Certified Kala Jadu, Black magic specialist in Rawalpindi and Bangali Amil ba...
Morning tea 11 08-2016
1. SEBI Certified – Research Analyst www.choiceindia.com
Global View
India Update
Today’s Event/ Stock in News
LenderstoJindalSteelandPower’s(JSPL)Mauritiussubsidiary areweighingtheir optionsafter thecompanymissedaninterestpaymentof
close to $5 million due early August. Banks told FE they learnt later from Avista Advisory — an independent investment banking advisory
company — that these shares had been pledged elsewhere, in lieu of a loan. JSPL is understood to have assured lenders there was no
intent to deprive lenders of their rights and that the pledge which had been created was an “imperfect” one with no legal binding. The
$550millionworthofloanshadbeendisbursedintwotranchesin2011and2012,lenderssaid.
Technical Outlook: Ondailychart, stockformedspinningtop candlestickwhichisabearishreversalformationasitappeared on the top
of trend.Moreover,amomentum indicator RSIreadingisat54.65 levelwithnegative crossover,whichpointout for negativebreathin the
stock.Sofortradingperspective,onecouldSellinrangeof80-81forTargetof75withSLof83.50
JINDALSTEL
ULTRACEMCO
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Morning Tea
11th Aug 2016
Buy in range of 3720-3728 for Target of 3805 with SL of 3680
Sell in range of 80-81 for Target of 75 with SL of 83.50
Ultratech Cements said fair trade regulator Competition Commission of India (CCI) has approved the merger of the cement maker with
Jaiprakash Associates Ltd (JAL), Jaypee Cement Corporation Ltd (JCCL). In March, Ultratech announced that it will acquire Jaypee Group's
cement plants in Madhya Pradesh, Uttar Pradesh, Uttarakhand, Himachal Pradesh and Andhra Pradesh with a total capacity of 21.20
milliontonnesperannumatanenterprisevalueofRs16,189crore..
Technical Outlook: On daily chart, stock has been trading in ahigher top higher bottom formation since last many days and it seems that
stock could likelyto continuewith its ongoing move. Moreover,stock hasbeen trading above its21 daymovingaveragewhichis placed at
3645 level, which shows that near term trend is up. A momentum indicator RSI reading is at 60.40 level, besides RSI reading is near to its
support of 60 marks, which point out for positive breath in the stock. So for trading perspective, one could Buy in range of 3720-3728 for
Targetof3805withSLof3680.
Asia markets opened lower on Thursday, following US losses, with sentiment likely driven by Wednesday's oil price falls and in
anticipationofanotherdatadelugefromChinaonFriday.InAustralia,thebenchmarkASX200wasdown0.74percentinearlytrade,
with the financials, energy and materials sub-indexes down between 0.6 and 1.13 percent. Major banking stocks sold off, with
shares of Commonwealth Bank of Australia down some 2.2 percent. New Zealand's NZX 50 was near flat at 7,342.43. In South
Korea, the Kospi traded 0.27 percent lower. Japanese markets were closed for the Mountain Day public holiday. The SGX Nifty
suggestsaflatopeningforourmarketsasitistradingat8594.50,Upby4.00points.
Wall Street retreated from record levels on Wednesday after a drop in oil prices pressured energy stocks, while shares of Walt
Disneysurgedonitsresultsandanacquisition.A rallysincelateJune has pushedtheS&P500 upmorethan6percentin2016aslow
interest rates encourage investors to buy US equities, although high valuations are of concern to many. The energy index fell 1.41
percent, hurt by a dropinoil prices after theUSgovernment reported asurprise crudestockpile build.ExxonMobillost1.75 percent
andwasthe biggest dragonthe S&P 500andtheDow. TheDow Jones industrial average declined0.2 percent to finishat 18,495.66
pointsandtheS&P500lost0.29percent,to2,175.49points.TheS&P500hashitfourrecordintradayhighsthismonth.
4. SEBI Certified – Research Analyst www.choiceindia.com
Contact Us
www.choiceindia.com
www.choiceindia.comcustomercare@choiceindia.com
Disclaimer
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial
instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in
any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but
Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the
information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast
future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations
issued by Choice Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on
information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility
or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without
notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended
purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may
be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is
strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current
performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee
against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock /
Instrument (s): - No.
SEBI Certified – Research Analyst www.choiceindia.com
Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Sr. Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Kapil Shah Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
11th Aug 2016
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Kunal Parmar
Digitally signed by Kunal Parmar
DN: cn=Kunal Parmar, o=Choice Equity
Broking Pvt Ltd., ou=Research Dept,
email=kunal.parmar@choiceindia.com, c=IN
Date: 2016.08.11 08:44:48 +05'30'
