Observation Index continues to make new lows, though closing above lower band of the falling channel. In last three trading sessions shadows have been longer with shorter body. Although this does not signify any reversal, it is the combination of candles which will signify pullback. Yesterday index also filled up its gap range 10790-10840. We […]
Nifty view:- setup turning Bearish Nifty and Banknifty shed close to 6% and 7% respectively in July. It was the worst July month since 2013 monthly chart of nifty is currently showing triple negative divergence which indicates any pullback in index will be short lived. Trade:- Nifty did not close below 11080 thus long call […]
Strong operating performance, however, higher credit cost led to lower profitability; stable asset quality. Deep Dive Analysis (Q1FY20) · Axis Bank’s Q1FY20 results missed the PAT estimate due to higher credit cost aided by elevated slippage. Bank reported 13% growth in net interest income to INR 58.4bn, on back of stable margin and 13% […]
Nifty view:- setup turning Bearish Nifty closed below 11100 and closed near to our stop loss level of 11080 for our Premptive trade. If index closes below 11080 risky traders are advised to close long position. Monthly chart analysis Now, looking at the monthly chart of nifty it is showing triple negative divergence which indicates […]
Index View Positive Nifty saw some recovery yesterday after testing 200dma. Market is also showing intermarket divergence. Bank Nifty did not make any new low yesterday. Beside this Nifty tested our mentioned level of 11150 and made new low yesterday. A close above 11250 Such divergence within with strong breadth should now confirm bottom in […]
Result below expectations on account of higher than expected slippages and credit costs Deep Dive Analysis (Q1FY20) · Net interest income for the quarter grew 39% YoY to INR 2,988cr on back of robust AUM growth and 12bps YoY expansion in Net interest margin (NIM) to 10.9%. AUM grew by 41% YoY to INR […]
Index View Rangebound Observation The index yesterday tried to show some strength in the first half of the day but reversed all its gains after facing resistance at 11350 and closed in red for sixth consecutive day As per our view, the july series expired at 11250 and haven’t showed any volatile move during the […]
Observation The index extended its losing streak to fifth day and broke the crucial support of 200 DEMA at 11297. Previous in 2018 Daily RSI level of Nifty was at 31 and index marked bottom at this level. Currently RSI is at 32 ,there is a high probability that index can bottom out once RSI […]
Robust premium income growth with improving profitability Elevator Analysis (Q1FY20) Net Premium Income was at INR 6,457 cr, up 29% y-o-y and down 37% sequentially (Q4 is a seasonally strong quarter) New business development remained robust with NBP up 47% y-o-y and APE up 67% y-o-y and VNB margin expanding by 560 bps y-o-y PAT […]
In this edition of Annual Report Insights, we analyse Voltas. FY19 was challenging. The company chose to defend market share over profitability and hence – along with peers – focused on a cautious increase in cost while navigating currency volatility. Prepayment of creditors and higher inventory dragged free cash flow to minus INR4bn. In the […]