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 7385 for upside till 7420  / 7450 while selling pressure to emerge below 7340 for downside till 7300 / 7250.

News Flow:

• Reliance Brands Ltd, a subsidiary of Reliance Industries Group along with Kate Spade & Company have announced that they are looking to bring the latter's New York brand to India via a long-term distribution and retail license agreement. As per the terms of the deal, Reliance Brands will have exclusive distribution rights to the Kate Spade New York Brand in India
• Zee Media Corporation Ltd announced that it is planning to foray into television shopping business for which it has acquired 80% equity stake in Today Merchandise Pvt Ltd and Today Retail Network Pvt Ltd for Rs. 166 crore.
• HCL Technologies (HCL) has signed a five year Next–Generation Information Technology Outsourcing contract with Husqvarna AB, a leading manufacturer of outdoor power products including robotic mowers, garden tractors, chainsaws and trimmers.
• Inox Wind Limited has bagged an order for a 20 MW wind power project to be set up at Nipaniya, Mandsaur in the state of Madhya Pradesh from PTC Energy Limited (PEL), a 100 per cent subsidiary of PTC India Limited.

Stock Idea:

Recommendation: Cipla Ltd

Suggested Range: Buy around INR 525

Target: INR 549 and INR 560

Holding Period: upto 5 days

Stoploss: INR 510

Technical Rationale: Cipla has been in a short term downtrend. It has found support around the 505 levels from where it has witnessed buying interest. Since past few trading sessions it was consolidating in a narrowing range. In terms of price pattern it has formed an Ending Diagonal pattern which has broken on the upside. In Wednesday's trading session it has also closed above the 20 and 40 hour moving averages indicating short term positive momentum. The hourly momentum indicator RMO sports a positive divergence and also bears 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 549 which is the previous swing high and above that it has the potential to rise to levels of 560 which is the 40 day exponential moving average.

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