Equity Market Fundamental Analysis Report

resMarket Wrap-up:

MARKET UPDATES.

After starting off the week on a negative note, Equity benchmarks continued southward journey. The Sensex ended at a fresh 18 month closing low while Nifty and Bank Nifty hits fresh 52- weeks low on caution ahead of third quarter earnings while worries over an uptick in December CPI (consumer price inflation) data for which will be released later today also weighed on sentiment.

HEADLINES:

  • Aviation stocks surged amid weak crude oil prices.
  • TCS tanks and hits 18-month low ahead of Q3 numbers.
  • Larsen & Toubro gains as secured new orders.
  • Bharti Infratel tanks on the back of block deal.
  • NTPC gains as plans power plants in AP (Andhra Pradesh).
  • JSW Steel quarterly Crude Steel production at 2.70 million tons.

STOCKS IN NEWS:

  • NIIT Technologies gains after the company has entered into an agreement with Ofcom for the provision of ICT services.
  • The Federal Bank today reported 38 percent tanks in Q3 net profit, stock dips and hits fresh low on NSE. Net profit stood at Rs 162.7 crore due to slow growth in net interest income and sharp fall in other income & operating profit.
  • IndusInd Bank Q3 net profit up 30 percent but higher provisions and tax expenses limited profit growth.  Net profit stood at Rs 581 crore from Rs 447.2 crore led by other income, operating profit and net interest income.
  • IDFC Bank tanks after acquiring 10 percent stake for about Rs. 8.5 crore in ASA International India.
  • Aurobindo Pharma gains after securing final approval from USFDA (the US Food & Drug Administration) to manufacture and market Norethindrone Acetate Tablets.
  • Tata Motors shares decline after the company declared its sales volumes for the month of December 2015.

STOCK RECOMMENDATION:

  1. 1.   KEC EQ.

 

KEC EQ tanks from its 100 DMA and closed around its near term support. Trend line and support breakouts could be seen in the coming session. Further, if able to sustain below this mark bears occurs. Sell below 137.30 targets 136/134.60/133.20 maintain SL of 138.70.

  1. 2.   ALANKIT EQ.

Alankit EQ gains and hits fresh high on NSE, more buying could be seen in stock as a big bullish candle for the second straight day indicates more buying from current levels. Above intraday chart is showing is near term resistance, i.e. of 72.60, and it seems to be moving towards its next resistance i.e. 73.90. Buy above 72.60 targets 73.30/74.05/74.80 SL 71.80.

NEWS TO WATCH OUT:

  • Watch out for the Quarterly numbers of Everest Ind, Reliance Ind Infra, Karur Vysya Bank Limited on Wednesday i.e. on 13th Jan 2016.
  • Watch out for the WPI Numbers [India Wholesale Price Index (WPI) Inflation (YoY)] on Thursday i.e. on 14th Jan 2016.

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