* IndusInd Bank closed2.4% higher, outperforming benchmark NIFTY Index by 1.9%
* The bank has delivered a healthy performance on operating as well as assets quality front in 1QFY18. Its profit after tax grew by 26.5% YoY and 11.3% QoQ to Rs8.4bn led by robust growth in balance sheet and healthy improvement in NII and fee-based income
M&M has formed a fresh buying pivot on daily chart with noticeable rise in volume after a month long consolidation phase. The existence of moving averages along with chart formation clearly indicating possibility of strong surge in near future. We advocate fresh buying in the given range.
27/07/2017 11:55:06 AM|Posted in Broking Firm Views - Short Term Reportread full news
PETRONET added around 15.30% of open interest as fresh long positions along with some delivery based buying on previous trading session. It has rolled around 27% into next contract so far. On charts, it has rebounded from the price support of long term moving averages on daily charts. We expect it to rally till 215 in
JKYTYRE has rebounded strongly today i.e. 25th July from its support area of medium term moving averages on daily chart. Considering its chart pat-tern, we believe a strong surge is likely in near fu-ture.
MUTHOOTFIN added around 19% of open interest as fresh long positions. It has rolled around 19% into next contract so far. On charts, it has created a fresh buying pivot on daily as well as on intraday charts. It is also trading higher highs—higher lows formation on daily charts. Considering above mentioned facts,
RELINFRA has been trading under pressure for past several months. After a sharp fall, it gradually recovered from the bottom but failed to overcome the resistance zone of moving averages on multiple time frames. We suggest using this bounce to create fresh shorts.
25/07/2017 11:10:12 AM|Posted in Broking Firm Views - Short Term Reportread full news
COLPAL has retraced marginal from its record high and found support around its 50-day EMA on daily chart. Considering its prevailing uptrend, we feel it’s a healthy correction and traders can use this to accumulate fresh longs in the given range.
25/07/2017 11:04:56 AM|Posted in Broking Firm Views - Short Term Reportread full news
* ABB India reported strong earnings in 2QCY17. Its PAT grew by 34.9% YoY at Rs0.75bn in 2QCY17 while revenue rose by 6.0% YoY to Rs23.3bn in line with our estimate owing to better execution in Electrification Products (+20% YoY).
* ABB India was among the earliest players to tap solar opportunity in India via range of solar in
* JSW Energy’s recent acquisition of 1,391MW hydel capacity led to total 4,531MW generation capacity from 3,140MW that aided good revenue performance but reported PAT continue to decline due to lower realization, higher interest cost, depreciation costs and loss in hydro assets.
* SBI closed 0.6% higher, outperforming benchmark NIFTY by 0.3%
* Post mega merger, SBI stands to gain market share in fastgrowing Retail and SME segments. Further, the Bank has been able to deliver relatively better operating performance compared to its peers despite elevated stress in balance sheet.
Muthoot Finance has witnessed good short covering in last trading session. The scrip has also breached a stiff resistance of 464,we expect follow up buying and the stock to rally towards 504 in the short term.
CESC has rebounded swiftly today i.e. July 14 after spending nearly a month around the support area of 100 EMA on daily chart. This rebound was supported by noticeable rise in volume, indicating the momentum to continue.
17/07/2017 11:22:13 AM|Posted in Broking Firm Views - Short Term Reportread full news
In line with other NBFC counters, CAPF has surged strongly of late and also witnessed an upside breakout from a consolidation range. It now looks upbeat for fresh up move thus traders shouldn’t miss this opportunity and accumulate in the given range.
17/07/2017 11:18:47 AM|Posted in Broking Firm Views - Short Term Reportread full news
Banknifty futures has been adding fresh long positions. Banknifty is likely to be in a range of around 23600-24300 for next 4-5 sessions. We recommend doing a bull call spread in 20th July Banknifty 24200/24400 CE as per levels given below.
DHFL added around 3% of open interest as fresh long positions. On charts, it has breached past 10 sessions’ congestion zone on the higher side with noticeable rise in volumes. It is also trading in higher highs-higher lows formation on charts. Hence, we suggest buying DHFL July futures as per levels given below.<
* Motherson Sumi is in the strong up-trend, as stock reversed after taking support of its 23.6% Fibonacci Retracement level of prior multimonth rise (from Rs202 to 329) and later, it has managed to recover partial losses.
* Due to recent recovery in the prices, RSI reversed from the crucial level-50 and MACD has given positive cross-over, which is signaling strength in the stock.