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1. 06.08.2018
Market commentary
Today the Nifty made fresh high hitting 11400 at the beginning of the session,
Bank Nifty opened 27899 and Sensex was also up 200 points at 37755 and made
new high. Indian rupee opened bit higher at 68.57 with respect to 68.61 on Friday
as the open interest in the dollar-rupee showed a positive growth 10%. All the
sectoral indices were in green indicating a bullish day on Monday. Meanwhile the
market took correction but recovered soon. And till the end of the session the
Nifty was approximately 26 point up at 11387, Bank Nifty up at 27956, Sensex 135
points up at 37691.
The Benchmarks index have maintained up trade on the higher
side, 11,370 – 11,390 is a strong supply zone and surpassing this zone will allow
Nifty to rally towards 11,500.
Nifty Daily Chart
NIFTY
R2 R1 Pivot S1 S2
11511 11447 11250 11027 10947

2. Stock to Watch for Tuesday
DCM SHRIRAM LIMITED LTD
Daily Chart
Technical Analysis
During the last months, the stock price finally came out of its congestion zone
which in technical terms can be interpreted as a breakout from the ‘ascending
chart pattern’. However, due to lack of follow up buying, the stock corrected a bit
towards the trend line support placed around Rs 279.As expected, the strong
buying emerged at lower levels, which validates this corrective move as a pullback
move and the stock would now possibly start a fresh leg of the rally.
Further, the weekly RSI at 63 signaled a buying regime at a current level along
with positive cues from MACD suggesting an upward shift. The stock buying
recommended around 350-352 levels target is 365 -378 levels stop loss below
337.

3. Market Highlights
 Resident Ram Nath Kovind has given his assent to a Bill that will deter
fugitive economic offenders from evading the legal process in India and
fleeing the country.
 The government will soon invite fresh bids for a 100 per cent stake sale in
Pawan Hans as ONGC is ready to sell its entire stake in the company, an
official said. Helicopter services provider Pawan Hans is a joint venture
between the government, which holds 51 per cent stake, and state-
owned ONGC, which owns the remaining 49 per cent. HDFC AMC listed at
approx. 60% premium.
 Shares of Britannia Industries gained 1.6 percent on the back of strong
June quarter numbers. The company has reported June quarter
consolidated profit growth of 19.4 percent year-on-year to Rs 258.1 crore
with double digit volume growth. Profit in the first quarter of last year
was at Rs 216.1 crore.
 HDFC Asset Management Company (HDFC AMC) took its strong market
debut forward as shares climbed 66 per cent to hit a high of Rs 1,832 on
the BSE today. The Rs 2,800-crore initial public offering (IPO) ran on July
25-27 and was subscribed 83 times. This was strikingly similar to the
response received by the issue of peer firm Reliance Nippon Asset
Management for its Rs 1,542 crore issue last year which had listed at 17
per cent premium.
Results
Tuesday
Adani Enterprises Ltd. Dalmia Industrial Development Ltd. Mahindra & Mahindra Ltd.
McDowell Holdings Ltd. Motherson Sumi Systems Ltd. Punjab National Bank. Sobha
Ltd. Thomas Cook (India) Ltd. TVS Motor Company Ltd. Adani Transmission Ltd. Au
Small Finance Bank Ltd. Bombay Dyeing & Manufacturing Company Ltd. Butterfly
Gandhimathi Appliances Ltd. Capital India Finance Ltd. Inox Wind Ltd.

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