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NIFTY/S&P500 at Trendline SupportWe published our initial idea on NIFTY/S&P500 in Oct'21 where we highlighted the long-term resistance which was at play for the ratio chart. That resistance played its role well and now we are at the diagonal trendline support which was created during Mar'20 fall. This is also the 200DMA as well as 200WMA zone for the ratio. Will the Nifty/S&P500 hold this support and return back up from here? We will be watching the price action and keep this space updated.
NSE:NIFTY
by vipulmehta817
ASALCBR is a good Medium Term BetASALCBR Associated Alcohols & Breweries Ltd Chart Structure: - After listing in Feb'20, the stock is in an upward trend since Mar'20 - Stock right now is consolidating after making an All-Time High. - During the consolidation, the stock has taken support multiple times near previous resistance and Avg. Buy price of last Huge Accumulation. Volatility Contraction: - In Day TF, price is forming a triangle pattern. - Stock's Volatility is contracting. As before it was pushed down 20% after making ATH. - Stock rose up again from the support area, and this time it was pushed only 11% down, hence creating a Triangle Pattern. Relative Strength: - Stock is outperforming its sector & Nifty50 in 3m, 6m & 1y TF. It is underperforming in lower tf due to stock being in consolidation. - Stock has turned RS+ again on 8th Oct and is keeping above Laxman Rekha. - Spread chart of the stock has formed a triangle pattern and is near a breakout. Volume Activity: - Stock saw huge Volume Activity from 4th to 12th October 2021. - In that period 14.76 lac shares were delivered with an average of 1.84 lac shares/day with an average buying price of 548/- - Previous average deliveries were 37k shares/day. Financial Performance: - Stock beat its QoQ & YoY Quarterly numbers in Q2. - Sales Growth +50% QoQ & +21% YoY - PBT Growth +36% QoQ & +6% YoY - EPS Growth +41% QoQ & 8% YoY Fundamental Notes: - The company plans to expand its capacity from 45 MLPA to 90 MLPA. The project is expected to be completed by June-2022. That means the Co. will see the double output in 7-8 months. - Company Distil, Blend, Bottle & Market are some of the key brands of United Spirits such as Bagpiper, Blue Riband, Flavored Mischief, Director's special gold & McDowell's Rum. - The contract of this franchise has been extended up to April 2025. - Some other brands which are produced under contract manufacturing are Black Dog, Vat 69, Black&White, McDowells, Royal Challenge, Signature, etc.
NSE:ASALCBRLong
by AmanSaraf
BEL (Medium Term Study)Bharat Electronics Ltd. Chart Pattern: - Rounding Bottom Pattern Breakout - Price consolidating after breakout - Price at ATH - Price once came below the previous ATH levels, but didn't sustain even a day. Previous ATH levels now act as strong support for the price. - Price closed yesterday at ATH after crossing the previous swing high. Relative Strength: - Stock outperforming Nifty50 & its sector in 1w, 1m, 3m, 6m, 1y & 2y timeframe. - Stock is RS+ & RS in inclined upwards. - From the latest ARS date, the stock has outperformed the index by more than 20% - Stock's RS History is good. In previous years, whenever stock turned RS+ it gave good returns. Financial Performance: - Q2 witnessed Sales growth of 123% QoQ & 15% YoY - PBT growth stood at 4489% QoQ & 48% YoY - EPS growth stood at 2460% QoQ & 56% YoY - The Q2 numbers are not a turnaround. Since the company is a PSU and are manufacturers of defense items, therefore their quarterly results are cyclical in nature. - Company's Order book as of Q2 FY21 stands at 52,148 Cr with a fresh order inflow of 1,561 Cr. These orders are for the next 4 FYs. - As per DuPont 5 stage model. Cos. ROE is 19.2% Avg. - Company has zero debts as of last FY and their Net block and investments are increasing YoY along with the sales & net profits. At CMP, the stock price is around 15% away from the base of the last consolidation, so it's not overextended; it could offer a good RR in the long run. Being a PSU, this stock might be a slow grower, but it surely will be a grower. Worth keeping on a watchlist and studying thoroughly
NSE:BELLong
by AmanSaraf
APCL looks good Positionally- Price coming out of Range contraction - Accumulative volumes being witnessed - 1.7x weekly deliveries last week - Increasing Relative Strength - Stock outperforming its sector & Nifty50 in every timeframe except on 3m (due to stock being on a breather) - Quarterly results have been positive for since the last 6 Quarters. - Another positive Q2 will incite price to move much further up. - Cement sector will be the collateral beneficiary of the upcoming rotation in Infra sector.
NSE:APCLLong
by AmanSaraf
NIFTY/S&P500 at Triangle ResistanceNIFTY/S&P500 relative strength chart has reached its descending triangle resistance as seen in this weekly chart. Should this be a reason to worry for Nifty bulls? Maybe, maybe not. Price will tell. Watch for price action in Nifty at the 18500 zone. If resistance kicks in, we may see some price/time correction. If not, we may break out of this descending triangle upper trend line and continue the upward journey. We will be watching. P.S. Similar price action happened in NIFTYIT/NASDAQ relative strength chart a couple of weeks ago and Nifty IT index has been in a corrective stance since then.
NSE:NIFTY
by vipulmehta817