* ABB India reported strong earnings in 2QCY17. Its PAT grew by 34.9% YoY at Rs0.75bn in 2QCY17 while revenue rose by 6.0% YoY to Rs23.3bn in line with our estimate owing to better execution in Electrification Products (+20% YoY).
* ABB India was among the earliest players to tap solar opportunity in India via range of solar in
* JSW Energy’s recent acquisition of 1,391MW hydel capacity led to total 4,531MW generation capacity from 3,140MW that aided good revenue performance but reported PAT continue to decline due to lower realization, higher interest cost, depreciation costs and loss in hydro assets.
* SBI closed 0.6% higher, outperforming benchmark NIFTY by 0.3%
* Post mega merger, SBI stands to gain market share in fastgrowing Retail and SME segments. Further, the Bank has been able to deliver relatively better operating performance compared to its peers despite elevated stress in balance sheet.
Muthoot Finance has witnessed good short covering in last trading session. The scrip has also breached a stiff resistance of 464,we expect follow up buying and the stock to rally towards 504 in the short term.
CESC has rebounded swiftly today i.e. July 14 after spending nearly a month around the support area of 100 EMA on daily chart. This rebound was supported by noticeable rise in volume, indicating the momentum to continue.
17/07/2017 11:22:13 AM|Posted in Broking Firm Views - Short Term Reportread full news
In line with other NBFC counters, CAPF has surged strongly of late and also witnessed an upside breakout from a consolidation range. It now looks upbeat for fresh up move thus traders shouldn’t miss this opportunity and accumulate in the given range.
17/07/2017 11:18:47 AM|Posted in Broking Firm Views - Short Term Reportread full news
Banknifty futures has been adding fresh long positions. Banknifty is likely to be in a range of around 23600-24300 for next 4-5 sessions. We recommend doing a bull call spread in 20th July Banknifty 24200/24400 CE as per levels given below.
DHFL added around 3% of open interest as fresh long positions. On charts, it has breached past 10 sessions’ congestion zone on the higher side with noticeable rise in volumes. It is also trading in higher highs-higher lows formation on charts. Hence, we suggest buying DHFL July futures as per levels given below.<
* Motherson Sumi is in the strong up-trend, as stock reversed after taking support of its 23.6% Fibonacci Retracement level of prior multimonth rise (from Rs202 to 329) and later, it has managed to recover partial losses.
* Due to recent recovery in the prices, RSI reversed from the crucial level-50 and MACD has given positive cross-over, which is signaling strength in the stock.
* HDFC closed 1% higher, outperforming benchmark NIFTY Index by 0.3%
* Over the last few years, HDFC Ltd has proven its competitive edge over its peers through decent growth in business, stable spreads, well-managed asset quality and better performance in other financial business subsidiaries. Consequently, the stock traded at
* Indiabulls Housing Finance is in the strong up-trend, as stock reversed after taking support of its 23.6% Fibonacci Retracement level of prior multi-month leap (from Rs605 to 1187) and managed to recover partial losses.
* Due to recent recovery in the prices, key technical indicator-RSI also reversed from sub-60 mark and about to give positive cross-over, which is signaling strength
VGUARD added around 2% of open interest as fresh long positions along with some delivery based buying in previous session. On charts, it is hold strong above its medium term moving averages. Keeping in mind the recent developments on chart and derivatives front, we recommend buying VGUARD July futures as per levels giv
IBULHSGFIN witnessed a marginal profit taking from its 52 week high and retraced closer to the support zone of short term moving averages on daily chart. After hovering around that zone for few weeks, it looks all set to resume the uptrend again. We advise to accumulate in the given range.
13/07/2017 9:45:51 AM|Posted in Broking Firm Views - Short Term Reportread full news
HAVELLS has been consolidating in a broader range for last two months while holding strongly above the support zone of multiple moving averages on daily chart. The chart pattern along with confirmation indicators are clearly pointing towards a strong surge ahead.
13/07/2017 9:38:46 AM|Posted in Broking Firm Views - Short Term Reportread full news
* Tata Chemicals witnessed sharp rebound from Rs585, but later the stock reversed after facing resistance of its life-time-high (Rs666.5) and slipped to 5-day closing low.
* Due to recent decline in the prices, key technical indicators-Stochastic and RSI reversed from their overbought zone and bear market resistance area (60-67) respectively, signaling near-term weakness in the stock.
* IndusInd Bank closed flat, outperforming benchmark Bank NIFTY by 0.4%.
* The bank has delivered a healthy performance on operating as well as assets quality front in 1QFY18. Its profit after tax grew by 26.5% YoY and 11.3% QoQ to Rs8.4bn led by robust growth in balance sheet and healthy improvement in NII and fee-based income
MGL added around 18% of open interest as long positions. Daily vwap is around 993 levels. It is also trading on verge of congestion zone breakout on daily charts. We recommend buying MGL July futures as per levels given below.
The PSU banking pack is still underperforming and in fact some of the counters are trading well below their long term averages, indicates negative bias. Amongst all, BANKBARODA has formed a fresh shorting pivot after its failed attempt to cross resistance zone around 170. Traders can initiate fresh shorts in the given range.
After retracing marginal from its record high, PCJEWELLER has formed a strong base near the support zone of short-term moving average on daily chart. The chart formation and positioning of oscillators are pointing towards fresh surge in near future.
12/07/2017 9:45:14 AM|Posted in Broking Firm Views - Short Term Reportread full news