Bullish as the 144 days moving average of 9,866.64 is increasing. The Relative Strength Index is at 57.51 in the neutral territory. The Relative Momentum Index is at 65.79 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 105.42, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 85.22. This value is in the overbought territory.

We have detected an Isolated High at 10,409.55 one bar ago; this is usually a bearish sign that is not to be used alone!

Weekly Pivot Point Resistance and Support

The first weekly resistance level is at 10,442.30 while the second resistance level at 10,494.90. The first weekly support level is at 10,299.30 while the second support level is at 10,208.90.

Additional information:-

Tomorrow’s projected High: 10,377.13, the projected Low:10,330.08. The top 21-day Bollinger band is at: 10,481.98 while the bottom 21-day Bollinger band is at: 10,136.20.

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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