High Equity Trading Tip & Strategy


High Equity Trading Tip & Strategy

Stock Market News and Analysis:

The market registered eighth consecutive day fall on May 10 with Nifty ended below 11,300. Metal, IT, pharma, energy, FMCG and auto witnessed selling pressure, while some buying seen in the banks and infra sectors. Nifty closed at 11278.90 and for coming session its key support is at 11180 while on higher side its resistance is at 11360.

Headlines for the day:

  • Maruti Suzuki India stated that it has cut its vehicle production by around 10% across its factories in April.
  • Arm of Reliance Industries inked a definitive agreement to acquire 100% stake in British toy retailer Hamleys for GBP 67.96 million.
  • Quess Corp Limited completed the acquisition of 100 percent stake in Greenpiece Landscap

Key stocks:

  • Canara Bank share prices were trading 3% higher in the last hour of the trading session. The bank’s net loss of the fourth quarter of FY19 narrowed to Rs551.53 crore versus a loss of Rs4.859.77 crore in the same period a year ago.

  • Strides Pharma Science Limited’s Q4FY19 revenue was increases by 24% at Rs 838.9 crore, with EBITDA of Rs158.1 crore, rose by 57% on yoy basis. Adjusted PAT for Q4FY19 stood at Rs60.9 crore. The board recommended a dividend of Rs3 each equity share of the face value of Rs10.
  • State Bank of India share prices were trading 3% higher after the bank's Q4FY19 NII came at Rs22,954 crore versus Rs19,974 crore, which is up by 14.9% yoy. Notably, the bank has reported a net profit of Rs838.4 crore in Q4FY19.
  • Lupin Limited informed that the company has launched Clobazam Tablets, 10 mg and 20 mg, having received an approval from the USFDA earlier. Even after this, shares of the company were trading 2% down.
  • NIIT Tech share prices were trading 1% higher after the company got approval from the Competition Commission of India, the anti-trust authorities in Germany, and the United States of America for acquisition of share capital of the company by Hulst B.V.
  • PNB Housing Finance’s net profit increased by 51% to Rs379.7 crore from Rs251.6 crore for Q4FY19. Net Interest Income registered a growth of 13% to Rs609.7 crore from Rs540.8 crore. The company’s Net Interest Margin for Q4FY19 stood at 3.18% compared to 3.59% for Q4FY18.
  • HCL Technologies Limited share prices declined 4% after the company’s PAT for the fourth quarter of FY19 fall 1.6% qoq at Rs2,568 crore. The company’s revenue increased 1.9% qoq to Rs15,990 crore. EBIT came in at Rs3,039 crore, declined 1.5% qoq against median consensus estimate of Rs3,100 crore. EBIT margins contracted by 65bps qoq to 19%.
  • Calls for Tomorrow :
  • CALL: BUY PFC EQ ABOVE 108.85 TARGETS 109.95/111.05/112.15 SL 107.75 Description: Stock heading towards its immediate resistance and settled with bullish bias. Hence breakout is expected ahead.
  • CALL: SELL IOC EQ BELOW 146.85 TARGETS 145.35/143.90/142.40 SL 148.35 Description: Stock heading towards its key support on daily chart and settled with bearishly bias. Hence rally is expected below the mentioned level.
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