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According to Angel Broking,EURUSD appreciated by 0.38 percent yesterday while EURINR appreciated by 0.29 percent during the same time frame.

EURUSD appreciated by 0.38 percent yesterday while EURINR appreciated by 0.29 percent during the same time frame. Manufacturing PMI from Euro zone came in at 55.1 for June’18 against market expectations of 54.7. Also, trade talks between EU head Jean - Claude Juncker and Donald Trump went well and have likely averted a trade war scenario between the two parties. Markets will be keenly watching the ECB meeting to get clarity about the future policy stance of the central bank.

OUTLOOK EURINR is expected to trade sideways in today’s session. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Capital Ways Investment Adviser
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Sudarshan Sukhani of s2analytics.com is of the view that one may buy Britannia Industries with a target Rs 6540.

The Nifty after opening above 11,000-mark rallied sharply to hit a fresh six-month high and closed around the same level, forming bullish candle on the daily charts on Monday.

The winning of no-confidence motion by Narendra Modi government in the Lok Sabha and cut in GST rates for several products boosted investors' sentiment.

The 30-share BSE Sensex ended at record closing high of 36,718.60, up 222 points while all sectoral indices also finished in the green barring IT.

The broader markets outperformed frontliners with the Nifty Midcap index rising 1.1 percent but despite positive sentiment, more than 300 stocks hit 52-week lows.

Ashwani Gujral of ashwanigujral.com

Buy Godrej Consumer Products with a stoploss of Rs 1330, target Rs 1380

Buy Voltas with a stoploss of Rs 568,, target Rs 590

Buy Maruti Suzuki with a stoploss of Rs 9650,, target Rs 9900

Buy HUL with a stoploss of Rs 1675, target Rs 1740

Buy ICICI Prudential Life Insurance Company with a stoploss of Rs 368, target Rs 390

Sudarshan Sukhani of s2analytics.com

Buy TCS with a stoploss of Rs 1980, target Rs 2040

Buy Britannia Industries with a stoploss of Rs 6360, target Rs 6540

Buy Exide Industries with a stoploss of Rs 266, target Rs 276

Buy Granules with a stoploss of Rs 93, target Rs 99

Sell PVR with a stoploss of Rs 1170, target Rs 1110

Mitessh Thakkar of mitesshthakkar.com

Buy Granules India with a stoploss of Rs 91, target Rs 100

Buy ITC with a stoploss of Rs 276, target Rs 296

Buy Mahanagar Gas with a stoploss of Rs 832, target Rs 870

Buy Repco Home with a stoploss of 578, target Rs 640

Sell TVS Motor with a stoploss of 55, target Rs 515

Capital Ways Investment Adviser

605, Industry House , AB road Indore (MP) 452001

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Considering the derivatives expiry next week, Vikas Jain of Reliance Securities expects the market to remain volatile with respect to rollover movements in individual sectors and stocks

The Nifty traded in a narrow 150 points range last week, while individual stocks reacted sharply in tandem with their quarterly performance and management guidance. Bajaj Finance, Bajaj Finserve and RBL Bank scaled new 52-week highs after their results last week, while Ashok Leyland, Bajaj Auto and Kotak Mahindra Bank declined 20 percent, 10 percent and 5 percent, respectively.

The rupee continued to trade weak, closing near 69 levels to the dollar and weighing on bond yields and fiscal deficit.

The Nifty ended last week 0.1 percent lower, while midcap and smallcaps declined 1.1 percent and 2.4 percent, respectively.

Performance of sectors were mixed with energy and IT up 1.8 percent and 1.1 percent, while metals, pharma and realty declined 5.9 percent, 2.9 percent and 3.7 percent for the week, respectively. India VIX gained 10 percent for the week.

On the weekly chart, the Nifty has formed a Doji pattern. We continue to remain positive on the market with key support placed at 10,850, which would act as trend reversal. However, its 76.4 percent and 100 percent Fibonacci extension levels of the prior upmove (9,952-10,929) will work as a major hurdle. The latter are placed at 11,150 and 11,400 levels, respectively.

Considering derivatives expiry this week, we expect the market to be volatile with respect to rollover movements in individual sectors and stocks.

Capital Ways Investment Adviser

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Geojit recommended accumulate rating on Federal Bank with a target price of Rs 101 in its research report dated July 18, 2018.

Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Kerala having 1252 branches and 1696 ATMs spread across different States in India with a loan book size of ~ 92,000Cr. Interest income grew by 15% and reflected 22% growth in NII led by strong loan growth coupled with stable NIM PAT increased by strong 25% in Q1FY19 due to lower provisioning YoY. Stable GNPA ratio at 3%/ and NNPA ratio slightly increased by 3bps to 1.72% in Q1FY19 against 1.69% in Q4FY18. Loan book grew by 24% YoY with the strong growth across Retail, SME and Corporate segments, while deposits grew by 16% YoY. Robust retail network will lead to 22% CAGR in loan book and 30% CAGR in earnings over FY18-20E.

On the back of strong PAT growth against de-growth in last quarter & with healthy earnings outlook, we value FB at 1.6x FY20E adjusted BV and recommend Accumulate with a target price of Rs 101.

Capital Ways Investment Adviser

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Ashwani Gujral of ashwanigujral.com recommends buying Yes Bank with a stop loss of Rs 387, target of Rs 405, Indraprastha Gas with a stop loss of Rs 268, target of Rs 284 and Reliance Industries with a stop loss of Rs 1090, target of Rs 1140.

The index remained below its psychological 11,000-mark and registered a bearish candle for the second consecutive session today. Not only frontline but also Nifty Midcap index ended lower for the second day in a row, losing 0.7 percent. In fact, all sectoral indices closed in the red except FMCG.

The current rangebound trade indicated the market eagerly awaits more corporate earnings data to get direction on either side by breaking the range of 10,925-11,080 levels, experts said.

The 50-share NSE Nifty opened higher at 10,999.50 and hit an intraday high of 11,006.50, but immediately wiped out those gains to trade in a tight range of 70 points. The index touched day's low of 10,935.45, before closing 23.40 points lower at 10,957.10.

According to Pivot charts, the key support level is placed at 10,926.23, followed by 10,895.37. If the index starts moving upwards, key resistance levels to watch out are 10,997.23 and 11,037.37.

The Nifty Bank index closed at 26,789.65, down 91.25 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 26,671.4, followed by 26,553.1. On the upside, key resistance levels are placed at 26,966.7, followed by 27,143.7.

Prakash Gaba of prakashgaba.com

Buy Reliance Industries with target at Rs 1135 and stop loss at Rs 1095

Buy L&T Finance Holdings with target at Rs 156 and stop loss at Rs 148

Buy Titan Company with target at Rs 900 and stop loss at Rs 850

Sell Jain Irrigation Systems with target at Rs 70 and stop loss at Rs 76

Mitessh Thakkar of mitesshthakkar.com

Buy Kaveri Seed Company with a stop loss of Rs 556 and target of Rs 590

Sell Larsen & Toubro with a stop loss of Rs 1280 and target of Rs 1215

Sell Hexaware Technologies with a stop loss of Rs 492 and target of Rs 470

Sell Pidilite Industries with a stop loss of Rs 1060 and target of Rs 1018

Sell JSW Steel around Rs 306 with stop loss of Rs 312 for target of Rs 293

Ashwani Gujral of ashwanigujral.com

Buy Yes Bank with a stop loss of Rs 387, target of Rs 405

Buy Indraprastha Gas with a stop loss of Rs 268, target of Rs 284

Buy Reliance Industries with a stop loss of Rs 1090, target of Rs 1140

Sell Dr Reddy's Labs with a stop loss of Rs 2050, target of Rs 1990

Sell Jain Irrigation Systems with a stop loss of Rs 77, target of Rs 69

Capital Ways Investment Adviser

605, Industry House , AB road Indore (MP) 452001

info@capitalways.com

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Ashwani Gujral of ashwanigujral.com recommends buying Asian Paints with a stop loss of Rs 1380, target of Rs 1420 and KPIT Tech with a stop loss of Rs 296, target of Rs 311.

The 30-share BSE hit a fresh record high of 36,747.87 before closing 146.52 points lower at 36,373.44 while the Nifty Midcap index lost a percent.

The Nifty after opening at 11,060.20 moved close to last week's high to hit an intraday high of 11,076.20, but selling pressure in afternoon dragged it below the psychological 11,000-mark to hit day's low of 10,956.30.

The index closed 27.50 points lower at 10,980.50, but managed to hold its 5-DEMA of 10,972.

India VIX moved up by 6.70 percent at 13.68 levels. VIX has gone to its highest levels in last 12 sessions amid political concern.

According to Pivot charts, the key support level is placed at 10,932.47, followed by 10,884.43. If the index starts moving upwards, key resistance levels to watch out are 11,052.37 and 11,124.23.

The Nifty Bank index closed at 26,880.9 on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,747.8, followed by 26,614.7. On the upside, key resistance levels are placed at 27,100.6, followed by 27,320.3.

Capital Ways Investment Adviser

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Immediate support for the Nifty is seen around 10,800 and 10,600 levels, whereas 11,200 will act as stiff resistance, says Abhishek Mondal of Guiness Securities.

The benchmark Nifty snapped its two-day losing streak and ended higher on Tuesday with gains of over half a percent at 11,008.05. After making a cautious start, bulls tightened their grip on the Indian equity market and traded in fine fettle on fresh buying by bulls after a sharp drop on crude oil prices, strengthening dollar-rupee and optimism over better Q1 earnings.

The Nifty is continuously trading above its 76.8 percent retracement level (January to March 2018 downfall), which indicates that it has the potential to move higher around 11,171 levels (lifetime high touched in January) with an immediate support at 10,890 (76.8 percent retracement levels of January to March downfall) and 10,849 (20-day exponential moving average).

The relative strength index (RSI) is trading at 63.04, showing positive movement. The moving average convergence divergence (MACD) is trading above the zero line with a positive crossover, which indicates that the bias could remain positive in the short term. The volatility index ended down 0.95 percent at 12.82. A decrease in VIX suggests limited downside and a consolidated upmove in the market.

On the options front, maximum call open interest of 35.72 lakh contracts is seen at strike price 11,000, followed by 11,200, which now holds 32.25 lakh contracts. Maximum put open interest of 48.76 lakh contracts is seen at 10,600 strike, followed by 10,800, which now holds 46.93 lakh contracts.

As per options data, support for the Nifty has shifted higher in the July expiry compared to last week. Immediate support is seen around 10,800 and 10,600 levels, whereas 11,200 will act as stiff resistance.

Capital Ways Investment Adviser

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“If the Nifty holds 10,929 levels, it can bounce towards 11,000-11,020 levels.For the uptrend to continue, 11,080 needs to be taken out decisively,” says Ashish Chaturmohta of Sanctum Wealth Management

After last week’s gains, the markets got off to a negative start with the Nifty losing 0.74 percent on Monday to close at 10,937 levels. Increase in wholesale inflation also piled pressure on the market.

The market breadth on the NSE was in favour of declines with 5 shares falling for every 1 gaining stock. The broader markets were hit hard as the BSE Mid and Smallcap indices lost 2.5 percent each for the day.

The Nifty has formed a long bearish belt hold candle for the day. The index managed to find support at previous high - 10,929 - which will now act as support.

Holding above 10,929 levels, the index can see a bounce towards 11,000-11,020 levels. For the uptrend to continue, 11,080 needs to be taken out decisively.

Trading below 10,929 on a sustainable basis will see further profit booking towards 10,880-10,860 zone. A 38.2 percent retracement of the rise from 10,557 to 11,078 levels and rising gap area of July 10 is seen.

In Nifty options, huge amount of put unwinding was seen at 11,000 from 10,600 strikes and call writing was seen in 11,000 and 11,200 strikes, which suggests that the upside is likely to capped and the market could see pressure on the downside.

India VIX needs to be watched as it is turning up from support levels after seeing a jump of 5.3 percent to 12.95 levels.

Capital Ways Investment Adviser

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Strong global cues and fall in crude oil prices helped the index to climb record highs. The ruboff effect was seen on the small & midcap stocks as well which remained under pressure in 2018 after posting stellar returns in calendar year 2017.

The S&P BSE Sensex rose 2.4 percent to end at a fresh record closing high of 36,541.63 for the week ended July 13, but nearly 40 stocks from the BSE Smallcap index rose 10-30 percent in the same period.

The Smallcap index which remained under pressure in 2018 rose nearly 1 percent for the week ended 13 July and as many as 37 companies gave double digit returns. Stocks which gave 10-20 percent return include names like Aegis Logistics, Prabhat Dairy, KRBL, Capital Trust, IVRCL, MIRC Electronics, Action Construction, Monet Ispat, and IVRCL among others.

Stocks which rose 20-30 percent include names like Arrow Greentech Ltd (up 27 percent), followed by Pincon Spirits (up 27.4 percent), GVK Power (up 27.3 percent), Electrosteel Steels (up 27.09 percent), and RS Software (up 22.4 percent).

It will not be a one-way rally unlike what D-Street witnessed in the calendar year 2017. Most analyst expect the index to consolidate further and it will not one way move on either side.

"The rally in the Sensex will not continue the way it has in the past one month, but it will be more broad-based wherein Sensex will consolidate but other indices will catch up," Jimeet Modi, Founder & CEO at Samco Securities & StockNote told Moneycontrol.

Capital Ways Investment Adviser

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info@capitalways.com

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For a short to medium term perspective, Thursday high of 11,078 will act as an immediate hurdle above which index is likely to test its all-time high of 11,171.55.

After 8 weeks of long consolidation, the benchmark index finally confirmed its breakout in Tuesday’s trade by opening higher with a decent gap. Subsequently, the momentum accelerated further, with the Nifty surpassing the 11,000 mark. It rallied to 11,078.30 in Thursday’s session.

In the last hour of trade, market participants decided to take some profit off the table which had a rub-off effect as the Nifty erased some of its intraday gains. It however managed to hold on to 11,000 levels on a closing basis.

The benchmark indices is a few points away from its all-time high. However, there are certain pockets which are still trading near its 52-week low.

It doesn’t mean we are sounding bearish at this point of time. What we have seen is that the recent rally was largely fuelled by few index heavyweights. The long traders must follow a strict stop-loss on position and keep trailing their stop-losses on every rise.

For a short to medium term perspective, Thursday high of 11,078 will act as an immediate hurdle above which index is likely to test its all-time high of 11,171.55. On the flip side, 10,920 will act as an immediate support below which the strong support seen is placed at Tuesday’s gap area of 10,876–10,860.

Here are the lists of 3 stocks that could return 8-12 percent in 15-21 trading sessions:

Looking at the daily chart, the stock has been in a downtrend since the past several weeks and is forming Lower Top Lower Bottom formation on the daily chart.

In that pessimism, the stock hit a low of Rs 187 which coincided with the weekly 89-EMA and saw a decent pullback towards Rs 206.

The level of Rs 206 coincided with the 61.8% retracement of its previous swing move. The daily RSI (14) signaled a negative reversal pattern. The said pattern indicates the recent bounce was merely a pullback and the current downtrend is still intact.

The weekly 9-45 EMA has signaled a negative crossover. Hence, we recommend traders to build a short position in the range of Rs 203 to Rs 206 with a price target of Rs 180. A stop loss should be placed at Rs 217.50 on the daily closing basis.

After posting a fresh high of around Rs 130, the stock corrected sharply and slipped below Rs 100 levels. Off late, the stock saw a decent pullback and bounced towards Rs 108 levels which coincided with the multiple resistances such as 89-EMA & 200 DMA on daily charts comes near the Rs 108 level.

During Thursday’s session, the stock resumed its downtrend and nosedived sharply. As a result, Thursday’s candle resembles a formation of a bearish engulfing pattern.

The daily RSI (14) resist near 60 levels. The overall trend is still down, therefore, we advocate traders to build a short position in the range of Rs 104 to Rs 106 with a price target of Rs 91. A stop loss should be placed above Rs 110.50.

The stock confirmed its breakout from a triangle pattern during mid-June 2018 and saw an acceleration of bullish momentum. In that optimism, the stock hit a fresh all-time high of around Rs 29,675.

Subsequently, it saw a mild profit booking and gradually descend towards 28,000 levels. Looking at the daily chart, the previous swing high (on a closing basis) of June 25, 2018, comes near 28000 – 28200 zone which is likely to act as an immediate support.

The daily RSI (14) has signaled Positive Reversal. Hence, we suggest traders accumulate the stock in a range of Rs 28,200 – 28,000 with a price target of Rs 30,500 and a stop loss placed below Rs 26,875.

Capital Ways Investment Adviser

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info@capitalways.com

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Traders can accumulate the stock in the range of Rs 133-135 for the target of Rs 150 with a stop loss below Rs 128, says Achin Goel of Bonanza Portfolio.

The price of ITD Cementation has moved above the previous swing high on the daily chart which suggests reversal of the previous trend. Moreover, the price has moved above the 21-EMA on the daily chart.

The momentum indicator, RSI (14) has shown a positive divergence on the daily chart which suggests momentum to remain positive in the near to short-term. Traders can accumulate the stock in the range of Rs 133-135 for the target of Rs 150 with a stop loss below Rs 128.

Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Capital Ways Investment Adviser

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info@capitalways.com

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The markets got a further boost after a Reserve Bank of India (RBI) report showed that the corporate sector recorded robust sales growth in Q4 FY18.

Guiness Securities

Bulls tightened their grip on Indian equity benchmarks in Tuesday’s afternoon session, with the Sensex and Nifty extending their gains for the third consecutive day. Indices hit fresh intraday highs supported by strong global cues, optimism over Q1 earnings and sustained buying in heavyweights.

The markets got a further boost after a Reserve Bank of India (RBI) report showed that the corporate sector recorded robust sales growth in Q4 FY18.

The Nifty surged 0.87 percent to close at 10,947.25, forming a solid bullish candle on the daily chart. It has given a breakout with a strong bullish candle after trading rangebound from eight weeks on the trot. This indicates that the index has a potential to move higher around 11,171 levels (lifetime high levels of January) with immediate support at 10,760 (20-day exponential moving average) and 10,713 (50 DMA).

The index is trading at relative strength index of 63.32 and is showing positive movement. The moving average convergence divergence is trading above the zero line with a positive crossover, which indicates that the bias could remain positive in the short term. The volatility index ended up 0.04 percent at 12.39. A decrease in VIX suggests limited downside and a consolidated upmove in the market.

On the options front, maximum call open interest of 37.01 lakh contracts is seen at the 11,000 strike price, followed by 10,800, which now holds 32.24 lakh contracts. Maximum put OI of 52.07 lakh contracts is seen at the strike price 10,600, followed by 10,700, which now holds 46.70 lakh contracts. Immediate support is placed around 10,700 and 10,600, whereas 11,000 will act as a stiff resistance before June expiry.

Here is a list of 3 expert stock ideas which could return 6-13% return in the next 1-2 months:

Petronet LNG: Buy | Close: Rs 222.80 | Target: Rs 251 | Stop loss: Rs 202 | Return: 12.56%

The stock has made a double bottom near Rs 202 levels and has seen a positive price momentum in the past few days crossing the short term averages with moderate volumes.

The key technical indicators such as Relative strength index (RSI) is showing a positive momentum and MACD trading around the zero line with a positive crossover which indicates limited downside for the stock.

Traders can buy the stock in the range of Rs 220-223 with a stop loss below Rs 202 (closing) for a target of Rs 251.

Century Textiles & Industries Ltd: Buy | Close: Rs 935.45 | Target: Rs 1010 | Stop loss: Rs 898 | Return: 7.97%

After a decent correction from its 52-weeks high, the stock surged strongly on Friday with exceptionally higher volumes. On the daily scale, Relative strength index (RSI) is showing positive momentum and MACD trading below zero line with positive crossover whereas (+)DI just crossover the (-)DI.

Based on the above observations, traders can buy the stock at around current levels and add on dips around Rs 918-920 with a stop loss below Rs 898 (closing) for a target of Rs 1010.

Mahindra & Mahindra: Buy | Close: 930.55 | Target: Rs 975 | Stop loss: Rs 902 | Return: 5.29%

The stock has given a breakout from the symmetrical triangle pattern around Rs 915-917 on Friday on the daily chart with higher volumes.

A daily momentum indicator Relative Strength index (RSI) reading at 61.51 level shows a sideways positive momentum and MACD trading above zero line with positive crossover whereas OBV — On Balance Volume is showing an upward momentum and (+) DI continuously trading above (-) DI, which indicates that the stock has the potential to move higher.

Traders can buy the stock in dips around Rs 923-926 with a stop loss below Rs 902 (closing) for a target of Rs 975

Capital Ways Investment Adviser
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Mitessh Thakkar of mitesshthakkar.com recommends buying Exide Industries with a stop loss of Rs 264.9 and target of Rs 280, RBL Bank with a stop loss of Rs 570 and target of Rs 600 and HCL Tech with a stop loss of Rs 949 and target of Rs 985.

The Nifty, which started off the week on a positive note, maintained uptrend throughout the session and managed to hold on to 10,850 levels at close on Monday, backed by positive global cues.

The index made a bullish candle which looked like a 'Hanging Man' kind of pattern. The Nifty, which opened at 10,838.30, jumped to hit an intraday high of 10,860.35, before closing 80.20 points higher at 10,852.90.

India VIX fell 0.68 percent to 12.36 levels. VIX has been falling down from last five trading sessions and lower volatility indicates bullish stance of market till it remains below 13.50 zones.

According to Pivot charts, the key support level is placed at 10,819.97, followed by 10,787.03. If the index starts moving upwards, key resistance levels to watch out are 10,873.07 and 10,893.23.

The Nifty Bank index closed at 26,753.3. The important Pivot level, which will act as crucial support for the index, is placed at 26,649.53, followed by 26,545.77.

On the upside, key resistance levels are placed at 26,819.13, followed by 26,884.96.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Ashwani Gujral of ashwanigujral.com

Buy RBL Bank with a stop loss of Rs 570, target of Rs 605

Buy Divis Labs with a stop loss of Rs 1080, target of Rs 1135

Buy Hindustan Unilever with a stop loss of Rs 1675, target of Rs 1730

Buy Jubilant Foodworks with a stop loss of Rs 1395, target of Rs 1440

Buy Biocon with a stop loss of Rs 630, target of Rs 655

Sudarshan Sukhani of s2analytics.com

Buy Kotak Mahindra Bank with a stop loss at Rs 1370 and target of Rs 1400

Buy Dr Reddy's Labs with a stop loss at Rs 2300 and target of Rs 2370

Buy Reliance Industries with a stop loss at Rs 980 and target of Rs 1020

Buy Aurobindo Pharma with a stop loss at Rs 610 and target of Rs 645

Sell Tata Steel with a stop loss at Rs 566 and target of Rs 540

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Mitessh Thakkar of mitesshthakkar.com

Buy Exide Industries with a stop loss of Rs 264.9 and target of Rs 280

Buy RBL Bank with a stop loss of Rs 570 and target of Rs 600

Buy HCL Tech with a stop loss of Rs 949 and target of Rs 985

Buy Voltas with a stop loss of Rs 525 and target of Rs 551

Sell Titan Company with a stop loss of Rs 834 and target of Rs 795

Capital Ways Investment Adviser

605, Industry House , AB road Indore (MP) 452001

info@capitalways.com

https://www.capitalways.com/

The tablets will be manufactured at the exisitng facility in SEZ, Ahemdabad.

Shares of Cadilla Healthcare gained 2% on receipt of USFDA approval for Deferasirox tablets for oral suspension in the strengths of 125 mg, 250 mg and 500 mg.

The tablets will be used to treat ongoing high levels of iron in the body caused by multiple blood transfusions.

It is also used to treat high levels of iron in people with a certain blood disorder who do not require blood transfusions.

The tablets will be manufactured at the exisitng facility in SEZ, Ahemdabad.

With this approval, the company now has 202 approvals from the FDA.

At 09:50 hrs Cadila Healthcare was quoting at Rs 387.00, up Rs 5.35, or 1.40 percent on the NSE.

It has touched an intraday high of Rs 389.55 and an intraday low of Rs 384.50

Currently, it is trading 31.2 percent below its 52-week high and 12.92 percent above its 52-week low.

Capital Ways Investment Adviser

605, Industry House , AB road Indore (MP) 452001

info@capitalways.com

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“Indian markets closed the day on a positive note ending below 10,800 levels. Positive monsoon expectation will help drive sales in the coming quarters,” Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas said

The S&P BSE Sensex might have risen just about 0.6 percent but over 30 stocks from the small & midcap space gave 10-30 percent return for the week ended July 6.

As many as 34 stocks from the S&P BSE Smallcap index rose in double digits up to 31 percent in five trading sessions which include names like Arshiya (up 31 percent), MBL infrastructures (up 27 percent), Electrosteel Steels (up 27 percent), Alok Industries (up 26 percent) and MIC Electronics (up 26 percent).

On the losing side, as many as 27 companies saw double-digit cuts up to 27 percent for the week ended July 6 which include names like Hathway Cable, Kitex Garments, Den Networks, 8K Miles, Pincon Spirit, Vakrangee, JBF Industries, Uttam Galva, Kwality among others.

Trade war fears, the launch of JioGigaFibre, which weighed on telecom and cable TV stocks, kept the market under check. However, expectations of strong earnings from India Inc., monsoon rains, and hike in MSP rate helped D-Street to climb all wall of worries.

“Indian markets closed the day on a positive note ending below 10,800 levels. Positive monsoon expectation will help drive sales in the coming quarters. We continue to maintain a positive view on the market and feel the governments focus on rural India, financialisation of savings, infrastructure spending will help companies,” Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas told Moneycontrol.

“We prefer stocks such as Max Financials with an upside of 32 percent and Persistent Systems with an upside of 16 percent,” he said.

Stocks hitting all-time highs

The S&P BSE Smallcap index might have closed marginally in the positive territory but as many as 8 stocks from the S&P BSE Smallcap index hit a fresh all-time high for the week ended July 6.

Stocks which rose to fresh all-time high include names like Elctrosteel Steels, Graphite India, Garware-Wall Ropes, HEG, Tata Elxsi, Jubilant Foodworks, and Bata India.

While more than 150 stocks hit a fresh 52-week low in the S&P BSE Smallcap index which includes names like Hathway Cable, Kitex Garments, Kushal, 8K Miles, Shilpi Cable, NBCC, Jindal Stainless, Century Enka, Uttam Galva etc. among others.

Capital Ways Investment Adviser

605, Industry House , AB road Indore (MP) 452001

info@capitalways.com

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The Nifty is likely to face resistance near 10,820 levels and then near the 10,885–10,930 zone, says Aditya Agarwal of Way2Wealth Brokers

Aditya Agarwal

Despite the breakdown seen on the charts from 10,700 levels during last week, bulls showed tremendous resilience and rebounded sharply from its support level of 10,550.

Looking at the daily chart, the index is broadly trading in a range. It has formed a triangle pattern and is currently trading near the mid-point of that pattern.

Looking at the recent momentum, Nifty formed lower peaks on the daily chart. Also, the daily relative strength index (14) is correcting and forming lower peaks. Such a pattern indicates a probable distribution phase. The weekly RSI (14) continued its struggle near 60 levels.

Now, the Nifty is likely to face resistance near 10,820 levels and then near the 10,885–10,930 zone. On the flip side, 10,550 which coincides with the June month and daily swing low, will act as strong support. Immediate support is seen near 10,675 levels.

Options data suggest more of rangebound trade for the Nifty in the short term. On the higher side, call writing at 10,800 strike option will continue to act as a stiff resistance zone, whereas put writing at 10,600 will act as a strong support for the index.

Any breakout from this range will set the direction for indices in the short to medium term.

Here is a list of top three stocks that could offer 5-10 percent return:

Marico: Buy around Rs 345 – 340 | Target: Rs 360| Stop loss: Rs 335 | Return: 4.6%

Looking at the daily chart, the stock has consolidated in a range and formed a Descending Triangle pattern. During Wednesday’s trade, the stock confirmed its breakout from the triangle pattern.

The daily Bollinger Band which has now started expanding indicates a period of high volatility on the card. Thus, we recommend traders to accumulate this stock in the range of Rs 345 to Rs 340 with a price target of Rs 360 and a stop loss placed below Rs 335.

Motherson Sumi Systems: Sell around Rs 294– 297 | Target: Rs 264 | Stop loss: Rs 310 | Return: 10%

After confirming its breakdown from the Head & Shoulder pattern on the weekly chart, the stock has corrected sharply and hit a fresh 52-weeks low of around Rs 274.

Subsequently, it saw a decent pullback from the oversold zone and gradually rallied towards Rs 295 – 297 zone. Looking at the daily chart, the zone of Rs 295 – 300 which was earlier acting as an immediate support had reversed its role post-breakdown and now will act as an immediate hurdle.

The daily RSI (14) has signaled a Negative Reversal pattern on daily chart. Thus, we advocate traders to build a short position in the range of Rs 294 to Rs 297 with a price target of Rs 264 and a stop loss placed above Rs 310 on a closing basis.

Cholamandalam Investment: Sell below Rs 1,483 | Target: Rs 1,365 | Stop loss: Rs 1,530 | Return: 8%

After forming a Lower Top on the daily chart, Chola Finance corrected sharply and broke the swing low of Rs 1,465 which eventually confirmed the Lower Top Lower Bottom formation on the daily chart.

Subsequently, the stock consolidated in a narrow range which resulted into a formation of Bearish Flag pattern on the daily chart.

The said pattern will be confirmed if the stock starts to trade below Rs 1,483. The daily RSI (14) broke the support level of 40 which support our hypothesis. Thus, traders can short Cholamandalam Investment below Rs 1,483 with a price target of Rs 1,365. A stop loss should be placed at Rs 1,530.

Capital Ways Investment Adviser

605, Industry House , AB road Indore (MP) 452001

info@capitalways.com

https://www.capitalways.com/

The markets are factoring in the value from the retail division of Reliance Industries in the latter’s price.

A recent Goldman Sachs report has hinted at the possibility of Reliance Retail going public in the foreseeable future. This calls for a closer look at the Mukesh Ambani-led retail giant, especially at a time when D-Street is getting increasingly bullish about this fast growing sector.

About Reliance Retail

Reliance Retail (RR), a part of Reliance Industries, is India’s biggest retailer by revenue and network. The company has 7,573 retail stores (with a retail area of 17.7 million square feet) and 495 company owned company operated (COCO) petro retail outlets across more than 4,400 cities throughout the country.

What could work in Reliance Retail’s favour?

Supply chain tie-ups: Given the breadth of its presence, RR has been successful in sourcing products cheaply and has ensured last-mile connectivity through distribution partners across geographies.

Brands: Keeping product differentiation and appeal in mind, RR has a basket of private label brands in its kitty:

Since its own brands have better margins, the company can afford to increase marketing and promotional spends for the same to drive revenue growth.

Diverse product range: RR’s key product verticals include fuel retailing (Reliance petrol pumps), food items, apparel, lifestyle accessories, electronic goods, jewellery and footwear. Varied price points within each category, coupled with periodic schemes/discounts, have helped mitigate segmental risks and boosted revenue growth over the years.

Aggressive expansion: To accelerate sales growth, RR is focusing on a healthy blend of outlet additions and same-store sales growth. Grocery and fashion outlets attract high footfalls, but consumer electronics have a higher ticket size per transaction. To capitalise on the boom in e-commerce, the company is investing more in its online portals too.

Capital Ways Investment Adviser

605, Industry House , AB road Indore (MP) 452001

info@capitalways.com

https://www.capitalways.com/