08:32 AM
The country’s largest IPO opened today, what should be invested?
According to Mint, Jyoti Roy, Equity Strategist (DVP) at Angel One, said that the valuation of Paytm may seem high, but it has become another name for digital payments. It is also the market leader in the mobile payments space. Between Fiscal Year 2021 to Fiscal Year 2026, mobile payments will grow 5 times and Paytm is in a position to benefit the most. In such a situation, it can be said that the expensive valuation of Paytm is also reasonable. We are recommending investors to buy this issue.
Analysts at Choice Broking recommend subscribing to Paytm’s issue for the long term. Considering the market opportunities, product and technology for Paytm, investment in the issue has been advised. Paytm plans to use the funds raised from the fresh issue to add new merchants and customers. Paytm has not raised pre-IPO funds due to differences with investors over valuations.
Regarding the issue of Paytm, ICICI Securities says that due to the advent of new technology every day, the competition in the payment market has increased significantly. If Paytm is not successful in wooing merchants, then it will have a bad effect on its business. The main source of income of the company is payment service. Therefore, investors should invest after understanding its risks and benefits.
08:24 AM
How can the market move today
Karan Pai of GEPL Capital says that the level of 18,050 (20-Day SMA) will act as a resistance for Nifty in the near future. As long as Nifty stays below 18,050, it may see further correction and may see us move towards 17,432 or trade sideways. On the other hand, if it sustains above the 20-Day SMA, then we can assume that the redemption phase or correction seems to be coming to a halt and Nifty may now be seen moving towards new highs at 18,400 -18,600 and beyond.
Last week, mid and smallcaps outperformed the heavyweights. The Nifty Midcap index had gained 0.79 per cent. On the other hand, smallcaps had gained 1.3 per cent. On November 5, the market was closed on the occasion of Diwali Balipratipada.
08: 17 AM
What’s the strategy on NIFTY
Talking on the strategy of Nifty, Virendra Kumar of CNBC-Awaaz said that its resistance zone is 17987-18020 (20DEMA). At the same time, the big resistance zone is 18066-18110. Its base zone is 17833-17790. Whereas the larger base zone is 17777-17751. Today the trend can be seen after the holidays. Below 17987-18020 will see a downside. Support is visible at 17833-790. Trade is possible in the range 18020-17851. Buy on the downside and exit on the upper levels. The setup below 17751 will remain weak. The first day of the week will give a clear indication of the trend.
08: 06 AM
What is the strategy on NIFTY Bank
Strategy on Bank Nifty, Virendra Kumar of CNBC-Awaaz said that Bank Nifty has weakened over the past few sessions. Nifty 20 remains above DEMA. There is heavy call writing at the level of 40000. Put writers are active at the level of 39000. Trading is possible in the range of 40040-39040. Buy on the downside and exit at higher levels. Buy above 40040 and sell below 39000. In the same Bank Nifty, the first resistance is at 39866-40040 and the second resistance is at 40288-40455. At the same time, the first base is at 39310(20DEMA)-39040 and the second base is at 38846-38610.
07: 56 AM
Results of 2000+ companies will come this week
It’s a big week in terms of quarterly results. More than 2000 companies will present quarterly figures. Today the market will be watching the results of Britannia and Aurobindo Pharma.
07: 47 AM
PAYTM’s IPO will open today
The IPO of PAYTM’s parent company ONE 97 COMMUNICATIONS will open today. Its price band is between 2080 to 2150 rupees. The company will raise a total of 18 thousand 300 crores. The country’s biggest issue has received a bumper response from anchor investors. 8 thousand 235 crore has been invested.
07:39AM
BATA Q2: Earnings up 67%
BATA India’s results have been good in the second quarter. The company has come in profit of 37 crores from losses. There has been an increase of 67% in income. Margins have also shown improvement. The profit of DIVIS LAB has increased by 17% in the same Q2.
07: 33 AM
sleeping at 2 months high
Gold’s shine has increased due to the Fed’s decision. The price of COMEX GOLD has crossed $1800. Gold prices have reached a 2-month high on expectations that the Fed will not raise interest rates soon.
07: 25 AM
Demand to cancel future coupon deal from CCI
INDEPENDENT DIRECTORS OF FUTURE RETAIL have written a letter to CII. There is a demand to cancel the approval of FUTURE COUPONS DEAL. AMAZON has been accused of concealment of facts and misrepresentation.
07: 15 AM
Global cues mixed, early pressure on Asia
Global cues look mixed on the first day of the week. Asia has seen initial pressure but SGX NIFTY has gained a quarter percent. Flat trading is happening in DOW FUTURES. However, the US markets closed at record levels on Friday on good job numbers.
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