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

 Market Outlook:

• Indian markets are likely to open marginally negative and trade sideways today.
• From Intraday perspective, Nifty likely to witness buying interest above 8215 for potential upside till 8243 while selling pressure to emerge below 8134 for downside till 8061.

News Flow:

• Zydus Cadila has received the final approval from the USFDA to market Amantadine Hydrochloride Capsules USP, 100 mg
• Strides Shasun has said that it has received tentative approval from the US health regulator for Roflumilast tablets, used for the treatment of inflammatory conditions of the lungs.
• Dr. Reddy's Laboratories has said that its US subsidiary, Promius Pharma, LLC, U.S. has launched Sernivo (betamethasone dipropionate) Spray in the U.S.
• Vakrangee has announced a partnership with ARAMEX INDIA PRIVATE LIMITED (ARAMEX), a global provider of logistics and transportations solutions. With this, Vakrangee has added another essential and widely used service to the basket of services that are being offered through its retail outlets "Vakrangee Kendra"
• Foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest from the existing 49% up to 62% of the paid-up capital of Axis Bank under the Portfolio Investment Scheme (PIS).

Stock Idea:

Recommendation: Buy Idea Cellular Ltd.

Suggested Range: Buy around INR 118

Target: INR 125 and 128

Holding Period: upto 10 days

Stop loss: INR 111

Technical Rationale: Idea Cellular Ltd was in the process of retracing the previous rise from 98 to 128. It has found support around the 78.6% Fibonacci retracement level (105) and has resumed its uptrend. The daily momentum indicator RMO has triggered a positive crossover which is a buy signal. It has closed above the 20 and 40 day moving averages indicating short term positive momentum. We expect the positive momentum to continue and expect it to reach levels of 125 which is the 40 week moving average and above that 128 which are the previous swing high.

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