Tuesday’s Profit
SWING TRADE AUROPHARMA Rs 7000 ( 200 Quantity )
FINNIFTY 30 APR 21750CE Rs 7875 ( 5 Lot)
Momentum Pick AXISBANK Rs 8000 ( 200 Quantity )
Daily Newsletter Bank Nifty future 22500 ( 5 Lot)
Nifty Technical View:
The spinning top candlestick pattern on the daily charts of the Nifty index indicates uncertainty among traders. Despite this, the index remains relatively stable, staying above its 20-day Exponential Moving Average (EMA), which suggests that the overall trend hasn’t changed much from the previous day. Traders are advised to stay optimistic and see any decreases in price as potential opportunities to buy.
FII and DII data:
According to preliminary data from the NSE (National Stock Exchange), foreign institutional investors (FIIs) purchased shares worth Rs 1,071.93 crore, while domestic institutional investors (DIIs) invested Rs 1,429.11 crore on April 30th.
Put Call Ratio:
On April 30th, the Nifty Put-Call ratio (PCR), which serves as an indicator of market sentiment, decreased to 1.11 from its previous level of 1.23. When the PCR rises above 0.7 or surpasses 1, it suggests that traders are selling more Put options than Call options, typically signaling a strengthening bullish sentiment in the market. Conversely, if the ratio drops below 0.7 or approaches 0.5, it indicates that selling in Call options outweighs selling in Put options, reflecting a bearish sentiment in the market.
Nifty and Bank Nifty Support and Resistance level:
Nifty :–
Resistance 22,730, 22,800 and 22,870 levels.
Support 22,570, 22,500 and 22,440 levels.
BankNifty: –
Resistance 49820, 49990 and 50260
Support 49260, 49090 and 48820
Index Future levels
Nifty Futures buy near 22700.The suggested targets for this are 22,900 and 23000, with a stop loss set at ,22580
Bank Nifty future buy above 49500 , the index is expected to see upside levels of 49800 and 50100, and level 49250 will act as a stop loss.
Stocks in the news:
Wipro:
The technology services and consulting company has been awarded a contract by Nokia to revamp its employee service desk, aiming to deliver smooth, real-time IT assistance to its worldwide workforce.
Godrej Group Stocks:
The Godrej family has reached an agreement to split the conglomerate into two branches, with Adi and brother Nadir keeping the listed entities while cousin Jamshyd gets the control of unlisted companies and the land bank, as per the pact shared with the stock exchanges on April 30. The agreement submitted to the exchanges addresses issues of Royalty, Brand Usage and Land Bank development.
Todays Fundamental : NHPC Limited
BUY 97|TGT 104| Stop Loss 92.50
Established in 1975, National Hydroelectric Power Corporation (NHPC) Limited holds a prominent position as one of the largest hydropower generation companies, with its headquarters located in Faridabad. Besides its focus on hydropower projects, NHPC is also involved in wind energy and solar energy ventures. NHPC’s core mission is to actively strategize, encourage, and coordinate the development of integrated and efficient hydropower solutions using both traditional and modern energy sources, not just within India but also on an international scale. The company boasts an installed capacity of approximately 7,097 MW, inclusive of 1,546 MW from joint ventures. This capacity is spread across 22 hydro-power stations, 76 solar-based units, and 50 wind-based facilities.
NHPC also offers consultancy services covering various aspects like planning, operations and maintenance, surveys, engineering design, renovations, and more. Some notable power stations under NHPC’s portfolio include Kishanganga, Chutak, Nimmo-Bazgo, Jaisalmer, Dhauliganga, Loktak, Baira Siul, Tanakpur, among others.
NHPC, a Mini Ratna category I public sector utility and the Government of India’s flagship hydroelectric generation company, currently has a market capitalization of ₹91,611 Crore. The stock’s price-to-earnings (PE) ratio stands at 24.6, slightly higher than the industry PE of 24.4. Additionally, NHPC maintains a debt-to-equity ratio below 1, indicating a healthy financial position. In terms of financial performance, NHPC Ltd reported a third-quarter profit of Rs 491.90 Crore for the financial year 2023-24. This represents a decrease of 26.8% compared to Rs 671.67 Crore reported in the corresponding quarter of the previous year. Despite the decline in profit, the company posted a revenue from operations of Rs 2,055.50 Crore, reflecting a notable increase of 20.4% from Rs 2,582.76 Crore in the quarter ended December 2022. The total income for the quarter was reported at Rs 2,549.69 Crore, while total expenses incurred by NHPC during Q3FY24 amounted to Rs 1,727.85 Crore.
The Union Cabinet. chaired by the Prime Minister, Shri Narendra Modi. has given its • approval for the investment of Rs.5281.94 crorc for 850 MW Ratle Hydro Electric ln(HE) Project located on river Chenab, in Kishtwar district of Union Territory of Jammu and Kashmir, by a new Joint Venture Company (JVC) to be incorporated between National Hydroelectric Power Corporation (NHPC) and Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) with equity contribution of 51 % and -19% respectively.
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
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