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16.07.

2018

Market commentary
Today Nifty 50 index open flat note opening with the Nifty holding 11,000 in the
opening trade. Sharp selloff in the last hour dragged equity benchmarks lower on
Monday, with the Nifty ending below 10,950. The Sensex ended over 200 points
lower. The Sensex was down 217.86 points or 0.60% at 36323.77, while the Nifty
was down 82.00 points or 0.74% at 10936.90. The market breadth is negative as
554 shares advanced, against a decline of 2,042 shares, while 178 shares were
unchanged. Infosys, NTPC, and Tech Mahindra are the top gainers, while Tata
Steel, Sun Pharma, and Dr Reddy’s Laboratories have lost the most.
The nifty 50 index Major support for stands at 10,800.On
the higher side, 11,100-11,171 is a crucial hurdle zone to watch out for. If the
bulls manage to cross that region then we can look for significantly higher levels.

Nifty Daily Chart

R2 R1 Pivot S1 S2
Nifty
11128 11047 10830 10857 10759
Stock to Watch for Tuesday
Prabhat Dairy Ltd
Daily Chart

Technical Analysis
Prabhat Dairy recently witnessed a reversal in trend favoring upward momentum
after consolidating in multiple price range levels including a decline from 52-
weeks high over the last six months. The positive breakout seen on weekly basis
aided the scrip to form a long bullish candlestick pattern indicating a reversal in
trend at the current level. Buy recommendation for Prabhat Dairy which is
currently trading above Rs. 151 target is 159 – 165 levels stop loss below 140.50.

The prabhat dairy has a support at 128 levels and resistance level at 172. It
revered from that level to close above Rs 134 levels which is 200-days EMA levels.
Market Highlights
 The board of LIC, India's largest life insurer, on Monday approved the
proposal to acquire a majority stake in IDBI Bank. LIC, which held 7.98 per
cent stake in the bank as of June 30, would buy out 43 per cent more.
According to Sebi takeover code, an acquirer has to come out with an
open offer to shareholders of the target company on acquisition of shares
or voting rights of 25 per cent or more. But the deal in question may not
trigger an open offer.Most likely, LIC will increase stake in the bank via the
preferential share route. The state-owned insurer will now approach
market regulator Sebi for its nod to acquire the proposed stake in the
debt-ridden bank. Insurance regulator Irdai has already given its approval
to LIC to raise its stake to 51 per cent in IDBI Bank.
 Private lender ICICI Bank may be in the soup over myriad allegations from
inflating profits by at least $1.3 billion over eight years to delaying
provisioning of 31 NPA accounts and possible nepotism by Managing
Director and CEO Chanda Kochhar in giving loans to the Videocon Group,
but domestic mutual funds still love the stock. Indian fund managers rush
to hoard the stock in June after the lender instituted enquiries into the
alleged irregularities and Kochhar went on extended leave to facilitate the
probe. This made the risk-reward favorable on the counter after the stock
witnessed steady value erosion, as charges began to fly.
 HUL major Hindustan Unilever on Monday reported at 19.17 per cent YoY
jump in net profit at Rs 1,529 crore for the quarter ended June 30, 2018. It
had posted a net profit of Rs 1283 crore in the corresponding quarter last
year.ET NOW poll had predicted a net profit of Rs 1,525 crore. Revenue
from operations of the company increased 2.88 per cent YoY to Rs 9,356
crore in Q1FY19 over Rs 9094 crore in Q1FY18. Earnings per share of the
company increased to Rs 7.06 in June quarter from Rs 5.93 in the same
quarter last year.

Zee Entertainment Enterprises.Ashok Leyland. Federal Bank.Muthoot Capital


Results Services.8K Miles Software Services.Atishay Ltd.Crisil Ltd.Goa Carbons.Hindustan
Tuesday Media Ventures.ICICI Lombard General Insurance.Indian Metals & Ferro
Alloys.Integrated Capital Services.Jindal Stainless Ltd.Kumaka Industries.Nalin
Lease Finance.Nucleus Software Exports.Rallis India Ltd.Shri Dinesh Mills.Sintex
Industries.South Asian Enterprises.Tata Sponge Iron.Vantage Corporate Services.
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