Team keeping in mind above stance of federal reserve and dow jones reaction..lets us know key market levels for nifty

*Tata Steel*

1. Although the company is trading at discounted valuations, we believe metal sector likely to face several headwinds in near future. Hence it is recommended to Avoid entry Ito this stock

2. Company reported weak set of result in June quarter, Net profit declined over 12% mainly due to decline in margins

3. Metal companies' profitability are highly volatile and expose to commodity cycle risk which may severely impact their margins.

4. In the past whenever commodity prices corrected, Tata steel reported losses, besides further rate hikes will put additional pressure on the profitability ahead

5. As per analyst consensus estimates, Revenue & Net profit for the the company is expected to decline by 9% & 41% respectively in FY23

*KPIT Tech*
*Rating : Accumulate*

1. The overall IT sector had taken a beating over the past few months amid recession fears. However, the sector has seen good recovery of late.

2. KPIT is a fundamentally good company supported by strong technicals and healthy outlook led by strong focus on mobility solutions for Electric Vehicle space

3. Company delivered a strong performance in the June quarter (Q1FY23), beating street expectations. Revenue & Net Profit up 21% & 41% respectively.

4. Company won orders worth $155 mn in Q1, up 24% QoQ.

5. Strong growth guidance: Management reiterated Revenue guidance of 18-21% for FY23, with an 18-19% EBIT margin.

6. Robust Track record: Revenue & Net Profit have grown at an average annual growth rate (CAGR) of 56% & 50% in the last 3 years.

7. Excellent market performance The stock has given an average annual return of ~82% in the last 3 years.

News that Moves

Fed Chairman Jerome Powell delivers a stern commitment in Jackson Hole gathering to halting inflation.

Warns of more rate hikes in a way that could cause “some pain” to the US economy.

Wall Street sees its worst day in months as Dow Jones, Nasdaq plunge 3-4% on Friday.

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