WEEKLY EQUITY NEWSLETTER
2TH SEPTEMBER TO 6TH SEPTEMBER 2019
* Syndicate Bank, Indian Bank, Oriental Bank of Commerce NSE 8.48 % and Corporation Bank are some of the banks that have been called for the meeting, the report added.
*As public sector banks (PSBs) approach the deadline to reduce promoters stake to 75 %, they are reaching out to LIC, which in turn can subscribe to their shares to meet regulatory norms.
* European stocks continued to trade near one-month highs last week, helped by a surge in German real estate companies and on relief that trade tensions between the United States and China were easing.
* Around 94 stocks fell to touch their 52-week lows on NSE in last week.
Among the stocks that touched their 52-week lows were Adhunik Metaliks, Bank of Baroda, CESC Ventures, Compuage Infocom, De Nora India and Gujarat Industries Power Company.
* The company WIPRO expanded its strategic partnership with Google Cloud to accelerate cloud adoption and digital transformation for global enterprises. By collaborating with Google Cloud, Wipro will catalyse innovation for enterprises in industry verticals such as consumer goods, BFSI, semiconductor, and healthcare, through a business-first strategy.
*Hindalco Industries jumped almost 4 percent on August 30 after media reports said that the company-owned Novelis was set to secure European Union (EU) antitrust approval for its $2.6-billion bid for Aleris. Novelis, which is US-based but owned by India’s Hindalco Industries.
*Rupee opens marginally higher against US dollar amid dip in oil prices
*Glenmark Pharmaceuticals, USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Pimecrolimus Cream, 1%, a generic version of Elidel 1 Cream, 1%, of Bausch Health US, LLC, company said.
NIFTY TOP GAINERS/LOOSERS
Recommendation: - Nifty is VOLATILE at SUPPORT, this is INFLUENCE AREA (10900-11100) OF SUPPORT and making BUY so maybe NIFTY BUY ABOVE THE SUPPORT AREA.
CALL: NIFTY BUY ABOVE 11050 TGT 11150 TGT 11250 TGT 11350 SL 10900
BANK NIFTY FUT
Recommendation: - Bank Nifty is VOLATILE at SUPPORT, this is INFLUENCE AREA( 27300-27800) OF SUPPORT and making BUY so maybe BANK NIFTY BUY AROUND THIS SUPPORT AREA.
CALL: BANK NIFTY BUY ABOVE 27500 TGT 27800 TGT 28100 TGT 28400 SL 27100.
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION HINDPETRO BUY ABOVE 259 TGT 263 TGT 267 TGT 271 SL 255.50
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON MAKE REVERSAL FROM SUPPORT AND MAKING A BULLISH PATTEN, BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY ZEEL ABOVE 375 TGT 382 TGT 389 TGT 396 SL 369
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