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Published on 16/04/2019 9:07:03 AM | Source: Religare Securities Ltd

We advise focusing on the earning announcements - Religare Securities

Posted in Market Outlook| #Market Outlook #Religare Securities Ltd

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Nifty Outlook

Markets ended with modest gains, taking note of positive local cues and supportive global markets. Participants reacted positively to encouraging foreign inflows in April month so far and decent set of numbers from the IT majors. Mixed trend was witnessed on sectoral front wherein metal, auto and IT showed noticeable buying interest while media, pharma and PSU banking pack traded under pressure.

We feel markets are not in a hurry and Nifty would spend some more time here before any major directional move. We advise focusing on the earning announcements and global markets for cues. Also, preferring hedged positions instead of outrights.

 

Stock In News

* TV18 Broadcast reported its Q4FY19 consolidated revenue at Rs 1,182cr, down by 23% YoY (on a comparable basis). EBITDA de-grew by 23% YoY to Rs 52cr while margins came in flat at 4.4%. Net profit for the quarter stood at Rs 30cr. The company’s performance in Q4FY19 was impacted because of new tariff order and higher revenue in the base year.

* SpiceJet announced the start of non-stop direct flights from Mumbai to Hong Kong, Jeddah, Dubai, Colombo, Dhaka, Riyadh, Bangkok and Kathmandu from May,2019 end. The airline will be the only Indian budget carrier to launch direct flights to Colombo, Dhaka, Riyadh, Hong Kong and Kathmandu from Mumbai.

* Alembic Pharmaceuticals received USFDA approval for Bimatoprost Ophthalmic Solution. The medicine is indicated to treat high pressure inside the eye which damages the optic nerve and might also lead to loss of vision or blindness. According to IQVIA, the solution had market size of ~USD 10mn for 12 months ending December, 2018.

 

Religare Super Ideas

Tata Consultancy Services Limited (TCS)

Buy Tata Consultancy Services Ltd @ 2090-2100 Stop Loss 2040 Target 2210 CMP 2113.30

TCS is one of the strongest counter in IT space and continuously maintaining its positive bias. It has witnessed a fresh breakout today i.e. April 15 from its consolidation pattern, supported with exceptional rise in volume. All indications are in favour of fresh surge. We advise initiating fresh longs in the mentioned zone. 

Zee Entertainment Enterprises Limited (ZEEL)

SELL FUTS Zee Entertainment Enterprises Ltd @ 2015-2025 Stop Loss 434 Target 395 CMP 416.65

We’ve been witnessing mixed trend in the media space and ZEEL has been trading with negative bias for last ten months now. Though it had sharp rebound in between but couldn’t surpass the hurdle of long term averages and resumed the decline. It’s currently hovering in a range, offering fresh shorting opportunity. We suggest using any technical bounce to go short in the given range. 

 

Derivative Ideas

NATIONALUM

added around 8% in open interest as long buildup was seen in it in previous session. Current chart pattern also indicates further up move in its price. We suggest buying NATIONALUM as per below levels .

Strategy:- Buy NATIONALUM between 55-56, Stoploss at 52, Target 63.

 

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