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

 Market Outlook:

• Indian markets are likely to open on a weak note and trade volatile today.
• From Intraday perspective, Nifty likely to witness buying interest above 8101 for potential upside till 8191 while selling pressure to emerge below 8043 for downside till 7950.

News Flow:

• Siemens said it has won an order worth approximately Rs. 570 crore to supply static synchronous compensator (STATCOM) solutions to Power Grid Corporation of India Ltd.
• Bharat Heavy Electricals Ltd said it has successfully commissioned two units of 14 MW each at Salma Hydro Electric Project (HEP) in Afghanistan.
• Asian Paints Ltd is investing around Rs 4,000 crore on setting up two manufacturing plants in Karnataka and Andhra Pradesh.
• Vijaya Bank said that it has received shareholders' approval to raise Rs 900 crore by issuing equity shares.
• National Hydroelectric Power Corporation is planning to set up a 600-MW solar power project at the Koyna hydel power complex in Maharashtra as part of an initiative to expand its solar portfolio.
• Jyoti Structures Ltd said that it has bagged a contract of USD 14 million from ESKOM, a South African electric utility.

Stock Idea:

Recommendation: Buy Pidilite Industries Ltd.

Suggested Range: Buy around INR 707

Target: INR 760

Holding Period: upto 10 days

Stop loss: INR 666

Technical Rationale: Pidilite Industries Ltd has been in an uptrend. Since past one month it was in the process of retracing the earlier rise from 583 to 725. It has taken support at the 38.2% Fibonacci retracement level (670) and the 40 day exponential moving average and has resumed its uptrend. The stochastic oscillator has also moved out of the oversold territory which is a bullish sign. We expect the stock to continue the positive momentum and reach levels of 760 which is the upper end of the channel in which it is trading.

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