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Market Post Biggest Single Day Fall in Over 2 Weeks

Market Wrap-up:

Market post biggest single day fall in over 2 weeks;

Market extended ​its ​losing streak to ​the ​second consecutive session recorded their biggest single day percentage drop since November 18 2015 weighed down by FMCG, auto and select banking & financial stocks as well as Fed Chief Janet Yellen indicated that a December rate hike is likely.

HEADLINES:

  • Just Dial dips ahead of buyback; Goldman downgrades stock rating.
  • A Torrent Pharma gains after Credit Suisse raises target.
  • Bhushan Steel may get big amount through asset sale; stock gains.
  • Wipro plans to acquire cellent AG worth Euro 73.5 million.
  • Ajanta Pharma gains after launches anti-asthma tablets in US.
  • Dena Bank tanks on fund raising plan.

STOCKS WERE IN FOCUS:

  • Amtek auto surged more than 10 percent on NSE as company getting good response for its asset sale plan.
  • Aditya Birla Nuvo ends on a flat to negative note as Co divests 23 percent stake in the insurance joint venture for Rs 16.64 billion.
  • Bank of Baroda shares falls after government orders forensic probe into bank’s irregularities.
  • PVR tanks after receiving a letter from CCI. PVR may have to sell some of its screens in Delhi to get clearance for acquisition of DT Cinemas worth Rs.500 crore.
  • Hathway Cable moved higher by 12 percent on the back of huge trading volumes, stock opened at 42.80 and made high of 47.80 on the NSE.
  • Cipla gains in an early trades and ends on a negative note, despite on the positive reports that the company launches novel five in one anti-ageing skin care product Cutisera.
  • Havells India gains in an otherwise market on a block deal, Around 10 lakh shares were traded in a single block at Rs. 265.35.
  • Airtel, Vodafone, RCom, Paytm gear up to help flood-hit Chennai citizens with special offers.

                                                  TECHNICAL FRONT

DAILY CALLS:

  • Godfrey Phillips EQ hits fresh high on NSE in a negative market, stock gains in the first half of the trading day and consolidate for the rest day (which can be seen in below Intraday charts) more buying seen in stock if able to give breakouts and sustain above it. Buy above 1662.80 targets 1679.40/1696.20/1712.20 SL 1646.

  • GPPL EQ is heading towards its important support level if stock sustains below it more selling pressure could be seen, Sell below 155 targets 153.40/151.90/150.40 maintain SL of 156.70..

DAILY CALLS UPDATE as of 2/12/15:

  • CALL: 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.

UPDATE : BALRAMCHIN EQ BUY CALL DIDN’T EXECUTED.

  • CALL: 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.

 UPDATE : INTELLECT EQ BUY CALL SL TRIGGERED.

 Know More Market Updates Visit www.trifidresearch.com

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