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Nifty analysis with experts, Stock analysis of UBL, TCS announced their Q3 results, Indian markets fallback…. Market updates for 10/01/19

PurpleTrades - stock market courses > News > Nifty analysis with experts, Stock analysis of UBL, TCS announced their Q3 results, Indian markets fallback…. Market updates for 10/01/19

Report by- Sabyasachi Bhattacharya

 

TCS Q3 result; let’s take a look at their performance –

Software firm TCS on January 10 reported 2.6 percent sequential growth in December quarter profit at Rs 8,105 crore with constant currency revenue growth of 1.8 percent quarter-on-quarter (QoQ) meeting analyst expectations. The bottomline growth was driven by other income (up 59 percent QoQ) but limited by weak operational performance. The company had reported a profit at Rs 7,901 crore in the quarter ended September 2018. Revenue during the quarter grew 1.3 percent QoQ to Rs 37,338 crore in the October-December quarter. TCS reported 2.6 percent sequential growth in December quarter profit at Rs 8,105 crore driven by a 59 percent QoQ increase in other income, but limited by weak operational performance. The constant currency revenue growth was 1.8 percent QoQ. The company had reported profit of Rs 7,901 crore in the quarter ended September 2018. Revenue during the quarter grew 1.3 percent QoQ to Rs 37,338 crore in the October-December quarter. The year-on-year (YoY) growth in profit was 24.1 percent, and revenue in constant currency terms increased 12.1 percent YoY, the highest in 14 quarters. Revenue in dollar terms was higher by 0.67 percent QoQ at $5,250 million in Q3FY19 and constant currency growth stood at 1.8 percent against 3.7 percent in the previous quarter. Operational performance for the quarter was weak as EBIT (earnings before interest & tax) declined 2.12 percent sequentially to Rs 9,564 crore in Q3FY18 and margin contracted to 25.6 percent against 26.5 percent in September quarter.

Source-MoneyControl, Purple Trades Research Department 

 

UBL stock analysis; weakness detected in the stock-

United Breweries Limited which is in the brewery business is showing bearish divergence on the chart. The chart given above is a daily chart of UBL where the resistance between then stock price of UBL and the RSI is clearly evident. Also there is a MACD bearish crossover for the stock which will help the analysis. This is a clear indication that the stock might fall back to lower levels. Currently the stock is trading at 1378. It has the potential to go down to 1344. PurpleTrades advises but not recommends everyone who is holding the stock to sell it before the bearish divergence shows its true colors.

Source-Purple Trades Research Department 

 

 

Indian markets witnessed a pullback after several bullish sessions-

Chart source- Upstox

Indian markets had a Bearish day today as Nifty showed a lot of volatility. As you can see BEARS dominated at regular intervals. As you can see the markets had an open equals to high opening today. After the open equals to high opening the markets moved downwards. It consolidated a little before actually moving upwards and hitting today’s highs. But due to heavy selling the markets moved downwards. It was due to the anticipation of Q3 results of various companies like TCS and Bandhan Bank. At the end of the day it’s a negative end on the market on Thursday, with the Nifty holding on to 10,800-mark. There was some weakness in the financials space, which weighed on the indices. Automobiles and pharmaceuticals, among others, were the other big gainers. There was a considerable outperformance by the Nifty Midcap segment, gaining almost half a percent. At the close of market hours, the Sensex was down 106.41 points or 0.29% at 36106.50, and the Nifty down 33.60 points or 0.31% at 10821.60. The market breadth was negative as 1217 shares advanced, against a decline of 1362 shares, while 153 shares were unchanged. Tata Motors, NTPC, and Titan were the top gainers, while IndusInd Bank, Kotak Mahindra Bank, and HPCL lost the most.

 

 

 

 

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

Global markets had a bearish day today. Asian Indices along with European Indices CAC and NIKKEI were all seen in the RED. NASDAQ was also seen in RED.

Source- MoneyControl, Purple Trades Research Department 

 

 

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

  • 10,750 is a short term support for Nifty.
  • If Nifty breaks 10,750 then it has the potential to go down.
  • 10,800 is a short term resistance for Nifty.
  • If Nifty breaks 10,800 then it has the potential to go up.

 

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