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Alltimehigh

PostMortem on BankNifty Today & Analysis of 21 JUN 2023Yesterday I said, " I will be a believer if we continue the green spell tomorrow also." - guess what Finnifty hit all time high today at 19660.1 at 13.55. This is partly due to the news flow in HDFC & HDFCBK (both are having good weightage in finnifty). This is the main reason it outperformed with gains of 0.68% whereas Nifty & Banknifty had gains of 0.21% each. Today proved to be a perfect day to deploy straddle on banknifty - the momentum to swing was low and open/close were quite nearby. I assume most of the traders would not have deployed it as we had some aggressive move last hour yesterday. Nifty50 on the other hand provided adequate volatility to drive up the options prices much better than BN. The period from 09.55 to 11.15 looked dangerous & I was looking for bearish trades. Again the strength of bulls outpaced the bears - we had a gradual recovery and closed near the high point of day. The biggest difference in trade today BN vs N50 was the volatility. BN was not at all interested in going up or down, whereas N50 had eyes to take out the ATH. Unfortunately we fell short today also. INFY & KOTAKBANK pulled the plug after 15.05 otherwise we should have seen history in the making! I personally think the HDFC-HDFCBK moves 1.63% & 1.75% were unusual and this should have broke the existing rhythm of BN's movement. I would like to see tomorrow's price action i.e. expiry trades too and then become a proper believer. One of the reason I am saying that is even with gains of 1.75%, hdfcbk could only move BN up 0.21%, there were many trades taken on the other banks to counter-balance the upmove in HDFCBK. I would like to see how it pans out tomorrow, esp after 14.00. --- 15mts is still sloping downwards indicating weakness. Its not an outright bearish view but somehow BN is not that excited with N50 going for new highs.  --- 1hr shows a converging pattern unless we breakdown from the 43402 levels & cross 43253 quickly. Currently what BN is lacking is momentum, only a downward move will give it strength to rally & break through!
NSE:BANKNIFTY
by viswaram
This software services company has picked up bullish momentum!This software services company has picked up bullish momentum! NSE:CIGNITITEC Cigniti Technologies Ltd is engaged in providing quality engineering & software testing services to clients across various industries. It was incorporated in 1998 in Hyderabad, Telangana. Total Revenue for this quarter increased by 33.34% year-on-year EBIDTA for this quarter increased by 71.89% year-on-year Net Profit for this quarter increased by 75.33% year-on-year EBITDA margin increased from an average of 12.67% over the last 4 quarters to 16.47% Net Profit margin increased from an average of 8.17% over the last 4 quarters to 10.68% Technically the price has run up a bit, but it could still be considered for entry on pull-backs Disclaimer: This is for informational purposes only. It is not intended to be a solicitation or an offer to buy or sell any security or instrument or to participate in any particular trading strategy. The views and opinions expressed here are personal. The information contained here has been obtained from sources believed to be reliable but is not necessarily complete, and its accuracy cannot be guaranteed. I may have positions in the securities or instruments shared as ideas. Do your own research OR consult a financial advisor for personalized investment advice.
NSE:CIGNITITECLong
by UnknownUnicorn23435789
Speciality chemicals company blasts off to new all time high!Speciality chemicals company blasts off to new all time high! NSE:GANESHBE Ganesh Benzoplast Limited is an India-based company, which is engaged in the manufacture, export and import of a range of specialty chemicals, food preservatives and industrial lubricants. Net Profit increased by 37.89% year-on-year EBIDTA increased by 43.68% year-on-year EBITDA margin increased from an average of 20.45% over the last 4 quarters to 25.91% Net Profit margin increased from an average of 11.47% over the last 4 quarters to 14.39% Over the last 5 years, revenue growth has averaged 29.22%, vs industry avg of 12.4% Over the last 5 years, net income has averaged 98.73%, vs industry avg of 19.89% Disclaimer: This is for informational purposes only. It is not intended to be a solicitation or an offer to buy or sell any security or instrument or to participate in any particular trading strategy. The views and opinions expressed here are personal. The information contained here has been obtained from sources believed to be reliable but is not necessarily complete, and its accuracy cannot be guaranteed. I may have positions in the securities or instruments shared as ideas. Do your own research OR consult a financial advisor for personalized investment advice.
NSE:GANESHBELong
by UnknownUnicorn23435789
This IT midcap stock is soaring to new all time highs!NSE:KPITTECH KPIT Technologies is a tech giant that specializes in computer programming, consulting and other related services. A specialist in embedded software, AI, and digital solutions, it helps companies adopt next-generation mobility tech. The company has R&D units throughout Europe, the United States, Japan, China, Thailand, and India. Quarterly Y-o-Y sales, net margin and EBITDA have shown 40-50% growth in the past year. However, the margins have not shown much growth. ROE and ROCE have been well above the cost of capital in India at more than ~20%. Promoter holding is healthy with negligible pledging. With consistently higher dividends, the company is expected to post good results in the coming quarterly earnings. Stock price has jumped about 40 per cent in the last six months and tested a new all-time high today. Evidently the stock price is showing great relative strength compared to Nifty which has been in correction since many weeks. Source: tickertape.in, screener.in Disclaimer: This is for informational purposes only. It is not intended to be a solicitation or an offer to buy or sell any security or instrument or to participate in any particular trading strategy. The views and opinions expressed here are personal. The information contained here has been obtained from sources believed to be reliable but is not necessarily complete, and its accuracy cannot be guaranteed. I may have positions in the securities or instruments shared as ideas. Do your own research OR consult a financial advisor for personalized investment advice.
NSE:KPITTECHLong
by UnknownUnicorn23435789
Leading logistics player is all set to test all time high!NSE:AEGISCHEM Aegis Logistics Limited (AGL), a leading oil, gas, and chemical logistics company in India, operates a network of bulk liquid handling terminals, liquefied petroleum gas (LPG) terminals, filling plants, pipelines, and LPG gas stations in order to provide products and services. ROE/ ROCE are good at about ~17% Debt to equity ratio is good with healthy interest coverage ratio Promoter holding pattern is decent with no pledging Although revenue growth and earnings are showing signs of slowdown, the margins and EBIDTA are showing good recovery since last couple of quarters suggesting good times ahead On the technical side, price is just shy of testing all-time high and has been rallying in a strong uptrend since the past 2 quarters Compared to benchmark index Nifty, the stock is showing impressive relative strength Price is breaking out of a 1-month base with heavy volumes suggesting strong buying interest Source: tickertape.in, screener.in Disclaimer: This is for informational purposes only. It is not intended to be a solicitation or an offer to buy or sell any security or instrument or to participate in any particular trading strategy. The views and opinions expressed here are personal. The information contained here has been obtained from sources believed to be reliable but is not necessarily complete, and its accuracy cannot be guaranteed. I may have positions in the securities or instruments shared as ideas. Do your own research OR consult a financial advisor for personalized investment advice.
ALong
by UnknownUnicorn23435789
This aluminium microcap company is ticking all the right boxes!NSE:MAANALU MAAN ALUMINIUM is a fairly established company mainly dealing in the manufacturing of aluminum products. Exclusive dealer of Aluminium ingots and Billets for Hindalco Industries Ltd. for North and South India. They also deal in scrap trading. ROE/ ROCE are good at more than ~20% Promoter holding profile is good with no pledging Debt to equity ratio and interest coverage are good YoY quarterly Revenue, net profit and EBITDA showing impressive growth YoY quarterly EBIDTA and NET margin are also improving On the charts the price broke out strongly out of a base with heavy volumes and is at an all time high Relative strength to the benchmark index is also high Sources: tijori finance, screener.in, tickertape.in Disclaimer: This is for informational purposes only. It is not intended to be a solicitation or an offer to buy or sell any security or instrument or to participate in any particular trading strategy. The views and opinions expressed here are personal. The information contained here has been obtained from sources believed to be reliable but is not necessarily complete, and its accuracy cannot be guaranteed. I may have positions in the securities or instruments shared as ideas. Do your own research OR consult a financial advisor for personalized investment advice.
Editors' picks
NSE:MAANALULong
by UnknownUnicorn23435789
3
Consumer and building products company gives price breakout!Somany Home Innovations Limited (SHIL) is a company engaged in the business of consumer appliances, retail, and building products. Popular brands from this company are HINDWARE, MOONBOW, and EVOK In recent quarters: - Sales of the company are increasing quarter on quarter; however, at a slower rate - Margins in the business are starting to show improvement - Increasing sales and improving margins are contributing to higher net profits - The company has invested heavily in the last few years causing a dip in the returns, but the investments can contribute to greater operating leverage - Overall company is showing good signs of profitability in the near future - debt to equity ratio is a little high but offset by a healthy interest coverage ratio On the price charts: - Price has broken out of a cup and handle base formation in the last two weeks with heavy volumes - This week, the price touched all-time high after minor consolidation despite a down-trending market showing high relative strength Sources: tijori finance, screener.in, tickertape.in Disclaimer: This is for informational purposes only. It is not intended to be a solicitation or an offer to buy or sell any security or instrument or to participate in any particular trading strategy. The views and opinions expressed here are personal. The information contained here has been obtained from sources believed to be reliable but is not necessarily complete, and its accuracy cannot be guaranteed. I may have positions in the securities or instruments shared as ideas. Do your own research OR consult a financial advisor for personalized investment advice.
NSE:HINDWAREAPLong
by UnknownUnicorn23435789
This auto parts manufacturer is rising steadily to all-time highNSE:MAHINDCIE The company is a auto components supplier to global automotive companies which include Volkswagen, JCB, Daimler AG , Hyundai etc. Fundamentals: -> TTM: sales have grown 20% and TTM EPS has grown >50% -> Quarterly: sales increased >30% YoY and EBIDTA up by 20% YoY -> Quarterly Margins have remained stagnant YoY indicating slow down in further growth -> promoter holding has increased however by 2.79% in past two quarters Technicals: -> Stock price has moved up ~15% in past week on higher volumes -> Stock price has retested a darvas box pattern last week and broken out of it again -> Stock is nearing its all-time high -> Stock is forming higher highs and higher lows consistently without deep corrections Feel free to share your research or thoughts in comments! Sources: tradingview, screener.in, tickertape.in Disclaimer: only for educational/ research purposes. not a investment recommendation.
M
by UnknownUnicorn23435789
This wire rope supplier is fighting off the bears! NSE:USHAMART While the entire market is in deep red, this stock has stayed resilient! While the company has posted good profit growth of >20% on a 5 year basis, high percentage of promoter pledging is a red flag. Nonetheless, company's business is robust with strong numbers posted quarter on quarter for the past two years in terms of sales growth, earnings growth, and net margins. This has had a positive impact on the overall solvency of the company with an interest coverage ratio of 12. Technically, the company is near its all time high prices and showing great relative strength in a falling market Price and volumes have been surging since last few sessions making it a good company to study further Disclaimer: for research/education purposes only. not an investment advice/ recommendation. Sources: company website, screener.in, tickertape.in
NSE:USHAMART
by UnknownUnicorn23435789