The Nifty Index opened positive above 25k marks and witnessed buying interest throughout the session. It remained range-bound in the second half of the session but managed to close with gains of around 160 points. It formed a bullish candle daily frame and closed above its 50 DEMA.
Now it has to hold above 25000 zones for an up move towards 25,350, then 25,450 zones, whereas supports are placed at 25,000, then 24,850 zones.
On option front, Maximum Call OI is at 26,000 then 25,500 strike, while Maximum Put OI is at 25000 then 24000 strike. Call writing is seen at 25,400, then 25,600 strike while Put writing is seen at 25,100, then 24,100 strike. Options data suggests a broader trading range in between 24,700 and 25,600 zones while an immediate range between 24,900 to 25,300 levels.
The Bank Nifty Index opened on a positive note and extended the momentum towards 51,750 zones in the initial hour of the session. Later, it remained consolidative at higher levels with a positive bias as good buying was seen in private banks.
It formed a bullish candle on a daily scale and gave a range breakout on the daily scale above 51,750 zones. Now it has to hold above 51,500 zones for a bounce towards 52,350, then 52500 zones, while on the downside, support is seen at 51,500, then 51250 levels.
The Fin Nifty Index opened on a positive note and gained further in the first half of the session and tested 23,850 zones. It remained consolidative in a range of 60 points in the second half of the session but more importantly, it managed to hold its morning gains.
It formed a bullish candle on the daily scale and closed above its 50 DEMA after six trading sessions. Now it has to hold above 23,750 zones for a bounce towards 24,000, then 24,150 levels while support is seen at 23,750, then 23,650 zones.
The Nifty Future closed positive with gains of 0.75 per cent at 25,237 levels. Positive setup in Federalbnk, Oberoirlty, Tech M, Persistent, HDFC Life, HDFC Bank, Kotak Bank, OFSS, MCX, PEL, Glenmark, Nationalum, Divislab and TVS Motor, while weakness in Tatachem, IGL, Colpal, Gujgas, ONGC, Concor, Bajaj Finance and Dabur.
HDFC LIFE - TECHNICAL CALL OF THE DAY
A Double Bottom pattern has appeared on the daily chart with an upward breakout, which suggests bullish sentiment. It is respecting 50 DEMA and supports are gradually shifting higher.
The RSI indicator has turned up which confirms the up move.
Buy HDFC LIFE CMP 740 SL 722 TGT 780
Top 5 Stocks To Watch Out For October 15
Reliance Industries:
Reliance Industries Ltd. reported its Q2FY25 earnings, with a net profit rise of 11per cent to Rs 19,323 crore. The growth in profit was partially offset by negative pressure on gross refining margins affecting the O2C i.e. oil-to-chemicals segment. However, strong performance in the telecom and retail segments contributed positively.
On a consolidated basis, Reliance reported a revenue decline of 0.3 per cent QoQ to Rs 2.31 lakh crore while EBITDA was up 0.8 per cent to Rs 39,058 crore, with margins expanding from 16.7 per cent earlier to 16.9 per cent against an expectation of 14.30 per cet. Overall, the Q2FY25 numbers were ahead of street estimates.
HCL Technologies:
HCL Tech reported a strong quarter, with revenue growing 1.6 per cent QoQ in constant currency and EBIT coming in at 18.6 per cent. This growth was well distributed across verticals, geographies, and offerings. The management expects revenue growth to be expected between 3.5 per cent-5.0 per cent in constant currency terms, with EBIT Margins to be between 18.0 per cent-19.0 per cent for FY25.
Honeywell Auto:
Honeywell Auto has secured a contract to provide its Airfield Ground Lighting (“AGL”) system for the Noida International Airport (“NIA”). These systems will provide visual guidance to aircraft, increasing safety and streamlining operations across the tarmac. Honeywell’s visual aids will play a crucial role in helping aircraft manoeuvre the tarmac in difficult weather conditions and will support landing and on-ramp safety.
Lyka Labs:
Lyka has developed a novel patent pending topical gel formulation of Pregabalin. After extensive research and successful completion of the Phase III Clinical Trials, Lyka has received the CDSCO approval for manufacturing and marketing of Pregabalin Gel 8 per cent w/w for the use in patients with Diabetic Neuropathic Pain.
Sunteck:
The company had pre-sales of ~Rs 524 crore in Q2 FY25, up 32.7 per cent on YoY basis. During H1FY25, pre-sales registered a growth of 31.2 per cent YoY to ~Rs 1,026 crore from ~Rs 782 crore in H1 FY24. In terms of collections, Sunteck ha YoYad collections of ~Rs 267 crore in Q2FY25, up 24.8 per cent on a YoY basis. For H1FY25, collections stood at ~Rs 609 crore, a growth of 21.3 per cent on YoY basis.
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