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Published on 6/11/2018 9:12:47 AM | Source: Religare Securities Ltd

We suggest participants to keep a close eye on earnings and global markets for cues - Religare Sec

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

Nifty Outlook

Nifty traded sideways and settled marginally lower, in absence of any major trigger. It opened lower, citing weak global cues but buying interest in select index majors capped the downside. Mostly sectoral indices showed similar trend and ended negative. Meanwhile, movement on stock specific front kept the traders busy.

It’s a holiday shortened week, with no major event scheduled on local front. We suggest participants to keep a close eye on earnings and global markets for cues. Also, maintain focus on stock selection and keep a balanced approach in trading.

 

Stock In News

Natco Pharma announced its Q2FY19 numbers where in net sales increased by 35% yoy to Rs. 584 cr. The company’s net profit increased by more than two fold to Rs. 181.6 cr as against Rs. 84.4 cr in Q2FY18.

*  Cipla announced its Q2FY19 numbers wherein net sales declined 2% yoy to Rs. 4,011 cr. The EBITDA also came in lower by 12% yoy to Rs. 702 cr as operating margin contracted to 17.5% as against 19.5% in the same quarter last year. Net profit declined 11% yoy to Rs. 377 cr.

 SBI reported 40% yoy decline in net profit to Rs. 944.9 cr as against Rs. 1,582 cr in the same quarter last year. The company reported one time gain of Rs. 1,560 cr during the quarter. The asset quality improved as Net NPA ratio fell to 4.84% in Q2FY19 as against 5.29% in the previous quarter. 

 

Religare Super Ideas

Dabur India Ltd

Buy Dabur India Ltd @ 365-370 Stoploss 355 Target 400 CMP 366.85

DABUR has been witnessing correction for last two months or so, after making a record high in August, 2018. It has now reached closer to its support zone around 360 and looks oversold too. All indications are in favor of rebound in near future. We suggest traders to use this phase and gradually accumulate in the given range 

 

Havells India Ltd

Buy Havells India Ltd @ 640-645 Stoploss 620 Target 690 CMP 646.90

After the recent rally, HAVELLS has taken a pause around its support zone of short term moving averages on daily chart, offering fresh buying opportunity. We advise traders not to miss this chance and accumulate fresh longs as per the levels

 

Derivative Ideas

ACC added around 13% in open interest as Long buildup was seen in it in previous session. Current chart pattern also indicates further surge in its price. We suggest buying ACC options as per below levels.

Strategy:- Buy ACC 1460 CE between 36-37, Stop loss - 26, Target - 60 for 4-6 trading sessions.

 

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