SHIELD RESEARCH :- NIFTY UPDATE

STOCK CASH TIPS :- 

NIFTY FUTURE :  R1:8825    R2:8860  R3:8864

PIVOT :87991     S1:8745    S2:8700   S3:8660

CHART INTERPRETATION :-

The Nifty is likely to open gap up on the back of strong global cues. 

Buy Nifty in the range of 8785-8795 for targets of 8845-8865, stop loss: 8765 • 

Nifty Bank Future: On the back of mixed activity, the index ended marginally above 20200. However, SBI remained firm after quarterly numbers, which provided some cushion to the index. 

We feel the index has a decent support near 20000 and is well placed to retest the levels of 20500 in coming days. 

Buy Nifty Bank in the range of 20120-20170, targets: 20260-20350, stop loss: 20060

INDEX OUTLOOK  :-

The Nifty settled with tiny gains after what was a range bound and lacklustre trading session. 

The IT space saw short covering while weakness was seen in the pharma and FMCG space. 

Nifty futures settled at a premium of 16 points • 

FIIs turned buyers in the last session as they bought | 504 crore in equities while DIIs sold | 225 crore. FIIs bought | 243 crore in index futures and also bought | 851 crore in index options. 

In stock futures, they bought | 76 crore • 

The highest Put base is at the 8500 strike with 61 lakh shares while the highest Call base is at the 9000 strike with 63 lakh shares. 

The 9000 Call strike saw additions of 5.6 lakh shares, while 8800 and 8700 Put strikes saw additions of 4.9 and 3.8 lakh shares, respectively.

SECTORIAL INDICES :-  

CORPORATE NEWS :-
      

Mahindra & Mahindra (M&M) reported a 33.3% rise in Net Profit to Rs. 1,112.3 Cr in Q3 against Rs. 834.5 Cr in the corresponding quarter last fiscal. Total Revenue from Operations was up by 1.5% to Rs. 11,778 Cr as against Rs. 11,607.4 Cr in the corresponding quarter last year. 

M&M saw a 7% decline in the revenues from the automotive segment to Rs. 7,453.1 Cr. Shares closed down 1.1%.

State Bank of India (SBI) reported a 134% growth in Net Profit to Rs. 2,610 Cr against Rs. 1,115.3 Cr in the corresponding quarter last year. 

Net Interest Income grew by 7.7% to Rs. 14,754.5 Cr in Q3 against Rs. 13,697 Cr in the corresponding quarter last year. 

Asset Quality weakened slightly, as Gross NPAs increased to 7.23% from 7.14% in the last quarter and Net NPAs stood at 4.24% as compared to 4.19% in the last quarter.

SML Isuzu reported an 18.33% rise in Total Income to Rs. 229.8 Cr in Q3 against Rs. 194.2 Cr in the corresponding quarter last fiscal. 

Net Profit for the quarter stood at Rs. 3.2 Cr against a loss of Rs. 0.9 Cr in the corresponding quarter last year. Shares closed up 1.4%.

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