SBI, Paytm, Nykaa, BPCL, Titan: Trading strategies post Q1 results

Paytm and Nykaa have logged smart gains gains in trade so far on Monday post Q1 results, while SBI and BPCL declined notably. Going ahead these are the key levels to be watched on these stocks.

Shares of the State Bank of India (SBI), One 97 Communications (Paytm), Bharat Petroleum Corporation (BPCL) and Fsn E-Commerce Ventures (Nykaa) were in focus on Monday after these companies announced the June quarter earnings over the weekend. 

On the earnings front, the largest state-run bank reported 6.7 per cent YoY decline in standalone net owing to higher mark-to market losses. Nykaa reported 33 per cent surge in Q1 net, while revenue grew 41 per cent. Paytm and BPCL reported wider net losses at Rs 644 crore and Rs 6,291 crore, respectively. However, Patym's revenue surged 89 per cent. 

Also read - SBI Q1 review: Analysts cut earnings estimate to factor MTM loss, weak NIM 

So far in the day, Paytm and Nykaa surged 5 per cent and 3 per cent, respectively, while shares of BPCL and SBI slipped 4 per cent and 3 per cent, respectively. Titan, which reported Q1 earnings on Friday, was up 0.5 per cent. 

Here’s an outlook of these major stocks that declared Q1 results recently:-

One 97 Communications Ltd (PAYTM)

Outlook: Entering the struggle range

Shares of One 97 Communications debuted on the bourses last November and since been on a downward spiral. The stock hit a historic low at Rs 510 in May 2022; a huge drop of 73 per cent from its debut price. Currently, the stock has rallied 60 per cent from its all-time low, but still trades 48 per cent lower from the debut price.

The stock has formed a positive crossover of 50-day moving average (DMA) and 100-DMA exhibiting a strong underlying optimism. While the trend appears positive, the stock seems to be heading into the struggling range of Rs 1,000 to Rs 875 levels, shows the daily chart. Only a breakout of this range could lead to further upside from a medium-term perspective. The closing basis support for the stock exists at Rs 750 level. CLICK HERE FOR THE CHART

State Bank of India (SBIN)

Outlook: Support seen at Rs 500 and 200-DMA

While the chart reflects a positive outlook, with a move past the crucial hurdle of Rs 540, however, the Q1 result outcome might dent the upward push. That said, the support for the stock is seen at Rs 500 level and as long the 200-DMA mark is held, the bullish bias is here to stay. The 200-DMA is set at Rs 485 level. A positive move over Rs 540 would mean the stock price is inching towards Rs 600 level. CLICK HERE FOR THE CHART

Bharat Petroleum Corporation Ltd (BPCL)

Outlook: Support is at 50-DMA

The inverse Head and Shoulder breakout is intact over the closing basis at Rs 319, which is its 50-DMA mark. Now, a move over 100-DMA located at Rs 339 level, could trigger a rally to Rs 360 level, its 200-DMA, according to the daily chart. CLICK HERE FOR THE CHART

Fsn E-Commerce Ventures Ltd (NYKAA)

Outlook: Sideways pattern

Shares of Nykaa are trading sideways, showcasing consolidation pattern, as per the daily chart. At the higher end, the stock is seen struggling to cross Rs 1,550 and on the downside, Rs 1,275 stays as the pullback mark. A breakout could be identified once the stock breaches either side of the range. As and when this happens, a move of 4 per centage points cannot be ruled out.  CLICK HERE FOR THE CHART

Titan Company Ltd (TITAN)

Likely target: Rs 2,580

Upside potential: 5.50%

The stock is sustaining over the 200-DMA mark of Rs 2,362, and seems to be inching towards Rs 2,580 level, which is the next hurdle mark. The trend on chart appears lucrative and the positive momentum remains highly overwhelming. CLICK HERE FOR THE CHART