Will the reversal continue?

Good Morning Everyone, As discussed in our weekly meet, The action of FIIs needs to be seen at end of this day to understand how the market can move further as there is no other major news for the market this week. However, As I said, 17800 will be major support downwards and we need to see if 18100 can act as support after the Nifty closed just above 18100 on Friday. We will implement our strategies as discussed in the meet.

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Global Markets:

The American markets rose back after the fall on Friday, The Dow Jones Industrial Average rose 179.08 points, or 0.5 percent, to 36,100.31. The S&P 500 gained 33.58 points, or 0.72 percent, at 4,682.85 and the Nasdaq Composite added 156.68 points, or 1 percent, at 15,860.96.

Asian shares rose this morning as US stock futures gained, though investors were cautious ahead of a batch of Chinese economic data due later in the day. MSCI's broadest index of Asia Pacific shares outside Japan was up 0.4 percent. Japan's Nikkei 225 index was up 0.5 percent, but China's Shanghai Composite was down 0.1 percent.

Indian Market:

Trends on the SGX Nifty indicate a gap up opening at around 18200, but we need to see is if it can sustain above 18100 today.

Goldman Sachs has downgraded Indian equities by one notch to ‘market weight’, citing a blistering run this year that has made them the best performing emerging Asian market.

Indian stocks have rallied nearly 28 percent in 2021 on the back of ultra-easy monetary policy, rising vaccinations, and the economic reopening, compared with a 0.76 percent drop in the MSCI Emerging Market index.

Results Today

Advance Syntex, Binani Industries, Containerway International, East India Securities, Esaar (India), GCCL Construction, Gold Line International, GV Films, Hemadri Cements, Integra Capital Management, Jai Balaji Industries, Kotia Enterprises, KSS, MSP Steel & Power, Newtime Infrastructure, Parle Industries, PB Films, PG Foils, Rajesh Exports, Ravi Kumar Distilleries, Rollatainers, Samtel India, Silver Oak (India), Tinplate Company of India and Simmonds Marshall are among 83 companies that will release their September quarter earnings on November 15.

FII and DII data

Foreign institutional investors (FIIs) were net buyers and picked up shares worth Rs 511.10 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 851.41 crore in the Indian equity market on November 12

Stock Specific News:

PB Fintech | The operator of Policybazaar will make its debut on the bourses today. The final issue price has been fixed at Rs 980 per share.

Sigachi Industries | The company's shares will be listed on the exchanges today. The final issue price has been fixed at Rs 163 a share.

SJS Enterprises | The decorative aesthetics products manufacturer will list on the BSE and NSE today. The final issue price has been fixed at Rs 542 per share.

Maruti Suzuki India | The automaker got clearance for a new manufacturing plant. Haryana government has approved an allotment of 900 acres of land for Maruti Suzuki's new manufacturing plant.

Nykaa | FSN E-Commerce Ventures, which operates Nykaa, said its net profit stood at Rs 1.2 crore for the quarter ended September 2021 as compared to a net profit of Rs 27 crore in the quarter September 2020. Revenue grew 47 percent to Rs 885.3 crore YoY.

Fino Payments Bank | The bank reported a 74 percent jump in net profit to Rs 7.89 crore in Q2 FY22 while revenue grew 35 percent YoY to Rs 242.15 crore.

Coal India | The company's profit dipped to Rs 2,932.7 crore in Q2 FY22 from Rs 2,951.6 crore a year ago. Its revenue rose to Rs 23,291 crore from Rs 21,153.1 crore YoY.

ONGC | The company's profit jumped to Rs 18,347.7 crore in Q2 FY22 from Rs 4,334.7 crore in Q1 FY22. The company's revenue was at Rs 24,353.6 crore, up from Rs 23,021.6 crore QoQ.

Hero MotoCorp | The company posted a profit of Rs 794.4 crore in Q2 FY22 as compared to Rs 953.4 crore a year ago. Revenue came in at Rs 8,453.4 crore against Rs 9,637.3 crore a year ago.

BEML | The company's revenue came in at Rs 1,000.42 crore in the quarter ended September, as compared to Rs 663.95 crore a year ago. Profit dropped to Rs 13.80 crore in the reporting quarter against Rs 18.36 YoY.