Nifty 8678 /Sensex 28050/ Bank Nifty 19495
46 Advances / 5 Declines/ 0 Unchanged
“Sensex up 521 pts on short covering, global mkts; ICICI zooms 5%”
Bulls staged a strong comeback on Tuesday as the Sensex surged more than 500 points to surpass psychological 28000-mark, driven by global cues. Short covering and value buying in index heavyweights also lifted the market higher.
The 30-share BSE Sensex was up 520.91 points or 1.89 percent at 28050.88 and the 50-share NSE Nifty jumped 157.50 points or 1.85 percent to 8677.90. The broader markets also traded in line with benchmarks as the BSE Midcap rallied 1.9 percent on strong breadth. About 1903 shares advanced against 930 declining shares on the exchange.
Outcome from the GST event is likely to be positive; the market expects that the government will arrive at a consensus on the GST rate and provide a support to the trend.
Endurance Technologies to list shares on today
Auto components maker Endurance Technologies is set to list its equity shares on exchanges on October 19. It has fixed issue price at the higher end of price band of Rs 467-472 per share.
The issue, which opened for subscription during October 5-7, oversubscribed 43.84 times. The reserved portion of qualified institutional buyers oversubscribed 53.43 times and non-institutional investors 127.07 times.
BUY or NOT!!
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Our recommendations
Our Call To buy Tata Steel (FUT) above 420.Our call proved great as it flared and made high of 426.45 before settling at 426.30 on closing. We Booked full profit at 425.
[Profit of Rs 10000 on 1 Lot]
Our Call To Buy KSCL (Fut) around 428--427 proved great as it flared and made High of 439.30 before settling at 436.45 on closing. We Booked part profit at 436.
[Profit of Rs 13500 on 1 Lot]
Our Call To Buy Maruti 5550 PE (Option) around 50 proved great as it flared and made High of 68.25 before settling at 43.95 on closing. We Booked full profit around 60.
[Profit of Rs 1500 on 1 Lot]
Our Call To buy SunTeck (Cash) above 276 proved great as it flared and made high 287.50 before settling at 285.50 on closing. We Booked full profit at 482+
[Return of 1.26% in 2 days]
KPIT Result 19th October 2016
Expectation : KPIT Tech Q2 PAT seen down 14.4% at Rs 47.1 cr: Motilal Oswal
-Net Sales are expected to increase by 0.1 percent Q-o-Q (down 1 percent Y-o-Y) to Rs 803.9 crore, according to Motilal Oswal.
-Motilal Oswal has come out with its second quarter (July-September) earnings estimates for the technology sector. The brokerage house expects KPIT Tech to report net profit at Rs 47.1 crore, down 14.4 percent quarter-on-quarter. Net Sales are expected to increase by 0.1 percent Q-o-Q (down 1 percent Y-o-Y) to Rs 803.9 crore, according to Motilal Oswal.
-Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 3.9 percent Q-o-Q (down 21.5 percent Y-o-Y) to Rs 88.9 crore.
Technical levels of KPIT
KPIT has support at 125 and resistance at 132.
Break and sustain above 132 will take to 136---139+++ mark else it could test its support level of 125 again.
Further downside panic will see only close below 125 mark.
Trade with levels only
Now what to expect??
Nifty levels
Yesterday we have seen sharp upside move in it. Above 8690 will see more upside move till 8750---8780 and then to 8850++ mark in days to come.
Any sharp downside panic will be good buying opportunity in it.
8450 act as major support or you can say stop loss.
Today's Top Pick
Banking stock are on reversal mode.
Albk..... Above 76. Catch it. We will see sharp upside move till 82---85+++ mark
Support seen at 73.00
More will update soon!!
