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Friday, July 04, 2014

After Market Opening Chart Check
The Nifty moved in a range yesterday, after it pulled a gain on last Wednesday and closed with a nominal loss of 10 points. Nifty traded dull during all through the day after an initial volatility. It made a high of 7754 and low of 7707 and finally settled at 7715.
Nifty is now trading above 7700 and  hence a new uptrend seems to have resumed. Nifty is slowly moving towards an uncharted territory with no visible resistance. Long is a Hold with a SL of 7430. There was some selling in the small cap space yesterday, but today, the small cap index is marginally up along with the IT and Pharma indices. The investors are therefore, suggested to buy only good companies and keep holding. However, since India VIX is up more than 4%, you should keep your Stop Losses ready, in case of any short term fall.The Nifty (Spot) is now trading at 7690.
Resistance: N/A
Support: 7700 /  7680
The benchmark US indices ended firm on Thursday, with the Dow Jones breaching the 17000-mark for the first time on the back of higher-than-expected monthly jobs data.
Asian indices are trading flat to positive, on positive cues from the Wall Street overnight.
Fundamentally speaking, the domestic share indices are expect to cut their losses and close in the green on the positive optimism from easing of the crude oil prices by ~$4/bbl from their recent highs and taking cues from the positive trend in global markets. The Union Budget 2014-15, which is due on 10th July will provide further direction to the market.
Today's call
(i) Buy Radico Khaitan Ltd at Rs.13.50, T--Rs.140, SL--Rs.109. In this company the ace investor, Rakesh Jhunjhnwala  (RJ) is holding stake. Some of the scrips like A2Z Maintenance Engineering Services Ltd (Rs.21.90),  Shashun Pharma Ltd (Rs.160.70), etc where the RJ has stake are already in the Upper Circuits. In January, 2014, the big bull Rakesh Jhunjhunwala's firm Rare Enter purchased 6.85 lakh shares (0.5% stake) at price of Rs.167.75 a share. Therefore, the counter may witness upmove. The scrip has not taken part in the current rally in a major way, and hence there is opportunity to mint money. 
(ii) Those who have bought the shares of Western India Shipyard Ltd at  higher prices are suggested to average at around Rs.2.70-2.79. The scrip is on an uptrend on the Budget Optimism and could reach Rs.5, where you should book profits.
Important
(i)There are some optimism regarding 49% FDI in defense deals, and some of the stocks in this sector like Rolta Ltd (Rs.11.7.5) is already buzzing. Even Avantel Ltd (Rs.78) is showing some upward momentum. However, the scrip have already move up much on this optimism and hence it would be prudent to buy the scrip (if at all you think to play on this story), only in declines. 
(ii) The debt ridden Lanco Infratec Ltd (Rs.12.12) is in talks with some strategic investors for selling stake in its thermal projects, and due diligence for the same is in process.  
(iii) Network18 Media and Investments Ltd founder Raghav Bahl, who resigned on May 29, 2014 after Reliance Industries Ltd took control of the company, is likely to return as a director.
(iv) Hatsun Agro Product Ltd (Rs.276) commenced commercial production at dairy plant in Poolam village in Tirunelveli with effect from Jul 1, 2014.
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