KPI Green delivered strong Q3 YoY performance with revenue up 44.6%, EBITDA up 72.2% - GEPL Capital Ltd
Market News:
* KPI Green delivered strong Q3 YoY performance with revenue up 44.6%, EBITDA up 72.2%, and net profit rising 39.4%.
* Supreme Industries Q3 YoY performance was mixed, with revenue up 7% and EBITDA marginally higher by 1.6%, while net profit declined 18%.
* Thangamayil Jewellery posted a strong Q3 YoY performance, with revenue and EBITDA more than doubling and net profit rising sharply to ?105 crore.
Technical Summary:
The index opened on a muted note and drifted lower, extending the previous session’s selling pressure. It breached the crucial 25,000 support level and slipped to an intraday low of 24,919. However, the index later witnessed a sharp recovery toward the prior day’s close, scaling an intraday high of 25,300. Despite the rebound, selling pressure resurfaced in the latter part of the session, and the index eventually settled near the day’s lower levels. On the daily timeframe, the index closed near its 200-day DEMA and continues to form lower lows, signalling a cautious near-term sentiment. On the sectoral front, the Metal index emerged as the top gainer, while Capital Market and Consumer Durable indices underperformed and ended as the key laggards for the day.
Levels to watch:
The Nifty has its crucial resistance 25300 (Pivot Level) and 25500 (Key Resistance). While support on the downside is placed at 25000 (Multiple Touches) and 24900 (Key Support).
What should short term traders expect?
The Index can short below 25100 for the potential target of 25000 and 24950 the stop loss of 25170 level.
Technical Data Points
NIFTY SPOT: 25167 (-0.26%)
TRADING ZONE:
Resistance: 25300 (Pivot Level) and 25500 (Key Resistance)
Support: 25000 (Multiple Touches) and 24900 (Key Support).
STRATEGY: Bearish till below 25500 (Key Resistance).
BANK NIFTY SPOT: 58750 (-1.10%)
TRADING ZONE:
Resistance: 59400 (Pivot Level) / 59800 (Key Resistance)
Support: 58500 (Pivot Level) / 58000 (Key Support)
STRATEGY: 58500 (Pivot Level) / 58000 (Key Support)
SEBI Registration number is INH000000081.
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