Thursday, October 26, 2017

Market Pulse
Shilpi Cable Technologies Ltd hits another buyer freeze at Rs.21.45. Look for targets of Rs.29-31, if Rs.24 is taken out on the upside.

Exit Reliance Communications Ltd (Rs.15.85) on the rise, as it seems no positive trigger is working on the whole of the telecom sector; due to government of India's predatory policies.

Today, HDIL has touched Rs.57.25, intra-day. I had earlier mentioned that the scrip could make an attempt to cross the zone of Rs.57-57.50. Let us hope for the best.

Jai Balaji Industries Ltd hit another buyer freeze today at Rs.16.25. The stock has been hitting consecutive upper circuits since some time. Steel companies are going to benefit from government's massive road building program announced on 24 October 2017. In order to further optimise the efficiency of movement of goods and people across the country, government has launched a new umbrella program. This road building program, for 83,677 kilometers of roads, involves capex of Rs.6.92 lakh crore over next 5 years. Out of this, Bharatmala Pariyojana to be implemented with an outlay of Rs.5.35 lakh crore will generate 14.2 crore mandays of jobs.What is the target for Jai Balaji Industries?

If Unitech Ltd gives a close above Rs.6.30, which I think it will  as the market is highly charged, we can look for targets of Rs.8-9, in the coming days. Add on all declines. 

Future Enterprises Ltd (Rs.47.90) is going down everyday. It touched an intra-day low of Rs.48.45. After a sell call was suggested at Rs.54-55, it never crossed that levels. Its next downward target is Rs.46, breaking which it can come down to Rs.44 and then ultimately Rs.37.

Aban Offshore Ltd (Rs.191.70), today made a high of Rs.195.90. The stock could attempt to cross the resistance zone of Rs.195-198, this week.

One Free Call from my  Associated Brokerage House, BMA Wealth Creators Ltd: Intraday sell NICKEL around Rs.768, SL above Rs.778, T: Rs.755

The markets are going up, probably because the government has started to link Aadar Card even for bank transactions, making it difficult to do "Shady" real estate deals. Recently, the government announced that PSU banks or PSBs are scheduled to get booster a dose of Rs.2.11 lakh crore. The Non-performing assets of banks have increased from Rs.2.75 lakh crore in March 2015 to Rs.7.33 lakh crore as on June 2017 or more than double in just 2 years. 

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