Trillium Advisory Mumbai, 201, Jai Laxmi Narayan CHS LT Road, Mumbai (2026)

28/03/2023

Nifty Closes in the Red; Broader Markets Underperform; Banking Stocks Outperform
Daily Action

Nifty, -0.2%; Sensex, -0.1%; Nifty Midcap, -0.4%; Nifty Smallcap, -0.9%; Model Portfolio, 0%.

Market Pulse: Rally Attempt

Today, Nifty had a flattish opening and made an intraday high of 17,061 in the first hour of the session. However, the index came under selling pressure during the first half of the session as it reversed more than 120 points from the highs. After hitting the intraday lows, the stock moved sideways and closed in the red.

On the sectoral front, it was a mixed bag. Nifty Realty fell 1.2% and Nifty Auto declined 1%. On the other hand, Nifty Bank and Nifty Private Bank gained 0.4% and 0.3%, respectively. The advance-decline ratio for the day stood at 0.38, largely in favor of decliners.

Last week, we changed the market status to a Rally Attempt from a Downtrend. From here, we would prefer to see a follow-through day before shifting the market status to a Confirmed Uptrend. Should this occur, the focus will be on ideas that show the best relative strength with good accumulation. Stocks that recover the quickest tend to lead the next run. On the flip side, if Nifty breaches its recent low of 16,828, the market status will be moved back to a Downtrend.

Key News:

Idbi Bank approves the appointment of Harish Kuber as Chief Financial Officer.

LTIMindtree gets selected by Cyprus-based Hellenic Bank as a strategic sourcing partner in its transformation journey.

G R Infraprojects emerges as the lowest bidder for two projects in Karnataka worth Rs. 1,613.84 crore by the National Highways Authority of India (NHAI).

Tata Elxsi (Nse) to set up a global engineering center for Japan-based Alps Alpine in a strategic long-term agreement.

Sterlite Technologies signs an amended agreement with Skyvera LLC, to sell its Telecom Products and Software business to Skyvera LLC as an asset sale for $15 M compared to a slump sale basis earlier.

21/03/2023

Nifty Closes Above 17,100; Banking and Financial Stocks Outperform

Daily Action

Nifty, +0.7%; Sensex, +0.8%; Nifty Midcap, +0.6%; Nifty Smallcap, +0.7%; Model Portfolio, 0%.

Market Pulse: Downtrend

Today, Nifty had a gap-up opening of 60 points and, after making an intraday low of 17,016 in the first hour of the trading range, continued to move higher for the remaining part of the trading session. At the end of the trading session, it managed to close in the top quartile of the day’s range.

On the sectoral front, it was a mixed bag. Nifty IT, Nifty FMCG, and Nifty Pharma were among the decliners, losing 1%, 0.7%, and 0.3%, respectively. On the other hand, Banking Indices gained 1.4−1.7%. Of the 2,737 stocks traded, 1,330 closed higher and 940 closed lower.

Yesterday, Nifty breached its recent low of 16,850 to make a new correction low of 16,828 and closed in the top half of the candle. Hence, we considered it as Day 1 of an attempted rallly. Today, the index stayed above the correction low for a second consecutive day, marking it as Day 2 of an attempted rally. We will shift the market status to a Rally Attempt if Nifty establishes a bottom and stays above yesterday’s low for one more trading session. From there, we would prefer to see a follow-through day before shifting the market back to a Confirmed Uptrend. Should this occur, the focus will be on ideas breaking out of early-stage base patterns and showing the best relative strength with good accumulation.

Key News:

Granules India arm Granules Consumer Health’s Packaging unit in Manassas gets zero observations from the U.S. FDA.

Paras Defence And Space Technologies bags order worth Rs. 64 crore from Council Of Scientific and Industrial Research (CSIR).

Nmdc hikes the prices of lump ore, fines by Rs. 100 and Rs. 200 per tone, respectively.

Intellect Design Arena banking arm partners with Faisal Islamic Bank of Egypt for digital banking.

Zydus Lifesciences has been granted ‘Orphan Drug Designation’ by the U.S. FDA for ZYIL1, which is used to treat CAPS.

20/03/2023

Nifty Closes Marginally Below 17,000 in a Highly Volatile Session; FMCG Stocks Outperform

Daily Action

Nifty, -0.7%; Sensex, -0.6%; Nifty Midcap, -1%; Nifty Smallcap, -1%; Model Portfolio, 0%.

Market Pulse: Downtrend

Today was a highly volatile trading session. Nifty opened slightly lower, and continued to trade lower during the first half of the trading session. The Index made an intraday low of 16,828 but reversed strongly from there and closed in the top half of the day’s range.

Barring Nifty Media (+0.1%) and FMCG (+0.8%), all other sectoral indices closed lower. Nifty Metal (-2.4%) and PSU Bank (-1.7%) led the decline. Of the 2,770 stocks traded, 663 closed higher and 1,646 closed lower.

Today, Nifty breached its recent low of 16,850 to make a new correction low of 16,828. However, the index reversed strongly from the lows and ended the session in the top half of the day’s range. Hence, we will consider today’s session as day 1 of an attempted rally. We will shift the market to a Rally Attempt if Nifty establishes a bottom and stays above today’s low for two more trading sessions. From there, we would prefer to see a follow-through day before shifting the market back to a Confirmed Uptrend. Should this occur, the focus will be on ideas breaking out of early-stage base patterns and showing the best relative strength with good accumulation.

Key News:

Rail Vikas Nigam and the Tracks and Towers Infratech Pvt. Ltd. consortium emerge as the lowest bidders for the project worth Rs. 1,271.99 crore.

Ahluwalia Conts.Ida. bags contract orders worth Rs. 723.34 crore.

Krsnaa Diagnostics emerges as the lowest bidder for the National Health Mission Project worth Rs. 450 crore.

Paras Defence And Space Technologies gets Avionics Suite contract for Saras MK-2 Aircraft worth Rs. 64 crore from National Aerospace Laboratories.

Glenmark Pharms. (Nse) gets final US FDA approval for Prochlorperazine Maleate Tablets, which are used to treat morning sickness.

20/03/2023

Happy Gudipadwa

20/03/2023

Post Market updates 20.03.2023

17/03/2023

Daily Pre Market : 17.03.2023

SGX Nifty Indicates Higher Opening; Rajesh Gopinathan Resigns as CEO and MD of TCS.
At 8:45 am IST, SGX Nifty Futures were trading at 17,137 compared with Nifty’s close of 16,985, yesterday.

Global Stock Markets: Dow 30, +1.17%; S&P 500, +1.76%; Nasdaq, +2.48%; Nikkei, +0.63%; Shanghai Composite, +0.68%; Kospi, +0.60%.

Yesterday, it was a highly volatile trading session as the benchmark index Nifty traded in a zig-zag manner with no clear momentum on either side. It will be considered as day one of an attempted rally as the index closed in the green. It was a mixed action on the sectoral front. Nifty Media (+4.16%) and FMCG (+1.14%) were the top gainers, while Nifty Metal (-2.58%) and IT (-0.69%) led the decline.

Recently, the market status was shifted to a Rally Attempt. But, as the index breached its recent correction low (17,255) on Monday, we changed the market status to a Downtrend. Yesterday’s low (16,850) is the key for the market. We will shift the market to a Rally Attempt if Nifty establishes a bottom and stays above yesterday’s low for two more trading sessions. From there, we would prefer to see a follow-through day before shifting the market back to a Confirmed Uptrend. Should this occur, the focus will be on ideas breaking out of early-stage base patterns and showing the best relative strength with good accumulation.

Key News

ECB hiked its interest rates by 50bps to 3.5%.

Tata Consultancy Svs.: Rajesh Gopinathan resigned as CEO and MD. K Krithivasan is appointed as the new CEO and MD.

Hindustan Aeronautics: Defence acquisition council approved the proposal to procure 60 UH Marine choppers worth Rs 32,000 crore.

Voltas (Nse)’s subsidiary Universal MEP Projects & Engineering Services has bagged multiple SITC project orders worth Rs 1,770 crore.

FIIs net selling: Rs 282 crore.

DIIs net buying: Rs 2,051 crore

Source : MarketSmith INDIA

17/03/2023

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