Monday, October 16, 2017

Market Pulse
Shilpi Cable Technologies Ltd recommend on last Friday at around Rs.17, hit another buyer freeze at Rs.18.70. Where is the stock heading? Join the Premium Service and get 24x7 assistance over Whatsapp, E-mail and even through Mobile phones. I will recommend another such stock either before Deepawali or next week. Those who will opt to trade through my associated brokerage house BMA Wealth Creators Ltd with a minimum portfolio size of Rs.1 lakh, will get the name of that scrip, which is also likely to cover the cost of your Premium Subscription (if you are not interested to trade through my recommended brokerage house), if you invest Rs.1 lakh in that stock. 

Energy Development Company Ltd today touched  an intra-day high of Rs.23.50 and intra-day low of Rs.21. It is now trading at around Rs.22.55. As long as the scrip does not break Rs.21.60 on closing basis, there is no cause of worry for the bulls. 

Gitanjali Gems Ltd today touched Rs.70.90 intra-day and is now trading at around Rs.69.85. The traders are suggested to exit the scrip, as the jewelry demand has fallen by 30% according to the latest media report. You can shift to HDIL at the CMP of Rs.55.65. 

Those who are holding the stock of Reliance Power Ltd (Rs.40.55) from Rs.39-40 onwards are suggested to sell the scrip on rallies and enter or Idea Cellular at Rs.81 for targets of Rs.87-91.

A strong sell call of booking profit, was given on the scam tainted Prakash Industries Ltd at Rs.138, on last Friday on the rationale that it will find a very strong resistance at around Rs.142-143. The stock today made an intra-day high of Rs.141.50, intra-day low of Rs.132.30 and is now trading at Rs.135.50. Hope you could make money in this free call of mine.

Reliance Naval Engineering Ltd (Rs.51.20 today crashed to Rs.50.45, intra-day, after a sell call was initiated on the counter last Friday at around Rs.53. The company did not come up with good set of numbers for the September, 2017 quarters. You should exit the scrip.

Brokerage Call: T+1/BTST: Buy Cipla Ltd at around Rs.605-606, SL: Rs.596, T: Rs.622...

On the macro front, India's merchandise exports rose by 25.67% to $28.61 billion in September 2017 over September 2016, helping the trade deficit narrow to $8.98 billion, the data released by the government after market hours on Friday, 13 October 2017 showed.

The International Monetary Fund (IMF) Chief Christine Lagarde reportedly said that the Indian economy is on a solid growth track in the medium and long term due to the structural reforms undertaken by the government, and the current slowdown due to implementation of the goods & services tax (GST) and demonetisation is short term. The IMF has last week lowered India's growth forecast for 2017-18 to 6.7% from its earlier estimate of 7.2%, citing lingering impact of demonetisation and transition cost to GST.

Stock markets remain closed on Thursday, 19 October 2017 on account of Diwali Laxmi Pujan and again on Friday, 20 October 2017 on account of Diwali Balipratipada. However, markets will remain open for Muhurat trading on Thursday, 19 October 2017. The Muhurat trading session on account of Diwali Laxmi Pujan will be held between 18:30 IST and 19:30 IST on Thursday, 19 October 2017. I wish you and  your family/friends, a very Happy Deepawali.
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