Friday’s Pick
SENSEX 13 SEP 82500CE Profit : 14000+ Per 10 Lot
IOL CHEM & PHARMA LTD Profit : 7000 ,7% return(Quantity 200)
BANKNIFTY 18 SEP 52000CE Profit : 15000+ Per 10 Lot
BANKNIFTY 18 SEP 51500CE Profit : 15000+ Per 10 Lot
SENSEX 13 SEP 83000CE HERO ZERO TRADE Profit : 5000+ PER 10 LOT
Nifty Technical view
After a sharp rally, the market experienced some profit-taking, causing the Nifty 50 to drop by 32 points on September 13. Despite this, the index recovered all its losses from the previous week, ending with a 2% gain at a new weekly high of 25,357. Looking ahead, experts anticipate a continued positive trend. A strong close above 25,400 could push the Nifty towards 25,800. However, until this level is reached, consolidation is expected, with immediate support at 25,200 and a critical level at 25,000.
India Vix
Volatility has eased even more, dropping below the 13 mark and staying below all major moving averages, which is reassuring for bullish investors. The India VIX, a measure of market fear, fell by 4.8% to 12.55 from 13.18 on Friday, and for the week, it decreased by 17.53%.
Nifty PCR
The Nifty Put-Call Ratio (PCR) decreased from 1.44 to 1.33 on September 13th. This drop suggests that traders are buying more Call options than Put options, indicating a growing bullish sentiment in the market.
Stocks To Watch
SpiceJet: In a regulatory filing on Friday, the airline said shareholders have given their nod for the special resolution for raising funds of up to ₹3,000 crore. The no-frills carrier, which is grappling with multiple woes, including financial challenges, legal battles, and grounding of aircraft, is looking to raise money that will help it meet various obligations.
Thermax: Thermax Babcock & Wilcox Energy Solutions (TBWES), a wholly-owned subsidiary of Thermax, has received a repeat order worth ₹516 crore for setting up another 300 MW energy project from an industrial conglomerate in Botswana, Southern Africa.
Nifty and Bank Nifty Support and Resistance level
NIFTY :-
Resistance 25,450, 25,800 and 26,000
Support based 25,200, 25,000 and 24,750
BankNifty :–
Resistance :52,350, 52,750 and 53,000
Support based 51,850, 51,550, and 51,250
Index Future levels
Nifty Futures Buy At 25,400 The suggested targets for this are 25,550 and 25,750 with the stop loss set at 25,100
Bank Nifty Buy Above 52,100 index is expected to upside levels of 52,550 and 52,750 and level 51,750 will act as a stop loss.
Momentum Pick: DLF LTD
Buy above ₹ 869 | Target price: ₹ 940/960 |Stop Loss:₹ 800
DLF Ltd with its subsidiaries, associates and JVs is engaged in real estate development, from the identification and acquisition of land to planning, execution, construction and marketing of projects. It is also engaged in business of leasing, generation of power, provision of maintenance services, hospitality and recreational services which are related to the overall development of real estate business.
During FY22, the Co. launched its luxury development, ‘ONE Midtown’ and realized ~Rs. 1,952 crore of sales bookings from this project. In FY24, corresponding quarter, DLF posted a net profit of ₹526.1 crore, the company said in a regulatory filing. The company’s revenue from operations dipped 4.3% to ₹1,362.4 crore against ₹1,423.2 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA declined 42.3% to ₹228.7 crore in the first quarter of this fiscal over ₹396.2 crore in the year-ago period.
Happy Trading!
Commodity Samachar Securities
We Decode the Language of the Markets
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