- 14 hours ago
Market experts suggest that metals, healthcare, banking, and even commodities like silver continue to show strength and could offer attractive short-term opportunities.
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00:00Good morning and welcome to Market Opening, our brand new collab show between Business
00:19Today and India Today TV just after 9am and we're here to get you ahead of the curve as
00:24markets kick off trading for the day. Let's take you through the top stories of this hour.
00:30A big day for UK-India ties with visiting British Prime Minister Keir Starmer. Set to meet Prime
00:36Minister Modi today, Starmer is leading a high-powered delegation of more than 120 top
00:41CEOs and academic leaders to India and has said he wants the FTA with India implemented
00:47as soon as possible. Groundwork laid last evening in a meeting between the Indian and British
00:53trade ministers. Pressure on Trump to reset and repair frayed
01:00ties with India. 19 American lawmakers write to the US President say the tariffs have strained
01:06relations with the world's largest democracy. Emphasize that the relationship with India
01:10demands recalibration not confrontation. The International Monetary Fund has hailed India's development
01:19into a key growth engine even as China steadily decelerates. Warns of downside risks to the
01:25world economy but adds it is proving more than resilient and more than expected. Asked India
01:31to stay on course with reforms and ensure that small companies and start-ups are given space
01:36to flourish. Sebi targets large trades and stock exchanges issues new rules for block deals to make them more
01:46transparent and efficient. Revised price range and larger minimum order sizes likely to bring liquidity and
01:53prevent price manipulation. New rules are effective 7th of December. Markets could open in the green today if
02:02the US and Asia are any indication. Renewed tech and AI focus lifts Asia this morning. Gold and crude inching lower
02:09on news of a deal with the Hamas. TCS meanwhile kicks off earnings season today.
02:23Alright, let's take a look at the global setup overnight then. As we just spoke about, US and Asia are looking
02:29fairly good, indicating possibly some amount of momentum here on D Street as well. Let's pull up those indices
02:36for you. S&P 500 up about half a percent. NASDAQ was looking good. So tech back in action as well.
02:41And we saw that carry forward into Asia. Let's pull out some of those tech majors for you. And of course,
02:46there you have it on the Asian screens. Shanghai Composite and Nikkei both up over a percent.
02:51So looking good this morning. Shailendra Bhatnagar with us as always. Shail, what's in store for us
02:56when it comes to the Nifty today?
03:01Well, Abha, a very good morning to you and to all our viewers. You've started the conversation with
03:06saying that it's likely to be in the green. And green it is, ladies and gentlemen, on this
03:10wonderful Thursday. 28 points higher on the Nifty as far as pre-open is concerned.
03:1425,074. Abha, a lot of large caps are showing signs of breakout.
03:21Telecom giant, Bharti Airtel, Bajaj Finance, Larson and Tubro, Indigo.
03:27Both the OMC twins, HPCL and BPCL, as also MCX. So we are seeing strength.
03:34Yesterday, if you note, I had mentioned that 25,000 will be tested. Well, it was.
03:39And there's a very strong bounce coming in there. The only, how should I say, problem in the pack is
03:46gold, which starts life above $4,000 an ounce. And therefore all traders and silver traders
03:54would be on that side. But low ticket, high beta items in the PSU space and other deep value spaces
04:04will continue to attract trader interest. And we are well on our way for a festival high this Diwali.
04:13Okay, let's also bring you those comments from the IMF. The International Monetary Fund has hailed
04:18India as a key growth engine for the world economy. Speaking at an event in Washington DC,
04:23the IMF MD, however, pushed for economic reforms and said the world would find its way around Trump tariffs.
04:29Listen in.
04:34Global growth forecast at around 3% over the medium term, way below the pre-pandemic 3.7% level.
04:44Global growth patterns have been changing over the years, notably with China decelerating steadily,
04:56while India is turning into a key growth engine.
05:03Durably lifting growth requires, above all, higher private sector productivity.
05:12My main message is, you look at the history of humanity, the history of the economies, it is a history of trade.
05:22Trade is like water. You put an obstacle in front of it, it goes around it.
05:29Of course, we want more efficient economies, but we may see regional activities in trade and more broadly,
05:41cooperation among neighbors, among countries that share common objectives to deepen.
05:49Rajesh Pal, we are head technical and derivative research also joining us this morning of Access Securities.
05:56Rajesh, good morning. What's the index looking like to you?
05:58We did test the 25,000 mark yesterday. How are we set to shape up this Thursday?
06:04Good morning, Abha. Good morning, everyone.
06:06So looking at the profit booking at higher level, still 25,100, 25,200 are the major supply zone based on the call concentration area.
06:16So if Nifty needs to continue further higher, so it has to cross 25,200, which is the major call concentration area.
06:23If any breakout comes about 25,200, I think some short covering action we may see in this market
06:28and then possible rally can extend to 25,400 also.
06:33On the Bank Nifty also, we have witnessed some profit booking at higher level,
06:37but still looking at the overall structure for Bank Nifty, I think here we may see a continuation of up move.
06:43And once Bank Nifty manages to cross above 56,000, I think here we could see a good rally to unfold
06:51and possible rally towards 56,500, even 56,800 we could see.
06:57So for Bank Nifty, one needs to keep a stop loss towards 55,700.
07:01Till these levels are intact, I think one should remain on the long side of trade.
07:05And for Nifty, till we are holding about 25,000, I think here also one can remain on the long side of trade.
07:12Breakdown below 25,000 may attract unwinding trade.
07:15But till these levels are intact, I think one should buy on dips would be the strategy.
07:20All right. I want to just focus on TCS for a moment.
07:23Shell earnings today. And as always, TCS usually sets the trend.
07:27We also know the Tata Group has been in a lot of news lately.
07:30Even the earnings were pushed, but they've come back with a press conference pretty quickly.
07:34Muted set of numbers expected, but everyone's eyeing the commentary.
07:40What should we watch out for on TCS today?
07:46I've had two things. The guidance, if any, talk about further retrenchments.
07:52And of course, the trajectory of AI.
07:55These are the three things that I am looking for as far as the general management talk is concerned.
08:02The flat expectations of quarterly net profit at 12,664.
08:06And of course, revenue is likely to inch up at 64,860 crores.
08:13Abha, a lot of expectations have been built up in the institutional side.
08:17Major funds have taken a lot of positions on the long side in these beaten down counters like TCS Infosys in August and September.
08:28Right. Absolutely.
08:29Rajesh, a quick call from you as well on TCS and the IT basket as we count down to opening.
08:34So IT basket is still struggling to recover, but in the last couple of days, we have witnessed some buying action in IT stocks from the lower level.
08:44Looking at the structure, TCS is now almost trading nearer to its 20-day, 50-day resistance area, which is placed at 3050 level.
08:51So any breakout above 3050 can take this stock further higher and then we may see some short covering action.
08:58But at this juncture, I would advise keep stop loss towards 2970 if you are on the long side of trade.
09:04Alright, that's the opening bell for you. Let's pull up the index.
09:07Martial uptick, as was anticipated. Spot a green on the screen.
09:1125075 is where we're headed at this point of time.
09:14Let's pull up some of those gainers and losers.
09:16The bank, Nifty, currently flat, slightly in the red there.
09:21IT, however, looking strong, up about 4 tenths of a percent.
09:24We're watching out for TCS today.
09:26On your screen, Cipla, Zomato, Dr. Reddy, some of the top gainers in trade so far.
09:31We've also got Sun Pharma, M&M, Tara Steel bringing up that list.
09:35So about 0.5% to 1% gains coming in on some of those top line stocks.
09:39On the downside, pressure continues on some of those consumer names.
09:42Nestle, Tara, Consumer.
09:44HDFC Bank is down by 0.5% this morning.
09:47We've got Access, ITC, Bajaj Auto also bringing up that list there.
09:52Shell, what are you spotting on opening?
09:54We have 1,068 shares in the green versus 580 in the red.
10:05The rallies led by the Nifty Pharma Index.
10:07A strong traction coming into real estate stocks.
10:10IT is looking good.
10:12Let's start with the big boy itself and show you what TCS is up to.
10:17Strength here, Infosys up 12 rupees 40.
10:21TCS up 16 rupees 90.
10:23In fact, the entire gaining part of the Nifty is because of TCS, Infosys and of course a breakout in Eternal.
10:33Abha, this is something to look forward to.
10:36Festival season, lots of ordering and Eternal at 345, 4 rupees 30 higher.
10:43Okay, let me get a quick call on Eternal from Rajesh.
10:47Rajesh, on the charts, how's it looking?
10:49Abha, stock is in uptrend only.
10:52We have witnessed, you know, continuation of uptrend.
10:54Stock is moving in up, sloping channel on weekly charts.
10:56Series of higher top, higher bottom formation is taking place, which is a sign of sustained buying action.
11:01So, I think we could see further higher level in Eternal, possible target towards 360 to 370.
11:07We may see in the continuation of this uptrend.
11:09So, one should buy and accumulate this counter if you get any opportunity in minor dips.
11:14On the downside, 336 needs to keep as a stop loss.
11:18Okay.
11:19Well, a few stocks in news.
11:21As Shail also mentioned, about from IT, we've got Pharma, real estate in motion today.
11:26MQ Pharma, by the way, revenue has gone up 18%, debt down 56%.
11:32And remember, they made that Zovantis acquisition.
11:34That's clearly added muscle for the counter.
11:37So, MQ in the news and it's up about 1.5% today.
11:40On the real estate front, and we've had a whole host of counters in the news.
11:43But today, prestige, Q2 sales up 50% year on year.
11:47That's to over 6,000 crores.
11:49So, that's prestige in the news for you.
11:50Let's pull that up on the screen as well.
11:526% higher on a prestige estate.
11:55Okay, Rajesh, let's talk about real estate.
11:56Let's also pull up some of the other counters because Shoba had a great set of numbers as well.
12:00Clearly, we're seeing a lot of traction here, even when it comes to fundamentals and, you know, earnings performance.
12:07Rajesh?
12:08Yeah, definitely.
12:10So, most of the real estate stocks are now consolidating at lower end of this corrective move.
12:16But in last couple of days, most of the stocks have attracted buying action.
12:20And now, stocks are, you know, on a verge of giving breakout.
12:24If we analyze the structure of prestige, it's almost negotiating with its falling trend line on the weekly chart.
12:31So, I think here, if it's able to cross 1620 level, I think here, there would be a breakout trade and then possible really towards 1680, we may see in the short-term perspective.
12:43So, prestige, yes, one can hold the long position.
12:46At this juncture, we would advise to keep stop loss towards 1565.
12:50Again, in the same space, I think one can focus on DLF also.
12:54Here also, we believe that, you know, the way stock is, you know, now consolidating at lower band of this correction.
13:02If these stocks manages to cross over 745, here also, we may see some short-covering action.
13:09So, I think real estate is one sector where, you know, one can buy and accumulate.
13:13Yes, maybe we could see some time correction also, but gradually this sector may recover and we could see good rally in going forward.
13:22Okay. Rajesh, what else is on your radar? Let me get your topics this morning.
13:27So, I think metal and healthcare space is looking attractive.
13:31Fortis Healthcare, the continuation of uptrend is there and the way stock is outperforming in this market.
13:37So, I think Fortis can extend its gain.
13:391075, 1085 would be the target for Fortis Healthcare.
13:43Buy on dips would be the strategy on the downside.
13:461025 needs to keep as a stop loss.
13:49Again, from the metal pack, I think one can focus on Tata Steel also.
13:53This stock is also poised to give breakout above 176.
13:57And looking at the near-term, short-term structure, we believe that, you know, this stock has potential to extend its gain towards 185 to 186.
14:04So, Tata Steel also buy with stop loss of 171.
14:08And one banking stock that we are focusing at this junction is RBL Bank.
14:12Here, we have already seen a breakout of flag formation.
14:16And the way buying action was there in previous day, I think this stock has potential to extend gain towards 295.
14:23So, RBL Bank also one can keep on their buying list with stop loss of 276.
14:28All right.
14:29In fact, RBL also in the news.
14:32Citogen has bought 33.2 lakh shares at about 284 rupees each.
14:37So, that's the latest on RBL Bank, up about 2.5% this week.
14:42We've got a whole host of other stocks in the news as well.
14:45Escorts Kubota, they're looking to invest 2,000 crores in Haryana by 2031.
14:49We've got Hyundai in the news with some relief coming in from the ITAT, likely seeing some refund benefit there as well.
14:58So, a couple of those names in the news as well.
15:00Let me go across to Shell once again to see what else is exciting him when it comes to the broader markets.
15:06Shell, we were talking about pharma, we were talking about healthcare and pharma is clearly buzzing today.
15:11What else is catching your eye?
15:12Absolutely, Abha. Pharma and hospitals all the way.
15:19Look at Indraprasth Medical, 1.4% higher.
15:23Fresh record high.
15:25And a very, very strong volume breakouts happening in Aurobindo Pharma.
15:29Lupin as also the stock that you mentioned, Prestige.
15:35Very, very high trader interest coming into these two.
15:38And you won't, you will actually believe this, but let me point this out.
15:43The strongest traded equity product at the moment is silver bees.
15:50Three and a half percent higher, 157.6.
15:55The rally absolutely refuses to pause.
15:59In fact, this is as Rajesh ji would put it, a stretched chart that he would probably be a better person to comment on silver.
16:10Rajesh, you want to come in there?
16:12Seen a very strong rally in silver as well as in gold.
16:18And the way it's still continuing its uptrend in overbought trajectory.
16:23I think it's very difficult to trade these kind of, you know, chart pattern.
16:28But yes, buy on dips is the strategy.
16:31Until the silver knot breaks below 1,42,000 level, I think a trend is likely to exhibit on the bullish side only.
16:40So whatever minor dip we are getting in gold and silver are attracting the buying interest for minor dips.
16:47So 1,42,000 is the crucial level on the downside.
16:51But I think looking at the buying interest, the kind of flows which are coming in the buying side, even in the previous day also, we have seen most of the silver ETF were up around five to six percent.
17:03Despite underlying was not moved up that much, but still the flows are there in ETFs also.
17:10So I think this momentum can extend further, could be higher target.
17:15We may see 1,55,000 or 1,60,000.
17:18So rally is there.
17:20Blue sky territory is there for both asset class like gold and silver.
17:24As you can see, all the silver ETFs up today.
17:27So clearly that trend playing out across the precious metal as gold goes above $4,000.
17:34All the action moving to silver there.
17:37Okay.
17:38It's a day for some hard talk between the prime ministers of India and the United Kingdom.
17:42But yesterday, on the eve of the talks, Keir Starmer was subject to a strong dose of soft diplomacy and asked to light dias ahead of Diwali at an event in Mumbai.
17:51The event marked the deep cultural ties between India and the UK.
17:55Meanwhile, the stage is set for talks between Prime Minister Modi and Starmer,
17:59with the latter leading a far-packed delegation of 125 CEOs and other top minds from the UK.
18:06Around an hour from now, the Maharashtra Raj Bhavan will host a bilateral between the two.
18:11A media statement by the prime ministers is expected at around 11.30am.
18:15This afternoon, the two will also attend the Global FinTech Fest.
18:19The big focus, of course, is on trade, defence, tech cooperation under the India-UK partnership roadmap.
18:25Let's also go across to Aastha Chopra.
18:27She's joining us from Mumbai with all the latest updates.
18:30Aastha, what are some of the key expectations from this meeting, especially on trade and investment?
18:39Well, this meeting will be the most important meeting for the UK-India trade as well.
18:43First of all, we would like to show you that the queue has been started since 6am in the morning
18:48and they are ready to witness the key session of Modi and the UK Prime Minister as well.
18:56And what's going to happen today, what's going on today's agenda is that Modi and UK PM is on a two-day tour in India,
19:05which will be very important for the two-day trade mission which they are on.
19:09First of all, the major important thing is that along with the Prime Minister of UK,
19:14there will be 125 CEOs of different companies from the British will be coming here at a trending.
19:23Some of the most important companies, we also got the list and they are coming across the sector,
19:27especially aerospace, engineering, telecommunications.
19:30And some of the company's CEOs which will be accompanying the Prime Minister of UK will be
19:36Rolls-Royce, British Telecom, Diego, British Airways and BP, London Stock Exchange Group.
19:42So, these are some of the names of the 125 CEOs of the companies which will be accompanying UK PM.
19:49So, we will be expecting at 1.40 that the session will start at the Global FinTech Fest today,
19:55where they will both address the media and basically the key points for their talk points will be the trade.
20:01Of course, it will be revolving around the FinTech space and the opportunities which they can be having business in India,
20:09especially now.
20:10What has Modi already done since he has come to Mumbai?
20:14First of all, he has inaugurated the Navi Mumbai Airport yesterday
20:19and also had given the green flag to the Mumbai Metro on the south line.
20:23Now, at 10 o'clock, the UK PM and the India PM will meet at Raj Bhavan in Mumbai.
20:31Right.
20:32And they are expected to come by 1.40 PM at the Global FinTech Fest.
20:36Thanks for that, Aastha.
20:38Alright, we have time to just take a couple of queries on the markets
20:42before we wind up the show this morning and both very relevant queries.
20:46One is coming in from Gauri in Noida. Rajesh, she is asking, with rising gold prices, should she invest in gold or gold-related stocks?
20:54I think with all the talk of silver this morning, even I am wondering what you are going to reply to her.
20:59So, gold is also attracting buying interest as we have seen very strong really in the last couple of months for gold.
21:09And looking at the trajectory, I think gold may extend its gain.
21:13And I think in market, I think gold finance company may get, you know, benefit of this thing.
21:18So, I think Mannapuram Finance as well as Muttu Finance and from banking space, Federal Bank,
21:23these three, you know, proxy play to the gold would be looking attractive at this juncture.
21:30So, I think Mannapuram Finance, she may, you know, keep investing.
21:35Looking at the overall structure, I think Mannapuram can extend its gain.
21:39320 to 330 would be the next target in the continuation of this support.
21:44On the downside, 282 needs to keep as a stop loss.
21:47And on the banking space, Federal Bank, again, this bank is also involved in the gold finance business.
21:54And the kind of breakout which we are seeing in weekly chart, we could see really towards 215 to 220.
22:01So, Federal Bank is also by with stop loss of 198.
22:06Fantastic.
22:07And we also have Meera Patel of Vadodara asking that with the Trump tariff uncertainty,
22:13should she take a risk in investing in IT, pharma, textiles, exports?
22:17Also relevant given the buildup we're seeing in some of those segments today.
22:21Shell, let's get a quick comment on that one.
22:23You're talking about which set of stocks?
22:30IT, pharma, textiles, basically the export-related basket.
22:34Absolutely, Abha. I think the best bet would be tech stocks.
22:44You can go in for ITBEES.
22:47This is an ETF floated by Nippon India AMC.
22:51That's the best bet.
22:53A lot of institutional money has gone into buying this deep value, debt-free companies with huge, huge cash reserves.
23:04And this is a trade which will reflect very well over the next two quarters or so.
23:11Again, consult your financial independent advisor before you get into ITBs.
23:16All right.
23:17So ITB, we've got silver ETFs.
23:20Gold continues to be attractive.
23:22As Rajesh just highlighted, some of the stocks set to benefit on that front.
23:25We've got real estate in the news.
23:28I'll bring up prestigious states for you once again, because that's clearly the star newsmaker this morning.
23:33Keep an eye on TCS earnings.
23:35That's the big one that we're watching out for today, setting the tone and the mood for the market going forward.
23:40So keep an eye on TCS.
23:42And pharma, the other newsmaker.
23:44A lot of breakout action coming in there.
23:46That's why we leave it on the show today.
23:48Thanks so much for watching.
23:49Thank you, Sheryl, Rajesh.
23:50And do join us back at 3 o'clock for market closing.
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