1.HINDALO
India’s
biggest aluminum producer Hindalco is looking to raise funds through a
qualified institutional placement (QIP) that opens. Floor price for the
QIP is set at Rs 184.45 per share. The company, in a release to the
exchanges, said that a capital raising committee will meet on March 7 to
consider the issue price of QIP. After releasing this news it share
prices gives movement of 4.3% and 8.20 net change. Technically in daily
time frame it trades near 52 week high, in Futures if it breaks the
level of 201.10 then it can breach. There is immediate support below the
level of 185 and 176, the resistance of 215 and the next immediate
resistance of 225. Investors can take buy position when the breakout of
resistance level 201.10 will do. And put the profit part when prices
would comes at level of 214 with risk part of 185.
2.SUNPHARMA
Last
week we saw a mixed movement in Sunpharma. Price closed gained at 688
in F&O. The overall trend is consolidation and we can expect there
would be a pull buy of prices above the consolidation level. There is
immediate support below the level of 670 and 660, the resistance of 703
and the next immediate resistance of 725. Investors can take buy
position when the breakout of resistance level 704 will do. And put the
profit part when prices would comes at level of 714 with risk part of
670. Sun Pharma’s future growth and profitability hinges on its ability
to complete successful resolution of its key Halol plant in Gujarat and
clean up the regulatory mess it acquired through Ranbaxy acquisition. He
further said that making entire lab processes paperless to improve data
reliability to be challenge due to underestimation of the complexity
and enormity of the task.
3.Kwality Limited
We
recommended the stock of Kwality, which jumped almost 10 per cent
accompanied by above-average volume in last week. The stock taking
support at the key base level of 115 in early January, the stock has
been on a medium-term uptrend. While trending up, the stock decisively
breached its 200- and 50-DMAs and hovers well above them. Following a
corrective decline, the stock found support at around 145. With this
rally, the stock appears to have resumed its medium-term uptrend. There
has been an increase in trading volume over the past three weeks. The
daily relative strength index has entered the bullish zone from the
neutral region and the weekly RSI has also entered this zone from the
neutral region. The short-term outlook is bullish. The stock can extend
its uptrend and reach the price targets of 167 and 173 in the upcoming
trading sessions. Investors with a short-term perspective can buy the
stock with a stop-loss at 155.
4.Bharat Financial Inclusion Limited
The
stock of Bharat Financial Inclusion Limited is strong bullish in coming
days. The stock, since taking support at 470 in end December 2016, then
stock has taken uptrend. The long term trend is also up for the stock.
But the stock trade between the ranges of 770 to 810 encountered a key
resistance at 820. In last week, the stock take the support at the level
of 800 and made high of 814 and jumped around 3 percent in a last
trading day. The buying interest is evident as the daily and weekly
chart. It can extend its uptrend and reach the price targets of 835 and
850 in the upcoming trading session. Buy the stock with stop loss at
790.
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