Wednesday, December 23, 2020

WILL BANKNIFTY GO UP TOMORROW ?

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Today All sectoral ended the day in green.Realty stocks  climbed 3.94 %, followed by Media stocks that rose 3.27% & IT &Metal, Pharma also closed with decent gains.
On Wednesday IT stocks continued to be in demand , driven by a couple of big deal wins, along with buying in auto, metal and pharma that extended the rally in benchmark indices to the second straight day.Among blue chip names, Wipro was the biggest gainer that climbed 5 %. Today Cipla, Tata Steel, Tata Motors, HUL, Infosys, M&M, indusind Bank, Hindalco and SBI were other major gainers while Hero motocorp was the top loser down 0.95% & Divi’s Laboratories, Titan Company, NTPC, Power Grid, GAIL, Coal India and ultratech Cement were other top losers.
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Tuesday, December 22, 2020

BULLS BACK IN MARKET

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After a volatile day bulls seem to be having the last laugh as the benchmark equity indices staged a smart recovery on Tuesday. Low-level buying ensued, especially after the European markets opened higher.
The two sectors that have performed exceptionally are Healthcare stocks which are up 60% & IT stocks which is up 50%. Hence, most of the stocks that fall under these two sectors have outperformed massively. The basket of Pharmaceutical stocks under coverage is expected to report healthy earnings growth of 32% in FY21 followed by 19% CAGR for the next two years. IT services companies are witnessing strong deal traction post the pandemic which is providing strong earnings visibility for next two years.
Divis Laboratories, Aurobindo Pharma, Cadila Healthcare, Dr Reddys Laboratories, Cipla, Infosys, HCL Technologies, Wipro, Asian Paints, Avenue Supermarts, UPL, Havells India, Mahindra and Mahindra, JSW Steel, Tata Steel, Sun Pharmaceutical Industries, Reliance Industries and Tata Consultancy Services were biggest gainers in the Largecap stocks rising 30-107 % during 2020.However, Punjab National Bank, indusind Bank, Bank Of Baroda, General Insurance Corporation of India, Coal India, Indian Oil Corporation, ONGC, BPCL, Bandhan Bank, Axis Bank, State Bank of India, HPCL, Bosch, NTPC, SBI Life Insurance Company, HDFC Asset Management Company and NMDC were top losers, falling 10-43% in 2020.While IT and Pharma companies have seen a sharp revival in their fortune, PSU banks, energy companies and some of the highly valued stocks have still to make a new high.
TOP GAINERS-ADANIPORTS, HCLTECH, TECHM, INFY,GAIL
TOP LOSERS-KOTAKBANK,HDFC,RELIANCE,BAJFINANACE

Monday, December 21, 2020

HUGE DROP IN NIFTY

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Today market witnessed a sharp selloff in afternoon trade ,with most sectors reeling under strong pressure.  Today sensex at 45553 down 1407 points &  nifty settled at 13328 down 432 points. Among the sectors, nifty psu bank cracked around 7%, while media fell over 6%. Auto, bank and metal indices fell up to 5 %. Today Reliance stocks  fell 3 %  to Rs 1934 level in Monday's trade. As a result, its m-cap fell roughly to Rs 12.26 lakh crore intraday from Rs 13.47 lakh crore in the previous day. Tata Power fell 10.70 % to Rs 68 Canara Bank declined 10.35 % to Rs 109.10. Federal Bank fell 9.65 % to Rs 59.95. RBL Bank was down 9.69 % to Rs 205. GMR Infra, BHEL, AU Small Finance Bank and ABFRL declined 8-10 %.The entire Metals basket was quoting in the red. The Nalco falling the most 10 % It was followed by Vedanta (down 8.55 %), Jindal Steel  down 7.50 %, Hindalco down 7.32 % and Coal India down 5.82 %.
If the market stays above 13700, then it should be head to 14,000. Strong support lies at the 13500-13600 levels and as long as that holds, the trend of the index remains bullish and traders can utilize any dip to accumulate long positions.