Nifty Stalled: Sideways Shuffle or Breakout Brewing?

Yesterday’s Profits:

NIFTY 25 APR 22450CE Rs 3000 (Per 2 Lot )
BTST GRSE Rs 11400 ( 200 Quantity )
MAZDOK Cash Buy Rs 11400 (200 Quantity)

Nifty Technical View:

The Nifty is displaying some interesting technical signals. The small bearish candlestick pattern with a minor upper shadow resembling a Doji on the daily charts suggests indecision among traders. This uncertainty is accentuated by the pattern occurring at a critical resistance level of 61.8 percent retracement and a bearish gap. Looking ahead, the 22,500 level appears to be a significant resistance point, especially considering it coincides with the monthly expiry day. However, if there’s a sustained trade above the range of 22,500-22,550, it could signal further upward movement. This movement might be fueled by contract adjustments, indicating a potential shift in sentiment or positioning among market participants.

Indian Vix

The India VIX, which measures market volatility, rose by 0.78 percent to reach 10.28 yesterday. This increase followed a significant drop of nearly 20 percent in the previous session.

Nifty and Bank Nifty Support and Resistance level:

Nifty :-

Resistance 22,456, 22,478 and 22,513 levels.
Support 22,386, 22,364 and 22,329 levels.


Resistance 48,238, 48,289 and 48,372
Support 48,072, 48,020 and 47,937

Index Future levels

Nifty Futures buy near 22450. The suggested targets for this are 22,600 and 22650, with a stop loss set at 22,300.

Bank Nifty future buy above 48,400 , the index is expected to see upside levels of 48,550 and 48,700, and level 48,200 will act as a stop loss.

Stocks in the news:
Axis Bank:The private sector lender has posted a standalone net profit of Rs 7,130 crore for the March FY24 quarter, a significant turnaround from a loss of Rs 5,728.4 crore in the same period last fiscal year, despite setting aside higher provisions for bad loans. Net interest income increased by 11.5 percent year-on-year to reach Rs 13,089 crore for the quarter, while the net interest margin stood at 4.06 percent.

Hindustan Unilever: The FMCG major reported a standalone net profit of Rs 2,406 crore for the quarter ended March FY24, representing a 5.7 percent decrease compared to the same period last year. This decline in profit can be attributed to weak top-line as well as operating performance. Revenue from operations saw a marginal decrease of 0.2 percent year-on-year, amounting to Rs 14,857 crore for the quarter, despite a 2 percent growth in volume.

Todays Fundamental : Tata Motors
BUY 991| TGT 1062|TGT 1080| Stop Loss 956

Tata Motors is a global automobile manufacturer based in Mumbai, Maharashtra, India, offering a wide range of vehicles including commercial, passenger, electric, and defence vehicles, as well as trucks and buses. The company also provides engineering services, automotive solutions, and manufactures construction equipment and automotive vehicle components through its subsidiaries. One of Tata Motors’ notable achievements is its Nexon EV model, which has made a significant impact in the electric vehicle (EV) sector, showcasing the company’s commitment to sustainable transportation solutions in India’s growing EV market. With a presence in Asia, Europe, Russia, the Middle East, Central America, South America, North America, Oceania, and Africa, Tata Motors operates globally, serving diverse markets and customers.

Tata Motors Ltd experienced a significant increase in revenue, rising by 25.06% compared to the same period last year, reaching ₹1,12,075.94 Crore in Q3 2023-2024. On a quarterly basis, the company achieved a 4.98% growth in revenue over the past three months. In terms of net profit, Tata Motors Ltd saw a substantial jump of 137.52% since the same period last year, amounting to ₹7,025.11 Crore in Q3 2023-2024. On a quarterly basis, there was a remarkable 86.64% increase in net profits over the last three months. Looking at financial metrics, Tata Motors Ltd has a Market Capitalization of ₹3,63,435 Crore, with a Stock Price-to-Earnings (PE) ratio of 18, which is lower than the industry PE of 37.2. The debt-to-equity ratio stands at 2.38, reflecting the company’s financial leverage.
Tata Motors Group global wholesales In Q4 FY24, the Tata Motors Group reported global wholesales of 3,77,432 units, marking an 8% increase compared to Q4 FY23. This figure includes Jaguar Land Rover vehicles. The global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q4 FY24 stood at 1,11,591 units, reflecting a 6% decrease from Q4 FY23. On the other hand, global wholesales of Tata Motors’ passenger vehicles in Q4 FY24 totaled 1,55,651 units, showing a significant 15% increase compared to Q4 FY23. For Jaguar Land Rover vehicles specifically, global wholesales were 1,10,190 units in Q4 FY24, indicating a notable 16% rise. This includes 13,528 Jaguar vehicles and 96,662 Land Rover vehicles wholesaled during the quarter.

Happy Trading!

Commodity Samachar
Learn and Trade with Ease

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