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Published on 15/04/2019 9:20:05 AM | Source: Religare Securities Ltd

We suggest keeping a close eye on earnings season - Religare Securities

Posted in Market Outlook| #Market Outlook #Religare Securities Ltd

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Nifty Outlook

Markets remained range bound for yet another session and settled marginally higher. After opening on the flat note, it gradually drifted lower however rebound in the select index majors in latter half completely reversed the intraday loss and helped the benchmark to close in green.

Participants will react to the Infosys and TCS results in early trade on Monday. We feel Nifty may spend some more time in a consolidation range (i.e. 11,500-11,800) while movement on the stock specific front would keep the participants busy. We suggest keeping a close eye on earnings season and global developments for cues. 

 

Stock In News

Cipla announced the launch of Niveoli inhaler in India, targeting drug delivery to the small airways. The inhaler is use in respiratory inhalation therapy for adults suffering from obstructive airway disease such as Asthma and Chronic Obstructive Pulmonary Disease (COPD).

* Spice Jet announced that it has applied to DCGA for a No Objection Certificate to import 16 Boeing 737-800 NG aircraft on dry lease. The aircraft will begin to join the company’s fleet in next ten days subject to regulatory approval.

* RITES’s FY19 order book grew by 27.5% YoY to Rs 6,142cr which will be able to generate operational revenue over 1-3 years. In FY19 alone, the company secured 300 projects/contracts including extension in scope of projects.

 

Religare Super Ideas

Escorts Limited (ESCORTS)

Buy Escorts Ltd @ 780-785 Stop Loss 760 Target 830 CMP 787.40

ESCORTS has retraced marginally of late after the sharp surge and currently hovering in a narrow range. Technically, it has formed a fresh buying pivot and likely to witness sharp up move in near future. We advise accumulating in the mentioned zone. 

Housing Development Finance Corporation Limited (HDFC )

BUY Housing Development Finance Corporation Ltd @ 2015-2025 Stop Loss 1990 Target 2085 CMP 2024.95

After making a record high in 4th April,2019 HDFC has witnessed marginal profit taking and offering fresh buying opportunity to those who missed the chance earlier. Its chart pattern and confirmation indicators are also in sync. We suggest initiating fresh long positions as per the given levels.

 

Derivative Ideas

CEATLTD

added around 8% in open interest as long buildup was seen in it in previous session. Current chart pattern also indicates further up move in its price. We suggest buying CEATLTD 1120 CE as per below levels .

Strategy:- Buy CEATLTD 1120 CE Between 17-19, Stoploss at 8, Target 42.

 

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