BULLISH TATASTEEL FOR 11-15 JUN 2018

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MARKET SUMMARY OF 08 JUN 2018:

BSE Sensex closed lower by 19.41 points, or 0.05%, to 35,443.67, while the Nifty 50 ended unchanged 10,767.65, down 0.70 points, 0.01%. Meanwhile, BSE MidCap and SmallCap rose 0.42% and 0.58%, respectively.Among the sectoral indices on BSE, healthcare gained most at 3.62%, IT 0.77%, energy 0.75% and teck 0.73%.

Tata Steel has placed an aggressive bid of 6,000 crore to acquire Kolkata-based Usha Martin, a specialty steel producer with a production capacity of 1 million tonnes in Jamshedpur. The promoters of Usha Martin are selling the steel business to pare the Group’s debt.

“Tata Steel had a meeting with Usha Martin officials in Kolkata on Wednesday and in all probability they will outbid JSW Steel, which has placed a bid of 5,500 crore,” said sources close to the development.

BULLISH MOMENTUM CONTINUE ON 08 JUN 18

BUY  TATASTEEL ABOVE 605 TG 615,625 SL 585

MARKET SUMMARY OF 07 JUN 2018:

BSE Sensex and NSE’s Nifty 50 rose for a second straight day on Thursday led by gains in financial stocks a day after the Reserve Bank of India hiked key interest rates. RBI’s monetary policy committee voted unanimously to raise policy rates by 25 basis points to 6.25%, the first such hike in more than four years, as inflation concerns mounted.

 BSE Sensex closed higher by 284.20 points, or 0.81%, to 35,463.08, while the Nifty 50 rose 83.70 points, or 0.78%, to close at 10,768.35. Outperforming the benchmark, MidCap and SmallCap gained 1.40% and 1.96%, respectively.All the sectoral indices on BSE, except consumer durables, closed higher led by realty (2.77%), basic materials (1.61%), industrials (1.51%) and metal (1.44%).

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Monetary Policy positive: RBI raises repo rate by 25 bps

Bank stocks fell soon after the RBI’s Monetary Policy Committee  choose to hike its key policy rate, the repo rate, by 25 basis points to 6.25 per cent, in its second bi-monthly meeting for the fiscal.

Among Nifty Bank stocks, ICICI Bank was trading down by 0.83 per cent at Rs 281.75, HDFC Bank 0.76 per cent at Rs 2,048, Axis Bank 0.55 per cent at Rs 528 and YES Bank 0.52 per cent at Rs 335.

Sun Pharmaceutical Industries Ltd climbed as much as 2.5 per cent to Rs 485.35, and was among the top percentage gainers on the NSE index.

KEEP AN EYE ON RELINFRA ON 06 JUNE

sell RELINFRA below 414 TGT 408/400 SL 430

Market summary 05 JUNE 2018 : All the sectoral indices, except energy and FMCG, traded lower with telecom, power, capital goods, utilities losing most. Reliance, SBI, cipla and BAJFINANCE were top gainers, whereas zeel, Bharti Airtel, Yes Bank and idea, Justdial, PEL, BHEL , PFC were among the major gainers.

TOP GAINERS: CIPLA, BALRAMCHIN, TATAGLOBAL AND TATAPOWER, DCBBANK

MAJOR LOSERS: IDEA, RCOM, BIOCON AND IFCI , KPIT

                           

PEL CALL ROCKS :GIVEN ON 01 JUNE 2018

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Market summary 04 JUNE 2018 : MidCap and SmallCap declined 0.51% and 1.53%, respectively. Among the sectoral indices , energy was up 0.42%, metal 0.34% and healthcare 0.10%. Realty declined most at 2.24%, consumer durables 1.66%, power 1.54% and telecom 1.17%.HDFC Bank shares traded 2.89% lower at Rs2048. Lupin Ltd shares rose 1.43% to Rs773. Shares of public sector banks were trading lower. NSE’s Nifty PSU Bank Index fell 0.94% led by Bank of Baroda, which fell 4.05%, followed by IDBI Bank 1.57%, Oriental Bank 1.02% and SBI 0.82%.Shares of Dr. Reddy’s Laboratories Ltd rose 3% to Rs1,984 after the USFDA completed inspection at the company’s’s Srikakulam Plant with no observations.