Yesterday’s Pick
NIFTY 19 SEP 25400CE 80 POINTS🚀 Profit : 20000+ PER 10 LOTS
BANKNIFTY SEP 53500CE 50 POINTS🚀 Profit : 7500+ PER 10 LOTS
BANKNIFTY SEP 53000PE 70 POINTS🚀 Profit : 10500+ Per 10 Lot
NIFTY 19 SEP 25500PE 35 POINTS🚀 Profit : 8750+ Per 10 Lot
Nifty Technical View
The benchmark indices responded favorably to the 50 basis point cut in the federal funds rate, with the Nifty 50 climbing 235 points to surpass 25,600 during intraday trading. However, profit-taking led to a retreat, and it finished the day with a modest gain of 38 points at 25,416 on September 19. The index struggled to hold above the important upward-sloping resistance trendline, which is essential for continuing its upward trajectory toward 25,600. In the meantime, it may experience consolidation, finding support at 25,300.
India Vix
Volatility significantly decreased following the resolution of uncertainty surrounding the Federal Reserve event, offering greater reassurance to bullish investors. The India VIX, which measures market fear, dropped by 6.75% to 12.47, down from the previous level of 13.37.
FII And DII Data
On September 19th, foreign institutional investors sold Indian stocks valued at ₹2,547.53 crore, while domestic institutional investors bought stocks worth ₹2,012.86 crore.
Nifty PCR
On September 19, the Nifty Put-Call Ratio (PCR) rose to 1.26 from 1.13, signaling a bullish market sentiment as traders sold more Put options than Call options. A PCR above 0.7 indicates optimism, while a drop below 0.7 suggests a bearish outlook, with more Call options being sold than Puts.
Stocks To Watch
HDFC Bank: The bank plans to sell loans worth over Rs 90 billion in its largest transaction to date by the end of September. The sale involves pass-through certificates backed by car loans.
IIFL Finance: The company announced that the RBI has lifted restrictions on its gold loan operations. The company can now resume its lending activities after addressing previous regulatory concerns regarding loan processes.
Nykaa: The company has increased its same and next-day delivery capabilities to 110 cities, with 60 per cent of the orders fulfilled within one day. The company has significantly expanded its warehouse network, enhancing efficiency and reducing delivery times.
Nifty and Bank Nifty Support and Resistance level
NIFTY :-
Resistance 25,500, 25,650 and 26,750
Support based 25,300, 25250 and 25,080
BankNifty :–
Resistance :53,180, 53,400 and 54,000
Support based 52,800, 52,600, and 52,250
Index Future levels
Nifty Futures Buy At 25,500 The suggested targets for this are 25,650 and 25,750 with the stop loss set at 25,250
Bank Nifty Buy Above 53,250 index is expected to upside levels of 53,400 and 53,600 and level 52,950 will act as a stop loss.
Momentum Pick: ENDURANCE TECHNO. LTD
Buy above ₹ 2553 | Target price: ₹ 2800/2900 |Stop Loss:₹ 2450
Endurance Technologies is engaged in the business of manufacturing and selling of aluminium die casting (including alloy wheel), suspension, transmission and braking products with operations spread across India. The company was started by Anurag Jain with the help of his uncle Rahul Bajaj (The chairman of Bajaj group of companies) in 1985. Initially the company did only Aluminum die casting work for Bajaj Auto and Bajaj auto was their sole client till 2004 and the company ventured into various segments only after 2004.
In FY 24-25, Endurance Technologies declared their Q1 results on 13 Aug, 2024. The topline increased by 15.33% & the profit increased by 24.68% YoY. As compared to the previous quarter the revenue grew by 5.24% and the profit decreased by 3%. The Selling, general & administrative expenses rose by 10.28% q-o-q & increased by 14.37% Y-o-Y. Despite these rising expenses, the company managed to record a significant year-over-year profit growth.
Happy Trading!
Commodity Samachar Securities
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