Angel Broking

Motilal Oswal Financial Services is the only stock among major broking firms that slipped to a fresh 52-week low last week

In another development, Sebi also revoked an order passed against Abhay Bhutada, MD and CEO of Poonawalla Finance

Operating revenue grew a strong 16 per cent QoQ and 77 per cent YoY to Rs 410 crore, driven by a healthy performance across Broking and interest income

Traders are advised to continue with a stock specific approach but keep booking timely profits as well

Sameet Chavan of Angel Broking recommends buying HPCL, and shorting Titan and Tata Steel

Angel Broking on Thursday said it has onboarded 450,000 customers in August, taking the total base to 6.1 million

The immediate supports for Nifty are placed around 16,600 and 16,500 while the levels to watch on the upside will be 16,800 and then 17,000 mark

We are not at all advising to go against the current trend; but at least taking some money off the table on existing positions is always a good ploy, he says

In spite of a stellar run last year, India's retail participation is around the 4 per cent mark, unlike the US and China, where participation is 32 per cent and 11 per cent, respectively, he said

Considering the historical trend, 'August' month is known for bigger moves. So it would certainly be interesting to see which direction market decided to move in

The company said it witnessed strong gross client addition of 1.20 million in Q1FY22 as compared to 0.96 million clients in Q4FY21

During the first half of this week, 15,750 - 15,800 are the levels to watch out for and the first of sign of strength would come only after reclaiming 15,800 on a closing basis

Angel Broking, IIFL Securities, Aditya Birla Money, Geojit Financial, Edelweiss Financial, Motilal Oswal Financial and ICICI Securities gained between 4% and 15% on the BSE

We advise traders to lighten up positions at higher levels and it​'​s better to take one step at a time for the time being

Every 100 points upside level in Nifty should be treated as an immediate resistance and now this level comes at 15,800

The existing logo of the Company shall be replaced with the new logo

On the flipside, 15,300 - 15,150 - 15,000 are to be considered as immediate supports.

Increased volumes-based buying shows market participants' keen interest in brokerage firms

In the past one week, the stock has zoomed 61 per cent, after the company reported a healthy 39% QoQ jump in its consolidated net profit at Rs 102 crore in the March quarter

Angel Broking registered the highest ever quarterly and yearly gross client addition of approximately 1 million and 2.4 million clients in Q4FY21 and FY21, respectively