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

 Market Outlook:

• Indian markets are likely to open on a firm note and trade positive today.
• From Intraday perspective, Nifty likely to witness buying interest above 8370 for upside till 8400 / 8493 while selling pressure to emerge below 8210 for potential downside till 8240 / 8210

News Flow:

• The Reserve Bank of India has removed the almost seven year old restriction placed on foreign investors to buy shares in Punjab National Bank.
• South Indian Bank Ltd reported a significant growth of 45.6 % in its standalone net profit after tax at Rs 95.06 crore for the June quarter of FY 17.
• K Miles Software reported consolidated net profit of Rs 24.15 crore, up 150 % for the June quarter ended June 30. The company had reported a net profit of Rs 9.65 crore for the year-ago period
• Alembic Pharmaceuticals Ltd said that it has received the Establishment Inspection Report (EIR) from the US health regulator for the inspection carried out by them at it's Karakhadi API unit III in April, 2015.
• Cadila Healthcare Ltd said that its Moraiya manufacturing facility has received an Establishment Inspection Report (EIR) from the USFDA.

Stock Idea:

 

Recommendation: Buy Cipla Ltd

Suggested Range: Buy around INR 521

Target: INR 545 / 565

Holding Period: upto 10 days

Stop loss: INR 502

Technical Rationale: Cipla Ltd was trading in a downward sloping channel. It has broken out of that channel and has been sustaining above the channel which is a bullish sign for the stock. Prices are trading along the daily upper Bollinger band which is expanding indicating that the positive momentum shall continue on the upside. The daily momentum indicator RMO bears a positive crossover which is a Buy signal. We expect the stock to continue the positive momentum and reach levels of 545 which is the previous swing high and above that 565 which is the 38.2% Fibonacci retracement level of the fall from 745 to 457.

--
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at https://groups.google.com/group/longterminvestorsresearch.
For more options, visit https://groups.google.com/d/optout.