Equity Trading Tips & Technical Fundamental Analysis
Stock Market News and Analysis:
It’s a strong begin to the New Year as bulls took complete charge in the last hour of trading session. The Nifty reclaimed 10,900-mark & ended at 10910.10 and for coming session its key support is at 10850 while on higher side its key resistance is at 10950.
Headlines for the day:
- HDFC Bank raised lending rates by 10 basis points.
- Shriram Transport Finance Limited would consider increasing fund through debt during the month of January.
- Lupin Limited gets US Food & Drug Administration approval for Clobazam Oral Suspension.
- Mahindra and Mahindra Limited registered volume growth of 1% yoy in December 2018. It sold 39,755 units in December 2018 vwesus 39,200 units in December 2017 and 45,101 units in November 2018..
- Ashoka Buildcon Limited informed that its subsidiary Ashoka Bagewadi Saundatti Road Limited is entitled to receive annuity amount from Karnataka Road Development Corporation Limited as the arm executed Commercial Operation Date of its Hybrid Annuity Mode project.
- Escorts Limited reported strong volume numbers in December 2018. It sold 4,598 tractors in December 2018. Total volumes for the month were higher 28% yoy and lower 43% mom.
- Dredging Corporation of India share prices extended its gain for fifth straight session and bounced by 8.5% intraday on the back of high volumes. The company experienced a spurt in volumes by more than 5.17 times.
- Atul Auto share prices surged 20% intraday company posted healthy sales numbers for the month ended December 2018. The company has posted 50% jump in its December 2018 total sales at 4,332 units against 2,890 units, in December 2017.
- Bharat Heavy Electricals Limited shares prices surged 2% intraday after the company secured an order worth Rs 3,500 crore for setting up a 660 Mega Watt supercritical thermal power plant in West Bengal.
- JMC Projects Limited share prices surged 7% in intraday trade as the company announced securing two projects worth Rs 596 crore. The company has secured two projects i.e. one is a residential and commercial project in South India worth Rs434 crore and the other is a civil works project for a steel plant in Orissa for Rs162 crore.
- Calls for Tomorrow :
- CALL: BUY SBIN EQ ABOVE 302 TARGETS 305/308.05/311.10 SL 298.95
Description: Stock heading towards its key resistance on daily chart & rally is expected above the mentioned level.
- CALL: BUY HDFC EQ ABOVE 2017 TARGETS 2037.20/2057.35/2077.55 SL 1996.80
Description: Stock heading towards its immediate resistance on daily and breakout is expected above 2017.