Tuesday, December 05, 2017

Market Pulse
Key benchmark indices were trading lower in mid-morning trade, tracking negative cues in other Asian stocks. At present the barometer index, the S&P BSE Sensex, is trading at 32,749 down 120.72 points (-0.37%). The Nifty 50 index is trading at 10,094.95 down 32.80 points. Cement shares declined. Most pharmaceutical shares declined.

The key indices trimmed losses after hitting fresh intraday low in morning trade. The Sensex hit a six-week low and the Nifty hit its lowest intraday level in almost 8 weeks in morning trade.

Among secondary barometers, the BSE Mid-Cap index was down 0.16%. The decline in this index was lower than the Sensex's decline in percentage terms. The BSE Small-Cap index was down 0.42%. The decline in this index was higher than the Sensex's decline in percentage terms.

The market breadth, indicating the overall health of the market, was weak. On BSE, 1,504 shares fell and 815 shares rose. A total of 123 shares were unchanged.

Alphageo (India) fell 2.23% after the company reported consolidated net loss of Rs 3.37 crore in Q2 September 2017 compared with net loss of Rs 3.58 crore in Q2 September 2016. Net sales jumped 246.3% to Rs 21.3 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 4 December 2017.

On the macro front, data released today, 5 December 2017, showed that the Nikkei India services Purchasing Managers' Index, or PMI, dipped into negative territory in November. The seasonally adjusted business activity index stood at 48.5 in November, off from 51.7 in October. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

Overseas, most Asian shares were trading lower as technology shares mirrored a sell-off in US tech companies.

In US, the Dow closed at a record as investors cheered the weekend passage of the Senate version of a sweeping overhaul of the US tax code. However, the S&P 500 and the Nasdaq finished lower as large-capitalization technology stocks took a beating. The Dow Jones Industrial Average added 0.2%. The S&P 500 shed 0.1%. The Nasdaq Composite Index fell 1.1%.

#Among my recently recommended counters, Jai Balaji Industries Ltd (Rs.19.10) and Videocon Industries Ltd (17.70) hit their respective BUYER FREEZES, today also....both these scrip has been repeatedly recommended in this blog, for short term gains.

#Yesterday's Call Simplex Projects Ltd is consolidating around Rs.40.40-41 ranges. In the next budget the NDA government is likely to give more focus on agriculture and infrastructure sectors. You should keep accumulating in Intra-day dips. This stock generally gives good returns over a period.

#Buy MT Eudcare Ltd (Mahesh Tutorials), a well known name among the coaching centres in Mumbai. "Subhash Chandra-controlled Zee Learn is in talks with MT Educare, a Mumbai-based company that runs the popular Mahesh Tutorials coaching classes, to buy a controlling stake in the company, in a growing sign that a wave of fresh capital is triggering larger consolidation in the educational services space," The Economic Times said quoting multiple sources. Earlier, Visa Capital bought 2.50 lakh shares or 0.6% equity stake at Rs.68.05 each. The BSE group 'B' stock of face value Rs.10 has touched a 52 week high of Rs.139.4 on 25-Jan-2017 and a 52 week low of Rs.53 on 17-Nov-2017. The promoters' holding in the company stood at 42.78 % while Institutions and Non-Institutions held 7.89% and 49.33% respectively. The stock is currently trading above its 200D SMA. You can buy the scrip at around Rs.75 for short term targets of Rs.91-92. SL: Rs.71. Exit the scrip  near Rs.73.

#Those who are still holding Subex Ltd (Rs.8.40) should keep a SL at Rs.7.50. The company is doing fine, but since it has a huge equity and almost 100% free float it might take sometime for the stock to give some meaningful returns to the investors.

#Buy SRF Ltd on intra-day declines around Rs.1815, SL: Rs.1789, T: Rs.1865 on T+2 basis. The chemical firm SRF Ltd recently announced setting up of a plant with an investment of Rs.356 crore. Short term traders exit with a small profit at around Rs.1830. Call Closed.

#Aggressive Traders can Buy NIFTY Futures at around 10125,  SL below 10090, T: 10175. Target Achieved at 10175. Call Closed.

#Bank Nifty covered call strategy: Buy Bank Nifty Futures and simultaneously Sell Bank Nifty 28DEC2017 25400CE; Gradually Book Profit around CMP (Approximately Rs.4320 per lot profit). Ignore this call.

#In case the covered call strategy looks complex then normal traders can Buy BANK NIFTY Futures at around 25190, SL below 2504, T: 25350. Ignore this call. 

#Buy the scrip of Jet Airways Ltd at around Rs.664-665, SL below Rs.650, T: Rs.685 on T+1 basis. Book Profit around Rs.675.

~~ with inputs from Capital Market - Live News..
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