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Global View
India Update
Today’s Event/ Stock in News
Private-sector lender, Kotak Mahindra Bank expects about 20 per cent growth in credit during the current fiscal, a senior
executive said. "This year we are aiming for 20 per cent growth. The credit off take (corporate) in recent past has been slow. But
as you see interest rates keep falling and you see some green shoots coming out in economy," Bank's Senior Executive Vice
President Virat Diwanji told media. "It is clearly a sign of some positive development in the external environment. And as a result
in the second half of the year we expect the demand from the corporate India to be really on the rise," Diwanji added. Last year,
the bank witnessed 14-15 per cent growth in the overall credit off take.
Technical Outlook : On daily chart, stock has been trading in a higher top higher bottom formation since last three months, and it
seems that stock is likely to continue its ongoing movement. Moreover, stock has given breakout of its all-time high which is
placed at 745 level with above average volume, which shows that further robust upside movement can be seen in next few
trading session. A momentum indicator RSI reading is at 71.05 level with positive crossover, which point out for positive breath in
the stock. So for trading perspective, one could Buy in the range of 760-765 for Target of 781 with SL of 752.
KOTAKBANK
IDBI
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Morning Tea
07th June 2016
Sell in the range of 64-65.5 for the Target of 62.50 with SL of 66.25
Buy in the range of 760-765 for the Target of 781 with SL of 752
Government is working on the stake sale of IDBI Bank and a decision in this regard could be taken during the current fiscal, its
Managing Director Kishor Kharat said on June 6. "There are many players. I have met almost 56 foreign players during QIP, 22
domestic players. There are no time lines drawn but if you look at the record of the government, whatever they say in previous
Budget, before going to next fiscal, they complete. So, from that you can draw some timeline," he said.
Technical Outlook : On daily chart, stock has been trading in a lower top lower bottom formation since last two months, and it
seems that stock is likely to continue its ongoing move. Moreover, stock has given close below its 50 day moving average which is
placed at 68.05 level, which shows that near to medium term trend is down. A momentum indicator RSI reading is at 44.40 level
with positive crossover, which point out for positive breath in the stock. So for trading perspective, one could Sell in the range of
64-65.50 for Target of 62.50 with SL of 66.25.
The S&P 500 closed at a 7-month high on Monday as Federal Reserve Chair Janet Yellen painted a mostly upbeat picture of the
economy but gave little sense of when a rate hike may be coming. Energy shares also boosted the market after oil ended higher
for a third straight session. The S&P energy index rose 2 percent, leading gains in the benchmark S&P 500. Yellen's remarks, which
were likely her last public comments before a policy meeting next week, followed Friday's dismal monthly jobs report, which
raised concerns over the ability of the economy to absorb a rate hike as early as June. Yellen called the jobs report
"disappointing," but said "one should not attach too much significance to a single report."
After a tepid trading yesterday, the market will be keenly waiting for Reserve Bank of India’s moves on Tuesday. The central bank
is set to announce second bi-monthly policy review today and economists are not expecting Governor Raghuram Rajan to make
any change in key interest rates. Bank stocks will be in focus. SGX Nifty indicates a positive open for Indian market. On Monday,
the 30-share BSE Sensex declined 65.58 points to 26777.45 and the 50-share NSE Nifty fell 19.75 points to 8201.05. The market
breadth was negative as about 1454 shares declined against 1177 advancing shares on Bombay Stock Exchange. In morning
trade, Asia stocks traded mixed with the Japanese benchmark index giving up initial gains as the yen nudged higher against the
dollar.
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Bulk Deal
SEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
07th June 2016
Security in Ban
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Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 3/6/2016 539311 NFIL ASHISHBHAI JITENDRABHAI JOSHI B 229175 11.24
2 3/6/2016 531574 VASINFRA SUNDEEP RAJPAL CHHABRA S 197200 15.50
3 3/6/2016 538772 M3GLOBAL AMI CHINTANKUMAR SHAH S 184854 2.75
4 3/6/2016 532767 GAYAPROJ SATPAL KHATTAR B 181882 577.50
5 3/6/2016 531574 VASINFRA MADHAV JAYESH VALIA B 128000 15.46
6 3/6/2016 531574 VASINFRA HIRAL MADHAV VALIA B 128000 15.50
7 3/6/2016 539311 NFIL SAJJAN DEVI ANJANA S 120000 11.04
8 3/6/2016 524622 ISTRNETWK DINESH SHAH S 119947 23.79
9 3/6/2016 524622 ISTRNETWK DINESH SHAH B 119947 23.43
10 3/6/2016 534680 SRGHFL ARYAMAN BROKING LIMITED S 116465 57.00
Corporate Action:
R Systems International Limited; Annual General Meeting
Result Calendar:
Corporate Action / Result Calendar
RCOM
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Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Kapil Shah Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
07th June 2016
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website