After a downwards consolidation on the daily frame, Praj
Industries Limited has moved above consolidation high leading to a rally in
PRAJIND during the last two sessions. It has taken support at its long-term
moving average on the daily chart and again reclaims 135 levels.
The RSI (09) has moved above its previous swing high on the
daily frame indicating towards positive momentum. Buy PRAJIND in the range of
134-135 with a stop loss of 125 for the targets of 141-149
Motors has reported a 49 percent fall in its consolidated net profit at Rs
1,108 crore. The company had reported a profit of Rs 2,175 crore in a year ago
period.The figure above includes profit attributable to shareholders of the
company and non-controlling interests.Revenue of the company declined to Rs
86,422 crore against Rs 89,928.97.The operating profit or EBITDA was at Rs
8,449.5 crore, while the margin stood at 9.8 percent.
•Buoyed by exit poll predictions, the BJP has started
preparation to celebrate Lok Sabha election results on May 23 in a big way at
the party headquarters.
ADANIPORTS,IBULHSGFIN,INDUSINDBK, SBINwere the top gainers
among Nifty 50 stocks while DRREDDY, ZEEL, BAJAJ-AUTO, TECHM, were the top
On Tuesday Indian indices will likely to open on flat note,
later volatility will be expected. Keep your eyes on Metal sector.