Bajaj Consumer Care Limited has been trading in the range of 310 to 329 and formed a rounding bottom chart pattern on the daily charts. From the last 7-8 trading days price consolidated near to 20-day’s DMA and break out seen on Friday.

The RSI has given positive crossovers on the daily charts suggesting price is likely to see a breakout on the upside. We recommend traders to take long positions in BAJAJ CON in the range of 330-332 for targets of 342-355, stop loss below 314.

Check Daily Stock to Watch : CapitalHeight

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Stock to Watch for Monday: CapitalHeight

Stock to watch: capitalheightDredging 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 DREDGE CORP 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

 

Stocks to Watch For Monday-IPCA LABORATORIES LIMITED

Stock to Watch for MondayIPCA LABORATORIES LTD has decisively broken its one month consolidation range of 775-810 levels on the closing basis indicating an upward breakout. On the weekly chart, the stock has formed a strong base around 810-775 levels which remains a crucial support zone. The stock has crossed its 200-days SMA indicating bullishness.

The stock is trading above 20 and 50-day SMA. The Stochastic oscillators have given a positive crossover with respective averages on daily chart. IPCA LABORATORIES can be bought at levels 790-795 with a stop loss below 773 and a target of 830-860.

To Check Stock to Watch on Monday: https://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

Stock to Watch for MondayNews High Light

  • Textile and apparel player Arvind Ltd Friday said it has inked a pact with JCB India to introduce ready-to-wear industrial uniforms.
  • Indian Oil Corporation Limited (IOCL) is investing Rs 600 to Rs 700 Crore in augmenting the LPG production facility and ramping up storage facility across the Northeast India.

Market Commentary:

  • Indian benchmark indices BSE Sensex and NSE’s Nifty 50 fell nearly 2% on Friday as a selloff in global markets continued for a second day after the US Federal Reserve raised interest rates and signaled more rate hikes.
  • HINDPETRO, BPCL, COAL INDIA, NTPC, POWER GRID were the top gainers among Nifty 50 stocks while IOC, UPL, ADANIPORTS, ZEEL, MARUTI were the top losers.

To Check Stock to Watch on Monday: https://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html