Daily Market Report 27th May 2019

Domestic Market View

Nifty : Overall Nifty will try to be in range of 11600-11900, On upside if some Intraday rally is there then it will try to gain back 12k mark, But not so easy to sustain above 12k mark Heavy Resistance. Market is now in uncharted territory, I will wait till 2-3 June so that market will show us some more good chart. VIX Cool down so don’t expect any high fluctuations.

Bank Nifty : Expectation of .25 BPS rate cut in RBI Policy scheduled on 6th June, So Banks will try to digest this rate cut by rally upto 2-4% till 6th june. Bank nifty will try to touch 32500.

Global Market View

US market closed Flat, European Market closed with gain upto .50-.70%, Brent closed in Red, If Brent Sustain below $67 then good for emerging market.

Stocks Result

1. Bata : Normal Result, Mainly profit from “Higher Other Income” Result Link : Bata Result Board Recommends Dividend of  6.25 Rs Per share. (Subject to approval from shareholders).
2. IGL : Good Result, Result Link : IGL Result Board Announced Dividend of Rs 2.40 Per share.
3. Page Industries : Bad Result, Result Link : Page Result Board Announced Dividend of Rs 41 Per share.
4. Grasim : Normal Result, Result Link : Grasim Result  Board Announced Dividend of Rs 7 Per share.
5. Future Retail : Good Result, Result Link : Future Result No Dividend Announced.
6. MeghMani Organics : Good Result, Result Link : Meghmani Result  Board Recommends Dividend of Rs .40 paise Per share (Subject to approval from shareholders).

Stocks in News

1. ManPasand Beverages : MD and CFO arrested for GST fraud. Links Attached BSE Notice ,GST Department Notice.
2. Jet Airways: Naresh Goyal & Wife Stopped at Mumbai Airport, MCO and SFIO searching for Diversion of funds & Equity Mismatch.
3. Today Result : Gail, Adani Ports, Zeel, Oil India, Bhel, Colgate, Motherson sumi, Interglobe Aviation, Prestige Estate, Thomas Cook, Adani Gas, Emammi, Kaveri seeds, Mphasis.
4. Gail will be in news for Bonus Announcement.
5. OFS: Reliance Nippon OFS opens for Retail today, Rs 218 floor price.

Stocks For Buying

1. Federal Bank Good Breakout from Inverse Head & Shoulder, one can buy in range of 101-104 for target of 113-125, Holding time frame next 3-5 months minimum.

Stocks Near Breakout

1. KEC International: Daily chart Price Near Breakout above 316.
2. Suven Life Breakout a bit far away but add in watchlist, this will be good for long term.
3. SBI Daily, weekly Breakout done, Now waiting for Monthly Breakout
4. Andhra Sugar Daily chart Breakout near 400 Rs.  Good for medium term after Breakout.

8:10 PM SGX Nifty down by 32 points. Main focus on Page Industries Very bad Result it will open by 2-4% down, Manpasand Beverage will open down by 12-15% Better to exit this and save whatever you have (Garbage share).