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Market Ends on a Flat Note Ahead of GDP Numbers and RBI Meets

Market Wrap-up:

Market ends on a flat note ahead of GDP numbers and RBI meets;

The Market started on a positive note as Moody’s said investment levels in India are showing early signs of recovery, but Market failed to sustain on the higher side due to profit booking saw in the banking and IT stocks. PSU bank index dips more than 2% as on the back of lending concerns.

HEADLINES:

  • Delta Corp dips more than 2% as received license for casino in Goa hotel.
  • Aviation stocks were in demand; Jet airways hit fresh high.
  • Banking shares tanks after RBI to issue base rate guidelines.
  • Jyoti Structures gain nearly 7 percent on the back of huge trading volume.
  • GMR Infra gains as company to raise capital.
  • Wockhard surged after successful inspection.

STOCKS WERE IN FOCUS:

  • Aurobindo Pharma gets nod for Dexamethasone Sodium Phosphate Injection from USFDA.
  • Thomas Cook ends on a flat to negative note as raising Rs. 125 crore through private placement basis.
  • Tata Steel shares moved higher as companies one of its Singapore arm avails USD 1.5 bn loan to repay debt.
  • Bajaj Auto today reported flat November sales number sold 309673 of 309255 units in the same month last year.
  • Jyoti Structures gain nearly 7 percent on the back of huge trading volume.
  • Ashoka Buildcon moved higher after getting last tranche of investment from Macquarie SBI.
  • Amtek Auto gains on the back of reports that company to cut its workforce by combining several operations to save costs even as they are constantly looking to reduce its huge debt burden.
  • NHPC reported that company today signs agreement with Teesta Urja; stock gains on this news.
  • Early Christmas for hotel stocks as today hotel stocks were in demand; Hotel Leela venture, Indian Hotel gains.
  • Bal Pharma gains and hits 10 percent upper circuit today on the back of huge volumes, stock opened at 126.10 and made high of 134 on the NSE.
  • The Great Eastern Shipping Company Limited i.e. GESHIP ends on a negative note, despite company signs contract to buy a Medium Range Product Tanker.

                                                  TECHNICAL FRONT

DAILY CALLS:

  • Balramchin EQ shown strength in a negative market, the stock has given breakouts of trend line which we can see in below daily charts. Trend Line breakout indicates more buying from current level. Buy above 77 targets 77.80/78.60/79.40 maintain SL of 76.

  • Intellect EQ saw a pullback near its support and gains for the second straight day more buying could be seen in stock. Buy above 294 targets 297/300/303 SL 290.90.

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