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GIFT Nifty 🇮🇳: (-89, 26167)

A modestly weak start for Indian equities this morning FIIs turned net sellers in yesterday’s otherwise positive session.

Adding to the cautious tone, Wall Street hit the pause button overnight, with the Dow Jones slipping lower after briefly climbing above the 48,000 mark, as investors booked profits amid mixed cues.

Market sentiment was further dampened after Fed Chair Jerome Powell pushed back on expectations of a December rate cut.

Meanwhile, the 2-key positive takeaway from yesterday’s trade was that:

1) Nifty finally reclaimed the much coveted 26000 mark.

2) The good news was that all the sectoral indices ended in green indicating all-round buying at Dalal Street.

Bottom-line: A softer start likely amid global caution, but underlying domestic strength remains the key anchor. All anxious eyes now on the face-to-face meet of President Trump and Chinese President Xi Jinping.

STOCKS IN SPOTLIGHT:

1) Coal India (-2.16%) dropped after it reported that its net profit slumped over 50% on the quarter to Rs 4,354 crore during July–September.

2) Varun Beverages (+9.10%) gained after it announced that its looking to forays Into Alcohol Business.

3) Computer Age Management Services (CAMS) (-3.25%) plunged after SEBI’s proposals in mutual funds triggered concerns for the sector.

4) M&M Financial shot higher after its Q2FY26 total Income moved up 12.7% to Rs 5,049 crore versus Rs 4,479 crore. Net Profit up 45% to Rs 564 crore versus Rs 389 crore.

5) BHEL Q2 profit tripled to Rs 375 Crore, revenue rose by 14.1% year-on-year for the three months ended September, reaching Rs 7,511.8 crore.

6) Blue Dart Express rallied 20% after the company’s standalone net profit climbed 30.8% to Rs 79.50 crore on 7% increase in net sales to Rs 1,549.33 crore in Q2 FY26 over Q2 FY25.

7) Adani Green Energy (+11.06%) rallied after reporting over two-fold jump in Q2 PAT to Rs 583 cr.

Key Earnings on radar this week:

 Thursday (October 30): ITC, Pidilite Industries, Cipla, Canara Bank, and Dabur India.

 Friday (October 31): Maruti Suzuki India, Bharat Electronics, Shriram Finance, Godrej Consumer Products, and ACC.

Now, before we get into detail of today’s trading session, here is the preferred trade on Nifty and Bank Nifty:

Nifty (26054): Buy at CMP. Stop at 25621. Targets 26107/26277. Aggressive targets at 26700-27000 zone.

Bank Nifty (58385): Buy at CMP. Stop at 56660. Targets 58550/58900. Aggressive targets at 59300-59500 zone.

Our chart of the day is bullish on DELHIVERY, LAURUS LAB, L&T FINANCIAL, HUDCO and CANARA BANK on any early excessive intraday weakness with an interweek/Intermonth perspective.

The 1 Stock to Buy Right Now: Buy DELHIVERY (CMP 485): Buy at CMP. Stop at 463. Targets 503/523. Aggressive targets at 561. (Interweek Strategy). Rationale: Signalling a massive breakout on the daily charts. The sequence of higher high/low is intact on all time frames. Key interweek support 451. Major hurdles only at 503 mark. 200-DMA at 368.

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