Dev Bhoomi Financial Services

10/09/2022

Nifty may head towards 18200-18350; buy on dips, suggests Sameet Chavan of Angel One.
In last couple of sessions, the oversold US market rebounded, which provided a much-needed trigger for Nifty to come out of the recent congestion phase.
Indian equities started the week gone by on a positive note despite SGX Nifty indicating a sluggish start. However, after surpassing the 17650 mark, the index slipped into a consolidation mode and for the remaining part of the session, we witnessed a slender range with undertone being strongly bullish. During the mid-week, markets had slightly turbulent moves, but we managed to weather them successfully.

In last couple of sessions, the oversold US market rebounded, which provided a much-needed trigger for Nifty to come out of the recent congestion phase. With some hint of profit booking on Friday, Nifty concluded the week convincingly above 17800 by adding 1.68 percent to the previous weekly close.

Domestic market has maintained its sturdy structure over the last couple of weeks amid a declining trend in the US. This clearly restricted our key indices to surpass the higher boundary of the consolidation range despite having an inherent strength. The moment global recovery took place, we witnessed a breakout from the sturdy wall of 17,700 – 17,800. Importantly, the banking space was the major charioteer in this rally with Nifty Bank clocking over 2.50 percent gains and closing at a 10-month high.

Whenever financial counters contribute, the rally should be construed as healthy. Moreover, IT heavyweights, which were top laggards, showed some encouraging signs towards the fag end of the week. This provided credence to the move and adds conviction to retest the recent psychological level of 18000 in the coming week itself. In fact, if global peers support, we will not be surprised to see it extending towards 18200 – 18350 levels.

We advise traders to continue with their recent ‘Buy on declines’ strategy and use decline towards the support zone of 17,675 – 17,500 to add fresh longs. Also, the broader end of the spectrum is clearly on a roll and hence, one should keep focusing on potential movers from the cash segment, which are likely to fetch higher returns.

03/12/2021

Gainers & Losers: 10 stocks that moved the most on December 3.
Except capital goods, all other sectoral indices ended in the red. BSE midcap and smallcap indices ended flat,
Indian Benchmark indices snapped the two-day winning streak and ended lower, with the Sensex closing below the 58,000-mark. At close, the Sensex was down 764.83 points, or 1.31%, at 57,696.46, and the Nifty was down 205 points, or 1.18%, at 17,196.70.
1. Maruti Suzuki | CMP: Rs 7,200 | The stock ended in the red after CLSA downgraded the stock to “sell” from “underperform” and cut the target to Rs 6,420 from Rs 6,550 a share. The brokerage firm said that if the company loses share in the SUV segment, it may lose 600 Bps market share in the passenger vehicle segment over FY20-22.
2.Indian Energy Exchange | CMP: Rs 255.90 | The share rose over 5 percent as shares traded ex-bonus with the record date set for December 6 for ascertaining the eligibility of shareholders entitled for issuance of bonus equity shares, subject to the approval of shareholders that is being obtained through postal ballot (including e-voting).
3.Sun Pharma Advanced Research | CMP: Rs 254 | The scrip was up 2 percent after the firm entered into an agreement with Biomodifying LLC (Biomodifying) to exclusively licence its intellectual property, including all patents and patent applications owned or controlled by the firm, along with antibodies developed for multiple uses for cancer, the company said in its release.
4.Jubilant Ingrevia | CMP: Rs 586 | The share price gained over 4 percent after the company at its meeting on December 2, 2021 approved buy-back of 1,000 7.90% Secured Rated Listed Redeemable Non-Convertible Debentures of Rs 10,00,000 each aggregating to Rs 100 crore.
5.Angel One | CMP: Rs 1,142 | The stock price ended in the green on December 3. The broking company reported that its client base during November grew to 7.32 million from 6.93 million in the previous month and was up about 146 percent on year. In November, the company’s overall average daily turnover rose 9.5 percent on month and 219 percent on year to Rs 7,217 billion.
6.Hindustan Zinc | CMP: Rs 349.10 | The scrip jumped over 4 percent after the company said its board would meet on December 7 to consider and approve an interim dividend on equity shares for FY22. The record date for eligibility of interim dividend, if any, would be December 15, the company said in a regulatory filing.

08/09/2021

S&P 500, world equity index retreat as economic worries weigh
Unofficially, the Dow Jones Industrial Average fell 0.76% to end at 35,100 points, while the S&P 500 lost 0.34% to 4,520.03. The Nasdaq Composite climbed 0.07% to 15,374.33, as Apple Inc and Netflix Inc both hit record highs.

08/09/2021

"Sometimes even the wrong train take you the right station."

04/09/2021

15/06/2021

Adani group stocks pare early gains even as NSDL says FPI accounts in Adani companies are not frozen
NSDL clarified to the conglomerate later in the day that the accounts of three foreign funds that are big stakeholders of Adani group companies are not frozen.
MONEYCONTROL NEWS JUNE 15, 2021 / 10:15 AM IST

Adani group stock have rebounded at open on June 15, a day after the stocks took a beating on the back of media reports that suggested NSDL has frozen three FPI accounts owning Adani Group shares.

Share price of Adani Transmission, Adani Power and Adani Gas were down 5 percent each while that of Adani Green shed 2 percent. Adani Enterprises share price was trading marginally in the green and that of Adani Ports added half a percent.

National Securities Depository Ltd (NSDL) has frozen the accounts of three Foreign Portfolio Investors (FPI) — Albula Investment Fund, Cresta Fund and APMS Investment Fund — which together own over Rs 43,500 crore worth of shares in four Adani Group companies-Adani Enterprises, Adani Green Energy, Adani Transmission, Adani Total Gas, media reports suggested on June 14.

However, NSDL clarified to the conglomerate later in the day that the accounts were not frozen.

“The status of demat accounts mentioned in your trail email are held in ‘active” status in NSDL system,” Rakesh Mehta, vice-president, NSDL told Adani officials.

15/05/2021

to day trade for a living.