Wednesday, 26 April 2017

Buy Asian Paints, Pidilite Industries, Axis Bank, upbeat on M&M; sell Jindal Steel & Power: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Asian Paints, Pidilite Industries and Axis Bank and sell Jindal Steel & Power while he is upbeat on M&M and downbeat on Tata Motors.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "There are buying opportunities everywhere. In my list NBFCs do not figure. I think there are other stocks which probably will give us better short-term swings. So, we start with Asian Paints. Two months of consolidation and a breakout yesterday, that breakout tells us that that stock is going to go much higher."

"We have Pidilite Industries. It was already on a roll, there was a small consolidation. Together with Asian Paints, a lot of FMCG stocks broke out yesterday, even Marico and Dabur India. So Pidilite is a buy for the same reason. There is a sector theme that is developing now. It was in a consolidation and the entire sector is breaking out," he said.

"We have Syndicate Bank. Yesterday, I had Union Bank of India. All PSU banks are giving very attractive charts. The charts are excellent."

"Mahindra & Mahindra (M&M) has been an underperformer. Yesterday after two months of consolidation, it also broke on the upside. I am fairly upbeat on M&M. I was reading that the electric cars will overcome the auto industry. Of course that is far away, but the theme is developing probably. So, I am very downbeat on Tata Motors and upbeat on M&M."

"There is a short sell on Jindal Steel & Power. That stock has had a rally, it then developed something called a broadening top, a very bearish formation which suggests that a significant decline is coming. However, broadly you should be with the market and stay long," he added.

"Axis Bank on the charts is suggesting a significant up move is coming. It is on the verge of a breakout. The numbers can do anything, but if I were just looking at the charts I would say buy now."
 www.Bigprofitbuzz.com

Tuesday, 25 April 2017

Market could lighten up before heading higher; buy secular growth stories: Experts

Go for secular growth stories, where earnings have been predictable and corporate governance standards have been good, says Dipan Mehta Member BSE & NSE.

Dissecting the behavior of the market, technical expect Ashwani Gujral of ashwanigujral.com says the trouble for market will come once 9000 level gets taken out and all those who looked at that level as sacrosanct will cut positions, which could lead the Nifty to the fifty-day moving average at 8750-8750.

The 30-share BSE Sensex down 317.77 points or 1.08 percent at 29,167.68 and the 50-share NSE Nifty falling 91.05 points or 1 percent to 9,030.45.

Any corrections to the fifty-day moving average is normal but in the process, a lot of bloodshed may happen because the market has got long positions on the wrong side. So, it is likely that levels of 8800 would come before 9500, he says in an interview to CNBC-TV18.

“The market could lighten up before it heads ahead,” says Gujral.

Moreover, the fact also remains that nobody wants to buy above 9000 because the earnings haven’t yet picked up. The global corrections could well shave off 200-300 points off Nifty but if there is good news then it could well take the Nifty up to 9500 in April.

When asked what should one look to buy in this market, Dipan Mehta Member BSE & NSE says one could look at retail NBFCs, private sector banks, consumer-oriented stocks in building material and appliances, select pharma, select exporters, auto ancillary – so the usual stocks that has performed well over the last 2-3 years.

One should look to enter on corrections into stocks where PEs that had gone to the levels of 2 or 1.75  have now corrected to 1.5.

So basically, go for secular growth stories, where earnings have been predictable and corporate governance standards have been good, says Mehta.

S P Tulsian sptulsian.com, Sanjiv Bhasin IIFL and Prakash Gaba prakashgaba.com also shared their views on specific stocks.

Wednesday, 19 April 2017

Market could lighten up before heading higher; buy secular growth stories: Experts

Go for secular growth stories, where earnings have been predictable and corporate governance standards have been good, says Dipan Mehta Member BSE & NSE.

Dissecting the behavior of the market, technical expect Ashwani Gujral of ashwanigujral.com says the trouble for market will come once 9000 level gets taken out and all those who looked at that level as sacrosanct will cut positions, which could lead the Nifty to the fifty-day moving average at 8750-8750.

The 30-share BSE Sensex down 317.77 points or 1.08 percent at 29,167.68 and the 50-share NSE Nifty falling 91.05 points or 1 percent to 9,030.45.

Any corrections to the fifty-day moving average is normal but in the process, a lot of bloodshed may happen because the market has got long positions on the wrong side. So, it is likely that levels of 8800 would come before 9500, he says in an interview to CNBC-TV18.

“The market could lighten up before it heads ahead,” says Gujral.

Moreover, the fact also remains that nobody wants to buy above 9000 because the earnings haven’t yet picked up. The global corrections could well shave off 200-300 points off Nifty but if there is good news then it could well take the Nifty up to 9500 in April.

When asked what should one look to buy in this market, Dipan Mehta Member BSE & NSE says one could look at retail NBFCs, private sector banks, consumer-oriented stocks in building material and appliances, select pharma, select exporters, auto ancillary – so the usual stocks that has performed well over the last 2-3 years.

One should look to enter on corrections into stocks where PEs that had gone to the levels of 2 or 1.75  have now corrected to 1.5.

So basically, go for secular growth stories, where earnings have been predictable and corporate governance standards have been good, says Mehta.

S P Tulsian sptulsian.com, Sanjiv Bhasin IIFL and Prakash Gaba prakashgaba.com also shared their views on specific stocks.
 www.Bigprofitbuzz.com

Tuesday, 18 April 2017

MCX board likely to reopen cases of siphoning of funds by employees

India's largest commodity bourse, Multi Commodity Exchange (MCX) is planning to open up its old, buried cases. The board - led by new chairman Saurabh Chandra - is mulling opening cases where its employees were involved and named in the forscenic audit report.

India's largest commodity bourse, Multi Commodity Exchange (MCX) is planning to reopen old cases related to allegations of siphoning of funds in connivance with employees of the exchange, a source aware of the development told Moneycontrol.

The board - led by new chairman Saurabh Chandra - is mulling reviewing cases where its employees were named in the forscenic audit report by PricewaterhouseCoopers (PwC).

“It appears that the board has asked the management to reopen the cases and help investigation agencies," the source said.

PricewaterhouseCoopers (PwC) had submitted an audit report on the case, which mentions incidences of siphoning of money and misgovernance in the exchange. The report also mention names of MCX employees involved in the dubious transactions.

In 2015, Ketan Shah, a shareholder in MCX and an investor in the products traded on the scam-tainted National Spot Exchange (NSEL), had filed complaint alleging that the MCX management and promoters had siphoned funds from MCX.

The MIDC police station had submitted its closure report on the case.

Shah has been arguing for a reopening of the case by the Metropolitan Magistrate's Court. The Metropolitan Magistrate's Court today ruled that MCX cannot intervene in the matter, but Shah could continue with his argument.


"Exchange may even open the case of Sunil Khairnar in which an excessive amount was paid in the name of some random research papers," said the source.

In the FTIL case, Khairnar had received about Rs 17 crore in donations from MCX in name of allegedly bogus research papers, but no investigation was initiated.

The Income-Tax Department has come across transactions money received as donation was routed back to the erstwhile promoters of MCX.

In 2015, the I-T had sent a notice to MCX on this issue.
www.Bigprofitbuzz.com 

Thursday, 13 April 2017

ITC, Infosys help Sensex gain 213 pts; Bank and Midcap at new closing high, up 1%

Midcaps extended rally Tuesday as investors started focusing on quarterly earnings season that will kick off by Infosys on April 13.

After three-day of consolidation with a negative bias, equity benchmarks gained strength despite mixed global cues Tuesday as investors started focusing on quarterly earnings season that will kick off by Infosys on April 13.

The 30-share BSE Sensex was up 212.61 points at 29,788.35 and the 50-share NSE Nifty rose 55.55 points to 9,237, backed by banking & financials, technology and FMCG stocks.

"The market needs sustainability above 9300 for further up move. Earnings season is also about to kick-start shortly thus we advise maintaining cautiously positive approach," Jayant Manglik, President of Religare Securities says.

The broader markets continued to outperform benchmarks, with the Nifty Midcap stood at record closing high with 1 percent gains. In fact, it has not only outperformed in last 12 months but also in the last five years.

Kotak Institutional Equities says midcaps have been consistent in multiplying investors' wealth over a period of time and are now trading in a bubble phase.

"We find valuations of several midcap stocks in our coverage universe very high. In fact, it would not be wrong to say that some are in the 'bubble' phase with the market extrapolating strong growth and high returns in perpetuity," it says.

Bank Nifty also participated in today's rally, gaining 1 percent on hopes of strong revival in fourth quarter earnings. Asset quality is also likely to improve further. All Nifty bank stocks except IndusInd Bank closed in the green.

ICICI Bank and SBI gained 1.9 percent and 1.6 percent, respectively. Yes Bank hit fresh record high, up nearly a percent. Rally in midcap banks also continued as Karnataka Bank and DCB Bank gained 10 percent each.

Infosys was up 1.5 percent ahead of March quarter earnings and commentary for FY18. A CNBC-TV18 poll expects a 3.7 percent decline in profit and 0.2 percent degrowth in dollar revenue on sequential basis.

ITC was the leading gainer among Sensex stocks, up more than 3 percent followed by L&T, Asian Paints and Bharti Airtel.

However, Adani Ports was biggest loser, down nearly 5 percent. Reliance Industries and Tata Motors also added some pressure, falling half a percent.

In broader space, Adani Power share price tanked 16 percent as investors turned cautious after Supreme Court set aside power regulator's order of higher tariff for the company and Tata Power (which was down 2 percent).

Market breadth was in a favour of advances with advance-decline ratio of 3:2.

Asian and European markets were mixed amid rising tensions in the Middle East and political uncertainty in Europe.

Wednesday, 12 April 2017

Indian Share Market Tips

Indian Share Market Tips

BSE changes Sensex 50 index methodology

Leading bourse BSE today said all constituents of Sensex 50 should have a derivative contract for inclusion in the index from June onwards.

Leading bourse BSE today said all constituents of Sensex 50 should have a derivative contract for inclusion in the index from June onwards.

S&P BSE Sensex 50 index was launched in December 2016 to measure the performance of the 50 largest BSE-listed firms.

Its constituents are selected from S&P BSE Large MidCap index and are weighted based on their float-adjusted market capitalisation.

As per the new methodology, "all constituents should have a derivative contract to be eligible for the index", the exchange said in a circular.

The index is operated by Asia Index -- an equal venture between S&P Dow Jones Indices LLC and BSE.

Currently, the individual float weight of any share class of a company, not linked to derivatives trading, cannot exceed 5 percent of Sensex 50 index.

The aggregate float weight of the index constituents, not linked to derivatives trading, cannot exceed 10 percent.

Friday, 7 April 2017

Market could lighten up before heading higher; buy secular growth stories: Experts

Go for secular growth stories, where earnings have been predictable and corporate governance standards have been good, says Dipan Mehta Member BSE & NSE.

Dissecting the behavior of the market, technical expect Ashwani Gujral of ashwanigujral.com says the trouble for market will come once 9000 level gets taken out and all those who looked at that level as sacrosanct will cut positions, which could lead the Nifty to the fifty-day moving average at 8750-8750.

The 30-share BSE Sensex down 317.77 points or 1.08 percent at 29,167.68 and the 50-share NSE Nifty falling 91.05 points or 1 percent to 9,030.45.

Any corrections to the fifty-day moving average is normal but in the process, a lot of bloodshed may happen because the market has got long positions on the wrong side. So, it is likely that levels of 8800 would come before 9500, he says in an interview to CNBC-TV18.

“The market could lighten up before it heads ahead,” says Gujral.

Moreover, the fact also remains that nobody wants to buy above 9000 because the earnings haven’t yet picked up. The global corrections could well shave off 200-300 points off Nifty but if there is good news then it could well take the Nifty up to 9500 in April.

When asked what should one look to buy in this market, Dipan Mehta Member BSE & NSE says one could look at retail NBFCs, private sector banks, consumer-oriented stocks in building material and appliances, select pharma, select exporters, auto ancillary – so the usual stocks that has performed well over the last 2-3 years.

One should look to enter on corrections into stocks where PEs that had gone to the levels of 2 or 1.75  have now corrected to 1.5.

So basically, go for secular growth stories, where earnings have been predictable and corporate governance standards have been good, says Mehta.

S P Tulsian sptulsian.com, Sanjiv Bhasin IIFL and Prakash Gaba prakashgaba.com also shared their views on specific stocks.
www.Bigprofitbuzz.com