Bulls on the ride-Break and sustain above 18170 is further upside
POSITIVE
Today’s Market Prediction:
#Indian stock market Would open Gap up POSITIVE
# Technically, Nifty is still in the Negative zone whereas Bank Nifty is still in the Negative zone.
#Nifty index formed a high wave kind of pattern on the daily charts.
#India VIX dropped by 2.18 percent to 15.57 levels.
#US inflation rises less than expected to 7.7% in October.
#FPI investment in debt turns negative in October.
#Zomato Q2 loss narrows to Rs 251 crore, revenue jumps 62%.
#Lic make profit of Rs. 15,952 Cr.
#Inflow in equity funds slows down in October; SIP inflows cross Rs 13,000-crore mark
#Adani Power: The company has entered into a Memorandum of Understanding to sell its 100 percent equity stake in subsidiary, Support Properties (SPPL) to Adani Connex. The transaction value is Rs.1,556.5 crore.
#DCX Systems: The company will make its grand debut on the bourses on November 11. The issue price is Rs. 207 per share. Analysts largely expect the stock to list with 35-40 percent premium over issue price.
Stocks in NEWS :
#Eicher Motors: The automobile company registered highest ever quarterly revenue and profits. It recorded a massive 76 percent year-on-year growth in profit at Rs.657 crore for the quarter ended September FY23 backed by strong operating as well as top line performance.
#Zomato: The food delivery giant posted net loss at Rs. 251 crore for the quarter ended September FY23, narrowing sharply from loss of Rs. 430 crore in same period last year with strong top line and improving operating performance.
#Apollo Hospitals Enterprises: The healthcare services provider reported a 20 percent year-on-year decline in profit at Rs.212.8 crore for the quarter ended September FY23 impacted by weak operating performance, and higher purchases of stock-in-trade.
#Jindal Steel & Power: The company has recorded a 92.3 percent year-on-year decline in consolidated profit at Rs.200 crore for the quarter ended September FY23, impacted by dismal operating performance and fall in top line.
#Bata India: The footwear company has reported 37.7 percent year-on-year increase in standalone profit at Rs 51.1 crore for the quarter ended September FY23 backed by strong operating performance and top line.
#Adani Green Energy: The company recorded a massive 49 percent year-on-year increase in consolidated profit at Rs.149 crore for Q2FY23 led by lower cost of materials sold and finance cost.
#Indian Hotels: The company recorded consolidated profit at Rs.121.6 crore for quarter ended September FY23, against loss of Rs.120.6 crore in same period last year on better top line and operating performance.
#Alkem Laboratories: The pharma company has received Form 483 with 3 observations from US FDA for its manufacturing unit in St. Louis, USA. There is no data integrity observation.
Market Indicators:-
Global: POSITIVE
NIFTY: POSITIVE
BANKNIFTY: POSITIVE
BULK Deals: FSN E-Commerce Ventures etc.
Stocks In F&O Ban Period: Punjab National Bank
Results Today: Hindalco Industries, Mahindra & Mahindra, Life Insurance Corporation of India, ABB India, Adani Power, Alkem Laboratories, Alembic Pharmaceuticals, Ashoka Buildcon, Astral, Astrazeneca Pharma India, Bharat Dynamics, BHEL, Delhivery, Dhani Services, Easy Trip Planners, Emami, Exide Industries, Fortis Healthcare, GSK Pharma, Glenmark Pharma, Hindustan Aeronautics, Ipca Laboratories, Lemon Tree Hotels, Pfizer, Sun TV Network, Thermax, Ujjivan Financial Services, Zee Entertainment Enterprises, and Zydus Lifesciences
SGX NIFTY: (Positive)
18431 +334.00 +1.85%
FII-DII: FIIs were net buyers of Rs.36.06 crores whereas DIIs were net sellers of Rs.967.13 crores in cash market for last trading session.
NIFTY (18028) The support for the Nifty is: 17982-17951-17900 and the resistance to the up move is at: 18085-18115-18165 levels.
BANKNIFTY (41603): The support for Bank Nifty is: 41398-41321-41197 and the resistance to the up move is at 41646-41723-41850 levels.