Sell Bajaj Auto Ltd For Target Rs.2,660.00 - Religare Sec

Bajaj Auto Limited

In Auto pack, Bajaj-auto has been underperforming for last one and half month. Currently, it’s hovering around the support area of multiple moving averages and likely to witness fresh breakdown in near future. Use any technical bounce to go short in the given range.

29/06/2017 11:48:47 AM | Posted in Broking Firm Views - Short Term Report read full news

Buy Voltas Ltd For Target Rs.475.00 - Religare Sec

Voltas Limited

VOLTAS has witnessed decent correction from its record high and reached closer to the immediate support zone. Oversold positions and existence of support are pointing towards possibility of rebound. Traders can accumulate fresh in the given range.

29/06/2017 11:45:28 AM | Posted in Broking Firm Views - Short Term Report read full news

Sell Arvind Ltd For Target Rs.330.00 - Reliance Se

* Arvind Ltd remained in pressure post recording new life-time-high of Rs426.85 and later it has violated its long-term moving average (i.e. 200-day SMA) also.

* Key technical indicators-RSI and MACD are in bearish mode.

* As per the current daily set-up, we believe that stock will remain in pressure, where it will find support around prior bottom lines.

* In case

28/06/2017 2:16:52 PM | Posted in Broking Firm Views - Short Term Report read full news
Positive Hindustan Zinc Ltd For Target Rs.301.00 - Reliance Se

* Hindustan Zinc Ltd (HZL) closed over 2% higher and outperformed the Nifty Metal Index by ~2%.

* The company recently announced its 4QFY17 results and delivered the best ever quarterly performance primarily on account of record mined metal volume and strong zinc prices

* Its EBITDA rose by 187% YoY and 35% QoQ to Rs37.5bn. Mined metal output increased 66% YoY and 13% QoQ to

28/06/2017 2:13:02 PM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Gujarat State Fertilizers and Chemicals Ltd For Target Rs.108.00 - Religare Sec

Derivative Ideas

GSFC added around 8% of open interest as short positions. On charts, it has fresh witnessed breakdown from Head & Shoulder pattern on daily charts with noticeable rise in volumes. Current chart pattern and derivatives data suggest further decline in coming sessions. Hence, we suggest shorting GSFC July futures as p

28/06/2017 2:08:59 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell IDFC Ltd For Target Rs.51.00 - Religare Sec

IDFC Limited

IDFC has breached the support zone of multiple moving averages, after breakdown from a distribution pattern. All indications are in the favour of further decline in near term. Use any bounce to create fresh shorts in the mentioned range.

28/06/2017 2:01:17 PM | Posted in Broking Firm Views - Short Term Report read full news

Buy Havells India Ltd For Target Rs.496.00 - Religare Sec

Havells India Limited

HAVELLS has rebounded today i.e. on June 27 after retesting the support area around 455 and looks upbeat to continue this recovery ahead also. Traders can use any intraday dip to go long in the given range.

28/06/2017 1:49:52 PM | Posted in Broking Firm Views - Short Term Report read full news

Sell TVS Motor Company Ltd For Target Rs.477.00 - Reliance Se

* TVS Motor reversed after forming a Double Top pattern around Rs565 (its life-time-high) and closed below its short-term moving average 20-day EMA after long time, signaling near-term weakness in the stock.

* Negative divergence in key technical indicators-RSI and MACD is also coinciding with our near-term view and in favor of probable decline in the stock.

* On the lower s

27/06/2017 12:06:25 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy NTPC Ltd For Target Rs.192.00 - Reliance Se

STOCK IN FOCUS

* Looking ahead, we expect NTPC to add commercial capacity of 2.8GW and 6.0GW in FY18 and FY19, respectively which would lead to a significant jump in regulated equity from current level of Rs440bn.

* We continue to consider NTPC as one of the best placed companies in terms of fuel security, as most of its capacity offtake will

27/06/2017 12:02:04 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell SRF Ltd For Target Rs.1,510.00 - Religare Sec

SRF Limited

After it failed to cross multiple hurdles of moving averages , it has formed a fresh shorting pivot of late and likely to witness further fall in the near future. We suggest using any technical bounce to go short in the given range

27/06/2017 11:53:15 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy ACC Ltd For Target Rs.1,690.00 - Religare Sec

ACC Limited

ACC has retraced marginal from its record high and currently hovering in a narrow range from last one month or so. Existence of multiple moving averages on the daily chart along with confirmation indicators clearly pointing towards rebound in near term.

27/06/2017 11:49:37 AM | Posted in Broking Firm Views - Short Term Report read full news

Buy Fortis Healthcare Ltd For Target Rs.215.00 - Reliance Se

* The stock is witnessing sharp pull back from its long term averages and it has closed above the short term average with positive price action.

* Rise in momentum indicator-RSI with rise in price is signaling strength in the stock.

* In case of any negative surprise, the stock will continue to find strong support around its 50-week EMA.

* Thus, long position can b

26/06/2017 10:16:09 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Infosys Ltd For Target Rs.1,040.00 - Reliance Se

STOCK IN FOCUS

* Infosys’ stock rose by 1.5% yesterday against a flattish close for the BSE Sensex.

* Infosys’ revenue rose by 0.7% QoQ in 4QFY17; a positive factor was the healthy 4.1% QoQ growth in the ECS vertical, with Comminucations & Services growing nearly 10% QoQ and accounting for nearly 10% of revenue, the highest pr

26/06/2017 10:12:35 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Voltas Ltd For Target Rs.447.00 - Reliance Se

* The stock is witnessing selling pressure after hitting a all time high at 514 levels, it has made lower tops and has closed at 2 weeks low.

* Negative cross-over in daily charts and reversal in RSI from their overbought zone is signaling that the stock is on the verge of breakdown.

* The stock has closed below its short term averages confirming the downtrend and on the hig

26/06/2017 10:09:27 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy HDFC Ltd For Target Rs.1,786.00 - Reliance Se

STOCK IN FOCUS

* HDFC closed 1.1% higher, outperforming benchmark NIFTY by 42bps.

* Over the last few years, HDFC Ltd has proven its competitive edge over its peers through decent growth in business, stable spreads, well-managed asset quality and better performance in other financial business subsidiaries. Consequently, the stock traded at a

26/06/2017 10:05:20 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Bharat Forge Ltd For Target Rs.1,250.00 - Reliance Se

* Bharat Forge is in a strong uptrend as stock is consolidating around its short-term moving average 20-day EMA after witnessing some profit booking from its 52-week high of Rs1221.

* Positive cross-over in key technical indicators-Stochastic and RSI from their oversold zone/ neutral level is also signaling strength in the stock.

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

26/06/2017 9:55:47 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Shriram Transport Finance Company Ltd For Target Rs.1,159.00 - Reliance Se

STOCK IN FOCUS

* Shriram Transport Finance (STFC) closed 1.2% higher, outperforming benchmark NIFTY by 1.1%.

* We expect STFC’s operating environment would improve post completion of remonetisation process and implementation of BSIV emission norms for vehicles and rollout of Goods & Services Tax (GST).

* Disbursements impr

26/06/2017 9:51:07 AM | Posted in Broking Firm Views - Short Term Report read full news
Sell Canara Bank Ltd For Target Rs.325.00 - Religare Sec

Strategy:-

CANBK added around 10% of open interest as fresh short positions. It has rolled around 29% into next contract so far. It has also witnessed congestion zone breakdown of last 25 days or so on daily charts. It has also registered breakdown from short term moving averages on daily charts. Hence, we recommend shorting CANBK June futures as per

24/06/2017 4:44:15 PM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas For Nifty - Religare Sec

DERIVATIVES OUTLOOK

* Nifty futures volume weighted average price (VWAP) is at 9635 and Banknifty futures is at 23300.

* Nifty futures closed with a premium of around 17 points while Banknifty futures closed with a discount of around 6 points.

* Call writing was seen at 9600 & 9700 strikes, put writing was seen at 9500 strike an

24/06/2017 4:40:10 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Karnataka Bank Ltd For Target Rs.161.00 - Reliance Se

* The stock has made a doube top in the past few weeks and seen a sharp breakdown in today trade with strong volumes.

* Reversal in RSI and cutting downwards confirms the trend will continue to test the lower end of the range

* As per the weekly set up the stock is facing lot of pressure within the sector to cross the recent high of 181 levels.

* Thus, short positi

23/06/2017 5:44:32 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy ITC Ltd For Target Rs.363.00 - Reliance Se

STOCK IN FOCUS

* ITC Closed 0.7% up in trade today at Rs311 compared to flat close in benchmark Nifty.

* We expect ITC to benefit in GST regime as tax outgo is similar to the current tax structure. It also provides more clarity and uniformity in taxes across states.

* Increase salience of DSFT cigarettes and strong pricing power wou

23/06/2017 5:38:58 PM | Posted in Broking Firm Views - Short Term Report read full news
Derivative Ideas Bajaj Auto Ltd For Target Rs.2945.00 - Religare Sec

Derivative Ideas

BAJAJ-AUTO added around 4.5% of open interest as long positions. Daily vwap is around 2839 levels. On charts, it has created a fresh buying pivot near its important price support of 2790 levels on daily charts. Its 200 daily EMA is placed at 2795 levels. Considering the overall chart structure as well as derivatives da

23/06/2017 9:51:54 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy UltraTech Cement Ltd For Target Rs.4180.00 - Religare Sec

UltraTech Cement Limited (ULTRACEMCO)

ULTRACEMCO has retraced considerably from its record high and currently trading around the support area of multiple moving averages on daily chart. Existence of support and chart formation are pointing towards strong rebound ahead.

 

23/06/2017 9:41:30 AM | Posted in Broking Firm Views - Short Term Report read full news

Sell Power Grid Corporation of India Ltd For Target Rs.193.00 - Reliance Se

* The stock has made multiple tops at 215 levels in the past few weeks and has closed at 2 weeks low.

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

* The stock has closed near to its short term averages and we believe the stock will face lot of pressure at higher levels.

* Thus, short posit

22/06/2017 1:45:53 PM | Posted in Broking Firm Views - Short Term Report read full news