Market Wrap-up:
Markets closed in red; ITC drags, Smallcap up :
The markets went down for
the fourth consecutive season and dragged below their important support levels
despite of positive global cues. Oil, selected FMCG and Auto stocks were the
main draggers while Banking & Financials gave support to the markets. Nifty
broke 7800 and closed below it and now 7680 is seen as the major support for
it. The Main factor for volatility of markets as of now is a GST bill issue in
Parliament.
HEADLINES:
- Fitch maintains the stable outlook and the sovereign ratings for India at BBB- as it finds improved business environment in the country.
- Committee on Possible Tax Rates under the GST suggested that cigarettes and other tobacco products will be taxed 40%; ITC tanked 7%.
- Sunpharma up for the second consecutive season after its subsidiary received approval from the USFDA for generic version of Gleevec.
- Real Estate stocks traded higher in otherwise markets after Godrej Properties received good response for Mumbai project; Sobha Ltd up 6%.
STOCKS IN FOCUS:
- Persistent Systems jumped after the announcement by the company that it is on the lookout for more acquisitions for the expansion of customer base.
- GMRInfra hiked on reports that the company will sell 30% of its stake in its airport business with the private placement.
- Bharat Forge on a 52 week lows due to fallen inflow of truck orders.
- Power Grid Corporation of India acquired Vemagiri II Transmission, the project special purpose vehicle (SPV) from REC Transmission Projects Company.
- Ashoka Buildcon entered into a share purchase agreement (SPA) with PNC Infratech for purchase of 8.51% of the share capital of Jaora-Nayagaon Toll Road Company (JTCL) via Viva Highways.
- EssarOil up around 1% when the company issued a public notice to delist the company from local stock exchanges by buying out the non-promoter shareholding of 28.54% at Rs. 146.05 per share.
- Suven Life Sciences traded strongly as it announced clinical trial of SUVN-502, a 5HT6 antagonist in patients with moderate Alzheimer’s Disease (AD); being executed through Suven, Inc., a Delaware Company in USA, wholly owned subsidiary of Suven Life Sciences.
- Tata Sons to acquire additional 0.22% stake in the Titan Company at an estimated price of over Rs 66 cr.
TECHNICAL FRONT
DAILY CALLS:
Jubilant EQ ended with a positive note in a otherwise market, stock
consolidated on higher side and some more buying could be seen in the next
trading session if it is able to Break nearby resistance.
Jubilant cash buy above 455 targets 459.50/464 sl 447.25
·
Tvsmotor is in a
bullish trend, but stock consolidated below the support level for last three
trading sessions. If the stock sustains below the level, then some more selling
pressure could be seen.
TVSmotor cash, sell below 280 targets 277.2/274.4
sl 284.20
DAILY CALLS UPDATE as of 4/12/15:
- CALL: DEEPIND EQ had given breakouts on its support and trend line which can seen in below daily charts, trend line breakouts indicates more selling pressure in stock from current level. Sell below 196 targets 194/192/190 SL 198.
UPDATE :
DEEPIND SELL CALL FINAL TARGET ACHIEVED.
- CALL: JKTYRE EQ tanks for the second straight day on NSE, more selling pressure could be seen as after gap down opening stock consolidate for the whole trading day further more selling pressure could be seen in stock. Sell below 104.20 targets 103.20/102.20/101.10 SL 105.30.
UPDATE : JKTYRE
EQ SELL CALL NOT EXECUTED.
For More Market Updates Visit www.trifidresearch.com
The Sensex is down 148.33 points or 0.6 percent at 25489.78, and the Nifty down 30 points or 0.4 percent at 7751.90. About 1394 shares have advanced, 1229 shares declined, and 144 shares are unchanged.
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