SCRIP SYMBOL - CAPF
TECHNICAL RATIONALE – CAPF, after a strong surge, was trading sideways and witnessed breakout from the same on Monday i.e. October 3,2016. We expect fresh momentum in days to come and hence, suggest traders to accumulate in the given range.
3/10/2016 6:00:21 PM
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* Though Indraprath Gas Ltd reversed facing resistance of prior swing high, support around its 20-days EMA once again saved stock from falling further lower.
* Key technical indicators-RSI & MACD are trading above their neutral line and about to give positive cross-over, which is signaling that stock will continue surgi
Mcleod Russel India Limited
MCLEODRUSS registered break down from Head and Shoulder pattern on daily chart (shown above). This is a bearish trend reversal pattern indicating down side move in near-term. Hence, bounce from current levels should be considered an opportunity to create fresh short positions.
STOCK IN FOCUS
* KEC International closed 4% higher in trade on Friday.
* We are positive on the stock due to its Diversified business model with global reach, Margin improvements ahead, legacy orders nearing completion & Order inflow traction to remains intact.
* The company has seen improved traction in T&D business, both
Hindustan Petroleum Corporation Limited
HINDPETRO has spent over a month consolidating near recent top i.e. 442.2 levels. At current juncture, it is firmly trading above the upper band of Pennant formation on daily chart (shown above). Consolidation post breakout is positive development indicating more up side move in near future.
CUMMINSIND added 2.4% of open interest as fresh long positions along with strong delivery based buying. Daily vwap is around 905 levels. On charts, it is trading above important short term as well as long term moving averages and also trading above important price support on daily charts. we expect it to rally till 945 levels in short term.
* Nifty Oct futures volume weighted average price (VWAP) is at 8730 and Banknifty futures is at 19600.
* Nifty and Banknifty futures rolled around 66% and 65% respectively into Oct series.
* Put writing was seen at Nifty 8500 & 8400 strikes & Call writing was seen at Nifty 9000 & 8900 strikes.
* Motherson Sumi (MSSL) is a pure play auto ancillary catering to Indian as well as global OEMs. Starting with wiring harness systems, MSSL has acquired and mastered businesses in several new domains globally. While standalone business will be a steady contributor to consolidated earnings, contribution from subsidiaries to increase
INFRATEL added 20.20% of open interest long positions. Daily vwap is around 371 levels. It has also crossed above 200 EMA on daily charts with noticeable rise in volumes on Thursday i.e. on Sept 29, 2016. We expect it to rally till 395 levels in short term.
BUY INFRATEL OCT FUTS BETWEEN 369-371, SL 361, TARGET 395.
* Bharti Infratel reversed finding support around its 20-days & 50-days EMA after witnessing sharp decline from Rs388 and later rose to five day closing high with relatively better volume.
* Positive cross-over in RSI & steady rise in MACD is signaling that stock will continue its northward journey for next couple o