Market Post Biggest Single Day Fall in Over 2 Weeks

Market Wrap-up:

The markets ended in negative territory for third day led by Banks, Media and FMCG Stocks as well as European Central Bank stimulus package. After gap down opening Nifty recovered in the first half, but could not sustain on higher side and fell sharply below 7800 mark.

HEADLINES:

  • Alpa Laboratories freeze at 5% upper circuit.
  • Just dial tank more than 5% of buyback programs.
  • Union Bank drops as plans to acquire Bhartiya Mahila Bank.
  • Dabur India tumbles 2%, led by political issue in Nepal.
  • Dr Reddy’s sees Mcap erosion of over Rs. 19000 crore in a month.
  • Sun Pharma surged 4% in view of USFDA approval.
  • Dena Bank gains after receiving board approval to raise funds.

STOCKS WERE IN FOCUS:

  • Welspun Enterprises stock ends on a negative note as the company plans to  sell the MP road asset to IDFC.
  • GAIL ties up with ISRO (Indian Space Research Organization) unit for pipeline monitoring.
  • Elder Pharma asked by SC i.e. Supreme Court to file a plan for paying back deposit holders.
  • 3I InfoTech locked with 20 percent upper circuit as it will discuss and approve a proposal for the realignment of its debt at its meeting of the Board of Directors.
  • Shree Cement tanks as in talks to buy Bhilai Jaypee Cement, according to reports the deal may cost near around Rs 1700 crore.
  • GMR Infrastructure shares were under pressure as fall 15 pct on the media reports that the company plans to raise Rs. 2500 crore.
  • Mastek shares cracks after the company said no further investments towards the development of Veyo.
  • Idea plunges despite of positive news flow that the company has launched Delhi’s first ever 3G super highway network on 900 MHz

                                                  TECHNICAL FRONT

WEEKLY CALLS:

  • GATI EQ had given breakouts of its important resistance in the first half of the day and consolidates for the rest trading session, more buying could be seen as stock had shown strength in negative market, Buy above 176.40 targets 180/183.50 maintain SL of 172.50.

  • NCLIND EQ id heading towards its all time high, breakouts could be seen in next consecutive days. Buy above 167.40 targets 170.80/174.20 SL 163.

 DAILY CALLS:

  • DEEPIND EQ had given breakouts of 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.

  • 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.

WEEKLY AND DAILY CALLS UPDATE:

Weekly calls update (27/11/15)

  • CALL: Buy above 458.60 targets 467.80/577.10 maintain SL of 449.

UPDATE : SKSMICRO EQ BUY CALL 1ST TARGET ACHIVED.

  • CALL: Balajitele EQ Buy above 150 targets 153/156.10 SL 146.90.

UPDATE: BALAJITELE EQ BUY CALL DIDN’T EXECUTED.

DAILY CALLS UPDATE (2/12/15):

  • CALL: Godfrey Phillips EQ Buy above 1662.80 targets 1679.40/1696.20/1712.20 SL 1646.

UPDATE: GODFREY EQ BUY CALL DIDN’T EXECUTED.

  • CALL: GPPL EQ Sell below 155 targets 153.40/151.90/150.40 maintain SL of 156.70.

UPDATE: GPPL EQ BUY CALL DIDN’T EXECUTED.

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