Technical Recommendation 22nd November 2016

SCRIP SYMBOL - ARVIND

TECHNICAL RATIONALE – ARVIND, after the recent slide, has been consolidating for a week around its major support zone of 200 EMA on the daily chart and now looks upbeat for a rebound. Traders may accumulate fresh in the given range.

22/11/2016 2:06:46 PM | Posted in Broking Firm Views - Short Term Report read full news

Buy Hero MotoCorp Ltd For Target Rs.3,070 .00 - Reliance Sec

Technical Research

* The stock reversed taking support of its 61.8% Fibonacci Retracement level of prior up move (Rs2322-3706) and later rose to three days high.

* Recovery in RSI & Stochastic from their oversold zone is signaling lack of selling interest in the stock at this juncture.

* As per the current daily set-up, we belie

22/11/2016 10:35:20 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Tech Mahindra Ltd For Target Rs.475.00 - Reliance Sec

STOCK IN FOCUS

* Tech Mahindra’s stock price rose 0.2% in yesterday’s trade, while the BSE Sensex fall 1.5%.

* Tech Mahindra’s 2QFY17 revenue rose by a robust 4% qoq (5% in CC terms) aided by the Enterprise business (5.6% qoq) and a growth recovery in the key Communications business (2.3% qoq).

* A key positive sig

22/11/2016 10:31:28 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Hexaware Technologies Ltd For Target Rs.172.00 - Religare Sec

Hexaware Technologies Limited

HEXAWARE is in long-term down trend and is under performing broader markets from past couple of months. On Monday, it formed big red candlestick on daily chart and over shadowed past couple of sessions trading range. This has further strengthened negative bias. Hence, we expect it will head south wards in coming sessions.<

22/11/2016 9:50:11 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Bharat Heavy Electricals Ltd For Target Rs.118.00 - Religare sec

Bharat Heavy Electricals Limited

BHEL was struggling in range 130-148 from past couple of weeks. Yesterday, i.e. 21st November, it slipped below the same. Considering over all markets and its chart pattern, we expect it will trade with negative bias in near-term.

 

Recommendation

Sell

22/11/2016 9:47:51 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy TVS Motor Company Ltd For Target Rs.378-387 - Reliance Sec

Technical Research

* The stock reversed taking support of its 100-days SMA and 61.8% Fibonacci Retracement level of prior up move (Rs285-419) and later rose to four days closing high.

* Positive divergence in Stochastic w.r.t. fall in price and recovery in RSI from its oversold zone is signaling lack of selling interest in the stock at this j

21/11/2016 12:22:13 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy ACC Ltd For Target Rs.1780.00 - Reliance Sec

STOCK IN FOCUS

* ACC Ltd. gained 1% in Friday’s subdued trade as sharp correction in the stock post demonetization seems to have overdone and recovery seems imminent

* With the likely traction in demand once normalcy comes in system after the effect of demonetization in next 2-3 months, favourable pricing and initiatives undertaken by A

21/11/2016 12:18:00 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Vedanta Ltd For Target Rs.185.00 - Religare Sec

Vedanta Limited

Head and Shoulder formation is visible on the intraday chart of VEDL, it is a bearish trend reversal formation. Hence, we believe it will trade with bearish bias in near-term.

 

Recommendation

Sell Vedanta Ltd December Future @ 207-210 Stoploss 218 Target 185

21/11/2016 9:49:51 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Glenmark Pharmaceuticals Ltd For Target Rs.1,000.00 - Religare sec

Glenmark Pharmaceuticals Limited

Despite weakness across the board, GLENMARK traded sideways in last two weeks. At present, it is trading near its important support zone 880-860 levels, its 100/200 EMA’s also lie in this zone. This further strengthens bullish bias as down side seems capped from current levels due to existence of major supports.

21/11/2016 9:45:48 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Sun Pharmaceutical Industries Ltd For Target Rs.735.00 - Religare Sec

Strategy:-

SUNPHARMA added around 2% of open interest as fresh long positions, daily vwap is around 686 levels. On long term charts, it is forming a Hammer candlestick pattern. We recommend doing a covered call strategy.

 

Strategy:

BUY SUNPHARMA DEC FUTS BETWEEN 686-688 & SELL DEC

19/11/2016 10:27:59 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas For Nifty - Religare Sec

DERIVATIVES OUTLOOK

* Nifty Nov futures volume weighted average price (VWAP) is at 8350 and Banknifty futures is at 19450.

* Call writing was seen at Nifty 8200 & 8300 strike, Put buying was seen at 8100 strike.

* In options, highest positions are at 8500 CE and 8000 PE.

* Nifty is expected to be in the range of 7900-8

19/11/2016 10:25:07 AM | Posted in Broking Firm Views - Short Term Report read full news
Accumulate LIC Housing Finance Ltd For Target Rs.610.00 - Religare Sec

Investment Rationale

* LIC Housing Finance (LICHF) is among the top five housing finance companies in India and provides housing loans to individuals and corporate bodies. The company is also engaged in the home equity space. It has an established network of direct selling agents and home loan agents. Loans to individual (including LAP) forms 97.2% of

19/11/2016 9:49:00 AM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas TVS Motor Company Ltd For Target Rs.380.00 - Religare Sec

TVSMOTOR added around 15% of open interest as fresh long positions. Daily vwap is around 349 levels. On charts, it has witnessed reversal from important price support of 335 levels. We recommend buying Dec futures as per levels given below.

 

Strategy:

BUY TVSMOTOR DEC FUTS BETWEEN 347-349, SL 335, TARGET 380.

 

18/11/2016 10:48:01 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy TVS Motor Company Ltd For Target Rs.378-387 - Reliance Sec

Technical Research

* The stock reversed taking support of its 100-days SMA and 61.8% Fibonacci Retracement level of prior up move (Rs285-419) and later rose to four days closing high.

* Positive divergence in Stochastic w.r.t. fall in price and recovery in RSI from its oversold zone is signaling lack of selling interest in the stock at this j

18/11/2016 10:45:07 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Syndicate Bank Ltd For Target Rs.61.00 - Religare sec

Syndicate Bank

SYNDIBANK is in down trend and is under performing broader markets from past two years. Recently, it moved higher but failed to cross its 100/200 EMA resistance barrier placed around 72/74 levels respectively. Considering all, we expect it will trade with bearish bias in near-term as well.

 

Recomm

18/11/2016 10:41:15 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Federal Bank Ltd For Target Rs.100.00 - Reliance sec

STOCK IN FOCUS

* Federal Bank Ltd closed 2% higher, outperforming benchmark NIFTY Index by 2.4%.

* The bank reported a strong growth in PAT in 2QFY17 led by higher growth in both NII and other income along with decline in provisioning and operating expenses

* The Bank’s Management aims loan growth at ~18-20% in FY17E and it wi

18/11/2016 10:40:58 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Biocon Ltd For Target Rs.955.00 - Religare sec

Biocon Limited

In comparison with its peers, BIOCON traded well in past couple of sessions. It held ground and traded sideways when broader markets fell sharply. At current juncture, it is trading near its 100 EMA support. We strongly believe, it has potential to outperform in near-term; hence, it makes sense buying in mentioned range.

 

18/11/2016 10:35:45 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell NTPC Ltd For Target Rs.144.00 - Reliance Sec

Technical Research

* The stock has witnessed decent rise post giving break-out from the falling channel, but later it reversed down from Rs158 and slipped to two and half weeks closing low.

* RSI below 50-mark is signaling lack of strength in the stock and negative cross-over in MACD is also indicating the same.

* As per the current

17/11/2016 12:24:33 PM | 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 rose marginally by 0.2% in yesterday’s trade, while the BSE Sensex 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%.

17/11/2016 12:20:18 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Wockhardt Ltd For Target Rs.655.00 - Religare Sec

Wockhardt Limited

WOCKPHARMA is in long-term down trend and is under-performing broader markets form quite long time. At current juncture, it is sustaining below important support (765) on daily chart. Keeping into account, broader market trend and its current chart pattern, we strongly believe, it will head southwards in coming sessions.

&nb

17/11/2016 10:22:41 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Marico Ltd For Target Rs.275.00 - Religare Sec

Marico Limited

MARICO has retraced 61.8% as per Fibonacci levels of recent rise 190-306. It bounced back sharply yesterday i.e. 16th November, after testing those levels. All this indicates buyer’s interest at current levels. Considering all, we believe it will trade with bullish bias till 235 is held on closing basis.

 

17/11/2016 10:19:41 AM | Posted in Broking Firm Views - Short Term Report read full news
Technical Recommendation 16th November 2016

SCRIP SYMBOL - BRITANNIA

TECHNICAL RATIONALE – In line with broader market, BRITANNIA has also witnessed the sharp slide from its record high and retested the support zone of upper band of the declining channel formation (2780-2800) on weekly chart. We firmly believe, 2800 is strong support and hence traders should use this fall for entering fres

16/11/2016 3:36:00 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell NTPC Ltd For Target Rs.144.00 - Reliance Sec

Technical Research

* The stock has witnessed decent rise post giving break-out from the falling channel, but later it reversed down from Rs158 and slipped to two and half weeks closing low.

* RSI below 50-mark is signaling lack of strength in the stock and negative cross-over in MACD is also indicating the same.

* As per the current

16/11/2016 10:24:03 AM | Posted in Broking Firm Views - Short Term Report read full news