Market Commentary FII & DII Activity FII (Cash) in Cr +675.14-51.86 DII (Cash) in Cr FII (Index Futures) in Cr FII (Index Options) in Cr FII (Stock Futures) in Cr FII (Stock Options) in Cr +2395.73 +3273.54-95.56 +259.39 Put-Call Ratio's Index Options Stock Options F&O Total 0.93 0.48 0.92 Indian benchmark indices BSE Sensex and NSE s Nifty 50 continued their winning streak for a third day on Thursday after the new RBI governor Shaktikanta Das on his first day said he would take a more consultative approach and move quickly to address some of the pressing issues. The Sensex closed 150.57 points up at 35,929.64 and the Nifty 50 ended 53.95 points higher at 10,791.55. The BSE mid- and small-cap indices rose 0.82% and 0.65%, respectively. Sixteen out of 19 sectoral indices on BSE gained, with consumer durables, realty and capital goods rising over 1%. Energy, telecom and metal declined. USDINR closed at 71.6800(+0.46%). Brent Crude is at 61.13$. In the morning, The Shanghai Composite (-0.51) Nekkei225 -(-1.71%) and the Hang Seng (-1.-54%) are showing negative cues. SGX NIFTY appeared negative (-0.51%) Indian Oil Corporation: Board approved the buyback of up to 29.7 crore shares at Rs 149 per share and declared an interim dividend of Rs 6.75 per equity share. Adani Enterprises: Subsidiary Adani Defence Systems and Technologies Limited acquired Alpha Design Technologies Private Limited for Rs 400 crore. KNR Constructions: India Rating revised the company's credit rating from A+ Stable to A+ Positive. Capital First and IDFC Bank: National Company Law Tribunal approved the composite scheme of amalgamation of the company, Capital First Home Finance Limited and Capital First Securities Limited with IDFC Bank Limited. Lupin: Company received tentative US FDA approval for Dimethyl Fumarate Delayed-release capsules, 120 mg and 240 mg, which are indicated for the treatment of patients with relapsing forms of multiple sclerosis. Dilip Buildcon: CARE revised rating for company's long-term bank facilities worth Rs 1,998.09 crore to A/Stable from A+ and removed from credit watch with developing implications. Dilip Buildcon: Subsidiary DBL Rewa Sidhi Highways Private Limited received the financial closure letter from the National Highways Authority of India and has declared the financial closure of the said SPV. Il&FS Transportation Networks: Company appoints Shaivali Parekh as Chief Financial Officer. UltraTech Cement: Binani Cement is now UltraTech Nathdwara Cement Limited. Himadri Speciality Chemical: CARE revised rating on company's long-term bank facilities to AA-/Stable from A+/Stable, and shortterm bank facilities to AA-/Stable/A1+ from A+/Stable/A1+. MIC Electronics: Committee of Creditors approved resolution plan submitted by Cosyn Limited, consortium. Premier Explosives: Company has received an order from an Israel company for design, development, fabrication and assembly of Rocket Motors. Order amount is $41,000 and is to be executed in six months. Maestros Electronics & Telecommunications Systems: Board approved the issue of 2,32,813 equity shares at Rs 27.49 per share and 5,67,479 equity warrants at Rs 27.49 per warrant to be converted into equity Sumpoorna 2017 shares, in one or more tranches within a period of not more than 18 months, to the promoter on a preferential allotment basis. 1
Nifty Outlook Outlook: Nifty is expected to trade initially in a range 10730 to 10840 initially, support 10660 Resistance 10900 NSE Overall Advance & Decline 1017 - Advances - Declines 671 - Unchanged 374 Change in Open Interest ( Dec) - Nifty +12.40shares (+5.76%) - Bank Nifty +0.90Lakhs shares (+5.77%) Nifty PE India VIX 26.30 15.2975 (-3.24%) In the previous session, Nifty had a consecutive 3nd day bullish rally and it is closed justabove the200 SMA around 10755. The candle made in daily chart is a doji type which could not be considered as a breakout but a negative confirmation in the next session may indicate profit booking. Nifty has completed 61.8% retracement of the recent fall. Now it needs to sustain previous days high 10840 to show further uptrend, while inability to sustain above 10740 would drag the index down again. However, immediate support suggests the initial range might be 10740 to 10840. Next support is at 10660 and the trend decider support should be considered at 50 SMA around 10535. Major selloff is expected only after a closing below 10475. Sustaining above 10840 would surge the index towards 10900 or 100 SMA resistance around 10960. Oscillators in daily chart turned positive but intraday chart is slightly over bought on intraday basis. Chart (Daily): 10789 High 10839 Low 10750 Resistance Levels - R1 10840 - R2 10900 - R3 10960 Support Levels - S1 - S2 - S3 10740 10660 10530 2
NIFTY - BANK Outlook Outlook: Nifty Bank is expected to trade initially in the range 26600 to 27000; Resistances 27210; Support 26350 Bank Nifty Overall Advance & Decline - Advances - Declines - Unchanged Bank Nifty Open Interest 8 4 0 +0.90Lakhs shares (+5.77%) Nifty bank continued the bull rally for the third consecutive day and crossed the resistance 26700 but the candle made in a doji type and it could not be considered as a breakout. A negative confirmation may indicate some profit booking.. Inability to cross 27000 would be negative and the index may tend to breach 100SMA and it is expected to find support around 26350. Major support for near term is 200 SMA near 26000 which is also 50 week s morning average. It should also be noted that 50 SMA is around 25660 and hence, the index seems trapped in a wide range and major sell off would happen only below 25400 which has very less probability. Daily chart oscillators are positive; traders need to watch 27000 for next session s trend. Bank Nifty Chart (Daily):26816 High Low Resistance Levels 26951 26724 - R1 - R2 - R3 26700 26900 27050 Support Levels - S1 - S2 - S3 26350 26200 26000 Stock Watch Trends Fresh Longs 1 PCJEWLER 2 GODREJIND KSCL 3 4 TORNTPHA WIPRO 5 Fresh Shorts CHOLAFIN BERGPNT CONCOR ASIANPNT VOLTAS Short Coverings Long Unwinding BOI L&TFH ACC ESCORTS INDIANB VGUARD CEAT BALKRISHNA ARVIND MRF 3
Stock Picks PNB Recommendation Buy Current Price 71 Current Price (Date) Transaction Price Range 13th Dec 2018 Target 76-79 Stop Loss 70 200DMA 82.62 Segment 52-week High (Rs.) 52-week Low (Rs.) Cash Market Cap (Rs. Cr) 21930.14 Above 72.50 197.60 58.65 PNB would show an inverse head and shoulder type breakout above 72.50 and expected to gain a momentum towards 76-79. A stop loss of 70 should be maintained. UBL Recommendation BUY Current Price 1257 Current Price (Date) Transaction Price Range Target 12th Dec 20185 Stop Loss 1245 200DMA 1182.66 Segment Cash 52-week High (Rs.) 1464.20 52-week Low (Rs.) 908.00 Market Cap (Rs. Cr) 33309.11 Above1267 1297-1313 UBL whilemoving above 50 SMA has confirmed an inverted hammer as a bullish continuation pattern and hence it can be bought at declines with stop loss 1225. Moving above 1267 would be positive for target 1297 and 1313. 4
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