NIFTY AT 17500? REACTIONS TO THIS WEEK'S SELL-OFF

Nifty has broken through the rising support trend line, indicating that bears have complete control. Friday's Nifty selloff got even worse after the 50-pack index broke through its crucial support of 18,000 with a gap-down opening. During the session, the 50-pack index tested levels below 17,800 and formed large bearish candles on daily and weekly charts. According to analysts, the bears are completely in charge, and the Nifty could move towards the 17,500 level in the coming days.

The index dropped below the 200-DEMA in addition to falling below 18,000." The daily momentum indicator is falling and crossing in a bearish direction. The mood has taken a very negative turn; a further downfall is normal from here, with a potential close term reach of 17,550. Opposition on the better quality is apparent at 18000-18,100. The index ended the day at 17,806.80, down 1.77 % or 320.55 points. The index was down 462.20 points, or 2.53 % , for the week. On the daily scale, the index formed a bearish candle and has been making lower lows for the past seven sessions. We anticipate that the index's weakness will continue as long as it stays below 17,950. The levels of 17,950 and 18081 are designated as hurdles for the index. Nifty has breached the rising support trend line, indicating that bears have complete control. It has reached the 20-week moving average on the weekly charts, which may provide some relief the following week. However, it probably won't last long, and the overall short-term trend has turned negative. On the negative side, we anticipate that the Nifty will fall below 17,560, the 61.82 percent Fibonacci retracement level of the rise from 16,748 to 18,889. The levels of critical support range from 17,730 to 17700, while the levels of immediate resistance range from 17,930 to 10,000.

WEEKLY REPORT FOR STOCKS

Balkrishna Paper Mills jumped over 10 per cent in Thursday's trade to take its four-day winning gains to 71 % , even as the company management said it is not aware of any material development that requires stock exchange filings. The scrip, though, witnessed multiple bulk deals on Wednesday. The company said it has made prompt and adequate disclosures of all events or information that have bearing on its  operations and performance including all price sensitive information and that there was no information or announcement which was pending to be disclosed to stock exchanges.  We further inform you that as on date, there is no information or announcement which is pending to be disclosed which in our opinion may have a bearing on the price/volume behavior in the scrip. The stock rose 10% to hit a high of Rs 50. This is in addition to a 20 per cent jump each in the previous two sessions and a 9% rise on Monday. On Wednesday, four bulk deals took place on the counter in Rs 44.73-46.20 price range. On Thursday, the scrip had buy orders of 16,682 shares against sell orders of 1,840 shares.
Balkrishna Paper Mills is part of Siyaram Poddar Group, which is into the diversified businesses of manufacturing textiles, garments yarn, home furnishings and paper. The company makes coated duplex boards, which are used for packaging by various industries such as pharmaceuticals, toiletries, cosmetics and healthcare products, readymade garments, instant food products, match boxes, incense sticks. Balkrishna Paper Mills Limited began its journey with humble roots in Maharashtra.Paper stocks has seen dream run in 2022, with West Coast Paper Mills up 126%, JK Paper rallying 102, Tamil Newsprint up 96% , Andhra Paper up 88 per cent), Seshasayee Paper up 86 % Star Paper Mills up 47% seeing strong gains.

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MPHASIS & APPOLLOHOS STOCK PREDICTION

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Mphasis's sequential revenue growth trajectory in Q3 would be impacted by a lower number of working days, deferred spending, and continued mortgage weakness (an increase in US interest rates). The administration anticipates that Q4 development should be preferable over Q3 development.Openness of Mphasis to the loan fee delicate piece of the business is in a low single-digit level of income and the steady effect will be restricted. Mphasis, notwithstanding, has openness to home value advances and Home Value Credit extensions, which might go under pressure assuming home costs right sharpl. Mphasis is still confident that it will achieve an EBIT margin of 15-17% for FY23, but growth moderation will slow the rate of margin expansion. due to the revised forex assumption for H2FY23 and lower growth assumptions, we have revised our EPS estimates by 0.1% to minus 2.7% for FY23E-25E. Our goal has been pushed back to December 2024, and the target multiple has been reduced to 22x, taking growth moderation into account.

"SELL APOLLOHOS FUT 2 LOTS ABOVE 4795
TARGET 4705/4615 SL 4945"

Investors have expressed primary concerns regarding Apollo Hospitals due to the delay in the company's fundraise as well as the increased competitive intensity for 24/7. Kotak said it agrees that Apollo Healthco needs to raise money to stop the core business from running out of cash. However, Apollo Hospital's fundamentals are still strong even without the money because of the strong free cash flow (FCF) generated by the hospital and offline pharmacy segments. The medium-term outlook for Apollo Hospitals remains positive, despite a 3Q that is expected to be seasonally weak. It builds in 330 bps hospital Ebitda margin expansion over FY2022-24E led by improved occupancy, a higher international patient mix, case mix, and ongoing cost savings, aided by improved profitability in both mature and new hospitals. Apollo Hospitals continues to experience strong demand tailwinds across all segments, and execution remains impressive. The hospital segment of APHS is trading at a 20-time implied valuation at CMP, which is lower than that of peers like Max Healthcare.

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STOCK MARKET OUTLOOK FOR TOMORROW 22-12-22

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The Indian market's volatility increased as a result of spiraling coronavirus cases in China and the Bank of Japan's decision to keep interest rates elevated for a longer period of time. After opening on a positive note, the market became caught in the negative sentiment. The 30-pack BSE Sensex was down 635 points, or 1.03%, at 61,067 at the close, and the Nifty lost 186 points, or 1.01%, to finish the volatile day at 18,199. Indian shares opened higher on positive global cues, but as reports of a worsening COVID situation in China began to come in, sentiment quickly turned negative. The government and its think tank, Niti, sounded concerned about the COVID situation that was developing and the repercussions of it, which made the mood even worse. The Covid scare in China and elsewhere caused another drop in benchmark indices, but today's drop was more obvious to participants because pathology labs, hospitals, and a few pharma counters that sell Covid-related drugs were all covered in red. Even though developed markets continued to trade in the green in the early sessions, all sectoral indices ended in the red, with the exception of healthcare and IT.

Today Nifty IT gained half a percentage point, while the Nifty Pharma gained 2.4%. Financials and metals were the biggest losers, both losing more than 2%. Both automobiles and real estate ended the day down 1.6% and 1.4%, respectively. The Nifty's biggest losers were Adani Enterprises, Adani Ports, IndusInd Bank, Bajaj Finserv, and UltraTech Cement, all of which lost between 2.1 and 6.3%. Divis Labs led the gainers with a 5% increase, while Apollo Hospital, Cipla, Sun Pharma, and HCL Tech also saw gains of one to 3.7 % on the nifty.

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