The market continued to drift lower for the fourth consecutive session on weak global cues and renewed fears of the rupee weakening against dollar. The Nifty closed at 6141, which for the first time was below its 21-day EMA after almost a month. On the weekly chart the Nifty has formed an expanding triangle which is a bearish pattern. Going ahead, the Nifty has a strong support around level of 6070-6080. If it holds on to these levels, we may see a minor bounce up to levels of 6150-6200 in the short term. If the Nifty breaks these levels we may drift down to 6000. On the upside the index has a strong resistance at around 6165 with the second resistance coming around 6200.
Reliance Power (RPower) has
reportedly approached Power Finance Corporation (PFC) yet again for loans
aggregating to Rs 5000 crore. These loans are for its two projects – Rs 2500
for the Samalkot (Andhra Pradesh) project and Rs 2584 crore for the Tato – II
(Arunachal Pradesh) project. The stock will remain in focus based on these
developments. A financial tie up for these two projects spells good for the
company.
The Singh brothers (of
Ranbaxy fame) are in trouble and that spells a bad bout for the Ranbaxy stock.
Reports suggest that the Japanese pharma giant Daiichi Sankyo has accused both
the brothers of having hidden and also misrepresented facts at the time of the
USDW 2.4 billion buyout of a controlling stake in the company. The company is
seeking compensation for the USD 500 million settlement it had to reach with
authorities in the US following enquiries on the practices adopted by Ranbaxy
for getting approvals. You surely know where the stock is headed this week
One stock that will be
zooming up and staying in focus for the week or probably for even some more
time to come is Tata Motors. The superlative results of the company powered by
a good performance of the JLR will keep the stock on every investor’s radar. At
a time when almost the whole of the auto sector is reeling under pressures of a
lower demand, this comes as a good surprise.
Among the first few, public
sector bank Dena Bank intends to raise Rs 600 crore through a qualified
institutional placement (QIP). The government is expected to pump in Rs 700
crore in the bank as capital and its management is reportedly planning to raise
another Rs 600 crore through the QIP to support its needs. The stock will
remain in focus for today following this development.
Some more stocks that will
ride news flows today include Coal India which has reported to have said that
its subsidiary BCCL will be enhancing its output to 36 million tones in the
next three years. Ashok Leyland is another stock which will be on the markets
radar today. The company has announced a VRS for its workers. According to
reports, the VRS is aimed at bringing down manpower costs and aligning fixed
costs. This is a reflection of the days to come and hence a sign of why you
should stay away from the stock.
If you are looking for Stock Tips for Today, share market tips for your equity trading portfolio, then you have come to the right place. Money CapitalHeight Research Pvt.Ltd. is a Financial Advisory Firm Provides free trials in all the segments like Stock Tips, Mcx Tips, Stock Tips for Today Equity Tips, Intraday Tips,Nifty Tips Etc.visit www.capitalheight.com
No comments:
Post a Comment