SIEMENS added around 8.5% of open interest as long positions. On charts, it has created a buying pivot on daily charts and also trading on verge of upside breakout from congestion zone of last five weeks or so. It is also trading above its short term as well as long term moving averages on daily charts. We expect it to test 1260 in sho
PNB added around 1.5% of open interest as long positions along with some delivery based buying in previous session. Call buying was seen at 145 & 150 strikes and huge put writing was seen at 135 & 140 strikes. We suggest buying PNB 145 CE as per levels given below.
TATAGLOBAL has been holding strong above its multiple moving averages on daily chart. Further, it is also on the verge of breakout from the consoli-dation range. We suggest traders to initiate fresh longs in the given range.
7/03/2017 9:10:54 AM|Posted in Broking Firm Views - Short Term Reportread full news
TECHNICAL RATIONALE – SPARC, after spending nearly five months in consolidation range, has witnessed a breakout. Cur-rently, it’s hovering around the neckline (support) area of the range, offering opportunity to enter fresh. Traders may accu-mulate in the given range.
6/03/2017 5:31:19 PM|Posted in Broking Firm Views - Short Term Reportread full news
* Godrej Industries slipped to Rs477 from its life-time-high Rs525 on back of profit booking at higher levels. Later the stock has witnessed decent rebound, but it reversed before recording fresh high. Currently, it is trading around 2-week low.
* Though key technical indicators-Stochastic & RSI are trading below its average, both are stuck around their key reversal area and about
PIDILITIND has been witnessing profit taking after a breakout from its ‚Inverted Head and Shoulder pattern‛. It’s a normal profit taking and traders can utilize this fall to accumulate in the mentioned range.
6/03/2017 9:34:53 AM|Posted in Broking Firm Views - Short Term Reportread full news
* Dabur India is one of the leading FMCG companies in India, which operates in various product categories, such as hair care, oral care, health supplements, foods, OTC and Ethicals, skin care, home care and digestives. The company generates around 66% revenues from the domestic market, while overseas business contributes 30%.
HINDUNILVR has been holding strong above its long and mid-term moving averages (200/100 EMA’s), placed on daily chart. Further, it has witnessed breakout from its consolidation zone today, supported by decent volumes.
* Mangalam Cement (MCL) surged ~3% in yesterday’s trade on the expectation of better performance ahead with the possible improvement in sales volume in coming weeks mainly to be aided by Aligarh Grinding Unit.
* MCL’s initiatives in the form of multi fuel usability, new railway siding and thrust on
SBIN has created a fresh buying pivot on daily charts, and it is also trading above important short term as well as long term moving averages on same time frame. Put writing was seen at 270 strike and call buying was seen at 275 strike. We expect it to rally till 283 levels in short term. Hence, we suggest doing bull c