Indian Equities Post First Weekly Gain

image 05 June

Market Wrap-up:

Indian equities post first weekly gain in four.

Market erased early gains amid profit taking in late trades and ends with modest gains on Friday, but recorded their first weekly gain in four as gas distributors, consumer shares, autos surged on hopes that the pay hike proposed in the seventh pay commission may boost demand.

HEADLINES:

  • Energy shares were in the Limelight; GAIL gains.
  • Strides Shasun needs approval to raise up to Rs 1500 crore.
  • Cadila Healthcare gains as Co launches anti-diabetic drug.
  • Financial Tech gains as concluding divestment of a 25.64 pct stake in IEX.
  • Telecom shares gains despite Fitch’s negative outlook.

STOCKS WERE IN FOCUS:

  • Vedanta and Hindalco to exit from BSE Sensex, Adani Ports and Asian Paints will replace these stocks from December 2015.
  • Public sector lender Canara Bank to raise additional capital of Rs 24 billion through issue tier-II bonds by way of private placement.
  • Kotak Mahindra gains and ends on a flat note as the bank receives nod from IRDAI to commence insurance biz.
  • Uco Bank has filed a recovery suit in the (debt-recovery tribunal) against REI Agro on behalf of all the lenders to recover unpaid debt.
  • Cairn India gains on the back of positive news flow that the company may get 10 years of extension for Rajasthan block.
  • Kolte Patil tanks on the back of negative reports that from company top management, i.e. CEO Sujay Kalele had given its resignation.
  • Adani Power jumps more than 2 percent on Friday as Power Company gets relief in SEZ tax case.
  • Crompton Greaves rallied more than six percent in intraday as get nod from the High Court on Scheme of Demerger.
  • NDTV tanks in an otherwise market as the company gets ED (Enforcement Directorate) notice of alleged FEMA (Foreign Exchange Management regulations) violations.
  • RPP Infra Projects surged more than 2 percent; wins new order from the National Highway Authority of India. (NHAI)  worth Rs. 25.60 crore.
  • Nestle India tanks despite of its product, i.e. Maggie sells 3.3 crore packs in 10 days

                                                  TECHNICAL FRONT

WEEKLY CALLS:

  • Inoxleisur EQ is heading towards its strong resistance breakouts could be seen in coming sessions as 100 DMA is also indicating same as well as stock had given breakouts of trend line which we can see in daily charts. Buy above 229 targets 233.60/238.30 SL 224.
  • Intellect EQ has given breakouts of all its important resistance and hits all time high on NSE, more fresh buying seen in stock and it may, it new high, Buy above 284.50 targets 290.20/296 SL 278.50.

DAILY CALLS:

  • AJMERA EQ gains for the second straight day with huge trading volumes, more buying could be seen; Buy above 150.50 targets 152/153.50/155.10 SL 148.90.
  • Sasken EQ gains and hits fresh high on NSE, more fresh buying seen from current levels, Buy above 362 targets 365.60/369.30/373 SL 358.

SUPPORT AND RESISTANCE OF 4 STOCKS:

  • GAIL:

1ST SUPPORT: 331.               1ST RESISTANCE 364.

2ND SUPPORT: 319.               2ND RESISTANCE 379.

  • CROMPGREAVES:

1ST SUPPORT: 180.                1ST RESISTANCE 192.

2ND SUPPORT: 174.               2ND RESISTANCE 202.

  • VEDL:

1ST SUPPORT: 85.                1ST RESISTANCE 95.50.

2ND SUPPORT: 76.               2ND RESISTANCE 102.50.

  • HINDALCO:

1ST SUPPORT: 74.                1ST RESISTANCE 83.

2ND SUPPORT: 67.50.           2ND RESISTANCE 92.50.

About Trifid Research

Trifid Research provides intraday and future share market tips & recommendation for online share market trader. Trifid Research provides stock tips, commodity tips, forex tips and nifty tips, NSE and BSE market to change the way of life, NSE & BSE is at the heart of every business in every industry. For more information, please visit www.trifidresearch.com

Leave a Reply

Your email address will not be published. Required fields are marked *