Stock Trading Tip Fundamental analysis Report
Stock Market News and Analysis:
Equity benchmark bounced from the day’s low to end on positive note with Nifty closed above 10,900 level. Among sectors auto, infra, FMCG, metal and pharma witnessed selling pressure, while some buying saw in energy, bank, and IT stocks. Nifty closed at 10912.25 and for coming session its key support is at 10800 while on higher side its key resistance is at 11000.
Headlines for the day:
- Hero MotoCorp Ltd reported a 9% yoy decline in vehicles sales in January 2019.
- Tata Motors’ domestic sales in Jan fell 8% to 54,915 units on a yearly basis
- Coal India’s Jan provisional production hiked by 0.9% to 57.2 MT as against 56.68 MT in Jan 2018 and production off take fell 2.3% to 52.44 MT.
- Laurus Labs has got tentative approval from the USFDA under PEPF AR for Tenofovir, Lamivudine, Dolutegravir (TLD) 300/300/50mg fixed-dose combination (FDC). Even after the news, the company’s stocks declined marginally.
- Larsen & Toubro in its filing informed that its arm L& Larsen & Toubro Construction has secured projects from the Rural Water Supply and Sanitation Department, Government of Odisha.
- Bajaj Auto sold 4.07 lakh units in January 2019 against 3.53 lakh units in January 2018, a growth of 15 percent. The total sales were above the Nomura expectation of 3.88 lakh units
- Reliance Communications share prices tanked 48% after the company decided to propose the debt resolution plan in the National Company Law Tribunal (NCLT) process.
- Godrej Properties Limited share prices rose because the company is going to develop six new projects in Pune. Godrej Properties has entered into an equity investment platform in partnership with a Pune-based developer to develop six projects across Pune.
- Titan Limited declared that interim Managing Director Bhaskar Bhat will retire on September 30, and the company’s current Chief Executive Office of the its jewellery division CK Venkataraman will take over the post of the MD.
- Board of Tech Mahindra approved the acquisition of 100% stake in Netherland-based company’s Dynacommerce Holding for 4.39 mn euros and contingent payments to be made over the period of 5 years.
- Calls for Tomorrow :
- CALL: SELL NTPC EQ BELOW 136.65 TARGETS 135.25/133.90/132.55 SL 138.05
Description: Stock heading towards its immediate support on daily chart and breakout is expected below 136.65.
- CALL: BUY ONGC EQ ABOVE 147.70 TARGETS 149.20/150.65/152.15 SL 146.20.
Description: Stock witnessing correction from lower levels and heading towards its immediate resistance on daily chart. Rally is expected above the mentioned level.