ARVIND added around 1% of open interest as fresh long positions. Daily vwap is around 365 levels. Put writing was seen at 360 levels and call buying (unwinding by writers) was seen at 370 levels. On charts, it has created a fresh buying pivot on daily charts. We suggest buying 370 CE as per levels given be-low.
* Nifty Jan futures volume weighted average price (VWAP) is at 8210 and Banknifty futures is at 18200.
* Call writing was seen at 8500 strike and put writing was seen at 8300 strike.
* In options, highest positions are still at 8000 PE and 8400 CE.
* Nifty is expected to be in th
* The company is a part of the century-old JK Organisation, one of India’s leading private sector conglomerates with a multi-product, multi-location and multi-business operations.
* The company’s manufacturing operations comprise 12 modern plants strategically located across the country – My
CASTROLIND added around 2.5% of open interest as long positions along with some delivery based buying in previous sessions. On charts, it has formed a buying pivot in daily as well as on intraday charts. We recommend buying castrolind as per levels given below.
BUY CASTROLIND JAN FUTS BETWEEN 393-396, SL 385, TARGET
* The stock rose to two and half month closing high post giving break-out from “Symmetrical Triangle” pattern.
* We believe the stock will surge in the near-term, as (i) substantial rise in volume on the break-out day and (ii) gradual rise in RSI & MACD post their positive cross-over is signaling strength in
TVS Motor Company Limited
TVSMOTOR is among the better placed auto stock at current juncture, trading firmly above its medium and long term averages (100/200 EMA) on daily chart. Yesterday, i.e. 12th January, it settled near the day’s top, over shadowed past couple of sessions move. All this goes to show, bullish bias will persist in the coming s
STOCK IN FOCUS
* DCB Bank closed 1.8% higher, outperforming benchmark NIFTY by 1.5%
* The bank has demonstrated strong performance in 2QFY17 led by the robust growth in balance sheet, best in class NIM’s coupled with consistent improvement on all major assets quality parameters
* We expect the bank performance to be positively
Petronet LNG Limited
PETRONET is long term uptrend and is well placed on multiple chart frames (daily, weekly, monthly). It’s 100 EMA is placed nearby around 355 levels, it will act as immediate support if stock price stars falling. Hence, we recommend buying this stock within the mentioned range.