12.07.

2018

Market commentary
After gap up opening from the previous day opening, the market has ended above
the 11000 level. The Sensex has managed to hold above the 36,500, while the
Nifty ended just above 11100-mark.The Sensex is up 282.48 points or 0.78% at
36,548.41, while the Nifty is also up 74.90 points or 0.68 at 11023.20. The market
breadth was positive as 1398 shares advanced, against a decline of 782 shares,
while 132 shares were unchanged. Reliance, BPCL, Bajaj Finance, Wipro and Bajaj
Finsv were the top gainers, while UPL, Vedanta, Bajaj Auto, Infosys and Grasim
lost were losers.
The index formed a Shooting star at Top on the daily
chart, suggesting that nifty will show correction from the top. The index will show
downside momentum after reaching its high and on RSI indicator it was showing
overbought condition. The trend is likely to remain negative.

Nifty Daily Chart

R2 R1 Pivot S1 S2
Nifty
11090 11019 11007 10936 10924
Stock to Watch for Friday
Cox & Kings Ltd
Hourly Chart

Technical Analysis
On the Hourly chart, Cox & kings Ltd. is moving above the trend line. It was given
breakout above the 219 resistance level with long bullish candle. The stock also
showing breakout of rounding bottom chart pattern on hourly chart. It also
showing morning doji star pattern with high reversal volatility. The stock may be
bought in the AROUND of Rs 221 for a target of Rs 227- 235, and a stop loss below
Rs 216.
The RSI also showing crossover on RSI indicator above 30
levels for more upside momentum. Stock showing move upside from the 30 days
moving average. On daily chart it shows double bottom pattern and expecting it
will go Rs 245.
Market Highlights

 The National Company Law Appellate Tribunal (NCLAT) today turned

down the plea of UK-based Liberty House to stay the resolution process
of Bhutan Power and Steel. A two-member bench of the appellate
tribunal.
 The share price of oil-to-telecom major Reliance Industries was on an
upward journey for the fifth consecutive day on Thursday, which helped it
become the second company to hit $100 billion market capitalization
after TCS in 2018. RIL had hit $100 billion market cap in 2008 as well,
when the rupee was around 40 to the dollar. The Mukesh Ambani-led
company's market capitalization stood at Rs 6, 85,736.98 crore at its
record price level and TCS at Rs 7, 54,612.17 crore. (One US dollar = Rs
68.64).
 Karnataka Bank has reported highest ever quarterly profit at Rs 163.2
crore, a growth of 22 percent over Rs 133.85 crore recorded is also
expecting growth. The HCL Technologies added 1.5 percent and on
Thursday board meeting for buyback of shares scheduled to be held on
July 12, 2018.
 The operator of Café Coffee Day gained around 3 percent in morning
trade after its subsidiary tied up with UberEats to distribute food
products. Shares of Fortis Healthcare rose 2.7 percent in the opening
trade on Thursday as company to consider fund raising. A meeting of the
board of directors of company shall be held on July 13 to consider and
approve raising funds through issue of securities on a preferential
allotment basis.
 The brokerage house expects Mphasis to report net profit at Rs. 238 crore
down 5% quarter-on-quarter (up 27.3% year-on-year).Net Sales are
expected to increase by 4 percent Q-o-Q (up 18.2 percent Y-o-Y) to Rs.
1,815 crore. The brokerage house expects Mindtree to report net profit at
Rs. 150 crore down 11.8% quarter-on-quarter (up 60.7% year-on-year).
Net Sales are expected to increase by 7.4 percent Q-o-Q (up 21.9 percent
Y-o-Y) to Rs. 1,572 crore.

3i Infotech Ltd. Adinath Exim Resources Ltd. Amal Ltd. Bajaj Corp Ltd. Biopac
Results India Corporation Ltd. Dhruv Estates Ltd. Infosys Ltd. TGV SRAAC Ltd.
Friday
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