Delhivery, RBL Bank: Trading guide for stocks where MFs raised stake in Q2

Mutual Funds increased stake in 84 Nifty 500 stocks in the quarter ended September 2024; here's a technical outlook on select 5 stocks for the likely trend ahead.

Domestic Institutional Investors, namely the mutual funds (MFs), have been aggressive buyers in the Indian stock market thus far in the fiscal year 2024-25. Data from Sebi (Securities Exchange Board of India) shows that MFs have net bought shares worth Rs 2.85 lakh crore so far in FY25; with a record net purchases worth Rs 89,740 crore in October alone.

 

As per the Sebi data, MFs were net buyers of stocks to the tune of Rs 86,381 crore in Q2FY25, the quarter ended September 2024. 

 

According to data available from ACE Equity, MFs increased stake by more than 1 per cent in 84 out of the Nifty 500 stocks. The domestic institutional investors increased stake by more than 2 per cent in a total of 33 stocks, and over 4 per cent in 11 Nifty 500 companies.

 

 

On the other hand, data shows that MFs decreased stake by over 1 per cent in 41 out of these Nifty 500 stocks. They reduced stake by more than 2 per cent in 11 shares, and over 4 per cent in just two stocks. 

 

Among their top buys in the September quarter was - PNB Housing Finance wherein MFs net purchased an additional 10.2 per cent stake. This was followed by GE Vernova T&D India (8.5 per cent), Delhivery, Sapphire Foods, Sobha and Route Mobile - up over 5 per cent in each of the last 4 stocks.

 

 

 

On the flip side, MFs pared over 4 per cent stake each in Can Fin Homes and Shipping Corporation of India (SCI). Among others losing favour were - Zee Entertainment, Bharat Forge, Vodafone Idea, Cholamandalam Financial Holdings and Central Depository Services (CDSL).

 

Do you own stocks that the MFs raised stake in the September quarter or should you be considering adding them to your portfolio now?

 

Here are the key levels to track on the following stocks that MFs mopped up in Q2:  

 

PNB Housing Finance (PNB HF)

Current Price: Rs 973

Upside Potential: 13.6%

Support: Rs 915

Resistance: Rs 1,012; Rs 1,040

 

PNB Housing Finance stock is seen sustaining above its 20-WMA (Weekly Moving Average) for the last 8 months. The 20-WMA support now stands at Rs 915. On the upside, the stock can spurt to Rs 1,105; with interim resistance likely around Rs 1,012 and Rs 1,040 levels. CLICK HERE FOR THE CHART

 

  Delhivery

Current Price: Rs 345

Downside Risk: 13%

Support: Rs 328

Resistance: Rs 383; Rs 394

 

Delhivery stock has plunged 23 per cent from its high of Rs 448 hit in September. The stock is seen trading with a negative bias on the daily scale, below all its key moving averages. Further, the longer-term averages are placed higher compared to the short-term moving averages. Thus, implying a bearish trend for the stock.

 

Chart shows, that the near-term trend is likely to remain tepid as long as the stock trades below Rs 383; above which the next key hurdle stands at Rs 394. On the downside, the stock seems on course to test support around the Rs 300-mark. Interim support for the stock is placed at Rs 328. CLICK HERE FOR THE CHART

 

Sapphire Foods

Current Price: Rs 315

Upside Potential: 12.7%

Support: Rs 310; Rs 296

Resistance: Rs 330; Rs 340

 

Sapphire Foods stock is seen testing support at its 200-DMA (Daily Moving Average) which stands at Rs 310. Below which, the next major support for the stock is visible at Rs 296 - its 20-MMA (Monthly Moving Average). The bias the counter is likely to remain cautiously optimistic as long as these support levels are held.

 

On the upside, the stock can attempt a pull-back to Rs 355 levels; with interim resistance likely around Rs 330 and Rs 340 levels, shows the daily chart. CLICK HERE FOR THE CHART

  

  Route Mobile

Current Price: Rs 1,453

Downside Risk: 12.9%

Support: Rs 1,437; Rs 1,320

Resistance: Rs 1,485; Rs 1,520

 

Route Mobile stock is seen trading below its 100-WMA (Weekly Moving Average), which stands at Rs 1,485, for the second straight week. Near support for the stock is visible at Rs 1,437. 

 

Having said that, the near-term bias is likely to remain tepid as long as the stock trades below Rs 1,564. Near resistance for the stock is seen at Rs 1,485 and Rs 1,520. On the downside, the stock seems on course to test Rs 1,265 levels; with interim support likely around Rs 1,320. CLICK HERE FOR THE CHART 

 

RBL Bank

Current Price: Rs 162

Downside Risk: 25.9%

Support: Rs 150; Rs 133

Resistance: Rs 187

 

RBL Bank stock is seen trading below its long-term 200-WMA for the fourth straight week. Select key momentum oscillators on the daily and weekly charts are in oversold zone, but still in favour of the bears. 

 

On the downside, key support for the stock stands at Rs 150. Break and sustained trade below the same can weaken the long-term structure; following which a dip towards Rs 120 cannot be ruled out, with interim support possible around Rs 133. CLICK HERE FOR THE CHART

 

For the sentiment to revive at the counter, the stock will need to break and trade consistently above Rs 187.