Technical Recommendation 20th December 2016

SCRIP SYMBOL - GAIL

TECHNICAL RATIONALE – GAIL has been gradually inching higher since Aug, 15, making higher highs and higher lows on weekly chart. In recent fall, it has retraced to the support zone around 410 level and formed a fresh buying pivot. Traders can accumu-late fresh in the given range.

20/12/2016 11:57:30 AM | Posted in Broking Firm Views - Short Term Report read full news

Derivative Ideas Indiabulls Real Estate Ltd For Target Rs.2.00 - Religare Sec

IBREALEST shed around 1.6% of open interest as short covering along with some delivery based buying in previous sessions. On charts, it is trading on verge of resistance breakout from congestion zone of last one and a half month. We suggest buying 75 CE as per levels given below.

 

Strategy:

BUY IBREALEST 75 CE BETWEEN 0.60-0.

20/12/2016 10:54:46 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Adani Ports & Special Economic Zone Ltd For Target Rs.265-260 - Reliance Sec

Technical Research

* The stock is making lower tops after forming a double top pattern at 292 mark slipping to close at 8 day low.

* 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 term averages confirmi

20/12/2016 10:52:44 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Hindustan Unilever Ltd For Target Rs.780.00 - Religare Sec

Hindustan Unilever Ltd

FMCG counters are struggling at present and HINDUNILVR is no exception. It has failed in recent attempt of recovery and resumed its short term downtrend again.

 

Recommendation

Sell Hindustan Unilever Ltd December Future @ 815-822 Stoploss 835 Target 780 CMP

20/12/2016 10:37:35 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Tata Motors Ltd For Target Rs.566.00 - Reliance Sec

STOCK IN FOCUS

* Tata Motors (TML) M&HCV export segment is expected to contribute 25% to its total revenue from CV segment over the period.

* The company plans to improve its positioning in the domestic PV market via launch of new products.

* In JLR business, new product’s life cycle is opening up.

* New launches

20/12/2016 10:34:35 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy HCL Technologies Ltd For Target Rs.895.00 - Religare Sec

HCL Technologies Limited

HCLTECH, after consolidating in a broader range, has formed a triangle pattern, which is continuous in nature. And, it’s now on the verge of breakout from the same.

 

Recommendation

Buy HCL Technologies Limited @ 820-826  Stoploss 790 Target 895 CMP

20/12/2016 10:31:31 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell NTPC Ltd For Target Rs.155-150 - Reliance Sec

Technical Research

* The stock reversed forming “Double Top Pattern”around Rs168 and later slipped to three week closing low.

* Further fall in RSI & MACD post their negative cross-over is signaling weakness in the stock.

* As mentioned earlier, we believe that stock will remain in pressure for the short-term, where

19/12/2016 10:44:51 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) surged ~1% in Friday’s weak market on the expectation of better performance ahead with the possible improvement in sales volume from Jan’17.

* We believe that a possible uptick in utilization backed by improvement in southern consumption, sound profitability, consistent balance sheet de-leverag

19/12/2016 10:40:30 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Oriental Bank of Commerce Ltd For Target Rs.107.00 - Religare Sec

Oriental Bank of Commerce

ORIENTBANK was trading in an indecisive manner form quite long time now. Passing week, it registered breakdown form triangle formation on daily chart. This indicates bearish bias to continue ahead as well.

 

Recommendation

Sell Oriental Bank of Commerce Ltd De

19/12/2016 9:44:20 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Glenmark Pharmaceuticals Ltd For Target Rs.1020.00 - Religare Sec

Glenmark Pharmaceuticals Limited

Breakout from six-week long trading range was witnessed on the weekly chart of GLENMARK. This breakout was backed by strong volume. This clearly indicates stock’s potential to trade at higher levels. Hence, we advocate buying this stock in mentioned range.

 

Recommendation

19/12/2016 9:44:16 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy UPL Ltd For Target Rs.700.00 - Religare Sec

Strategy:- UPL added around 6% of open interest as fresh long positions along with some delivery based buying in previous sessions. Daily vwap is around 655 levels. On charts, it has created a fresh buying pivot on daily as well as on intraday charts above 100 EMA. We recommend doing a covered call strategy as per levels given below.

 

Strategy:

17/12/2016 12:26:16 PM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas For Nifty - Religare Sec

DERIVATIVES OUTLOOK

* Nifty Dec futures volume weighted average price (VWAP) is at 8125 and Banknifty futures is at 18450.

* Call writing was seen at Nifty 8200 & 8300 strikes, Put writing was seen at 8100 & 7900 strikes.

* In options, highest positions are still at 8300 CE and 8000 PE.

* Nifty is expected to be in

17/12/2016 12:24:47 PM | Posted in Broking Firm Views - Short Term Report read full news
Accumulate  Sonata Software Ltd For Target Rs.240.00 - Religare Sec

Investment Rationale

* Incorporated in 1994, Sonata Software Ltd (SSL) is a global IT services company catering to various verticals like Travel, Retail and distribution and OPD (Outsourced Product Development). The company’s recent performance has been encouraging despite the challenges faced by the large vendors in the IT verticals. Capability

17/12/2016 12:06:34 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell NTPC Ltd For Target Rs.155-150 - Reliance Sec

Technical Research

* The stock reversed forming “Double Top Pattern”around Rs168 and later slipped to three week closing low.

* Fall in RSI & MACD post their negative cross-over is signaling weakness in the stock.

* As per the current daily set-up, we believe that stock will remain in pressure for the short-term, whe

16/12/2016 10:52:32 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy HCL Technologies Ltd For Target Rs.1,000.00 - Religare Sec

STOCK IN FOCUS

* HCL Technologies’ stock price rose 1.5% in yesterday’s trade, while the BSE Sensex declined by 0.3%.

* 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%.

*

16/12/2016 10:48:21 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Titan Company Ltd For Target Rs.300.00 - Religare Sec

TITAN added 3.5% of open interest as fresh short buildup along with some call writing at 320 and 330 strikes. On charts, it is trading below long term as well as short term moving averages on daily charts. We recommend selling TITAN Dec futures as per levels given below.

 

Strategy:

SELL TITAN DEC FUTS BETWEEN 318-319.50, SL 3

16/12/2016 9:40:52 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Dr. Reddy's Laboratories Ltd For Target Rs.2900.00 - Religare Sec

Dr. Reddy's Laboratories Limited

DRREDDY was trading near the confluence zone of its 50/100/200 EMA’s from past couple of sessions. On 15th December, break down from that range was witnessed. Considering its overall chart pattern and recent developments, we strongly believe it will trade with bearish bias in near-term.

 

16/12/2016 9:39:22 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Ceat Ltd For Target Rs.1385.00 - Religare Sec

CEAT Limited

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.

 

Recommendation

16/12/2016 9:36:02 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Petronet LNG Ltd For Target Rs.15.00 - Religare Sec

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.

 

Strategy:

15/12/2016 11:03:30 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Mcdowell & Company Ltd For Target Rs.2040-2070 - Reliance Sec

Technical Research

* 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

15/12/2016 11:01:59 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Britannia Industries Ltd For Target Rs.2685.00 - Religare Sec

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

15/12/2016 10:55:06 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Infosys Ltd For Target Rs.1,140.00 - Reliance Sec

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

15/12/2016 10:51:57 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy HCL Technologies Ltd For Target Rs.900.00 - Religare Sec

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

15/12/2016 10:38:01 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Nifty For Target Rs.240.00 - Religare Sec

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.

 

Strategy:

BUY NIFTY 8100 PE AT 55 & BUY 29 DEC 19000 CE AT 100, SPREAD AT 155, SL 110, TARGET 240.

14/12/2016 10:38:07 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Ambuja Cements Ltd For Target Rs.190.00 - Religare Sec

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.

 

Recommendation

14/12/2016 10:35:40 AM | Posted in Broking Firm Views - Short Term Report read full news