Top trading ideas by Tradebulls Securities: Buy V-Guard, sell TVS Motors

Nifty outlook and top trading ideas by Sacchitanand Uttekar, DVP – Technical (Equity), Tradebulls Securities:

Nifty Outlook:
Nifty has been crawling throughout the current month but has managed to keeps its float about 11,500 & inched higher towards 11,800 marks. Out of last 15 trading sessions it has witnessed 11 sessions with narrow ranged action with 7 Doji formations throughout the course.

V-GUARD
Reco: Buy
CMP: Rs 221.90
Fresh breakout from a continuation pattern indicates the ongoing upmove to remain constant. Also a sustained move & a close above its immediate highest CE OI congestion of 220 could derail the option writers confidence & provide further stimulus for the upmove. Expect the move to extend towards 228; hence the same could be participated with a trading stop below 217.

TVS MOTORS
Reco: SELL
CMP: Rs 558
Occurrence of Bearish Engulfing formation at the upper end of the declining channel formation could be a sign of exhausting pullback. Fresh shorts could be considered with a stop above 568 for an immediate swing towards the lower end of the pattern placed around 500.

Nifty outlook and top trading ideas by Prabhudas Lilladher

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher

NIFTY VIEW
Indices though in overbought zone continue to be in all-time high levels along with Bank Nifty. There is a possibility of market witnessing a sideways move to a consolidation at these levels with 11200 as a strong support level. The support for the day is seen at 11320 while resistance is seen at 11440. If the benchmark index is to take a breather, we would see some movement in mid-cap stocks.

BUY GREENPLY INDUSTRIES
CMP: Rs 218.35
TARGET: Rs 248
STOP LOSS: Rs 203
The stock has witnessed a huge erosion from the high made at 378 levels and has currently shown signs of bottoming out at around 195 - 198 levels and indicating a bounce back to make the chart look very attractive. The RSI also has turned its trend from the highly oversold zone and has signaled a buy to make the bias positive and has got potential to rise further in the coming days. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 248 keeping a stop loss of 203.

Emami, DLF, Zee Entertainment, TVS Motor, TV18 Broadcast hits 52-week high

STOCK MARKET - Shares of personal products company, Emami, realty firm, DLF, two-wheeler company, TVS Motor Company, broadcasting & cable TV operators, Zee Entertainment Enterprises and TV18 Broadcast are among 24 stocks from the S&P BSE 500 index that hot their respective 52-week high on the BSE in an otherwise subdued market.

Bajaj Electrical, Eveready Industries, PC Jeweller, Symphony, V-Guard Industries and Westlife Development from the consumer related sectors, too, hit 52-week high today.

TV18 Broadcast rallied 9% to Rs 55.10, extending its Friday’s 10% surge on the BSE on back of more than two-fold jump in trading volumes. A combined 49.7 million equity shares representing 2.9% of total equity of TV18 Broadcast have changed hands on the BSE and NSE till 01:23 PM.

On October 18, 2017, CARE Ratings, the credit rating agency, had assigned credit rating of CARE A+ to the TV18 Broadcast’s commercial paper programme aggregating to Rs 400 crore.

A strong parentage and the company’s ability to achieve  sustainable profitability while maintaining its leadership position remain the key rating sensitivities. Further, the ratings are also sensitive to the recovery in advertisement revenues post Goods and Services Tax (GST) implications, CARE said in a statement.

Emami hit its 52-week high of Rs 1,332, up 6%, is just 2.7% away from its all-time high of Rs 1,368 touched in August 5, 2015 in intra-day trade.

Since October 25, post September quarter results, the stock has outperformed the market by gaining 14% after the company posted a 49% surge in its net profit on a 10% rise in sales volume and a 7% increase in earnings.

“Post GST, the wholesale channels are yet to recover completely from the impact, which we expect to improve in the second half (October-March) of the year. International business is also back on track riding on the base effect of last year’s performance. The SAARC regions and Africa did particularly well,” said Mohan Goenka, director, Emami while announcing Q2 results.