Stock to Watch Friday – NATCO PHARMA LIMITED

Natco Pharma Limited

Natco Pharma Limited has broken out from a downward trend line formation. The price has now breached the neckline of 540 and is also sustaining above RSI has given positive crossover suggesting price is likely to move 580 on the upside.

It is also holding above its 50-DEMA for the past three weeks trading sessions. NATCO PHARM may be bought in the range of 540-541 for the targets of 555-572, with stop loss below 519 on closing basis.

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Stock to Watch Thursday- ZENSAR TECHNOLOGIES LIMITED

Daily Stocks to Watch

On the daily chart, Zensar Technologies Limited has turned upwards after taking support at the lower end of the head and shoulder chart pattern suggesting bullishness building up in the stock. It Sustained above 248 will resume the up side move towards 265-267 levels.

The RSI has turned higher after constantly taking support at the 64-level suggesting that bulls are having an upper side move. We recommend buying in the stock in the range of 248-249 for the targets of 257-266, keeping stop loss below 235.

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Stock to Watch Monday- LINDE INDIA LIMITED

Linde India Limited has seen a major consolidation between 505 and 472 levels for the last 8 days. On the shorter-term time frame, it has formed an ascending triangle chart pattern over the two-month period and saw a breakout in April to touch a high 526.

Also, the price has taken support at its 21-days exponential moving average and holding well above it. The Relative Strength Index (RSI) have given a positive crossover. We recommend traders to take long positions in LINDEINDIAin the range of 490-492 for the targets of 505-520, keeping stop loss below 472 on closing basis.

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Stock to Watch Thursday – SYNGENE INTERNATIONAL LIMITED

SYNGENE INTERNATIONAL LIMITED

Syngene International Limited price has given a breakout from bullish “Measured Move – Bullish” chart pattern on the daily charts, which indicates a continuation of a primary uptrend. The stock has been forming higher bottom – higher highs chart since 25-march -2019.

It has moved past above moving average Indicators bullish on the short to medium term charts. We recommend traders to take long positions in stock around 615-616 for the targets of 635-655, keeping stop loss below 597 on closing basis.

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Stocks to Watch By For Thursday: InterGlobe Aviation Limited

InterGlobe Aviation Limited

InterGlobe Aviation Limited futures has bounced back from 38.20% retracement level on daily charts and crossed 61.80% level and closed above the level and expected to rise. Volumes also increased on daily charts, indicating that bulls will take charges in upcoming trading days.

Technical indicators also supporting the bullish trend RSI, MACD and KST are giving buying indication. The stock price has been sustaining above 10 day’s EMA on the daily charts. It is recommended to take long positions in INDIGO in the range 1239-1241 for the targets of 1270/1300 with a stop loss below 1179.85 in upcoming days.

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Market Commentary :

Indian markets extended gains to the third day, with Sensex rising 193 points to 36,636 while Nifty settled at 11,053, up 0.55%. Energy, metal and pharma stocks led the gains today.

BPCL, BAJFINANCE, ICICIBANK, HINDALCO, VEDL were the top gainers on the Nifty, while losers were ZEEL, TATAMOTORS, IBULHSGFIN, AXISBANK, HINDUNILVR.

News Highlights:

•Country’s biggest mortgage lender Housing Development Finance Corporation (HDFC) on Wednesday announced an interim dividend of Rs 3.50 for the financial year ending March 31. The objective of payment of the dividend is to distribute dividends received by the company from its subsidiaries during the year.

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Stock to Watch: Today: Muthoot Finance Limited

Muthoot Finance Limited

Muthoot Finance Limited futures has retracement of 61.8% and sustaining above it strong support of 520 level on daily charts and expected to rise  till the next resistance level of 100% retracement level i.e. 549. Volumes also increased on daily charts, indicating that bulls will take charges upcoming trading days.

Technical indicators also supporting the bullish trend, RSI are giving buying crossovers. The stock price has been sustaining above 50 day’s EMA on the daily charts. Traders can take long positions in MUTHOOT FIN in the range 522-523 for the targets of 549/574 with a stop loss below 499.

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Market Commentary :

The Sensex was up 403.65 points at 35756.26, while Nifty was up 131.10 points at 10735.50. About 1468 shares have advanced, 1107 shares declined, and 161 shares are unchanged.

IBULHSGFIN, TATASTEEL, VEDL, ADANIPORTS, HINDALCO were the top gainers among Nifty 50 stocks while DRREDDY, HEROMOTOCO, HINDUNILVR, ZEEL, INDUSINDBK were the top losers.

News HighLights :

•According to the first estimate of Rabi production in 2018-19, National Bulk Handling Corporation (NBHC), Rabi cereals production is expected to decline by 9.91%, while chana/gram is the most affected pulse seeing 9.92% fall in acreage.

•The Goods and Services Tax (GST) Council meeting on February 20 remained inconclusive after some state finance ministers sought a physical meeting as they felt an issue as crucial as a special scheme for real estate sector should not be discussed through a video conference. The meeting will now take place in Delhi on February 24.

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Stock to Watch Today: BEML Limited

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BEML Limited futures had strong resistance of 783 on daily charts and expected to fall till the support of 50% correction level i.e. 710 .Volumes also increased on daily charts, indicating that bears will dominate in the upcoming trading days.

Technical indicators also supporting the bearish trend KST, MACD are giving selling crossovers. The stock price has been sustaining below20 day’s EMA on the daily charts.

Traders can take short positions in BEML in the range 753-752 for the targets of 740-710 with a stop loss above 782.85.

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News Highlights:

•The RBI is working on a set of rules that would link remuneration of banks CEOs to parameters like balance sheet size of a bank, loan delinquency, profits and governance record.

•Iran’s exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have increased purchases due to waivers from US sanctions.

Market Commentary:

At the end, Sensex was down 145.83 points at 35352.61, while Nifty was down 36.60 points at 10604.40. About 1360 shares have advanced, 1169 shares declined, and 122 shares are unchanged.

VEDL, GRASIM, BPCL, ZEEL, JSWSTEEL were the top gainers among Nifty 50 stocks while WIPRO, TCS, INDUSINDBK, ADANIPORTS, NTPC were the top losers.

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Daily Stock to Watch : 15 Feb: DCM SHRIRAM

From the last two months, the stock has been consolidating in a broader range of 330-350 along with DCM SHRIRAM buying at nick line levels. On the daily time frame, the stock has formed a head and shoulder pattern and has given a sharp pullback along with positive divergence on secondary indicators.

Additionally, the stock has also given a breakout above the falling Wedge pattern along with marginally higher volumes. Thus, we recommend buying Insecticides India around 620-621 for the target of 635-650, keeping stop loss below 604.

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Market Commentary

Yes Bank, Zeel, JSW Steel and Tata Motors were the top gainers, while IOC, BPCL, Hindalco, Bharti Airtel and Gail among major losers on the Nifty.

Among sectors, energy, IT and metal stocks witnessed selling pressure, while some buying interest seen in auto, bank, infra and Pharma sectors.

News Highlights

Sterlite Power Thursday said it has submitted bids for two storage projects in the recently concluded auction of Salt River Project utility in Arizona, USA.Bids have been submitted for a cumulative capacity of 400 mega watt (MW).

Lower inflation in fuel made India’s wholesale price inflation (WPI) cool to 2.76% in January from 3.8% in December, data released by the commerce and industry ministry on Thursday showed.

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Daily Stock to Watch : PI Industries

PI Industries recently witnessed a reversal in trend favoring upward momentum after consolidating in multiple price range levels including a decline from 52-weeks high over the last 3 months. The stock has positive breakout seen on daily and weekly basis aided PI Industries to form a medium bullish chart pattern.

 The daily RSI placed at 62 signals a buying regime at a current level along with positive cues from MACD which suggests an upward shift. The stock has a support at 829 levels and resistance level at 880. We have a buy recommendation for PI Industries between 880-882 level for a target of 900-915 and a stop loss of 859.

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Market Commentary

Sun Pharma, Coal India, JSW Steel and Zee Entertainment gained the most, while Hero MotoCorp, HDFC, and Bharti Infratel lost the most.

Nifty50 continued its corrective phase for fourth session in a row but seems to be attracting some support between 10,850–10,800 levels as the pace of fall on the downside is somewhat sluggish in this zone

News Highlights

Reliance General Insurance Company Limited has filed the draft red herring prospectus (DRHP) with SEBI.

•India and Russia have drawn up an ambitious agenda to boost strategic partnership through joint efforts at various economic fora in 2019.

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Stocks to Watch For Today From CapitalHeight:7Feb19

Zee Entertainment Enterprises Limited futures declined till 290 on 25 th Jan 2019 because of news in the sector. From 23.60% retracement level, chances of developing of demand is higher. The stock is showing signs of reversal.

The RSI has given positive signal whereas MACD and KST are also giving positive crossovers with its average on the daily charts. Thus, we recommend traders to take long positions in ZEEL FUTURES around 390-391 for the targets of 399-410, with a strict stop loss below 364.45.

Stock To Watch : CapitalHeight

Market Commentary:

The Sensex was up 358.42 points at 36975.23, while Nifty was up 128.10 points at 11,062.50. About 1032 shares have advanced, 1512 shares declined, and 144 shares are unchanged.

TECHM, CIPLA, ZEEL, BAJFINANCE, TATASTEEL were the top gainers among Nifty 50 stocks while ADANIPORTS, INDUSINDBK, DRREDDY, TITAN were the top losers.

News High Lights:

•Domestic steel major JSW Steel on February 6 reported a 9.96 percent fall in consolidated net profit to Rs 1,603 crore for the October-December quarter of 2018-19.The company had clocked a consolidated net profit of Rs 1,774 crore in the year-ago period, JSW Steel said in a BSE filing.

•Urbanite, Bajaj Auto’s new electric vehicle brand, will be available in showrooms in the first half of next fiscal (H1 FY20), thus marking the Pune-based company’s electric vehicle foray.

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