WEEKLY EQUITY NEWSLETTER 03RD JUNE TO 7TH JUNE 2019
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The benchmark indices ended higher on Friday with Nifty ended above 11,600 level. At close, the Sensex was up 160.10 points at 38767.11, while Nifty was up 46.80 points at 11,643.50. About 1355 shares have advanced, 1138 shares declined, and 153 shares are unchanged.
Shares of IT major, Tata Consultancy Services (TCS) and Infosys ended flat ahead of their March quarter earnings to be released later today.
GAIL, ITC, Maruti Suzuki, Cipla and Zee Entertainment were among major top gainers on the Nifty, while losers were Indiabulls Housing Finance, IOC, Bajaj Finance, L&T and Tata Motors.
Among the sectors, auto and FMCG indices led the gainers with 1 percent gain followed by IT, pharma and bank. Sector is expected to be a challenging quarter, with volumes declining across segments, HDFC Securities said.
OEM’s have destocked inventory by lowering production to align with market demand, it added.
Retails have been impacted due to multiple factors including higher insurance cost, unseasonal weather as well as restricted finance availability, it said. Motherson Sumi Systems shares fell over a percent intraday after British investment firm HSBC maintained its buy call on the stock but slashed price target to Rs 170 from Rs 233 per share. Avenue Supermarts falls after Morgan Stanley initiates underweight, sees 24% downside Avenue Supermarts shares fell 1.5 percent in morning on April 12 after global brokerage house Morgan Stanley initiated coverage with underweight rating on the stock. Its target price for the stock stood at Rs 1,120 per share, implying 24 percent downside from current levels.
NIFTY TOP GAINERS/LOOSERS
Recommendation: - Nifty is down -23 point close at 11922. AROON INDICATOR shows buy single. So, trader can make their position buy above 12053 TG-12153 TG-12300 TG-12500 SL-11850
CNX BANK NIFTY
Recommendation: - Nifty bank down 110 point close at 31600.AROON INDICATOR shows buy single. So, trader can make their position BUY ABOVE 31815 TG-31965 TG-32165 TG-31465 SL-31600
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION ABOVE 1530 TG-1545 TG-1560 TG-1580
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION ABOVE 555 TG-562 TG-568 TG-575
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