#TweetStorm#AdaniEnterprises Volumes. 1)
Today the stock was up 25-30% in the day. Its a derivative stock. Total Delivery Volumes were 35 lakh shares and only 6.7% of the total traded quantity. Thats roughly 0.3% of Equity. Stock was in #Ban today. Out now.
2) Shareholding Pattern. Promoters own 74.92%, #FIIs own around 20.07%, #MutualFunds mostly arbitrage positions another 1.07%. Thats a sum total of 96.06%. Not much of a change in these owners since a few quarters.#Retail below 2 lakhs paid up capital owns only 2.17%.
The Float available is roughly 4.2 cr shares.
The company added 6700 cr of market cap with a delivery value of around 100 cr odd.
Free Float may be 25% but actual is less than 4%. Why should it be in #Derivatives. #MWPL limits keep it in ban all the time. No view on company.
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Multi-Year Range Breakouts in Nifty50 Stocks but Nifty50 Making Lower Tops –What to Do ?
Apart from that
1) Global Indices – US and Europe near all time highs but India continues to struggle and making lower tops.
2) Stocks in Same Sector – One at all time high the other one at 30% drawdown.
3) What to trust the Breakout Moves or Breakdown Moves ?
This creates a dilemma for a Trader – To trust the Breakout/Breakdown or Not ?
Now lets c the Charts
The Struggling Nifty50
Positive divergences on new lows.
Still in lower tops.
Last major swing highs at 24200.
Swing lows at 22800.
Every big positive candle does not see any follow up action over next 1-3 sessions. Wait for this to change.
#Retail Inflows continue to be strong but Sebi categorization of Stocks > 33k cr Mkt cap being considered Midcap has led to over-ownership and overvaluation in the Top Midcap & Smallcap ( > 20k cr )
Data from Monarch AIF Note.
1) Price CAGR >> Earnings CAGR
Nifty50 and Nifty500 have moved inline with earnings cagr.
NiftyMidcap 100 has seen max re-rating. A price cagr of 27.3% against 11.7% earnings.
2) Concentrated Flows
Mid + Small + Thematic = 55-60% share of MF pure equity net inflows in CY23 and CY24