BUDGET 2023 AHEAD : BULLISH TREND EXPECTED IN CEMENT SECTOR

BUY COROMANDEL FUT 2 LOTS ABOVE 894 TARGET 909/929 SL 874

BUY ULTRACEMECO FUT 2 LOTS ABOVE 7012 TARGET 7137/7229 SL 6912

Cement company stocks have rallied on the back of improving demand leading to price hikes and fall in input cost.On average, all-India cement prices have increased two per cent. The Eastern region, which has witnessed third consecutive hikes, saw an price increase of 4% last month, while the western region registered month-on-month rise of 2%. The southern and northern regions saw a moderate hike of one percent, even while it remained flat in the central regions. With a buoyant demand, cement companies are gearing up another price hike this month.
Driven by housing and infrastructure sectors, the cement industry has witnessed a V-shaped recovery and healthy growth in FY22, At 350 million tones, the demand surpassed pre-Covid levels of 331 MT in FY19 and is expected to grow by 8-9% y-o-y in FY23. Increased government spending on infrastructure and a pick-up in real estate is likely to support demand further. cement companies have raised the prices of their products on revival of demand as construction activities picked up post-monsoon and the Government‘s strong emphasis on housing and infrastructure spending prior to general election. Though the valuation of these stocks have gone up after the recent rally, it will be justified by the improved margins on the back of falling input cost.
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 BUY NIFTY FUTURE ABOVE 18180 TGT 18228/18445 SL 18138

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Bharat Biotech Launch new Nasal Vaccine

 The vaccine, iNCOVACC (BBV154), is available on CoWin, and priced at Rs 800 (plus GST) for private markets and Rs 325 (plus GST) for supplies to the Centre and state governments, the company stated. This means the consumers will be able to receive it for Rs 325 per dose at government hospitals, and for Rs 800 in private setups.

Last month, Bharat Biotech received approval from the Central Drugs Standard Control Organization (CDSCO) for the use of heterologous booster doses of iNCOVACC.

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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.