* Srikalahasthi pipes (SPL) closed over 2% higher outperforming the CNX Mid-cap index by over 1%
* SPL is an Andhra Pradesh based integrated manufacturer of Ductile Iron (DI) pipes. Since it is integrated, it enjoys significant competitive advantage, while several cost-optimization measures – including commissioning of Si
BANKNIFTY has been in a range of around 23050-23500 for last 4-5 sessions. The 6th July expiry too has highest maximum positions at 23500 CE and 23000 PE. Banknifty July futures has opened with lower open interest with respect to June series, implying lesser participation. Considering all above mentioned factors, we recommend doing a short s
* Dabur India Ltd (DIL) is the second largest FMCG company in India, in terms of Product portfolio. It has a strong portfolio of brands (Dabur Chyawanprash, Real, Hajmola, Vatika, Amla, Fem, Honey, Meswak, Dabur Red) with the focus largely on ayurvedic & healthcare offerings.
VEDL added around 30% of open interest as long positions along with some delivery based buying on previous trading session. It has rolled around 69% into next contract. On charts, it has also witnessed congestion zone breakout on daily charts with strong volumes. Considering the derivatives data and current chart patte
TATAMTRDVR has been underperforming in the auto pack and trading well below the support area of multiple moving averages on daily chart, indicating downtrend. After consolidating in a narrow range for a month, it has witnessed fresh breakdown on 29 June and likely to witness further decline in near term future
BANKNIFTY has rolled around 46% into next contract so far. It has left with more positions to roll comparative to last expires. Considering the fact, we suggest doing a long strangle in Banknifty as per levels given below.
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 Reportread full news
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 Reportread full news
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
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 Reportread full news
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 Reportread full news
* 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.
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
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 Reportread full news