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

 Market Outlook:

• Indian markets are likely to open with gains and trade with a positive bias today.
• From Intraday perspective, Nifty likely to witness buying interest above 7484 for upside till 7520 / 7550 while selling pressure to emerge below 7420 for downside till 7340.

News Flow:

• TVS Motor Company Ltd has launched its new four-stroke moped, TVS XL 100, in the states of Andhra Pradesh (AP) and Telangana, priced at Rs 30,074 ex showroom.
• Vijaya Bank said it is planning to raise Rs 226 crore from allotment of equity shares to insurance major Life Insurance Corporation of India (LIC) on preferential basis.
• Yes Bank Ltd said it has acquired 5,00,750 equity shares of Institutional Investor Advisory Services (liAS), a proxy advisory firm, from BSE Ltd
• Sebi has given approval to diagnostic company Thyrocare Technologies to raise funds through an initial public offering.The company, which had filed its draft red herring prospectus (DRHP) with Sebi on December 31 for launching the IPO, received clearance from the regulator on February 24. Thyrocare will come out with a public issue of up to 10,744,708 equity shares.
• Maruti Suzuki India Ltd said that it will raise the prices of its passenger vehicles by up to 34,494 rupees, following the infrastructure cess imposed on automobiles in Union Budget 2016-2017.

Stock Idea:

Recommendation: Hindustan Zinc Ltd

Suggested Range: Buy around INR 170

Target: INR 183 / 190

Holding Period: upto 5 days

Stoploss: INR 161

Technical Rationale: Hindustan Zinc was trading in a narrow range since past one month. In this process it has formed a triangle pattern. In Thursday's trading session it has broken out of this triangle pattern on the upside. A triangle pattern is a trend continuation pattern and this breakout on the upside points to resumption of uptrend. The Daily momentum indicator RMO has completed it pullback cycle to the equilibrium line and has started to recover again also indicating that the consolidation is over and now should trade with a positive momentum. We expect the stock to trade with a positive bias and reach levels of 183 and 190 which are the previous swing highs. 

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