The Hunting Grounds

C.E. INFO SYSTEM LIMITED ( MAPMYINDIA)

MapmyIndia (C.E. Info Systems Ltd.) is a mapping and geospatial services company in India, with stock performance influenced by its niche market and recent earnings announcements. As of early November 2024, the stock is trading around INR 2,070, reflecting a recent 4.88% increase in the last 24 hours, though it's been volatile over the past year. MapmyIndia’s stock performance is marked by both growth potential and challenges, evident in its mixed financial results and fluctuating price targets.
MapmyIndia remains attractive due to its high-profit margins, relatively low debt, and consistent demand for digital mapping and data analytics in India. The stock's operating profit margin (OPM) stands strong around 40%, with sales showing a compounded annual growth rate (CAGR) of 28% over the trailing twelve months, signaling resilience in its core business despite recent challenges.

Price Action:

★ The stock is currently priced at 2070 having shown a strong upward trend over the last several weeks.

2. Support and Resistance Levels:

★ Immediate resistance is placed at 2117.17 just above the current price,which act as a critical level for further bullish continuation.

★ Important support levels include:
1997.67 (short-term support)
1925.33 (medium-term support)
1878.17 (long-term support zones).

3. Volume and Trend:

★ The stock shows significant buying interest, with volumes spiking in line with the uptrend.

4.Relative Strength Index (RSI):

★ The RSI is around 54.15 indicating that the stock is in the mild bullish range and have good potential in futures.

Conclusion:

★ Bullish Scenario: A breakout above 2117.17 could lead to further upward momentum, potentially taking the price higher.

★ Bearish Scenario: A failure to maintain above 1997.67 may see the stock correcting to lower support levels like 1878.17

★ Operation strategy-
Buy Price : 2070
Target price: 2110 / 2150 / 2200
Stop loss price: 2020

The Indian stock market benchmark indices Nifty 50, are likely to open lower and remain volatile on Thursday amid mixed global market cues.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,450 level, a discount of nearly 140 points from the Nifty futures’ previous close.
On Wednesday, the domestic equity market indices ended over 1% higher each, with the Nifty 50 rising above the 24,400 level.Nifty 50 settled 270.75 points, or 1.12%, higher at 24,484.05 .
The present upside bounce of the last couple of sessions is confirming a formation of a crucial bottom reversal pattern around 23,800 levels. Hence, a decisive move above the key overhead resistance of 24,500 could open more upside ahead. Present reversal in Nifty from the lows is also signaling a formation of larger degree higher bottom formation as per weekly timeframe chart. This is a positive indication and more upside from here could confirm the higher bottom reversal.

GREAVES COTTON LIMITED

Greaves Cotton's stock is showing positive growth in its market cap, now at approximately INR 43.74 billion—a notable increase of around 41% over the past year. The stock is currently trading around INR 187.67, up from previous levels, reflecting increased investor interest and confidence in the company.
Greaves Cotton, primarily known for its cleantech powertrain solutions across CNG, petrol, and diesel engines, has recently focused on electric vehicle (EV) innovations, which has contributed to its growing appeal. The company presented new EV models at major auto expos, including both two- and three-wheelers. This expansion into EV technology aligns with broader industry trends and could offer sustained growth potential, especially as India pushes towards greener technology.
From a technical perspective, the stock’s average movement over the past 50, 100, and 300 days indicates upward momentum, suggesting investor optimism. For investors, Greaves Cotton could be a promising long-term choice .

Price Action:

★ The stock is currently priced at 187.67 having shown a strong upward trend over the last several weeks.

2. Support and Resistance Levels:

★ Immediate resistance is placed at 192.23 just above the current price,which act as a critical level for further bullish continuation.

★ Important support levels include:

183.33 (short-term support)
178.99 (medium-term support)
174.43 (long-term support zones).

3. Volume and Trend:

★ The stock shows significant buying interest, with volumes spiking in line with the uptrend.

4.Relative Strength Index (RSI):

★ The RSI is around 55.90 indicating that the stock is in the mild bullish range and have good potential in futures.

Conclusion:

★ Bullish Scenario: A breakout above 192.23 could lead to further upward momentum, potentially taking the price higher.

★ Bearish Scenario: A failure to maintain above 183.33 may see the stock correcting to lower support levels like 174.43 .

★ Operation strategy-

Buy Price : 187
Target price: 205 / 215
Stop loss price: 175

SUMITOMO CHEMICAL INDIA LIMITED

Sumitomo Chemical’s recent stock performance reflects both market challenges and its strategic initiatives in the chemical sector.
In the first quarter of fiscal 2024, Sumitomo Chemical’s earnings per share (EPS) and revenue fell short of analyst expectations, which led to a downward adjustment in consensus EPS forecasts by about 24% for upcoming quarters. Despite this, the company saw a slight revenue growth of 8.7% quarter-on-quarter, reaching JPY 612 billion by June 2024.From a valuation perspective, Sumitomo Chemical's stock appears relatively undervalued with a price-to-sales (P/S) ratio of 0.27, which is low for the industry, suggesting potential upside if demand recovers.

Price Action:

★ The stock is currently priced at 560 having shown a strong upward trend over the last several weeks.

2. Support and Resistance Levels:

★ Immediate resistance is placed at 571.90 just above the current price,which act as a critical level for further bullish continuation.

★ Important support levels include:

552.80 short-term support)
544.95 (medium-term support)
533.70 (long-term support zones).

3. Volume and Trend:

★ The stock shows significant buying interest, with volumes spiking in line with the uptrend.

4.Relative Strength Index (RSI)

★ The RSI is around 54.10 indicating that the stock is in the mild bullish range and have good potential in futures.

Conclusion:

★ Bullish Scenario: A breakout above 571.90 could lead to further upward momentum, potentially taking the price higher.

★ Bearish Scenario: A failure to maintain above 552.80 may see the stock correcting to lower support levels like 533.70 .

★ Operation strategy-

Buy Price : 560
Target price: 590 / 620
Stop loss price: 535

The Nifty-50 Index consolidated during the last week; however, it ended 0.05% higher at 24304.35, pausing its losing spree during previous weeks. Bank Nifty also ended the week 1.7% higher.

Nifty continues to consolidate within the 24,000-24,500 range, and a breakout on either side is expected to determine the next direction . An upward breakout past 24,500 could see the index target the 24,800 mark .

Key Resistance and Support Levels for Nifty :

• Resistance Levels: 24,250 and 24,500.
• Support Levels: 24,200 and 24,000