Ramco Cement: Rajesh Satpute has a buy advice on Ramco Cement. He says that this stock can be bought with a stop loss of Rs 710 for a target of Rs 750-760.
Siemens: Kavita Jain recommends buying at Siemens. They say that this stock can be bought with a stop loss of Rs 2944 for a target of Rs 3020-3060.
UPL: Prakash Gaba has given buying advice in UPL. He says that this stock can be bought with a stop loss of Rs 732 with a target of Rs 750.
Bajaj Finserv: Manas Jaiswal has a buying advice at Bajaj Finserv. They say that this stock can be bought with a stop loss of Rs 1770 with a target of Rs 1860.
SBI: Ashish Baheti has given buying advice in SBI. He says that this stock can be bought with a stop loss of Rs 580 with a target of Rs 630.
Morgan Stanley has given an overweight call on SBI. He says the bank's Q2 performance has been better on all scales. It is expected to improve margins going forward. He has fixed its target price from Rs 675 to Rs 715.
Giving opinion on SBI, GS has given a buy rating on it. He said that he has increased the target price of this banking share by Rs 728 to Rs 770. Profits in the second quarter were 18 per cent higher than our estimates, he said. They have raised its net profit estimate for FY23E-FY24E to 13.9%/2.5%.
INVESTEC has increased its target price to Rs 680 by giving buy rating on SBI. He has raised the bank's profit forecast for FY23/24 by 13%.
NOMURA has given buy rating on SBI. He has increased the target to Rs 690 per share. He says 15% RoE is possible between FY23-25. The growth of the bank will continue. Along with this, its cost management has been better.
MACQUARIE has given outperform call on TITAN. He has fixed its target price at Rs 3200 per share. He says that the company has seen strong margins in all segments in Q2. These indicate strong outlook for Q2 onwards. They have raised its EPS estimate for FY23E/FY24E/FY25E by 3%.
The market has started with gains. The Sensex is seen at the level of 61,352.05 with a gain of 401.69 points or 0.66 percent. On the other hand, Nifty is seen at the level of 18244.75 with a gain of 107.60 points or 0.59 percent.
The market has had a flat start in the pre-opening. The Sensex is seen at the level of 61,160.10 with a gain of 209.74 points or 0.34 percent. On the other hand, Nifty is seen at the level of 18211.13 with a gain of 94.60 points or 0.52 percent.
Last week Nifty closed around 18220 with a gain of about 2.19 percent. Nifty climbed between 17926 - 18229 during the week. On the OI (Open Interest) front, Nifty witnessed a long build-up during the last week as there was an increase in OI. On the other hand, Bank Nifty closed around 41465 last week with a gain of about 0.77 percent. Its futures trading ranged from 41,825 to 40,990. Overall, Bank Nifty showed a gain of around 315 points last week. If we look at the upcoming weekly expiry of Nifty, immediate resistance in Nifty is visible at the level of 18300. Open interest of about 44.5 lakh shares is visible at this level. Thereafter, it has significant resistance at the level of 18500. Open interest of about 49.85 lakh shares is visible at this level.
On the other hand, when the Nifty falls, immediate support is seen at the level of 18000. Put option open interest of about 86.53 lakh shares is visible at this level. Nifty has support below it at 17800 where put option open interest of about 35.18 lakh shares is visible. Max Call OI was seen at 19000 level. Open interest of about 88 lakh shares has been seen at this level.
But talking about the strategy, Virendra Kumar said that the first resistance for Bank Nifty is at 41570-41690 and the second big resistance is at 41840-42010. At the same time, the first base for this is at 41210-41040 and the second big base is at 40810-40670. On Friday, had given an opinion to carry long and buy on the downside. Momentum can increase due to good results of SBI. Above 41590 41840 (all time high) and 42000 level are important. Heavy call writing has been seen on 42000. Not sure about the opening zone of Bank Nifty. If it does not slip below 41500, further uptrend is possible.
Nifty: Talking about what is my earning strategy today Virendra Kumar of CNBC-Awaaz said that the first resistance for this is at 18261-18326 and the second major resistance is at 18388-18410/454. Its first base is at 18181-18139 and the second major base is at 18090-18050. Was advised to do a long carry on Friday.
Closed above 200 DEMA. Institutional figures are quite good. There are call writers on 18200-300 and onwards 18500. Stay long and buy in the downside till the top of the first base. After opening, new purchase decisions will be taken on the basis of risk and reward. Try to make new purchases away from other resistance zones. Good results from SBI and call writers stuck in RIL will increase the pace.
Reliance Industries is going to acquire the India-based cash and carry business of German retailer METRO AG. According to information received from industry sources, for this, Reliance has agreed to a deal with Metro AG for about Rs 50 crore or Rs 500 million. If we look in Indian rupees, then this deal has been fixed for Rs 4060 crores. Under this deal, the ownership of 31 Whole Sale Distribution Centers, land banks and other properties of Metro Cash & Carry in India will go to Reliance. The acquisition will help the country's largest retailer Reliance Retail expand its presence in the B2B segment.
The deal was being discussed between the country's leading entrepreneur Mukesh Ambani-led Reliance Industries and Metro for the past few months and last week German parent Metro AG agreed to the proposal of Reliance Retail. However, both Metro and Reliance Industries declined to comment when contacted for information on this news. A Reliance spokesperson said, “Our Company evaluates various opportunities on an ongoing basis. A Metro AG spokesperson said, “We do not comment on market rumors or speculations.
Britannia produced better results than expected. Profits grew 28% in Q2 and margins also showed improvement. Domestic volume growth has been 4% as expected. On the other hand, there has been slight pressure on Marico's profits.
Titan posted good results in the second quarter. Profits have increased by 8% and revenue by 22%. Margins have also shown improvement. There has been a growth of more than 20% in jewelry and watches.
SBI presented excellent results in the second quarter. Profit has increased by 74% to 13 thousand 265 crores. Earnings from interest have also increased by 13%. Best loan growth in 19 quarters. At the same time, the Net Interest Margin of Bank of Baroda reached the peak of 30 QUARTER.
As on 7th November, 1 stock LIC Housing Finance F&O is under ban on NSE. It is to be noted that the stocks included in the F&O segment are put in the ban category if the positions of the securities exceed their market wide position limits.
The first support for Nifty is located at 18045 and after that the second support is located at 18017 and 17972. If the index moves upwards, it may face resistance at 18135, then 18163 and 18208.
Nifty Bank: The first support for Nifty Bank is located at 41097 and then the second support is located at 40988 and 40810. If the index moves upwards then it may face resistance at 41453 then 41563 and 41740.
Nagraj Shetty of HDFC Securities says that a good positive candle has been seen on the daily chart. This is a sign of an attempt to rally after consolidation in the market. Positive chart patterns like smaller higher tops and higher bottoms are also visible on the daily chart. Now Thursday's low of 17959 can be considered as the new higher bottom of this sequence. Nagraj Shetty also believes that the short term trend for Nifty is bullish. We can see Nifty breaking further above the 18100-18200 barrier. In the near term, the level of 18500-18600 is possible in Nifty. The first support for Nifty is at 17950.
A mixed trend was seen in the broader market on Friday. Nifty Midcap closed with a weakness of 0.25 per cent. At the same time, Smallcap closed with a gain of 0.4 percent. There was also some decline in market volatility. India VIX was down 1.8 per cent at 15.66 which is a good sign for the bulls.
On November 4, the market was seen rallying again after two days of decline, with good global cues and reduction in volatility. Nifty closed above 18100 on the last trading day. Sensex closed at 60950 with a gain of 114 points. At the same time, Nifty closed at the level of 18117 with a gain of 65 points. Nifty formed a bullish candle on the daily chart by taking support around 17900-18000.
There are mixed signals from the global market. Asia has got off to a strong start. SGX NIFTY is also trading up about half a percent but this week retail inflation data and US FUTURES are seen under pressure ahead of Congress's midterm election. However, the US markets closed strong on Friday.
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