WEEKLY EQUITY NEWSLETTER
4TH AUGUST TO 9TH AUGUST 2019
Global stocks took another beating with investors offloading riskier equities and piling into safe-haven assets.
Global share markets recoiled overnight after U.S. Federal Reserve Chair Jerome Powell said Wednesdays easing was "not the beginning of a long series of rate cuts".
A foreign investor in the Indian property market has alleged in a complaint to Reserve Bank of India (RBI) that Yes Bank NSE -0.34 % and realty group HDIL have moved funds to evergreen loans.
The Indian stock market witnessed a vertical drop from the highs of 11,981 recorded on the Budget day to levels below 11,000 in just 19 sessions. This has pushed valuations of many quality stocks to attractive levels.
JK TYRE, It had reported a net profit of Rs 64.13 crore in the corresponding quarter last year. Total income of the company increased by 5.53 percent YoY to Rs 2,581.47 crore during the quarter under review. On the other hand, expenditure witnessed a rise of 10.94 percent YoY to Rs 2565.49 crore in Q1FY20.
Some sectors as Non-banking finance company (NBFC) sector is in deep distress, HDFC is likely to stand out when it reports its June quarter results for 2019-20 (Q1FY20) on Friday, August 2, analysts say. This, they believe, will be possible due to an improvement in assets under management (AUM) and a stable asset quality. On average, analysts see the housing finance company report up to 50 percent rise in the net profit (PAT) for the recently concluded quarter.
The countrys largest lender State Bank of India (SBI) is expected to see a turnaround performance in the June quarter of the financial year 2019-20 when it reports numbers on Friday, August 2. Analysts peg the net profit at Rs 5,934.5 crore as compared to a net loss of Rs 4,875.9 crore in the corresponding quarter of the previous fiscal (Q1FY19).
NIFTY TOP GAINERS/LOSERS
Recommendation: - Nifty is VOLATILE at SUPPORT, this is INFLUENCE AREA (11000-11100) OF SUPPORT and making BUY so maybe NIFTY BUY AROUND THIS SUPPORT AREA.
CALL: NIFTY BUY ABOVE 11130 TGT 11250 TGT 11350 TGT 11450 SL 10930
Recommendation: - Bank Nifty is VOLATILE at SUPPORT, this is INFLUENCE AREA( 29500-29650) OF SUPPORT and making BUY so maybe BANK NIFTY BUY AROUND THIS SUPPORT AREA.
CALL: BANK NIFTY BUY ABOVE 28690 TGT 28890 TGT 29090 TGT 29290 SL 28400
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION AJANTPHARM BUY ABOVE 955 TGT 980 TGT 1005 TGT 1030 SL 915
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY HDFC ABOVE 2130 TGT 2190 TGT 2250 TGT 2310 SL 2083
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