Re: {LONGTERMINVESTORS} News & Misc. items - Thread

 Market Outlook:

• Indian markets are likely to open marginally negative; however, we expect it to recover and trade with a positive bias today.
• From Intraday perspective, Nifty likely to witness buying interest above 7053 for upside till 7100 / 7150 while selling pressure to emerge below 6985 for downside till 6869.

News Flow:

• DLF Ltd has awarded a contract worth Rs 800 crore to L&T for construction of its new office complex in Gurgaon. The 12-acre project would be developed at a cost of Rs 1,100 crore and has a total leaseable area of 2 million sq ft
• Life Insurance Corporation of India has increased its shareholding in the country's largest power producer NTPC by 3.90% to 12.98% from earlier stake of 9.08%, after buying 32.15 crore shares in the open market.
• The Suzlon Group has said that it has won its maiden order for 71.40MW wind power project from Gujarat Industries Power Company Ltd (GIPL), a leading Gujarat based public sector undertaking engaged in the business of electrical power generation.
• Aurobindo Pharma received tentative US FDA approval for Ritonavir tablet.
• Emami to invest Rs 500 crore to set up cement grinding unit in Kolkata.

Stock Idea:

Recommendation: DLF Ltd

Suggested Range: Buy around 87

Target: INR 92 / 95

Holding Period: upto 5 days

Stoploss: INR 83

Technical Rationale: DLF has been trading in a narrow range since past couple of weeks. In this process it has formed a triangle pattern. We expect the triangle to break on the upside. The relative strength index has triggered a positive crossover which is a bullish sign for the stock. We expect the stock to trade with a positive bias and reach levels of 92 which is the previous swing high and above that 95 which is the 40 day moving average.

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