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Stock Recommendations for March 25th-March 29th, 2019

  Stock Pick Observation Company City Union Bank The stock is trading in a strong higher top higher bottom chart structure and is witnessing an uptick in volume as the price trends higher. Tracking the daily chart, the stock has given bullish continuation Cup & Handle pattern breakout. It is showing strong momentum on MACD Histogram along with a good strength on the ADX Indicator, wherein the +DI line has crossed the 25 level and is trading above DI &…

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IDFC First Bank sells entire 8.37% stake in ARCIL

IDFC First Bank has sold its entire stake of 8.73% in Asset Reconstruction Company (India) Ltd, the bank said in the BSE filing. The announcement was made on Wednesday, March 20 after market hours. “The bank has sold the entire stake of 2.71cr equity shares of Rs10 each comprising approximately 8.37% of the Share Capital of Asset Reconstruction Company (India) Limited (Arcil) pursuant to Share Purchase Agreement,” the bank said. The share price of IDFC First Bank Ltd ended on Wednesday…

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Media, Oil stocks decline; IT stocks lead in today’s trade

Equity benchmark indices were trading higher on Wednesday amid global markets and rising crude oil prices. The most active stocks on NSE are Infosys, Reliance Industries, Jubilant, and Axis Bank. The Nifty Media index dropped 2% in early morning deals amid increased selling pressure were witnessed in Zee Entertainment Enterprises, Dish TV, UFO, Zee Media, and PVR. In the auto space, the index is trading lower at 8,538.30 level. Bharat Forge, Bajaj Auto, Eicher and Motherson Sumi were trading lower by 1% each. However, Exide Ind,…

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Sensex, Nifty extend gain; RCom surges 10%

Equity benchmark indices extended gains for the seventh consecutive trading session on Tuesday. However, immediately after marking an opening in the green, markets pared gains. The Sensex was trading 52 points up at 38,147 levels, while the Nifty gained 10 points at 11,473 levels, well below its key level of 11,500. ADAG stocks spurted with Reliance Communication gaining 10% followed by Reliance Capital, Reliance Power, and Reliance Naval and Engineering, which gained 5% each on the BSE. Shares spurted after Mukesh Ambani…

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Nifty Trading Tips@Embassy Office Parks REIT IPO opens today

The Indian rupee rose for the sixth consecutive day, and opened at 68.92/$, up 18 paise against the US #dollar. The sharp rally in the Indian rupee could be attributed to robust foreign inflows ahead of general elections.   The #currency has gained past 69 levels against the US dollar for the first time since August 10, 2018, in the early trade on Monday. Embassy Office Parks REIT (“Embassy REIT”), the first ever by a Real Estate Investment Trust in…

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Stock Recommendations for March 18th-March 22nd, 2019

Stock Pick Observation Company PC Jeweller The stock has given a sharp pullback after witnessing a strong rally since the start of the March series. The stock has formed a bearish Engulfing pattern on the daily chart along with an addition of fresh short positions, indicating a negative bias going into the next week. Recommendation Buy or Sell Sell ( Mar Futures) Range Rs  83.5-85.5 Target Rs  80 Stop Loss Rs  87 Duration 1 week 200 D-EMA Rs  112 NSE…

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Nifty PSU Bank gains 2% led by Canara Bank, PNB, Bank of Baroda

The Nifty PSU Bank index gained 2% on Friday amid heavy buying in Canara Bank, PNB, Bank of Baroda, SBI, and Oriental Bank of Commerce. Shares of Canara Bank, PNB, Bank of Baroda, SBI, Bank of India, and Oriental Bank of Commerce, which rose 2% each, led the index’s gain. Shares of Bank of India, Central Bank of India, Union Bank, J&K Bank, and IDBI Bank also contributed to the gain, rising 1% each. Shares of IDBI Bank gained after the Reserve Bank of India (RBI) classified the bank as private lender after Life…

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NIFTY FUTURE TIPS:- Nifty above 11,350 mark; Metal, media stocks surge

Equity benchmark indices opened higher for the fourth consecutive session, with the Bank Nifty hitting record high of 29,000-mark. In the broader market, the BSE MidCap index was trading 39 points higher at 15,166, while the BSE SmallCap index was ruling at 14,914, up 40 points. On the sectoral front, media, metal, banking, and realty were trading in the positive territory, while IT, FMCG, and auto indices were in the negative territory. The Sensex rose 126 points to 37,878 levels, while the Nifty was up…

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Rupee opens marginally lower at 69.74 per dollar

The Indian rupee opened marginally lower at 69.74 per dollar on Wednesday against previous close 69.70. The dollar-rupee March contract on the NSE was at 69.83 in the previous session. March contract open interest declined 2.12% in the previous session, said ICICIdirect in its report. We expect the USD-INR to find supports at higher levels. Utilise downsides in the pair to initiate long positions, it added. INTRADAY FUTURE TIPS

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Sensex rallies over 350 points; NTPC, Power Grid stocks lead

Equity benchmark indices opened higher for the second consecutive session led by gains in Reliance Industries, HDFC Bank, ICICI Bank, and L&T. Meanwhile, all eyes will be on macro data such as IIP for the month of January and the inflation rate for the month of February, which is scheduled to be released today. The Sensex rallied 351 points to 37,405, while the Nifty was up 98 points to 11,266. The market breadth was positive with 1,302 shares advancing, 284 shares declining, and 469 remaining unchanged on the…

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