Technical Recommendation 9th January 2017

SCRIP SYMBOL - CENTURYTEX

TECHNICAL RATIONALE – CENTURYTEX is well placed on medium as well as long-term charts (weekly/monthly) and has recently formed a buying pivot on daily chart, indicating bullish bias to persist in the near-term as well.

9/01/2017 6:00:55 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Natco Pharma Ltd For Target Rs.650.00 - Religare Sec

Natco Pharma Limited

NATCOPHARM was trading in a narrow range (575-620) from over a month, breakout from this range was witnessed on Friday, where it settled on strong note, gaining over 4%. The up move was supported by multi-fold volume, indicating fresh long positions have been build and carried forward.

 

Reco

9/01/2017 11:08:32 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Petronet LNG Ltd For Target Rs.358.00 - Reliance Sec

Technical Research

* The stock is making lower tops with sustained price correction in the past 3 days confirming the down trend in the next few days.

* The key technical indicators and RSI has also reversed turning downwards and as the stock is in poised for a breakdown from current levels.

* The stock has closed below its short te

9/01/2017 11:05:37 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Kotak Mahindra Bank Ltd For Target Rs.750.00 - Religare Sec

Kotak Mahindra Bank Limited

After steep sell-off, that lasted for over two months, KOTAKBANK is gaining strength. Yesterday, i.e. 6th January, it settled near day’s top after gaining over 2.5%, in a weak market. This itself indicates strength. Hence, we recommend buying this stock in the mentioned range.

 

9/01/2017 11:02:02 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Ramco Cements Ltd For Target Rs.650.00 - Reliance Sec

STOCK IN FOCUS

* Ramco Cements (RCL) closed flat in Friday’s weak market on the expectation of better performance ahead with the possible improvement in sales volume in 2017.

* RCL is expected to have registered a healthy volume growth in 3QFY17E to 1.98mnT (+22% yoy and -3% qoq) defying the negative impact of demonetization.

9/01/2017 10:56:20 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Yes Bank  Ltd For Target Rs.1450.00 - Religare Sec

* Last year, i.e. 2016, YESBANK yielded exceptional returns for its investors, the stock price doubled. After trading at yearly low’s i.e. 631.55 in the Jan-16, it rallied till 1449 by Sep-16.

* Later, went into consolidation phase. Passing week, break out from declining trend line was seen on daily & weekly chart, indicating bullish reversal.

* These are valid sig

7/01/2017 11:17:51 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Tata Motors Ltd For Target Rs.600.00 - Religare Sec

* TATAMOTORS is a well know Indian MNC and a flagship company of the Tata Group. After acquiring Jaguar Land Rover, it gained global recognition as well.

* Technically, it is a sound stock and is on recovery mode after retracing 50% as per Fibonacci levels of the rise 265-598 levels.

* We firmly believe; it has potential to outperform its peers as well as broader markets. He

7/01/2017 11:03:13 AM | Posted in Broking Firm Views - Short Term Report read full news
Accumulate JSW Steel Ltd For Target Rs.210.00 - Religare Sec

Investment Rationale

* Indian steel demand growth outlook is gradually improving. Government spending data, better credit deployment in the roads sector and robust port traffic growth reflect an improving demand scenario. JSW Steel is well placed to capitalize on the available opportunities.

* After a subdued FY16, JSW Steel’s performan

7/01/2017 10:45:36 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Bank NIfty For Target Rs.14.00 - Religare Sec

Strategy:-

BANKNIFTY shed around 3.9% of open interest as short covering. Put writing was seen at 18000 strike and call writing was seen at 18500 strike. We recommend doing a short strangle in Banknifty as per levels given below.

 

Strategy:

SELL BANKNIFTY 12 JAN 18700 CE @ 12-13 &

7/01/2017 10:26:54 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas For Nifty - Religare Sec

DERIVATIVES OUTLOOK

* Nifty Jan futures volume weighted average price (VWAP) is at 8160 and Banknifty futures is at 18080.

* Call writing was seen at 8300 & 8400 strikes and put writing was seen at 8100 & 8200 strikes.

* In options, highest positions are still at 8000 PE and 8400 CE.

* Nifty is expected to be in th

7/01/2017 10:24:27 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Britannia Industries Ltd For Target Rs.3080.00 - Reliance Sec

Technical Research

* The stock has seen a decent correction from the high of 3580 levels; it has made a double bottom at sub 2800 levels with positive cross over in RSI confirming a strong pull back from current levels.

* Stochastic & RSI are also coinciding with our view, as both the indicators are in bullish mode.

* However in

6/01/2017 11:06:57 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Union Bank of India Ltd For Target Rs.164.00 - Reliance Sec

STOCK IN FOCUS

* Union Bank of India closed 2.3% higher, outperforming benchmark NIFTY by 1.2%.

* The Bank’s Management is gradually infusing confidence through major changes in the operating structure, which has started yielding desired outcome.

* The Bank envisages 15% sequential decline in fresh slippages in 2HFY17E along w

6/01/2017 11:02:51 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Nifty For Target Rs.45.00 - Religare Sec

NIFTY— Huge Put writing was seen at 8200 strike and call writing was seen at 8400 strikes. We recommend doing a short strangle in Nifty as per levels given below.

 

Strategy:

SELL NIFTY 8400 CE AT 55 & SELL NIFTY 8050 PE @ 40, NET PREMIUM RECEIVED 95, SL 112, TARGET 45.

 

To Read Complete Rep

6/01/2017 9:37:07 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Yes Bank  Ltd For Target Rs.1285.00 - Religare Sec

Yes Bank Limited

YESBANK posted fresh breakout from declining trend line. This breakout holds higher validity as it is formed on weekly chart. Yesterday, i.e. 5th January, it also managed to surpass its 50/100 EMA resistance barrier. All this goes to show, stock will trade with bullish bias in the coming sessions as well.

 

6/01/2017 9:34:48 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Exide Industries Ltd For Target Rs.196.00 - Religare Sec

Exide Industries Limited

EXIDEIND posted breakout from Rectangle formation on daily chart. This basically means, stock price has crossed resistance line and is set for fresh up move. Hence, we advocate buying in mentioned range.

 

Recommendation

Buy Exide Industries  Limited 

6/01/2017 9:31:47 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas ICICI Bank Ltd For Target Rs.10.00 - Religare Sec

ICICIBANK added around 10% of open interest as fresh short positions. Daily vwap is around 254 levels. Call writing was seen at 260 & 270 strikes. On charts, it has created a fresh selling pivot on daily charts and also trading below 50/100/200 EMAs on daily charts. We recommend doing a bear spread in ICICIBANK as per levels given below.

 

Strategy:

5/01/2017 10:45:29 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Wipro Ltd For Target Rs.510-515 - Reliance Sec

Technical Research

* The stock is making higher bottoms and crossed its short and medium term averages with strong volume and the sector is also in positive momentum.

* The key technical indicators and RSI are trading at the higher band confirming the up move from current levels to test its long term averages on weekly charts.

* The

5/01/2017 10:43:46 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Syndicate Bank Ltd For Target Rs.55.00 - Religare Sec

Syndicate Bank

In line with other PSU banks, SYNDIBANK is also trading weak below its long and medium-term averages (200/100 EMA) on daily chart. Yesterday, i.e. 4th January, it settled near day’s low after six day rising streak. Hence, we are expecting further decline in near-term.

 

Recommendation

5/01/2017 10:40:06 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy HCL Technologies Ltd For Target Rs.1,000.00 - Reliance Sec

STOCK IN FOCUS

* HCL Technologies’ stock price went-up 2.9% in yesterday’s trade, while the BSE Sensex which was flat.

* HCLT 2QFY17 revenue rose 1.9% qoq (2.8% qoq in CC terms), led mainly by the IMS segment (+2.9% qoq).

* A positive sign was reiteration of management guidance on CC revenue growth of 12-14%.

*

5/01/2017 10:37:14 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Marico Ltd For Target Rs.280.00 - Religare Sec

Marico Limited

Passing week, MARICO settled on strong note, over shadowed past couple of weeks trading range. This week, it has been consolidating near its 200 EMA on daily chart. Considering all, we firmly believe it is all set for fresh up move towards 280 levels.

 

Recommendation

Bu

5/01/2017 10:33:59 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Century Textile and Industries Ltd For Target Rs.20.00 - Religare Sec

CENTURYTEX added around 6% of open interest as long positions. Daily vwap is around 831 levels. On Tuesday, it has witnessed congestion zone breakout on daily charts. We suggest doing a bull spread in centurytex as per levels given below.

 

Strategy:

BUY CENTURYTEX 840 CE BETWEEN 34-36 & SELL 860 CE BETWEEN 25-27, NET PREMI

4/01/2017 11:18:57 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Castrol India Ltd For Target Rs.409-413 - Reliance Sec

Technical Research

* The stock has seen positive price action in the past few days with crossover of its short term averages with relatively better volume.

* Rise in RSI post positive cross-over is signaling strength in the stock.

* As the stock has seen good run up we recommend re-tracing the current up-move and testing its average

4/01/2017 11:17:05 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Tata Chemicals Ltd For Target Rs.550.00 - Religare Sec

Tata Chemicals Limited

TATACHEM has spent lot of time consolidating around its important long and medium term averages (200/100 EMA) on daily chart. And, at current juncture, it is comfortably sustaining above the same, indicating buyers interest at current levels.

 

Recommendation

Buy

4/01/2017 11:13:16 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Navkar Corporation Ltd For Target Rs.224.00 - Reliance Sec

STOCK IN FOCUS

* Navkar Corporation closed ~2% higher outperforming the CNX Mid-cap index supported by 1.2x its 2-week average traded volume

* The logistics sector is expected benefit immensely due to GST and the big opportunity will arise from the companies in remapping and realigning their supply chains.

* With GST being a destina

4/01/2017 11:10:08 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Bharat Electronics Ltd For Target Rs.1550.00 - Religare Sec

Bharat Electronics Limited

BEL posted fresh breakout on 3rd January after trading in narrow range around 1350-1380 levels for a week. This up move was supported by strong volume, indicating buyers interest at current levels. All this clearly indicates, stock is set for fresh up move towards 1500 plus levels in near term.

 

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4/01/2017 11:05:19 AM | Posted in Broking Firm Views - Short Term Report read full news