Buy Ashok Leyland For Target Rs.120.00 - Reliance Sec

* The stock has seen a sharp correction from its all time high of 134 levels to form a low in the current week and closed higher with positive price action.

* The key technical indicator RSI is in oversold region and a sharp pullback cannot be ruled out from current levels.

* The stock has completed its 50% corrective phase from (81-134) levels and is likely to hold its medi

15/11/2017 2:49:05 PM | Posted in Broking Firm Views - Short Term Report read full news
Positive On KEC International Ltd For Target Rs.372.00 - Reliance Sec

STOCK IN FOCUS

* KEC International (KEC) has delivered a strong performance in 2QFY18 with its net profit rising by 42% YoY to Rs894mn led by higher margin and lower interest cost. Despite higher commodity prices, KEC’s overall EBITDA margin expanded by 139bps YoY to 10.1% in 2QFY18 owing to absence of low-margin legacy orders in Water, Railways

15/11/2017 2:38:11 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Bata India For Target Rs.32.00 - Religare sec

Derivative Ideas

BATAINDIA added around 23% in open interest as short buildup was seen in it. Current chart pattern too indicate fresh fall in price. We suggest buying BATAINDIA November Options as per levels mentioned below.

Strategy: Buy BATAINDIA NOV 780PE between 16-17, SL– 10, TGT– 32.

15/11/2017 1:23:11 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Dr. Reddy`s Laboratories Ltd For Target Rs.2,250 - Religare Sec

Dr. Reddy's Laboratories Limited

Like majority pharma counters, DRREDDY is also trading under pressure for past couple of months and likely to maintain this bias ahead as well. On charts, after its failed attempts to cross its resistance barrier of moving averages around 2450 mark, it has formed a fresh shorting pivot. Traders shouldn’t miss

15/11/2017 1:19:40 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Escorts Ltd For Target Rs.740.00 - Religare Sec

Escorts Limited (ESCORTS)

After re-testing its record high, ESCORTS has witnessed a marginal correction of late and has formed a fresh buying pivot on daily chart. Today, it surged strongly from the support area with decent rise in volume, indicating possibility of fresh up move. We advise traders to use any dip in the given range to create fresh longs

15/11/2017 1:11:59 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Titan Industries Ltd For Target Rs.725.00 - Reliance Sec

* The stock has formed a swing high at 808 levels and making lower tops on daily charts with negative price trend.

* Reversal of cross-over in RSI from top is signaling about weakness in the stock.

* We believe the stock will remain under pressure for the short-term due to huge outperformance and can correct to its gap opening levels.

* Thus, short position can be

14/11/2017 1:17:49 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Federal Bank Ltd For Target Rs.150.00 - Reliance Sec

STOCK IN FOCUS

* Federal Bank closed 2.5% higher as compared to decline of 0.94% in benchmark NIFTY.

* We believe that the Bank will continue to deliver further improvement in operational performance led by improving loan book growth and changing portfolio-mix.

* The Bank continues to witness moderation in SMA-2 balance, which clear

14/11/2017 12:52:34 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Maruti Suzuki Ltd For Target Rs.125.00 - Religare Sec

Derivative Ideas

MARUTI added around 2.7% in open interest as short buildup was seen in it. Current chart pattern too indicate fresh fall in price. We suggest buying MARUTI November Options as per levels mentioned below.

Strategy: Buy MARUTI NOV 8000PE between 50-55, SL– 20, TGT– 125.

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14/11/2017 12:47:32 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Bharat Heavy Electricals Ltd For Target Rs.84.00- Religare Sec

Bharat Heavy Electricals Limited

After a decent recovery from the support zone around 82, BHEL failed to capitalize on those gains and witnessed stiff resistance around 100. It made few attempts but in vain and slipped strongly thereafter. Traders can use any bounce in the given range to initiate fresh shorts.

 

14/11/2017 12:44:55 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy City Union Bank Ltd For Target Rs.173.00 - Religare Sec

City Union Bank Limited

CUB has been holding firmly above its long term moving averages on daily chart. Today i.e. on 13th Nov, it has completed the formation of a fresh buying pivot and likely to resume upside momentum. We suggest traders to initiate fresh longs in the given range.

 

14/11/2017 12:40:57 PM | Posted in Broking Firm Views - Short Term Report read full news

Positive On JK Cement Ltd - Reliance Sec

STOCK IN FOCUS

* J.K. Cement (JKC) surged ~1.5% on Friday’s trade on the expectation of better performance in its 2QFY18 result. JKC declared its 2Q result on Saturday and it continued to report healthy and better than estimated performance as EBITDA witnessed a stellar growth of 32% YoY to Rs2.1bn surpassing our estimate of Rs1.9bn.

*

13/11/2017 12:36:27 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy DCB Bank Ltd For Target Rs.196.00 - Religare Sec

DCB Bank Limited

After retesting its support zone of long term moving averages, DCBBANK has swiftly rebounded and has formed a fresh buying pivot. The chart looks upbeat and indicates potential of strong surge ahead. Traders should use any dip in the given range to initiate fresh longs.

 

 

13/11/2017 12:26:45 PM | Posted in Broking Firm Views - Short Term Report read full news

Deritvatives Idea For Nifty By Religare Securities Ltd

DERIVATIVES OUTLOOK

* Nifty futures volume weighted average price (VWAP) is at 10350 and BankNifty futures is at 25100.

* Call writing was seen at Nifty 10600 strike and Put writing was seen at Nifty 10100 strikes.

*  Maximum positions are at 10500 CE and 10000 PE. Nifty is expected to be in the range of 10100-10600.

11/11/2017 4:01:43 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Bata India Ltd For Target Rs.860.00 - Reliance Sec

* The stock witnessed higher level profit booking post recording new life-time-high, where it reversed after forming Morning Doji Star pattern around near-term support zone and later closed above its short-term moving average 20-day EMA.

* Due to recent reversal in the price, the Stochastic turned upward from its oversold zone and RSI has given positive cross-over from its neutral lin

10/11/2017 1:00:39 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy ABB India Ltd For Target Rs.1,607.00 - Reliance Sec

STOCK IN FOCUS

 Led by better operating margins, ABB India’s has reported a strong performance with PAT grew by 18.2% YoY to Rs0.83bn in 3QCY17. However, its top-line declined by 13.1% YoY to Rs18.8bn, as all its businesses reported lower revenues following GST rollout.

*  Looking ahead, the Management expects revenue to come

10/11/2017 12:52:57 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Can Fin Homes Ltd For Target Rs.485.00 - Religare Sec

Derivative Ideas

CANFINHOME futures has seen good short cover-ing at 455 levels. The scrip has seem to have found a support near 450-455 levels. Good support at 455 levels followed by short covering in the derivative market ,the scrip is likely to rally towards 485 in the short term.

Strategy: Buy CANFIN HOME @453-455

10/11/2017 12:46:55 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Vedanta Ltd For Target Rs.315.00 - Religare Sec

Vedanta Limited

Like other metal counters, VEDL has also witnessed profit booking for past one week or so. The chart pattern indicates further correction ahead, thus advise traders using any bounce to initiate fresh short in the given range.

 

10/11/2017 12:43:37 PM | Posted in Broking Firm Views - Short Term Report read full news

Buy Biocon Ltd For Target Rs.425.00 - Religare Sec

Biocon Limited

After re-testing its record high, BIOCON has witnessed a marginal correction of late, offering fresh opportunity to re-enter. We feel traders shouldn’t miss this chance and start accumulating fresh long as per the mentioned levels..

10/11/2017 12:31:35 PM | Posted in Broking Firm Views - Short Term Report read full news

Buy Gail India Ltd For Target Rs.18.00 - Religare Sec

Derivative Ideas

GAIL shed around 0.30% in open interest as long unwinding was seen in it. Current chart pattern too indicate fresh fall in price. We suggest buying GAIL November Options as per levels mentioned below.

Strategy: Buy GAIL NOV 450PE between 9-10, SL– 6, TGT– 18.

 

9/11/2017 1:05:27 PM | Posted in Broking Firm Views - Short Term Report read full news
Sell Cummins India Ltd For Target Rs.865.00 - Religare Sec

Cummins India Limited

CUMMINSIND has been trading with negative bias for past three months and made several failed attempts to cross the resistance zone around 950. After recent consolidation, it’s on the verge of fresh breakdown. We advise creating fresh shorts in the given range.

9/11/2017 1:02:56 PM | Posted in Broking Firm Views - Short Term Report read full news

Sell Ujjivan Financial Services Ltd For Target Rs.333-320.00- Reliance Sec

* The stock reversed after forming Evening Doji Star pattern around its prior swing high and slipped to 3-day low, signaling near-term weakness.

* Negative cross-over in Stochastic around its overbought zone and reversal in RSI from its higher level are also coinciding with our near-term view and in favor of probable decline in the stock.

* On the lower side, its 100-day SMA

8/11/2017 1:17:13 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Tech Mahindra Ltd For Target Rs.540.00 - Reliance Sec

STOCK IN FOCUS

* Tech Mahindra’s stock price rose by 2.5% in yesterday’s trade, while the BSE Sensex declined 1.1%.

* Tech Mahindra’s 2QFY18 revenue rose by a healthy 3.6% QoQ, with the Enterprise business (+6.4% QoQ) clocking robust growth.

* Strong margin expansion of 180bps QoQ was a key positive sign, aided by

8/11/2017 1:09:39 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Tata Elxsi Ltd For Target Rs.50.00 - Religare Sec

Derivative Ideas

TATAELXSI added around 9% in open interest as long buildup was seen in it with some delivery based buying in previous session. Current chart pattern too indicate fresh surge in price. We suggest buying TATAELXSI November Options as per levels mentioned below.

 

Strategy: Buy TAT

8/11/2017 12:35:02 PM | Posted in Broking Firm Views - Short Term Report read full news