WEEKLY EQUITY NEWSLETTER
9TH SEPTEMBER TO 13TH SEPTEMBER 2019
Suzlon Energy withdrew an offer to repay about Rs 8,500 crore ($1.2 billion) to lenders after Vestas Wind Systems A/C, which was backing the proposal, pulled out of the debt-resolution plan, according to people familiar with the matter.
Indian state-run banks’ rupee debt is gaining as proposed mergers and capital injection by the government are set to bolster credit profiles of these lenders.
Chinas proposed new digital currency would bear some similarities to Facebooks Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank officer said
Effect of European stocks weeks upbeat signals on US-China trade talks and European politics wore off, with investors attention turning to US jobs data due later in the day.
Indiabulls Housing Finance crashed 9 per cent to Rs 406.20, hitting its fresh 52-week low, reports that a public interest litigation (PIL) has been filed against the company and its promoters in Delhi High Court on allegations of siphoning-off of funds.
The Indian rupee will not regain ground lost against the dollar in the coming year, according to strategists polled by Reuters, who believe a recent rollback of a surcharge on foreign investments will have no impact on the currency.
Datamatics Global Services added 11 percent prices after Bangalore International Airport (BIAL) selected the company as its digital transformation partner.
The stimulus provided by Finance Minister Nirmala Sitharaman, to revive the economy, failed to improve foreign investors (FIIs) sentiment, as they continued on their selling spree, withdrawing Rs 5,486.95 crore from the Indian equity market since August.
NIFTY TOP GAINERS/LOOSERS
Recommendation: - Nifty is VOLATILE at SUPPORT, this is INFLUENCE AREA (10850-11000) OF SUPPORT and making BUY so may be NIFTY BUY ABOVE THE SUPPORT AREA.
CALL: NIFTY BUY ABOVE 10940 TGT 11040 TGT 11140 TGT 11240 SL 10820
BANK NIFTY FUT
Recommendation: - Bank Nifty is VOLATILE at SUPPORT, this is INFLUENCE AREA( 27200-27500) OF SUPPORT and making BUY so maybe BANK NIFTY BUY AROUND THIS SUPPORT AREA.
CALL: BANK NIFTY BUY ABOVE 27250 TGT 27500 TGT 27750 TGT 28000.
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION TATASTEEL BUY ABOVE 255 TGT 260 TGT 265 TGT 270 SL 248
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON MAKE REVERSAL FROM SUPPORT AND MAKING A BULISH PATTEN, BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY COALINDIA ABOVE 198 TGT 202 TGT 206 TGT 210 SL 193.30
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