DK Technical Analysis by Dhananjay Kadam

2023-05-19 06:43:37 News and Impact 
 
 
·      Expects markets to open on a positive note on account of rally in the across the global market as hope grew for a U.S. debt ceiling deal. Optimism for a US debt-ceiling deal, fall in US Job data along with Housing data and better than expected Walmart results lifted Nasdaq by 1.5% to close at 13-month high and S&P 500 advance 1% to close 9-month high. Markets expect that Fed will start cutting interest rates in the second half of the year after the US existing Home Sales decreased by 3.4% month-over-month in April. On the other hand, US House Speaker Kevin McCarthy said a debt-limit deal will likely be considered on the House floor next week and told reporters discussions were in a “much better place” than before. A positive earnings outlook from consumer bellwether Walmart Inc. also added fuel in the market sentiment. However, US dollar Index surged to 2-month high and spiked in US 10-year and 2-year bond yield is a concern in the market. Asian markets open on a positive note and marginally gain US Future. SGX Nifty advance quarter percent today. Yesterday, Nifty declined over half percent from the intra-day high and fell in the last three trading sessions on account of profit booking. Strong FIIs inflow, good quarterly results and impressive micro data will be positive for the market sentiment. Recent fall (Sensex declined 900 points last 3-day) is a good opportunity to buy on domestic equity. We are positive on banks, auto, NBFC and defense stocks. Both SBI and ITC announced impressive Q4 results yesterday. Defense stocks will be focus after the news that the HDFC Mutual Fund will launch India's first defence fund.
 
·      US Market –. US stocks closed higher on mounting optimism that a debt ceiling deal could be reached within days, with discount retailer Walmart providing additional support after an upbeat
·      annual sales forecast. Nasdaq Composite surged 1.5% to close 13-month high while S&P 500 gained nearly 1% to close 9-month high
 
·      Global market summary – Nasdaq closed 13-month high, S&P 500 closed 9-month high, US Dollar Index spiked to 2-month high of above 103, US 10-Year yield surged to 1-month high at 3.63 and over 1-month high of 4.21%. Gold price fell to 6-week low, Japan CPI spiked to 40-year high at 3.4%
 
·      Asian Market – Asian stocks advanced alongside US equity futures on rising hopes that lawmakers in Washington will avert a first-ever US default. Shares in Japan, Australia and South Korea all edged higher by half percent. The advance for the Topix Index placed the gauge of Japanese blue chips on course for its best week since November and a fresh 33-year high.
 
·      European Market –  European stocks bounced after two days of losses following Wednesday’s gains on Wall Street, as investors were optimistic about a breakthrough in US debt-ceiling talks.  Both Germany and France Index gained 1% higher while UK Index gained 0.3%.
 
·      Oil –  Oil declined marginally to below $76/bbl headed on account of slowdown in the global demand and optimism that the US will avert a catastrophic debt default.
 
·      Gold –  Gold declined 2% to 6-week low at $1955/ounce (fell to below 20-DMA) as traders tracked talks to resolve the US debt-ceiling impasse and dissected comments from a slew of Federal Reserve officials on the outlook for interest rates.
 
·      Previous Day market Update –Equity benchmark Nifty reverse the intra-day gain and declined for third trading sessions on account of profit in heavyweights ITC, SBI, L&T, Hindustan Unilever and Maruti. Nifty dropped 52 points or 0.3% to end at 18,130 while touched intra-day high of 18297. PSU Bank Index slipped nearly 2% after the banking major SBI announced Q4 results. FMCG index slipped over 1% lower after ITC announced Q4 result which was in line with expectation. Nifty realty index nosedived over 2% followed by pharma, mid-cap and small cap sectors. Sensex declined 129 points or 0.21% to settle at 61,432. Sensex fell 900 points or 1.5% in the three trading sessions. Open / Comment

2023-05-19 05:33:10 *Morning Bullets FOR 19-May-2023*

Cash Nifty closed at 18130. Nifty corrected around 52 points. Today is also a down day and tomorrow is the last day of trading week so weekly closing is going to become very important. Today we have observed there was a slow sign of distribution; maybe it was due to weekly expiry. If tomorrow, we get any rebound and manage to maintain closing above 18200 then only we can say the present up trend is intact. On the down side 18090 is a very crucial level, if the market closes below this level then our down side target will be 17600.

*Suggestion for Today: Nifty (Fut.)* - Take a long position around 18130.00 with SL 18090.00 TARGET 18250.00

*Intraday* buy CHOLAFIN around 1045.00 SL 1032.00 TARGET1 1065.00 and TARGET2 1075.00

*Levels of Nifty (Fut.)*:S2-18043, S1-18109, P-18217, R1-18283, R2-18391

*Levels of Bank Nifty (Fut.)*:S2-43503, S1-43639, P-43849, R1-43985, R2-44194 Open / Comment

2023-05-18 11:52:47 Our investment stock of the 2023


USHA MARTIN


MADE LIFETIME HIGH TODAY


239

Almost 40% profit from January till now


(compare with bank or mutual fund not with option )


Recommended on 2nd January in article of smart investment and this channel Open / Comment

2023-05-18 11:50:33 Telegram Open / Comment

2023-05-18 10:55:29 TANLA


on 2nd MAY 2023
RECOMMENDED TO BUY


BETWEEN 665--680


Today 783



All Target achieved



Open / Comment

2023-05-18 10:54:47 Telegram Open / Comment

2023-05-18 07:19:35 Delivery / position call

ROHLTD

BUY BETWEEN 350--360

SL 335

TGT - 430+

TF 22 DAYS Open / Comment

2023-05-18 06:11:14 Open / Comment

2023-05-18 06:06:12 * India Daybook – Stocks in News*

*Thermax:* Net profit up 52.1% at Rs 156 cr Vs Rs 103 cr, Revenue up 16% at Rs 2,310.8 cr Vs Rs 1,992 cr (YoY) (Positive)

*MTAR tech:* Net profit at Rs 31 cr vs Rs 20 cr, Revenue at Rs 196 cr vs Rs 96 cr YoY (Positive)

*Jindal Saw:* Net profit at Rs 294 cr vs Rs 122 cr, Revenue at Rs 5180 cr vs Rs 3970 cr YoY (Positive)

*JK Tyre:* Net profit at Rs 108.4 cr Vs Rs 40 cr, Revenue up 9.7% at Rs 3,632.5 cr Vs Rs 3,311.8 cr (YoY) (Positive)

*MM Forging:* Net profit at Rs 30.6 cr Vs Rs 7 cr, Revenue up 20.2% at Rs 387.4 cr Vs Rs 322.4 cr (YoY) (Positive)

*Railtel:* Net profit at Rs 76.0 cr Vs Rs 54.0 cr, Revenue at Rs 703.0 cr Vs Rs 465.0 cr (YoY) (Positive)

*Honeywell:* Net profit at Rs 112.0 cr Vs Rs 72.6 cr, Revenue at Rs 850.0 cr Vs Rs 668.0 cr (YoY) (Positive)

*NHPC:* Company gets Letter of Intent from Gujarat Urja Vikas Nigam Limited for 200 MW solar power project (Positive)

*Lemon Tree Hotels:* Company signs licence agreement for an 82-room property in Gomti Nagar, Lucknow (Positive)

*HDFC Bank:* RBI allows SBI Funds Management to buy upto 9.99% stake in HDFC Bank & advises to acquire upto 9.99% in HDFC Bank within 6 months (Positive)

*JSW Steel:* Company emerges as Preferred Bidder for composite licence of an unexplored Iron Ore mine in Maharashtra (Positive)

*Future Retail:* The lenders of debt-ridden Future Retail Ltd have received six bids from prospective buyers (Positive)

*REC:* Net profit up 33.2% at Rs 3,065.4 cr Vs Rs 2,301 cr, Revenue up 6.3% at Rs 10,243.1 cr Vs Rs 9,633.4 cr (YoY) (Neutral)

*ICICI Pru:* Company appoints Dhiren Salian as CFO, effective May 18 (Neutral)

*IB Real:* The real estate firm said the board has approved the appointment of Manish Kumar Sinha as the CFO (Neutral)

*Restaurant Brands:* Net loss of Rs 73.3 cr Vs loss of Rs 67 cr, Revenue up 28.6% at Rs 514 cr Vs Rs 400 cr (YoY) (Neutral)

*GSK Pharma:* Revenue down 2.7% at Rs 787.5 cr Vs Rs 809.6 cr, EBITDA down 3% at Rs 169.7 cr Vs Rs 175.2 cr (YoY) (Neutral)

*DMCC:* Net profit up 80% at Rs 6.7 cr Vs Rs 4 cr, Revenue down 7% at Rs 94.6 cr Vs Rs 101.6 cr (YoY) (Neutral)

*Teamlease:* Net profit down 22.4% at Rs 23.9 cr Vs Rs 31 cr, Revenue up 11.5% at Rs 2,027.3 cr Vs Rs 1,817.4 cr (YoY) (Neutral)

*JSW Ispat:* Net profit down 82.4% at Rs 0.58 cr Vs Rs 3.3 cr, Revenue down 2.3% at Rs 1,649 cr Vs Rs 1,687.8 cr (YoY) (Neutral)

*Endurance:* Net profit at Rs 136 cr vs Rs 135 cr, Revenue at Rs 2234 cr vs Rs 2079 cr YoY (Neutral)

*Sheela:* Net profit up 6.8% at Rs 52.3 cr Vs Rs 49 cr, Revenue down 2.4% at Rs 281.2 cr Vs Rs 288.2 cr (YoY) (Neutral)

*Electrosteel casting:* Net profit at Rs 101 cr vs Rs 122 cr, Revenue at Rs 1761 cr vs Rs 1555 cr YoY (Neutral)

*Hitech:* Net profit at Rs 8.8 cr vs Rs 8.3 cr, Revenue at Rs 128 cr vs Rs 150 cr YoY (Neutral)

*Vaibhav Global:* Net profit at Rs 23.3 cr vs Rs 26.9 cr, Revenue at Rs 692 cr vs Rs 685 cr YoY (Neutral)

*Sheela Foam:* Net profit down 9% at Rs 44.8 cr Vs Rs 49 cr, Revenue down 1% at Rs 729 cr Vs Rs 736.8 cr (YoY) (Neutral)

*Whirlpool:* Net profit down 25.2% at Rs 62.9 cr Vs Rs 84 cr, Revenue down 2% at Rs 1,672.7 cr Vs Rs 1,707 cr (YoY) (Negative)

*Jindal Stainless:* Net profit down 12.8% at Rs 765.8 cr Vs Rs 878 cr, Revenue up 0.4% at Rs 9,765 cr Vs Rs 9,726 cr (YoY) (Negative)

*Deepak Fertilizer:* Net profit down 9% at Rs 254.9 cr vs Rs 280 cr, Revenue up 39% at Rs 2,795.5 cr vs Rs 2,012.5 cr (YoY) (Negative)

*Sanghi Ind:* Net Loss at Rs 104.5 cr Vs Rs 6.2 cr profit, Revenue at Rs 224.0 cr Vs Rs 352.0 cr (YoY) (Negative) Open / Comment

2023-05-17 12:04:05 TANLA


on 2nd MAY 2023
RECOMMENDED TO BUY


BETWEEN 665--680


Today 757


Today 13% UPPPPPP



Both Target achieved



Open / Comment