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NIFTY analysis with experts, Q2 results of Mangal Credit and Kelvin Fincap, Indian markets broke crucial resistance of 10,650 but stays range bound…. Market updates for 16/11/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Q2 results of Mangal Credit and Kelvin Fincap, Indian markets broke crucial resistance of 10,650 but stays range bound…. Market updates for 16/11/18

Report by- Sabyasachi Bhattacharya

 

Mangal Credit announced their Q2 results; Net sales down by 17.88% to Rs 1.98 crores-

Mangal Credit posted a loss in net sales this quarter. Let us review their performance-

  • Net Sales at Rs 1.98 crore in September 2018 down 17.88% from Rs. 2.41 crore in September 2017.
  • Quarterly Net Profit at Rs. 1.17 crore in September 2018 up 0.97% from Rs. 1.16 crore in September 2017.
  • EBITDA stands at Rs. 1.78 crore in September 2018 down 23.28% from Rs. 2.32 crore in September 2017.
  • Mangal Credit EPS has decreased to Rs. 0.06 in September 2018 from Rs. 0.07 in September 2017.
  • Mangal Credit shares closed at 5.17 on November 15, 2018 (BSE) and has given 6.16% returns over the last 6 months and 119.07% over the last 12 months.

 

Let us take a look at their report-

Source- MoneyControl, Purple Trades Research Department   

 

 

Kelvin Fincap announced their Q2 results; Net sales at Rs 0.69 crores, up by 28.51% YoY-

Kelvin Fincorp released their report today. They did decent by increasing the net sales up by 28.51%. Let us take a look at their performance for the quarter-

  • Net Sales at Rs 0.69 crore in September 2018 up 28.51% from Rs. 0.53 crore in September 2017.
  • Quarterly Net Loss at Rs. 0.00 crore in September 2018 down 132% from Rs. 0.01 crore in September 2017.
  • EBITDA stands at Rs. 0.00 crore in September 2018 down 100% from Rs. 0.01 crore in September 2017.
  • Kelvin Fincap shares closed at 428.95 on December 29, 2014 (BSE)

 

Let us take a look at their report-

Source- MoneyControl, Purple Trades Research Department     

 

 

Indian Indices move upwards and closed above 10,600-

Chart source- Upstox

Indian markets had a range bound day throughout. But as our experts predicted yesterday the market did cross the 10,630 mark and went on to go above 10,650 and touch the 10,700 mark. Nifty had a GAP-UP opening today and from there on it went up to touch the 10,700 mark in the morning session itself. Once it reached that level, it soon started falling before finally bouncing off from the levels of 10,650. The market yet again started pacing up for another rally in the lunch session where it managed to go near today’s high but couldn’t sustain those levels and soon started falling to create today’s low. Finally some late reaction by the BULLS made sure that Nifty recovered most of the points it lost during the lunch session. The 30-share BSE Sensex rallied 196.62 points to 35,457.16 and the 50-share NSE Nifty gained 65.50 points at 10,682.20. The recovery and follow-up buying after Monday’s sharp sell-off helped the market close higher for the week. The Sensex climbed 0.8 percent and Nifty rose 0.9 percent. The upside is likely to continue in coming week as well, but overall it could be rangebound trade amid lack of domestic cues. While investors are looking for major triggers for a decisive up move above 10,700 level, stability in INR and oil prices will provide direction to the market despite election led uncertainty. Meanwhile, the rupee appreciated by 16 paise to trade at around 71.82 a dollar. On the global front, Brent crude futures were up 1.5 percent at $67.61 a barrel on expected OPEC cuts.

 

 

 

Let’s take a look at the performance of major Indices-

Global Indices had a mixed reaction today as European market Indices FTSE, CAC and DAX were seen in the RED. The Asian markets had a mixed reaction as NIKKEI was seen in the RED but Straits Times was seen in the GREEN. US markets were up as NASDAQ was in the GREEN.

Source- MoneyControl, Purple Trades Research Department   

 

 

Key Points for Traders to watch out for while trading Nifty tomorrow-

  • 10,630 is a short term support for Nifty.
  • If Nifty breaks 10,630 then it has the potential to go down to the next support at around 10,580..
  • 10,700 is a short term resistance for Nifty.
  • If Nifty goes above 10,700 then it can potentially go up to 10,750 or above.

 

Top sectors that moved the market today-                            Data source- Moneycontrol

 

 

Top Gainers for today-                                                                                        Data source- Moneycontrol

 

 

Top losers for today-                                                               Data source- Moneycontrol

 

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