CEATLTD is all set for fresh breakout post indecisive move that lasted for almost two weeks. Yesterday, i.e. 15th December, it traded with positive bias through out the day and settled near day’s top where as benchmark Nifty index struggled. This clearly indicates strength.
PETRONET added 3.5% of open interest as fresh long positions along with some delivery based buying in previous sessions. On charts, it is trading in higher highs—higher lows formation and also trading above important short term as well as long term moving averages on charts. We expect it to rally till 400 in short term.
* The stock is consolidating after forming a strong bottom at sub-1800 levels with positive price action in the past few days confirming an uptrend
* The key technical indicators has also reversed turning upwards and as the stock is in oversold position it can bounce sharply to its short term averages.
* The stock
Britannia Industries Limited
Post stellar performance is past, BRITANNIA seems to have lost its shape and shine. That’s why even after several attempts of recovery, it is still trading below its 100/200 EMA’s on daily chart, indicating weak trend. Considering its overall chart pattern, we strongly believe, it will head southwards in near-te
STOCK IN FOCUS
* Infosys’ stock rose by 0.9% yesterday against a 0.4% decline in the BSE Sensex.
* Infosys’ revenue growth momentum was robust at 3.4% qoq in 2QFY17; YoY volume saw the 8th successive quarter of double digit growth, suggesting healthy underlying growth momentum.
* Infosys won US$1.2bn of large deals in 2Q
HCL Technologies Limited
Despite ongoing weakness and uncertainty in broader markets ahead of UD Fed meet, IT pack is the one rejoicing. Among the Indian IT space, we have shortlisted HCLTECH, as it is on verge of breakout from Inverted head and Shoulder pattern on weekly chat. It is bullish trend reversal pattern indicating northward move in near futu
BANKNIFTY might swing around 600 points because of huge futures open interest accumulated and NIFTY might swing around 270 points in the contract of December. Vix is likely to be in 14-19.50% levels in short term.
BUY NIFTY 8100 PE AT 55 & BUY 29 DEC 19000 CE AT 100, SPREAD AT 155, SL 110, TARGET 240.
Ambuja Cements Limited
AMBUJACEM is in long-term down trend and is trading with bearish bias from past couple of months. Recently, some retracement was witnessed and it recovered from 191 till 217 levels. Post which, profit taking resumed and it seems it will march southwards in near-term.
Tech Mahindra Limited
TECHM gained strength after trading with bearish bias for almost two weeks. It seems to have formed base around its 200 EMA support, which is around 470 levels. We believe, it will trade with bullish bias till that level is held on closing basis. Hence, we recommend to buy this stock with mentioned levels.
NTPC has seen good long build up,by adding 9.1% open interest IN DEC FUTURES.Even the 160 strike put options have highest Open interest implying a base near that strike,the scrip is likley to rally till 172 in the short term.
BUY NTPC DEC 167.5 CE@2,SLOSS @0.75 AND TARGET 3.8
To Read Comp
* The stock rose to two month high post trend line break-out with relatively better volume.
* Rise in RSI & MACD post their positive cross-over is signaling strength in the stock.
* As per the current daily set-up, we believe the stock will continue its northward journey and revisit prior swing high in the sho
Britannia Industries Limited
Post stellar performance in past, it seems BRITANNIA’s up move has halted as it is trading with bearish bias from past couple of weeks. All recent attempts od recovery has also failed. Considering all, we believe it is trade with bearish bias at least in the near-term.
STOCK IN FOCUS
* With flagship brands such as Navratna, Boroplus, Fair & Handsome and Zandu, Emami is the leading player in the FMCG market with market leadership in all four categories. Some of its flagship brands have demand that is seasonal in nature
* Emami has posted 10.2% yoy growth in consolidated sales to Rs5.8bn in 2QFY17. While
Indraprastha Gas Limited
At current juncture, IGL is among the best performing stocks. Domestic benchmark, Nifty index is trading weak below its important moving averages (50/100/200 EMA’s) on daily chart, indicating weak trend. While, it is trading at its 52-week high, this clearly indicates strength. Hence, we advocate buying this stock in the
SCRIP SYMBOL - KWALITY
TECHNICAL RATIONALE – KWALITY is a leading player in Indian organized dairy market and is doing well as far as business is con-cerned. Technically too, it is well placed on daily as well as weekly charts and looks upbeat for fresh move, despite struggling broader markets. Use dips to accumulate fresh in the given range.
* The stock has closed at the upper end of the range trading positive in the last few days poised for a break out above its 20 day SMA.
* Stochastic & RSI are also coinciding with our view, as both the indicators are in bullish mode.
* We believe the stock will give a breakout on the higher side to test its me
Strides Shasun Limited
STAR was trading in narrow range 1066-1105, just above its 200 EMA support from past couple of trading sessions. Breakout from this range was witnessed on Friday with strong volume. All this indicates bullish bias to continue ahead as well.
STOCK IN FOCUS
* JSW Energy has lost more than 30% in last 12 months due to weak operational performance in line with our estimates. Considering the recent correction in stock price, we believe that the negatives relating to weak merchant realization have already been priced in.
* JSWEL stands lower in fuel security due to high exposure to me