Equity Market Trading Tips And Fundamental Views

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Equity Market Trading Tips And Fundamental Views

Stock Market News and Analysis:

Benchmark Indices traded with a positive bias amid high volatility today as major heavyweights posted a strong recovery in the closing hour of trade. Nifty settled at 12052.95, up by 59.90 points and for coming session its key support is at 12000 while on higher side its resistance is at 13000.

Headlines for the day:

  • DMART allotted listed commercial paper of Rs100cr.
  • Canara Bank's repo rate linked lending rate for Retail and MSME loans at 8.05% with effect from Jan. 7. Base Rate will be 9.1% and one-year MCLR at 8.35%.
  • Biocon Limited has appointed MB Chinappa as the chief financial officer of Biocon Biologics.

Key stocks:

  • Glenmark Pharmaceuticals Inc., USA (Glenmark) has received final approval by the USFDA for Deferasirox Tablets for Oral Suspension, 125 mg, 250 mg and 500 mg, the generic version of Exjade Tablets for Oral Suspension, 125 mg, 250 mg and 500 mg, of Novartis Pharmaceuticals Corporation.
  • ITI Limited declared its unaudited standalone and consolidated financial results for the Third Quarter and nine months ending December 31, 2019-20. The Company reported a turnover of Rs919cr and a PAT of Rs168cr in Q3 of the financial year 2019-20. With this, the company’s net worth has become positive after a period of 16-years.
  • HDFC Bank stated that the bank’s advances aggregated to Rs9.34 lakh cr as of December 31, 2019, a growth of around 20% as compared to Rs7.81 lakh cr as of December 31, 2018, (Rs8.97 lakh cr as of September 30, 2019).
  • Container Corporation of India has incorporated its wholly-owned arm CONCOR Last Mile Logistics, to develop goods sheds, operate and manage freight terminals/ goods sheds, develop warehouses, etc.
  • Suven Life Sciences Limited informed that the Hon'ble National Company Law Tribunal, Bench at Hyderabad has passed an order allowing the Company Petition filed for sanction of the Composite Scheme of Arrangement amongst Suven Life Sciences Limited and Suven Pharmaceuticals Limited and their respective Shareholders and Creditors.
  • Goa Carbon Limited share prices surged higher. Maintenance work at the company's Goa unit has been completed and the Kiln has been lit up from yesterday. Company inform that the maintenance work at the Company's Goa Unit located at St. Jose de Areal, Salcete-Goa has been completed and the Kiln has been lit up from yesterda
  • PI Industries informed regarding a factory accident that happened on Monday in one section of a Multi-Product Plants at our Jambusar fine chemicals manufacturing site in Gujarat. This accident has resulted in two fatalities and nine injuries.

 Calls for Tomorrow:

  • CALL: BUY TECHM EQ ABOVE 779.90 TARGETS 787.70/795.50/803.30 SL 772.10 Description: Stock form consolidation and settled near its key resistance with bullishly bias on daily chart. Hence rally is expected above the mentioned level.
  • CALL: SELL MCDOWELL-N EQ BELOW 562.45 TARGETS 556.80/551.20/545.55 SL 568.10 Description: Stock tanked lower since couple of session settled near its immediate support with bearishly bias on intraday chart. Hence breakout is expected ahead.
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