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Economic Times
2 days ago
- Business
- Economic Times
Is the BFSI sector set for a major breakout in June?
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel A look at select stock futures that have seen higher-than average rollovers to June series, and their near-term outlook. Analysts said that the BFSI (banking, financial services, and insurance) sector is on the verge of a fresh breakout and looks firm in the uncertain (Rs): 105.8 Change in Open Interest in June Series: +6.1% Change in price in June Series: +3.4%PNB added over 6% open interest in the June series as long positions were built on Friday. Vipin Kumar, assistant vice president, derivatives and technical research, Globe Capital Market, said the stock had witnessed a bullish breakout with a noticeable rise in volumes on daily charts.'Considering the current chart patterns and strong long buildup, we expect it to move northward till it is trading above Rs 100 levels and anticipate it to test Rs 112-Rs 115 levels in the immediate near term,' he said. He suggests buying the June future for a target of Rs 112-Rs 115, with a stop loss at Rs 100 (ex-dividend support at Rs 97, effective June 20)CMP (Rs): 121.9 Change in Open Interest in June Series: +1.8% Change in price in June Series: +2.3%Kumar said strong rollovers of nearly 98% were seen on expiry day—signifi cantly higher than the past three months' average of 91%—and the stock has also registered a bullish breakout on weekly charts, setting the tone for a medium-term up move.'Considering both technical charts as well as derivatives data, we expect a strong bullish momentum in this counter till it is holding above Rs 114 levels (ex-dividend support at Rs 110) and likely to test Rs 129-Rs 135 levels in the near term,' he (Rs): 237.6 Change in Open Interest in June Series: +59% Change in price in June Series: +2.5%'Manappuram Finance has broken out of a tight consolidation range between Rs 220 and Rs 235, after spending nearly two months near its record high,' said Ajit Mishra, senior vice president, research, Religare said the stock's chart pattern, along with a noticeable surge in volumes and open interest, indicates a likely resumption of the uptrend. He suggested traders buy its June contracts for a target of `256, with a stop loss at `232CMP (Rs): 919.7 Change in Open Interest in June Series: +0.8% Change in price in June Series: +0.6%'From a technical perspective, SBI Card is sending early reversal signals, trading close to the neckline of a multi-year base pattern and staying comfortably above its key moving averages on the daily chart—both are solid markers of enduring strength,' said Dhupesh Dhameja of Samco. He said fresh long trades can be considered from Rs 910-Rs 921, for a target of Rs 1,050, with a stop loss at Rs (Rs): 814 Change in Open Interest in June Series: +10% Change in price in June Series: +2.1%Mishra said the market is witnessing noticeable traction in the PSU banking space, with SBI also participating in the move. The stock has seen a breakout and a strong surge in open interest. 'All indications suggest that the prevailing bullish tone is likely to strengthen further,' he said. Mishra suggests traders buy its future for a target of `864, with a stop loss at ` (Rs): 2,669 Change in Open Interest in June Series: +17.7% Change in price in June Series: +8.3%The stock surged about 27% in May and hit a fresh 52-week high on Friday and led to high trading volumes following Sebi's decision to restrict weekly expiries to Tuesday and Thursday, which is expected to benefit the exchange's Dhameja, derivatives analyst, Samco Securities, said the alignment of technical resilience and strong derivative signals presents a compelling case for further upside potential in the coming sessions. He said traders may consider initiating fresh long positions around Rs 2,600- Rs 2,670, with a target of Rs 3,020. The bullish view remains intact as long as the stock holds above Rs 2, (Rs): 195 Change in Open Interest in June Series: +19.2% Change in price in June Series: +1.9%'With an impressive 95.21% rollover rate, it's evident that market participants are keen to carry forward their bullish bets, boosting optimism heading into the new series,' said said the stock is trading above its 10- and 20-day moving averages, and other indicators also confirm that bullish momentum is alive and well. Dhameja said traders can create fresh long positions between Rs 187-Rs 195, for a target of Rs 225. The stop loss is at Rs 172.
Time of India
2 days ago
- Business
- Time of India
Is the BFSI sector set for a major breakout in June?
A look at select stock futures that have seen higher-than average rollovers to June series, and their near-term outlook. Analysts said that the BFSI (banking, financial services, and insurance) sector is on the verge of a fresh breakout and looks firm in the uncertain market. PNB CMP (Rs): 105.8 Change in Open Interest in June Series: +6.1% Change in price in June Series: +3.4% PNB added over 6% open interest in the June series as long positions were built on Friday. Vipin Kumar, assistant vice president, derivatives and technical research, Globe Capital Market, said the stock had witnessed a bullish breakout with a noticeable rise in volumes on daily charts. 'Considering the current chart patterns and strong long buildup, we expect it to move northward till it is trading above Rs 100 levels and anticipate it to test Rs 112-Rs 115 levels in the immediate near term,' he said. He suggests buying the June future for a target of Rs 112-Rs 115, with a stop loss at Rs 100 (ex-dividend support at Rs 97, effective June 20) BANK OF INDIA CMP (Rs): 121.9 Change in Open Interest in June Series: +1.8% Change in price in June Series: +2.3% Kumar said strong rollovers of nearly 98% were seen on expiry day—signifi cantly higher than the past three months' average of 91%—and the stock has also registered a bullish breakout on weekly charts, setting the tone for a medium-term up move. 'Considering both technical charts as well as derivatives data, we expect a strong bullish momentum in this counter till it is holding above Rs 114 levels (ex-dividend support at Rs 110) and likely to test Rs 129-Rs 135 levels in the near term,' he said. MANAPPURAM FIN CMP (Rs): 237.6 Change in Open Interest in June Series: +59% Change in price in June Series: +2.5% 'Manappuram Finance has broken out of a tight consolidation range between Rs 220 and Rs 235, after spending nearly two months near its record high,' said Ajit Mishra, senior vice president, research, Religare Broking. Mishra said the stock's chart pattern, along with a noticeable surge in volumes and open interest, indicates a likely resumption of the uptrend. He suggested traders buy its June contracts for a target of `256, with a stop loss at `232 SBI CARDS AND PAYMENT SERVICES CMP (Rs): 919.7 Change in Open Interest in June Series: +0.8% Change in price in June Series: +0.6% 'From a technical perspective, SBI Card is sending early reversal signals, trading close to the neckline of a multi-year base pattern and staying comfortably above its key moving averages on the daily chart—both are solid markers of enduring strength,' said Dhupesh Dhameja of Samco. He said fresh long trades can be considered from Rs 910-Rs 921, for a target of Rs 1,050, with a stop loss at Rs 850. STATE BANK OF INDIA CMP (Rs): 814 Change in Open Interest in June Series: +10% Change in price in June Series: +2.1% Mishra said the market is witnessing noticeable traction in the PSU banking space, with SBI also participating in the move. The stock has seen a breakout and a strong surge in open interest. 'All indications suggest that the prevailing bullish tone is likely to strengthen further,' he said. Mishra suggests traders buy its future for a target of `864, with a stop loss at `795. BSE CMP (Rs): 2,669 Change in Open Interest in June Series: +17.7% Change in price in June Series: +8.3% The stock surged about 27% in May and hit a fresh 52-week high on Friday and led to high trading volumes following Sebi's decision to restrict weekly expiries to Tuesday and Thursday, which is expected to benefit the exchange's business. Dhupesh Dhameja, derivatives analyst, Samco Securities, said the alignment of technical resilience and strong derivative signals presents a compelling case for further upside potential in the coming sessions. He said traders may consider initiating fresh long positions around Rs 2,600- Rs 2,670, with a target of Rs 3,020. The bullish view remains intact as long as the stock holds above Rs 2,380. INOX WIND CMP (Rs): 195 Change in Open Interest in June Series: +19.2% Change in price in June Series: +1.9% 'With an impressive 95.21% rollover rate, it's evident that market participants are keen to carry forward their bullish bets, boosting optimism heading into the new series,' said Dhameja. He said the stock is trading above its 10- and 20-day moving averages, and other indicators also confirm that bullish momentum is alive and well. Dhameja said traders can create fresh long positions between Rs 187-Rs 195, for a target of Rs 225. The stop loss is at Rs 172.
Khaleej Times
3 days ago
- Entertainment
- Khaleej Times
Indian actor Unni Mukundan says he didn't assault former manager
Actor Unni Mukundan has broken his silence over the recent allegations of assault levelled against him by his former manager, Vipin Kumar. In a press conference held in Kochi, Mukundan clarified that there was no physical assault and that the dispute had been misrepresented. "As a friend, I only wanted to confront Vipin about why he was speaking negatively about me. During the heated exchange, I did throw his sunglasses -- that is true," the 'Marco' star said. "But there was no physical contact." Mukundan also said that Kumar, who managed the actor's career for six years, is already facing multiple complaints from within the film industry. "There are cases against Vipin in FEFKA. More than one actress has approached film organisations with complaints about him," he said, adding that Vipin is not a registered member of the Film Employees Federation of Kerala. The controversy erupted following a first information report filed by Kumar on May 26, accusing Mukundan of physical assault and issuing threats during a confrontation at the basement parking of Mukundan's apartment complex in Kochi. "He called me for a meeting. When I arrived, he shouted at me, punched and hit me. Another person had to step in to stop him," Kumar told reporters. Kumar claimed that the incident may have been fueled by Mukundan's disappointment over the lukewarm industry response to his recent film Marco. "After the movie's release, he was disheartened that top directors weren't reaching out. He vented that frustration on me," Kumar alleged. In response, Mukundan has filed a counter-complaint with the Kerala Director General of Police (DGP), stating that he has been targeted unfairly and maliciously. "Two weeks ago, I received a call from an unknown number. The caller named several people, including Vipin. That was when I realised something was wrong," the actor said. The actor also addressed a broader pattern of controversies surrounding his career. He also hinted that there might be a larger network behind the current controversy. Reaffirming his respect for his colleagues, Mukundan said he maintains a strong relationship with fellow actor Tovino Thomas, despite rumours. "I have never said anything about Tovino. We are very close friends," he clarified. Mukundan expressed his deep gratitude to the people of Kerala for supporting his journey in cinema and added, "I've worked hard to bring out my films. I will continue to do so with honesty." The incident comes just months after Unni Mukundan stepped down from his role as Treasurer of the Association of Malayalam Movie Artists (AMMA) in January this year, citing mental health and professional strain. His resignation occurred shortly after AMMA's executive committee, including President Mohanlal, tendered their resignations in the wake of the Justice K. Hema Committee Report, which exposed widespread challenges faced by women in the Malayalam film industry.
New Indian Express
3 days ago
- Entertainment
- New Indian Express
Unni Mukundan dismisses assault allegation, files complaint against Vipin
KOCHI: Two days after Vipin Kumar, a Changanassery resident, raised allegations that actor Unni Mukundan assaulted him for praising Tovino's film 'Narivetta', the actor, on Saturday, said that the allegations of wrongdoing against him were fabricated and that he has not assaulted anyone. Clarifying the issue, he said that he had a conversation with his former manager Vipin. 'When I came to know that he was spreading false news about me and other artists, I questioned it. I received complaints about him from other artists and industry professionals as well. The conversation was emotional. I threw his sunglasses during the discussion. But I haven't abused him. It is evident from the video clips that are being circulated,' he said.
New Indian Express
4 days ago
- Entertainment
- New Indian Express
Ernakulam Court disposes anticipatory bail plea of actor Unni Mukundan in assault case filed by former manager
The charges listed in the FIR include voluntarily causing hurt, wrongful restraint, criminal intimidation, and obscene acts. Counsel for Unni Mukundan submitted that the allegations of physical assault made by the complainant are entirely baseless, malicious, and a figment of imagination, intended solely to defame the actor and subject him to mental distress and public humiliation. The defence further claimed that the allegations form part of a conspiracy. The Infopark Police registered the case against the actor on Tuesday, based on a complaint lodged by his former manager. In the complaint, Vipin Kumar alleged that Unni Mukundan summoned him to the parking area of the DLF apartment complex in Kakkanad, where he verbally abused and physically assaulted him. Vipin further claimed that the actor has been experiencing prolonged emotional distress and has faced frequent ridicule. He alleged that despite the success of his most recent film, Marco, Unni has not received any promising film offers, and many of his close associates have since distanced themselves from him.
