Buy Majesco Ltd For Target Rs.546.00 - Reliance Sec

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

28/03/2017 11:14:09 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Godrej Industries Ltd For Target Rs.525.00 - Religare Sec

Derivative Ideas

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

28/03/2017 10:46:31 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Berger Paints Ltd For Target Rs.248.00 - Religare Sec

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.

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28/03/2017 10:35:19 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas ITC Ltd For Target Rs.293.00 - Religare Sec

Derivative Ideas

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

27/03/2017 11:24:54 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy UPL Ltd For Target Rs.760.00 - Religare Sec

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.

 

27/03/2017 11:21:53 AM | Posted in Broking Firm Views - Short Term Report read full news
Accumulate Karnataka Bank Ltd For Target.Rs.170.00 - Religare Sec

Investment Rationale

* 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

25/03/2017 11:07:18 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy ITC Ltd For Target Rs.293.00 - Religare Sec

Strategy:-

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

25/03/2017 10:50:17 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Nifty - Religare Sec

DERIVATIVES OUTLOOK

* 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

25/03/2017 10:47:10 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Glenmark Pharma Ltd For Target Rs.950-970.00 - Reliance Sec

* 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

24/03/2017 11:50:11 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Bajaj Corp Ltd For Target Rs.481.00 - Reliance Sec

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

24/03/2017 11:44:14 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Bharat Financial Inclusion Ltd For Target Rs.28.00 - Religare Sec

Derivative Ideas

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

24/03/2017 11:38:23 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Syndicate Bank Ltd For Target Rs.63.00 - Religare Sec

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.

24/03/2017 9:41:58 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Tata Chemicals Ltd For Target Rs.540.00 - Reliance Sec

* 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,

23/03/2017 11:47:51 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy HCL Technologies Ltd For Target Rs.963.00 - Reliance Sec

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

23/03/2017 11:42:15 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Nifty For Target Rs.82.00 - Religare Sec

Derivative Ideas

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.

 

Strategy:

BUY NIFTY 9050 PE @ 50 - 52, Stop loss @ 36 and target @ 82.

 

23/03/2017 11:36:33 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Cummins India Ltd For Target Rs.960.00 - Religare Sec

Cummins India Limited (CUMMINSIND)

CUMMINSIND is holding strongly above its multiple moving averages on daily chart and formed a fresh buying pivot. Traders can use any dip to add fresh longs in the given range.

 

23/03/2017 11:31:05 AM | Posted in Broking Firm Views - Short Term Report read full news

Buy Srikalahasthi pipes Ltd For Target Rs.390.00 - Reliance Sec

STOCK IN FOCUS

* Srikalahasthi pipes (SPL) closed ~3% higher outperforming the CNX Mid-cap index by 3% supported by 1.1x its 2-week average traded volume

* Lack of adequate sanitation has been prompting the government to focus on improving water supply and sewerage infrastructure through multiple schemes like JNNURM & Swa

22/03/2017 11:30:12 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy The Federal Bank Ltd For Target Rs.96.00 - Religare Sec

The Federal Bank Limited (FEDERALBNK)

FEDERALBNK is holding strongly around its record high while sustaining above the short-term moving average on daily chart. Further, its chart pattern indicates possibility of fresh surge ahead. We suggest accumulating fresh in the mentioned range.

22/03/2017 9:28:56 AM | Posted in Broking Firm Views - Short Term Report read full news