Markets breached 50 DMA on Tuesday on back of selling in broader markets, but India VIX continued to remain in a narrow range indicating signs of a mere shake out rather than trend reversal. In short term charts, Sensex has seen retracing sharply after hitting new all-time high and negating a double top setup. This would mean that there is high likelihood that prices may find support near 61.8% of Fibonacci retracement soon and we expect to follow-up with high momentum buying.
BSE Sensex Chart
Stocks to watch
Positive Read through
- TCS – Bags order from central bank in us for tcs bancs.
- Bharti Airtel – Bharti Hexacom gets SEBI approval for IPO.
- Voda Idea – ATC telecom to convert Rs. 14.40 bn debentures into shares.
- Aurobindo pharma – Gets US FDA nod for a nasal spray.
- IRB Infra – Gets financial closure for a project worth Rs. 13.31 bn.
- JK Cement – Submits winning bids for two coal blocks in coal mine e- auction.
- Yes Bank – Sells Katerra India exposure to Prudent ARC for Rs. 2.03 bn.
- Ultratech Cement – CCI approves acquisition of Kesoram Cement business.
- AB Sun Life AMC – Non-retail portion of ofs fully subscribed.
- Zomato – Company launches separate fleet for pure vegetarian food orders.
- CAMS – Company has been approved to start operations at a new facility in GIFT City, Gujarat.
- JSW Holding – JSW Group and MG Motor India To Close Their JV Deal Today.
- HCL Tech – Announces partnership with the semiconductor intellectual property cores provider Computer Aided Software Technologies.
- KIOCL – Company installs 4 vertical pressure filters in pellet plant unit at Mangalore.
Negative Read through
- GPT Health – Posted Q3 margin at 21.7 pct Vs 22 pct, sales increased by 4 pct at Rs. 966 mn
- Shakti Pumps – Opens QIP to raise up to Rs. 2 bn, floor price at Rs. 1272/ share.
- Tamilnad MB – RBI imposes penalty of Rs. 13 mn for non-compliance.
- DCB – RBI Imposes penalty of Rs. .6.3 mn for non-compliance.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
