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SGX Nifty Indicates Positive Opening; India’s GDP Declines 23.9% in Q1 FY21

Global stock markets: Dow 30, -0.8%; S&P 500, -0.2%; Nasdaq, +0.7%; Nikkei, +0.1%; Hang Seng, -0.3%; KOSPI, +0.9%

Yesterday, Nifty opened around 130 points higher but quickly succumbed to selling pressure. The selling started within the first 30 minutes of trading. The fall was the highest since May 18. Domestic cues such as the outcome of GDP data for the June quarter, outcome of the meeting of SEBI with brokers, leading corporates and exchanges, escalation of Indo-China border tensions, and profit booking can be attributed to the fall. The volatility index surged more than 27% due to the aforementioned factors.

Yesterday’s action qualified as a distribution day as the fall was more than 0.2% on volume higher than the previous session. With the increased distribution day count, we changed the market status to an Uptrend Under Pressure. We will change the status to a Downtrend if two or three more distribution days are added or if Nifty breaches the 50-DMA (10,986) and the 200-DMA (10,818). On the flip side, the status will be back to a Confirmed Uptrend if Nifty retakes the 11,795 level (high during the recent rally).

Key News

India’s GDP for the June quarter declined 23.9% due to the imposition of lockdowns across the country. The real GDP, also known as inflation-adjusted GDP, declined 22.6%. However, the Agriculture sector grew 3.4% due to plentiful rainfall.

Arvind reported its Q1 FY21 results yesterday after market hours. Revenue from operations declined 68.4% y/y to Rs 599 crore. It reported a loss of Rs 97 crore, compared with a profit of Rs 24 crore in the corresponding quarter last year.

Ntpc will seek shareholder’s permission to raise Rs 15,000 crore through the issuance of bonds. According to the proposal, the funds are to be raised on a private placement basis in one or more tranches not exceeding 30.

O’Neil Market Condition Report

For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 54%; Rally Attempt, 8%; Uptrend Under Pressure, 30%; Downtrend, 8%.

For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 42%; Rally Attempt, 4%; Uptrend Under Pressure, 50%; Downtrend, 4%.

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4 Different Types of Tea You Didn’t Know About

We’ve all had (or at least heard of) a nice iced tea, green tea, English breakfast, and spicy chai. But these are some of the more popular types of tea out there.

Did you know that there are hundreds of different types of tea? You’re not limited to the chamomile you buy at the store — tea can be made of almost anything and provide a myriad of health benefits to those who drink it!

In this post, we’re going to be looking at 4 different types of tea that you probably didn’t know about. Who knows — maybe you’ll discover your new favorite drink! Maybe because of the taste, maybe because of the ways they will help your body, mind and overall wellness! Let’s dive in.

Mushroom Tea
Did you know that mushroom tea has been around for thousands of years? It was often used by monks in order to calm the mind, focus, and stay grounded to the Earth.

Many cultures around the world depend on mushrooms for health and medicinal treatment methods. However, mushroom tea is now also becoming more mainstream with people all over the world finding the many benefits of these teas, including:

Anxiety reduction
Improved focus
Natural energy (without the crash caffeine brings!)
Relaxation and serenity
Balance
Connection with the Earth
Some studies have even linked the adaptogens in mushrooms to helping patients during cancer treatments and improving the immune system.

If the taste of mushrooms doesn’t excite you, no worries. Mushroom tea can be delicious and paired with a variety of familiar flavors and spices like chai, cinnamon, turmeric, and more.

Yerba Mate
You might’ve seen “yerba mate” making the rounds on some energy drinks, and that’s because it’s packed full of energy in the form of caffeine. The caffeine in yerba mate is completely natural, making it one of the few plants to naturally produce the energy-boosting chemical.

Yerba mate is a tea made from an herb native to South America. Traditionally, it was used to help increase the stamina of the local people while they worked. It was relied upon so heavily that it was dubbed “an herb of the gods.”

With a slightly bitter taste, this interesting type of tea can keep you going all day long.

Maple Tea
Not much to explain with this one. Maple tea originated from, you guessed it, Canada!

Using twigs, leaves, and other parts of the maple tree can provide you with a sweet and earthy tea that tastes like a dessert! Be warned though: it has a very strong maple taste. So if you don’t have a sweet tooth or maple isn’t your favorite, this won’t be the type of tea for you.

Panda Dung Tea
Let’s keep things interesting, shall we? We’re going from the delicious and sweet maple tea to something with “dung” in the title.

Panda dung tea is considered a delicacy in many parts of the world, and it’s one of the most expensive teas you can buy. 50 grams of this stuff will cost you a whopping $3,500… and that only makes about 16 cups of tea! That’s over 200 dollars per cup!

Why are people drinking panda dung tea? Well, the panda’s digestive system is pretty poor — they only digest about 30 percent of what they eat.

That means that their dung is loaded with vitamins and nutrients that can provide a ton of health benefits… if you want to drink their dung, that is.

The teas don’t stop here. We encourage you to explore what flavors you like and try something new or out of the box!

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SGX Nifty Indicates Positive Opening; PVR and SAIL to Report Today

Nifty moved down toward its 50-DMA at the beginning of the last week. However, Thursday’s action helped Nifty reclaim its 21-DMA. On the weekly chart, it found support at its 10-WMA. On Friday, it moved in a relatively narrow range and volume was lesser than the 50-day average trading volume.

During the week, the sectoral indices reaction was mixed. Nifty Energy (+3.3%) was the biggest advancer due to the rally in Reliance Industries (+11.7%), which has over 36% weightage in the index, followed by Nifty IT (+3.1%), FMCG (+0.5%), and Pharma (+0.3%). On the flipside, Nifty Metal (-2.7%) and Pvt Bank (-2.4%) were the major decliners.

As the market condition is in an Uptrend Under Pressure, investors should proceed ahead with caution. Unless a stock shows exceptional fundamental and technical strength, no new addition to the portfolio is advised. Investors should consider booking profits in stocks that have performed well and advanced 20–25% from their ideal buy points. Looking forward, we will change the status to a Downtrend, if more distribution days are added or if Nifty breaches its 50-DMA and 200-DMA. On the flip side, the status will be back to a Confirmed Uptrend if Nifty retakes the 11,795 level (high during the recent rally).

Key News

Apollo Hosps.Enterprise, Steel Auth.Of Ida. (Nse), Nbcc (India), and Pvr will report their Q1 FY21 results today.

Gic Housing Finance reported Q1 FY21 results during the weekend. Revenue from operations was down 1.3% y/y to Rs 306 crore. It reported a loss of Rs 55 crore, compared with a profit of Rs 15 crore in Q1 FY20.

Indiabulls Rlst. (Nse) reported Q1 FY21 results during the weekend. Revenue from operations declined 94% y/y to Rs 47.8 crore. Other income increased 44% to Rs 47.2 crore. It reported a loss of Rs 94.5 crore, compared with a loss of Rs 119.6 crore in Q1 FY20.

O’Neil Market Condition Report

For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 34%; Rally Attempt, 8%; Uptrend Under Pressure, 50%; Downtrend, 8%.

For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 17%; Rally Attempt, 0%; Uptrend Under Pressure, 70%; Downtrend, 13%.

Buy Watchlist:

Bharti Airtel, Biocon (Nse), Balkrishna Industries, Sun Pharm.Industries, Multi Cmod.Ex.Of India, Indian Energy Exchange, Infosys, Tata Consultancy Svs., Escorts, and Aurobindo Pharma

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