Yesterday’s Pick
BANKNIFTY 11SEP 51000 CE Profit : 16500+ Per 10 Lot
BANKNIFTY 11SEP 51500 CE Profit : 5700+ Per 10 Lot (Hero Zero Trade)
BANKNIFTY SEP FUTURE Profit : 3600+ Per 2 Lot
PRISM JOHNSON LTD Profit : 20000+ 22 % RETURN IN 3 DAYS (Quantity 500)
TATA MOTORS 1000 PE Profit : 6050+ per 1 lot
Nifty’s Technical view
On Yesterday, After hitting a support level around 24,800, Nifty has recovered. Technical analysis indicates that the market may remain range-bound in the near future, fluctuating between 24,800 and 25,200. Nifty has formed a lower high on its intraday chart, signaling a potential short-term bearish trend. However, it’s important to monitor subsequent price action to determine if this is a temporary correction.
India vix
The India VIX, a measure of market volatility, experienced a modest uptick of 2%, closing at 13.63. This indicates that investors are anticipating more price swings in the near term.
Nifty PCR
The PCR shifts to 0.88 from 1.07 in the previous session. A PCR above 0.7 or approaching 1 generally indicates bullish sentiment, while a ratio below 0.7 or moving towards 0.5 signals a bearish trend.
Stock To Watch
Tata Steel – The company reached a deal with the UK government regarding the previously agreed £500-million grant for its green steel project in Port Talbot. The £1.25 billion project is expected to be operational within three years and aims to preserve 5,000 jobs.
Hindustan Petroleum Corporation Limited (HPCL) – The company approved a ₹2,212 crore infrastructure investment and appointed a new CFO following its latest board meeting. The investment will fund the Visakh Raipur pipeline project, which includes a pipeline from Visakhapatnam to Raipur and a new depot at Kantabanji.
Adani Ports – The company will develop a multipurpose berth at Gujarat’s Kandla Port, having signed a concession deal with the DPA. The new berth will handle multi-purpose cargo and is expected to be commissioned in FY27.
Nifty and Bank Nifty Support and Resistance level
NIFTY :-
Resistance 25,130, 25,250 and 25,350
Support based 24,900, 24,850 and 24,780
BankNifty :–
Resistance :51,250, 51,380 and 52,550
Support based 50,900, 50,750, and 50,500
Index Future levels
Nifty Futures Buy At 25,000 The suggested targets for this are 25,150 and 25,250 with the stop loss set at 24,790
Bank Nifty Buy Above 51,500 index is expected to upside levels of 51,800 and 52,000 and level 51,000 will act as a stop loss.
Momentum Pick: HAVELLS INDIA LTD
Buy above ₹ 1955 | Target price: ₹ 2005/2050 |Stop Loss:₹ 1900
Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer with a strong global presence. It enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, Luminaires for Domestic, Commercial and Industrial Applications.
As per FY22, the company has an established extensive distribution network spread across the country with 14,000 direct dealer and 210,000 retailers. It also owns the largest brand shop channel in the electrical industry with about 550 exclusive shops & a presence in 300 districts.
Happy Trading!
Commodity Samachar Securities
We Decode the Language of the Markets
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