RepleteBell Indian Equity market Update

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Indian Equity market Update 08th November 2017

Indian equity benchmarks fell for second straight day dragged down by index heavyweights Bharti Airtel, Reliance Industries, ICICI Bank and Tata Motors.

The S&P BSE Sensex fell 0.46 percent to 33,218.81 and the NSE Nifty 50 Index declined 0.45 percent to 10,303. The losses were broad-based as the S&P BSE MidCap Index declined 0.77 percent and the S&P BSE SmallCap Index fell 0.96 percent.

Seventeen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal Index’s 1.55 percent drop. On the other hand, the S&P BSE Information Technology Index was the top sectoral gainer, up 0.4 percent.

Buzzing Stocks

DCM Shriram: The Delhi-based packaged food company rose as much as 10.28 percent to record high of Rs 595 on the back of strong earnings.

  • Revenues rose 17.5 percent to Rs 1,605 crore versus Rs 1,365.5 crore (YoY)
  • Net profit jumped 88 percent to Rs 172 crore versus Rs 91.5 crore (YoY)
  • Ebitda or operating profit more than doubled to Rs 291 crore versue Rs 122 crore
  • Margin expanded to 18.1 percent versus 8.9 percent (YoY)

Greenply Industries: The Kolkata-based manufacturer of plywood and wooden boards rose as much as 7.9 percent to record high of Rs 337.60. Trading volume was 25.5 times its 20-day average.


TeamLease Surges To Record High On Buying Stake In Online Learning Firm

Shares of the Bangalore-based staffing and human resource service provider rose as much as 19 percent, the most since listing, to record high of Rs 1,980 after it signed an agreement to buy 40 percent stake in Schoolguru Eduserve for an enterprise value of Rs 43 crore.

Schoolguru Eduserve Private Limited is an online learning company that works with 18 Universities.

Hotel, Resort Operators Gain On Hopes Of Lower GST

Shares of the hotel and resort operators were trading higher after Finance Minister Arun Jaitley yesterday hinted at pruning the list of items in the highest Goods and Services Tax bracket of 28 percent.

The GST Council is scheduled to meet next on Nov. 10 and may consider lowering tax rates on a host of goods such as handmade furniture, plastic products and daily use items like shampoo.

  • Viceroy Hotels rises 9 percent
  • Blue Coast Hotels jumps 22 percent
  • TGB Banquets and Hotels rises 2.4 percent
  • Asian Hotels West gains 2.4 percent
  • Taj GVK Hotels up 3.2 percent

Technical summary for 09th November 2017

NSE NIFTY break our support level of 10336 and close below at 10303.15 today. On hourly chart first time it close below the cloud in ichimoku once it start it’s upward journey from 9687 levels. According to Fibonacci 10300 is a strong support now, close below will lead to 10183.55 & 10088.73 levels. Long term trend is up.

NSENIFTY is long term Bullish as the 144 days moving average of 9,765.74 is increasing. The Relative Strength Index is at 55.83 in the neutral territory. The Relative Momentum Index is at 75.84 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 167.95, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 17.94. This value is in the oversold territory.

Additional information:-

Tomorrow’s projected High: 10,343.70, the projected Low:10,244.95. The top 21-day Bollinger band is at: 10,534.03 while the bottom 21-day Bollinger band is at: 10,005.45.

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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