News Shots

PB Fintech, the parent PolicyBazaar and PaisaBazaar will list on the market today after raising Rs 5,625 crore via IPO. A 15-20% listing gain is expected over its issue price. 

Sigachi Industries and SJS Enterprises will also get listed today.

Hero MotoCorp, the market leader in two-wheelers, reported a 22% fall YoY in consolidated net profit to Rs 747.79 crore in Q2, due to lower sales.

Maruti Suzuki said it plans to integrate models with CNG across its product range as it remains confident of the long-term prospects of the segment as petrol prices increase. The company also received clearance from the Haryana government to set up a new plant over 900 acres of land in the state.

ONGC reported the highest ever quarterly net profit by any Indian firm of over Rs 18,347 crore as it made a one-time tax gain on opting for a lower rate regime.

Grasim Industries reported a 27.36% YoY increase in its consolidated net profit to Rs 2,032.41 crore for the second quarter ended in September 2021. 

BSE reported a 39% increase YoY in net profit to Rs 65.14 crore Q2.

Apollo Hospitals reported an over a fourfold jump in its consolidated net profit to Rs 267.41 crore for the quarter ended September 30, as non-COVID revenue increased.

Aster DM Healthcare is considering splitting up its  Gulf and India units. May make a demerger decision within three months, said Chairman Azad Moopen.

Brigade Enterprises, the Bengaluru-based realty firm’s sales increased by 59% to Rs 1,310.6 crore in the first half of this financial year. It was boosted by a revival in housing demand and low-interest rates on home loans. Puravankara’s sales bookings grew by 20% to Rs 597 crore during Q2.​​

Manappuram Finance reported an 8.8% YoY fall in its consolidated net profit to Rs 369.88 crore in Q2, due to lower interest income.

What to expect today?

On Friday, NIFTY opened with a gap-up at 17,980 and tried moving up. It was an absolute trending up-move that followed, breaking the level of 18,000 and 18,100. NIFTY ended the day at 18,103, up 229 points or 1.28%.

BANK NIFTY opened Friday with a gap-up at 38,733 and started falling. After taking support near 38,500, the index bounced back and started its up-move to break resistances at 38,600 and day-high. The index closed at 38,733, up 73 points or 0.45%.

All the sectors moved up, except NIFTY MEDIA(-0.13%).

The Asian markets are mixed. U.S. Futures and European Futures are trading slightly in the green.

SGX NIFTY is trading slightly higher at 18,221 indicating a gap-up opening in NIFTY. 

Major supports for NIFTY are at 18,050, 18,000, 17,940, 17,880 and 17,835. We can expect resistances at 18,175, 18,200, 18,230, 18,320 and 18,400.

BANK NIFTY has support at 38,600, 38,500,  38,350 and 38,000. Resistances are at 39,000, 39,300, 39,500, 39,750 and 40,000.

The highest call OI build up in NIFTY is at 18,500, followed by 18,300 and the highest put OI build-up is at 18,000, followed by 17,900.

BANK NIFTY has the highest call OI build-up at 39,000, followed by 39,500 and the highest put OI build-up at 38,500, followed by 38,000.

INDIA VIX is at 15.2 now, dropping by nearly 7%, showing that the fear in the market is reducing.

Both FIIs and DIIs were net buyers on Friday. Foreign Institutional Investors net bought shares worth Rs 511 crores. Domestic Institutional Investors net bought shares worth Rs 851 crores. 

The October CPI for India increased to 4.48% and was higher than expected. Index of Industrial Production data also was released which was weaker than the expectations. We have to see how our market reacts to it in the first hour.

We have seen a change in mood for FIIs on Friday, and the markets moved up. If the trend continues, we can expect bulls to be strong in the market. 38,500 is expected to be a strong support for BANK NIFTY in the coming days.

In BANK NIFTY, options data suggests that there are aggressive positions taken for the index to stay within 38,500 and 39,000. If these levels are broken, expect a good move in that direction.

Major Q2 results are already out, and India’s festive season is now over. In the market, there is a large Put OI build-up at 18,000 in NIFTY, indicating bullishness. 17,800 will act as a very strong support for the coming weeks. On the upside, 18,500 is a psychological resistance and the all-time high is at 18,600. I will watch 18,000 on the downside and 18,230 on the upside for major moves.

Follow us on marketfeed app’s livefeed section to get real-time updates from the market. All the best for the day!

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