The India Cements Limited (INDIACEM)
INDIACEM, after a recent slide, has formed a fresh buying pivot around the support area of short-term moving averages i.e. 50 day EMA on daily chart. Confirmation indicators are also in the favor of strong rebound.
29/03/2017 11:25:59 AM
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Bharat Forge Limited (BHARATFORG)
BHARATFORG has registered a fresh breakout after a month-long consolidation phase. Its chart pattern along with oscillators are pointing toward strong surge ahead.
SCRIP NAME AND SYMBOL - HeidelbergCement India Limited (HEIDELBERG)
TECHNICAL RATIONALE – HEIDELBERG, after spending nearly one month near its multiple moving averages on daily chart, has formed a fresh buying pivot and likely to witness fresh surge in the near future. Traders can buy accumulate fresh in the given
* ICICI Bank reversed after taking support of its long-term moving average 200-day SMA and also the lower band of rising channel.
* Positive cross-over in key technical indicators-Stochastic & RSI from their oversold zone is signaling that stock is on verge of turnaround and soon it will resume the uptrend.
* On the higher side, the stock will initially face hurdles arou
STOCK IN FOCUS
* Majesco’s stock price rose 3.2% in yesterday’s trade, while the BSE Sensex rose by 0.3%.
* Majesco’s 3QFY17 revenue fell 3.3% qoq in USD terms (-2.7% qoq in INR terms), owing to lack of client addition and currency headwinds, mainly GBP depreciation vs the USD.
* Client-specific is
GODREJIND added around 6.6% of open interest as fresh long positions. Daily vwap is around 502 levels. it has rolled around 20% in next contract so far. It is trading on verge of upside breakout from Pennant formation on weekly charts. it is also trading above 50/100/200 EMA in higher highs—higher lows formation
Manappuram Finance Limited(MANAPPURAM)
MANAPURAM has rebounded swiftly from its immediate support around 88 level and likely to continue this bias ahead as well. Traders can accumulate fresh in the given range.
Berger Paints (I) Limited (BERGEPAINT)
BERGERPAINT has been trading firmly above its multiple moving averages in a very narrow range on daily chart and likely to witness fresh breakout in the near future.
ITC added around 1.1% of open interest as long positions along with some delivery based buying in previous session. Call unwinding was seen at 290 & 300 strikes and put writing was seen at 280 & 275 strikes. On charts, it is holding strong above important moving averages on daily charts. it has also created a f
UPL Limited (UPL)
UPL has been trading firmly above its short-term moving average on daily chart and formed a strong base around 700 level. The chart shows it is all set for fresh surge.
Hindustan Unilever Limited (HINDUNILVR)
After a recent surge, HINDUNILVR is trading in narrow range and formed a fresh buying pivot on the daily chart. Traders can accumulate fresh long as per mentioned levels.
* Incorporated in 1924, Karnataka Bank (KTK) is one of the oldest private sector banks with around 8 million customers.
* KTK has a business turnover of Rs 93,222cr from 2,075 service outlets with 738 branches, 3 Extension Counters and 1,334 ATMs in 486 centres across India as on Dec 31, 2016. It has the strongest presenc
ITC added around 1.1% of open interest as long positions along with some delivery based buying in previous session. Call unwinding was seen at 290 & 300 strikes and put writing was seen at 280 & 275 strikes. On charts, it is holding strong above important moving averages on daily charts. it has also created a fresh buying pivot near
* Nifty Mar futures volume weighted average price (VWAP) is at 9000 and Banknifty futures is at 20900.
* Nifty and Banknifty futures rolled around 24% & 16% respectively into next contract.
* Nifty futures closed at a premium of around 12 points and Banknifty futures at around 24 points. Nifty call writin
* Glenmark Pharma reversed after taking support of its long-term moving average 200-day SMA and also its intermediate rising trend line.
* Positive cross-over in key technical indicators from their oversold zone is signaling that stock is on verge of turnaround and soon it will resume the uptrend.
* On the higher side, the stock will face hurdles around its
STOCK IN FOCUS
* In the light of demonetisation and its resultant impact on consumer demand, Bajaj Corp has reported decent numbers in 3QFY17.
*The company has a very robust pricing power in its flagship brand and has been able to take regular price increases and enhance its margin profile.
* We expect Bajaj Corp to post revenues of
BHARATFIN added around 31% of open interest as fresh long positions. Daily vwap is around 835 levels. Call buying was seen at 840 & 860 strikes. On charts, it has created a buying pivot on daily as well as on intraday charts. it is also trading above important price support zone of 805-800 on daily charts. We sugge
Cummins India Limited (CUMMINSIND)
We are reiterating our buy recommendation on CUMMINSIND with the updated levels as it was not initiated earlier.
Syndicate Bank (SYNDIBANK)
SYNDIBANK has been trading with the negative bias after its failed attempts to surpass its 200 EMA on daily chart. Its current chart pattern indicates further weakness so traders can short sell as per the mentioned levels.
* Tata Chemicals reversed after forming “Double Top Pattern” around Rs592 and slipped to five days closing low.
* We believe that stock will remain in pressure for the near-term as negative divergence in RSI and MACD w.r.t. prices is signaling about lack of fresh buying interest.
* On the lower side, the stock will find major support around the rising trend line,
STOCK IN FOCUS
* HCL Technologies’ stock price rose 1.8% in yesterday’s trade, while the BSE Sensex declined by 1.1%.
* HCLT’s 3QFY17 revenue rose 1.3% qoq in USD terms (3% qoq in CC terms), led mainly by Engineering Services (+5.9% QoQ in USD terms,, +7% in CC terms).
* A positive sign was reitera
NIFTY Futures has seen fresh short buildup in yesterdays trade. Nifty call option writing is seen in 9100 strike. we expect Nifty to be in 9100 - 8950 range.
BUY NIFTY 9050 PE @ 50 - 52, Stop loss @ 36 and target @ 82.