Yesterday’s Pick
BANKNIFTY SEP 54000CE RS.10,500/- (10 Lot)
NIFTY SEP 25900CE RS.10,000/- (10 Lot)
SBIN SEP 800CE RS.9,000/- (5 Lot)
BANKNIFTY SEP 54000PE SELL RS.9,000/- (10 Lot)
ABB SEP 7900 CE RS.9,375/- (10 Lot)
Nifty Technical view
The Nifty 50 continued its upward trend for the fourth straight day, closing at a record high of 25,940, an increase of 1.4 points. However, it didn’t manage to surpass the 26,000 mark on September 24. Experts suggest that the index may trade within a certain range, with immediate support at 25,800 and resistance at 26,000. The overall upward trend appears to be intact. If it breaks above 26,000, the next resistance level would be 26,200, while crucial support below 25,800 stands at 25,500.
India Vix
Volatility remained below the 14 mark for yet another session, dipping after a brief rise, which is a positive sign for bulls. However, if volatility stays above 14, bulls may need to exercise caution. The India VIX decreased by 2.85 percent, closing at 13.39.
Nifty PCR
The Nifty Put-Call Ratio (PCR), a gauge of market sentiment, fell to 1.31 on September 24, down from 1.42 in the previous session. A rising PCR, especially above 0.7 or exceeding 1, suggests that traders are selling more Put options than Call options, indicating a strengthening bullish sentiment. Conversely, if the ratio drops below 0.7 or approaches 0.5, it signifies higher selling of Calls compared to Puts, reflecting a bearish outlook in the market.
FII And DII Data
On September 24, Foreign institutional investors purchased Indian stocks worth ₹3,868.31 crore, while Domestic institutional investors sold stocks totaling ₹2784.14 crore.
Stocks To Watch
PC Jeweller: The company will consider stock split on September 30.
Tata Power: The power company said there was a fire incident at its Trombay Plant on September 23. It added that while no injuries or loss of life have been reported, the company is currently investigating the cause of the fire, and work is underway to restore normal operations.
Easy Trip Planners: The travel tech platform’s promoter Nishant Pitti is likely to sell up to 8.5% of his stake in the company through block deals, with an estimated block size of ₹622 crore, according to a report by CNBC-TV18.
Nifty and Bank Nifty Support and Resistance level
NIFTY :-
Resistance 26,000, 26,050, and 26,100.
Support based 25,900, 25,850, and 25,800
BankNifty :–
Resistance : 54,250, 54,350, and 54,500
Support based 53,850, 53,750, and 53,550
Index Future levels
Nifty Futures Sell Around 25,900 The suggested targets for this are 25,800 and 25,750 with the stop loss set at 26,050
Bank Nifty Sell Around 54,000 index is expected to downside levels of 53,800 and 53,600 and level 54,400 will act as a stop loss.
Momentum Pick:
SCHNEIDER ELECTRIC INFRA
Buy above ₹ 850| Target price: ₹ 960/1040 |Stop Loss:₹ 790
Schneider Electric Infrastructure Limited, incorporated in 2011, is engaged in the business of manufacturing, designing, building and servicing technologically advanced products and systems for the electricity network. The product portfolio of the Co. includes Transformers, Power Transformers, Switchgears (Primary & Secondary Switchgears), Medium Voltage Switchgear, Protection Relays, Differential Relay, Electricity distribution management systems, a software suite for self-healing smart grid, e-House & smart cities applications.
Schneider Electric Infrastructure Ltd’s revenue jumped 19.68% since last year same period to ₹595.51Cr in the Q1 2024-2025. On a quarterly growth basis, Schneider Electric Infrastructure Ltd has generated 25.27% jump in its revenue since last 3-months. Schneider Electric Infrastructure Ltd’s net profit jumped 38.83% since last year same period to ₹48.48Cr in the Q1 2024-2025. On a quarterly growth basis, Schneider Electric Infrastructure Ltd has generated 1378.05% jump in its net profits since last 3-months.
Happy Trading!
Commodity Samachar Securities
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