News Shots

Wipro has partnered with British software company Micro Focus to streamline legacy apps migration to the cloud. Further, it has appointed Kimberly Watson as Country Head and Managing Director for Canada.

Zomato Ireland will shut down operations from December 15, 2021.

Bharti Airtel approved the allotment of 39.23 crore rights equity shares. 

Krishna Institute of Medical Sciences has entered into an agreement to acquire a 51.07% stake in Sunshine Hospitals at an enterprise value of Rs 730 crore.

Future Retail has approached the Delhi High Court against the Singapore-based tribunal’s order on its Rs 27,513-crore transaction with Reliance Retail Ltd.

L&T reported a Revenue increase of 18.5% to Rs 34,772.9 crore, while net profit was up 54.92% at Rs 1,819.45 crore both compared to last quarter. Margins and order book also grew.

Adani Ports reported a quarter on quarter fall in revenue and net profit numbers. Revenue is down 22.48% at Rs 3,532.42 crore and net profit is down 27.16% at Rs 951.71 crore.

Titan reported revenue up 2.2 times at Rs 7,493 crore, and net profit up 35.6 times to Rs 641 crore. The profit numbers were along estimates.

ITC reported revenue up 13% QoQ at Rs 14,844 crore, with net profit up 6% at Rs 3,713.76 crore.

IndusInd Bank reported net profit at Rs 1,146.73 crore, up 73% YoY with net interest income and asset quality also improving.

Bajaj Auto reported revenue up 18.6% QoQ at Rs 8,762.18 crore, with net profit up 20.1% at Rs 1,274.55 crore.

SBI Life reported a QoQ revenue increase of 76.4% at Rs 25,404.1 crore, with net profit numbers up 11% at Rs 246.6 crore.

Tata Chemicals: The company saw an increase of 88% in net profits to Rs 248 cr in the last quarter, mainly due to rebound in soda ash volumes in the US and India. The figure stood at Rs 132 cr last year for  the same period.

Adani Enterprises Consolidated Revenue up 45% YoY at Rs 13,218.02 crore , while Net profit was down 41% at Rs 212.41 crore.

Maruti Suzuki India: The auto-maker reported a 66% fall in second-quarter profit at Rs 487 cr, due to rise in input costs and chip shortage.

Major Earnings Today:

  • Bajaj Finserv
  • InterGlobe Aviation
  • SBI Cards
  • Adani Green and Adani Total Gas
  • NTPC
  • DLF
  • Tata Power
  • Marico
  • Bajaj Holdings & Investment
  • Gujarat Gas
  • Schaeffler India
  • AU Small Finance Bank
  • Indian Bank
  • Laurus Labs
  • Mahindra & Mahindra Financial Services,
  • RBL Bank,
  • Edelweiss Financial Services
  • V-Guard Industries
  • Westlife Development

What to expect today?

Yesterday, NIFTY opened with a small gap-up at 18,305 and then consolidated for five hours with failed intermittent efforts to break consolidation. Profit booking kicked in and all the sectors fell heavily taking NIFTY down and the index closed at 18210, down 58 points or 0.31%.

BANK NIFTY opened the day absolutely flat at 41,253. There was initial weakness in the index but it was followed by an up-move. BANK NIFTY faced resistance at 41,350 and then consolidated. There was a heavy fall towards the end, along with other sectors and the index finally closed at 40,874, down 364 points or 0.89%.

Though there was profit booking towards the end, NIFTY IT(+0.97%) recovered and closed in the green. NIFTY PHARMA (+0.88)also closed in the green whereas NIFTY MEDIA(-2.03%) and NIFTY METALS(-1.52%) closed deep in the red.

The European markets closed in the red mainly due to falling in mining stocks. The U.S. markets also retreated with Dow Jones and S&P 500 well in the red and NASDAQ closing flat.

The Asian markets are trading deep in the red as investors are waiting for Bank of Japan’s latest monetary policy. U.S. Futures and European Futures are trading slightly in the green. CAC40 futures is an exception as observed in the past few days, trading in the red.

SGX NIFTY is trading slightly higher at 18,232  indicating a flat to small gap-up opening in NIFTY. 

Major supports for NIFTY are at 18175, 18100, 18,040 and 18,000. We can expect resistances at 18250, 18,320-340, 18,400 and 18,500.

BANK NIFTY has support at 40,700, 40,500, 40200 and 40000. Resistances are at 41000, 41350, 41,500 and 41,830.

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 18,200.

BANK NIFTY has the highest call OI buildup at 42,000, followed by 41,500. The highest put OI build-up is at 40,000 followed by 40,500.

INDIA VIX is now at 16.83. Though VIX remains unchanged, the market shows volatile movements, especially towards the end for the past few days.

Foreign Institutional Investors net sold shares worth Rs 1,913 crores. Domestic Institutional Investors net bought shares worth Rs 473 crores.

There was heavy profit booking across all the sectors towards the end though some stocks showed strength to recover. We can expect volatile movements towards the close like the previous expiry sessions we witnessed. I will watch 18,100 on the downside and 18,340 on the upside. If NIFTY continues to break 18,050 after 18,100, I will sell call options aggressively.  

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