Equity Trading Tips For Profit Earning
Stock Market News and Analysis:
Benchmark indices ended higher but off day’s high on Monday with Nifty finished below 11,700 level. Among the sectors, metal space led the gainers as it ended 2 percent higher followed by auto, IT, infra and bank, while energy and pharma ended with marginal loss. Nifty closed at 11690.35 and for coming session its key support is at 11650 while on higher side its key resistance is at 11740.
Headlines for the day:
Dilip Buildcon Limited arm’s HAM Project in Maharashtra received financial closure on April 11.
- Reddy’s Lab entered into a definitive agreement to acquire a portfolio of 42 approved, non-marketed ANDAs in the US.
- NIIT Tech Limited received a tentative schedule of open offer released.
- TV18 Broadcast share prices slumped 6% even after the company’s posting a profit od Rs29cr in Q4FY19 compared to Rs3 crore in the same period a year ago. The company’s revenue grew 55.9% at Rs1,182 crore in Q4FY19. The company’s EBITDA rose 14.4% to Rs51.7 crore, while margin declined 4.4% versus 6% in the same period a year ago.
- Alembic Pharmaceuticals Limited in its filing to the exchanges, informed that the company received US Food & Drug Administration (USFDA) Approval for Bimatoprost Ophthalmic Solution, 0.03%.
- Infosys Limited share prices dropped 4% in the morning trade and are among top losers on the Nifty50 index. The IT company declared its Q4 result aftermarket hours on Friday, April 12.
- Jet Airways limited 5% stake has been pledged with SBICap Trustee Company,. As per the report, the lenders have taken control of the debt-ridden airline company. Further, 5.19% stake of the airline were pledged with SBICap Trustee Company on April 11
- Wockhardt Limited informed that there was Nil observation (i.e. zero 483 observation) for Bioequivalence Centre located at R&D Centre, Aurangabad inspected by the US Food and Drug Administration.
- Metropolis Healthcare Limited received bids for 4.47cr shares, as per the data. The issue was subscribed 5.84 times. The price band for the issue was fixed at Rs877 to Rs880 per share.
- Bharti Airtel Limited clarifies that current in-principle approval of Department of Telecommunications for the merger of Tata Tele unit with the company is subject to fulfillment of conditions.
- Calls for Tomorrow :
- CALL: BUY CESC EQ ABOVE 750.10 TARGETS 757.60/765.10/772.60 SL 742.60
Description: Stock form consolidation near its key resistance on daily chart and settled with bullishly bias. Hence rally is expected above the mentioned level
- CALL: BUY TATAELXSI EQ ABOVE 1000.70 TARGETS 1010.75/1020.75/1030.75 SL 990.65
Description: Stock heading towards its immediate resistance on daily chart settled with bullishly bias. Hence breakout is expected ahead.