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.

Stock To Watch : CapitalHeight

Daily Stock to Watch : 6 Feb 2019:Cochin Shipyard

Cochin Shipyard

Cochin shipyard slipped lower till 356. From this price, chances of developing of demand is higher and has been trading in a range bound zone of 359 and 365.In February, the stock retraced 23.60% of the rally from 355 to 396. After consolidating in a narrow range, the stock is showing signs of reversal on the upside.

The RSI has given positive crossover with stochastic has given positive crossover with its average on the hourly and daily chart. Thus, we recommend traders to take long positions in the stock around 363-364 for the targets of 380-392, with stop loss below 352.

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Market Commentary:

At the close of market hours, the Sensex was up 34.07 points or 0.09% at 36616.81, and the Nifty up 22.10 points or 0.20% at 10934.40.

ZEEL, TITAN, UPL, DRREDDY, HERO MOTO CO was the top gainers among Nifty 50 stocks while COALINDIA, TATASTEEL, TATAMOTORS, YESBANK were the top losers.

New Highlights:

Production of the world’s cheapest car Nano has come to a grinding halt, as Tata Motors has begun the process of bringing down the curtains on the troubled car.

Punjab National Bank (PNB) reported a surprise net profit of Rs 246.5 crore for the December quarter.

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Today Stock to Watch: Jubilant Life Sciences Limited : 5 Feb 19

Jubilant Life Sciences Limited

Jubilant Life Sciences Limited has closed on a strong note gaining around 3%. On the daily charts, the stock has decisively broken out from its past four-week’s consolidation range of 735-697 on the daily closing basis that indicates strength.

The stock is well placed above its 20 and 50-day SMA that reconfirms upward movement in upcoming days. We recommend traders to take a long positions in JUBILANT around 730-732 for the targets of 750-769, with stop loss below 710.

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Market Commentary:

The Sensex was up 113.31 points at 36582.74, while Nifty was up 18.60 points at 10912.30.

TITAN, ONGC, RELIANCE, EICHERMOT, BAJAJ-AUTO were the top gainers among Nifty 50 stocks while IBULHSGFIN, HINDALCO, YESBANK, HINDPETRO were the top losers.

News High Lights:

•The Reserve Bank of India’s Monetary Policy Committee (MPC) meet is scheduled to be held from February 5 to 7 for the sixth bi-monthly monetary policy statement for 2018-19.

•The National Company Law Appellate Tribunal on February 4 turned down Tata Steel’s request to consider its bid as the ‘most legitimate” one for Bhushan Power & Steel.

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Stocks to Watch For Monday- CROMPTON GREAVES CONSUMER ELECTRICAL’S LIMITED

Crompton Greaves ShareAfter the recent fall, Crompton Greaves made a bullish reversal formation as it registered a ‘Piercing’ pattern in the last session from around support of 224.It took strong support at the range bound level of 223-228 zone to reserve the trend into bullish where it managed to break out from its 100-days moving average level placed at 229 levels.

The momentum indicator outlined a positive divergence in price with its RSI at 56 levels, coupled with MACD managing to make a bullish crossover in past to trade above its Signal-Line. Therefore, we are recommending long positions in the range of 229-230 levels for the upside targets of 235-241 levels with a stop loss below 222.

Stock to Watch: http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

News Highlights:

  • IT firm Wipro on Friday reported 31.83 per cent year-on-year rise in profit at Rs 2,544.50 crore for the quarter ended December 31.
  • Sun Pharma, India’s largest drug maker on January 18 told stock exchanges it hasn’t received the alleged 172‐page whistle blower complaint and therefore, is not privy to the contents of the document

Market Commentary:

Crompton Greaves ShareThe Sensex was up 12.53 points at 36386.61, while Nifty was up 1.80 points at 10907.

RELIANCE, WIPRO, KOTAK BANK, HINDALCO,HCL TECH were the top gainers among Nifty 50 stocks while SUNPHARMA,BHARTIARTL, GAIL, HINDPETRO were the top losers.

Stock to Watch: http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

Stock To Watch – 14 Jan 19

Dredging Corporation of India Dredging Corporation of India slipped towards 480 Jan 2019. For the last ten Days, the stock has been trading in the range of 480 to 422 and formed a flag and pennant chart pattern on the daily charts.The price has been moving around 20-day moving average for the last couple of days and is consolidating around in the range of 435 to 470.

The RSI has given positive crossover on the daily chart suggesting price is likely to see a breakout on the upside. We recommend traders to take LONG positions in the DREDGECORP around 451-453 levels with a stop loss below 434 for the targets of 468-485.

Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

News Highlights:

  • India’s industrial production (IIP) saw a meagre growth of 0.5 percent in November as against 8.1 percent in October, data released by the statistics office showed. Factory output, measured by the Index of Industrial Production (IIP), is the closest approximation for measuring economic activity in the country’s business landscape.
  • IT major Infosys’ reported 12 percent quarter on quarter (QoQ) decline in December quarter net profit to Rs 3,609 from Rs 4,110 crore last quarter.

Market Commentary:

The SENSEX declined 97 points, 0.27 per cent, to 36,010, with as many as 21 in the red and the rest in the green. Its NIFTY counterpart settled at 10,795, down 27 points, or 0.25 per cent, with 16 stocks up and 34 down.

ITC, UPL, WIPRO, IOC, HINDALCO were the top gainers among Nifty 50 stocks while INDUSINDBK, TATA MOTORS , INFRATEL, TCS, YES BANK were the top losers.

Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

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