Browse Tag: Indian stock Market

Top 5 stocks to buy in a volatile market which can give up to 15% return in short term

The markets witnessed a sustained selling pressure throughout the trading day on Monday after opening but managed to hold above 10,300 levels. The recovery seen in the last hour of trade saw the Nifty regain half the losses and closed at 10,378, down by 0.7 percent for the day.

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Top 5 stocks to buy in a volatile market which can give up to 15% return on short-term

The index has formed a Bearish Belt hold type of candlestick pattern as opening and intraday were the same. After the last seven days of sideways price action, the index is showing signs of breakdown and resumption of downtrend with new closing low for the decline starting from its all-time high.

 The index closed below the rising support trendline originating from September 2017 low of 9,688 level. Also, the Nifty closed below 100-day moving which has been acting as support for the index.

The index is seeing supply pressure above 10,600 levels and is unable to sustain it. If Nifty sustains below 10,400 levels, the index is likely to see a continuation of the downtrend.

The next level for the index is seen at 10,170, and then at 10070 where 200-day moving average and November-December lows are seen. In Nifty options, strike price 10,400 calls witnessed a significant amount of open interest addition suggesting call writing activity.

Thus, the index immediate resistance is placed at 10,400-10,450 levels. For strength, the index should cross and sustain above 10650 levels on the tradable basis.

Here is a list of top 5 stocks which could give up to 15% return:

V-Guard Industries: BUY | CMP: Rs 234 | Stop loss: Rs 222| Target: Rs 270 | Return 15%

The stock is in long-term uptrend forming the higher top and higher bottom formation on its weekly chart. Last month, the stock hit an all-time high of Rs 250 on good volumes and price, and then corrected down to Rs 202 levels on below-average volumes; indicating market participants are holding on to the stock despite the decline.

The correction has taken support at 61.8 percent Fibonacci retracement of the rally from Rs 177 to Rs 250 levels. Also, the low coincides with a 200-day moving average indicates a strong support level and the stock has seen a strong bounce back from the previous level.

In the last four sessions stock has witnessed above average volumes and has moved higher – indicating buying participation in the stock, even in the current market scenario. Thus, the stock can be bought at current levels and on a dip to Rs 230 with a stop loss below Rs 222 for a target of Rs 270 levels.

United Breweries Limited: BUY | CMP: Rs 1,052| Stop loss: Rs 1,000 | Target: Rs 1,200 | Return 14%

The stock had touched a high of Rs 1,226 in April 2015 and then declined down to Rs 700 levels where it witnessed consolidation at lower levels and rallied back to Rs 1,200 levels.

The stock has been trading below Rs 1,200 levels and consolidating its gains for the last three months between Rs 1,200 and Rs 1,000 levels. In the process, the stock has formed a bullish cup and handle pattern on long-term charts.

Price has taken support at Rs 1,000 level i.e. lower end of the range and seen a bounce back. It has formed bullish engulfing candlestick pattern on the daily chart and closed above the previous day’s range.

The relative strength index (RSI) and Stochastic have given positive crossover with their averages suggesting reversal of short-term trend. Thus, the stock can be bought at current levels and on a dip to Rs 1,300 with a stop loss below Rs 1,000 for a target of Rs 1,200 levels.

InterGlobe Aviation Limited: BUY | CMP: Rs 1,282 | Stop loss: Rs 1,220 | Target: Rs 1,450 | Return 13%

The stock touched high of Rs 1,347 in August 2017 and then corrected down to Rs 1,022 levels. Since then the stock has been forming a higher low and closed above 78.2 percent after retracement of the fall.

Price has been consistently taking support at 200-day moving average and is moving higher – indicating that the long-term trend in the stock is up. For the last few months, the stock has been largely consolidating and now is closed at a six month high.

In the last seven sessions, the stock has consistently seen above average volumes with positive price action that indicates to a buying participation at even higher levels. ADX line, an indicator of trend strength has moved above neutral level reaffirming the strength in an uptrend.

Thus, the stock can be bought at current levels and on a dip to Rs 1,260 with a stop loss below Rs 1,220 for a target of Rs 1,450 levels.

Repco Home Finance Limited: SELL | CMP: Rs 537| Stop loss: Rs 560 | Target: Rs 480 | Return 11%

The stock has been in a decline mode for the last eight months. Last month’s pullback in the stock was unable to sustain above its 200-day moving average and price has continued to hit 52-week low confirming the downtrend.,

Last week, the stock witnessed a decline in high volume with follow-through price action yesterday. It has broken its pivotal low of Rs 549 and closed below. Thus, the stock can be sold at current levels and rising to Rs 545 with a stop loss of Rs 560 for a target of Rs 480 levels.

Power Finance Corporation: SELL | CMP: Rs 107 | Stop loss: Rs 112 | Target Rs 95 | Return 11%

The stock has seen a downtrend for last nine months and continues to hit new 52-week low. Recently, the stock price fell below 61.8 percent retracement level of the major up move from Rs 78 to Rs 169 levels which comes at Rs 113 levels.

Since then the price has been trading at lower levels for the last couple of weeks. Thus, the stock can be sold at the current level and on rising to Rs 109 with a stop loss of Rs 111 for a target of Rs 95.

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Punjab National Bank slumps for third straight day; hits 52-week low

Shares of Punjab National Bank continued to reel under pressure for the third consecutive day after the detection of Rs 11,400 crore fraud, slipping over 3 percent in morning trade on bourses.

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Punjab National Bank slumps for third straight day; hits 52-week low

Shares of Punjab National Bank continued to reel under pressure for the third consecutive day after the detection of Rs 11,400 crore fraud, slipping over 3 percent in morning trade on bourses.

The stock hit its 52-week low on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today after it opened on a bearish note and fell 3.27 percent to Rs 124.15 on BSE. Similarly, on NSE, the stock dropped to a low of Rs 123.40. Meanwhile, shares of PNB Housing too slipped 1.36 percent to a low of Rs 1,182.60.

A fortnight after the scam was first reported, PNB Chairman and Managing Director Sunil Mehta yesterday said it has the capability to recover the dues from Modi and promised to take action against all wrongdoers.

As the Enforcement Directorate conducted multiple searches at establishments linked to Modi, seizing diamonds, jewelry and gold worth Rs 5,100 crore and sealing six properties, the Finance Ministry said recovery would be made and nobody would be spared.

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Wall Street Rebounds but posts Worst week in Two Years

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The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.

US stocks ended a wild week with a burst of buying, pushing the S&P 500 up 1.5 percent on Friday, but still recorded their worst week in two years, and investors braced for more volatile trading days ahead.

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The sharp falls of the week confirmed the market was in a correction, down more than 10 percent from a Jan. 26 record high, and throwing the nearly nine-year bull market off course. The newly volatile market was shaken in part by rising bond yields, which led stock investors to rethink their positions after months of steady gains.

The S&P 500 ended the week nearly 9 percent below the all-time high set just two weeks ago.

On Friday alone, the S&P 500 swung from gains of up to 2.2 percent to declines of 1.9 percent, echoing the big swings of the past week. The Dow moved in a range of more than 1,000 points, a more modest change than on Monday when the Dow fell as much as nearly 1,600 points.

The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.

The technology was the best-performing group on Friday, with Microsoft Corp, Alphabet Inc and Facebook Inc giving the biggest individual boosts to the S&P 500. The energy was the lone major S&P sector to end negative as oil prices tumbled.

The benchmark S&P 500 fell 5.2 percent for the week, its biggest weekly percentage drop since January 2016. For the week, the sector that got hammered the most was energy.

Ninety-six S&P 500 stocks are down 20 percent or more from their own one-year highs.

The sharp selloff in recent days was kicked off by concerns over rising inflation and bond yields, sparked by last week’s January US jobs report.

Equities for years have looked relatively attractive compared to the low yields offered by bonds, but the rise in Treasury yields has diminished the allure of stocks, especially with stock valuations at historically expensive levels.

The yield on benchmark 10-year US Treasuries hovered around 2.85 percent after touching a four-year peak of 2.885 percent on Monday.

US fund investors sucked USD 23.9 billion out of the stock market in the latest week, marking the largest withdrawals from those funds on record, but bulls were still encouraged by strength in the global economy and solid US corporate earnings.

Also, the percentage of Main Street investors expecting stocks to fall reached a three-month high in the American Association of Individual Investors’ weekly survey.

During Friday’s session, the S&P 500 briefly broke below its 200-day moving average, a closely watched technical level, before rising.

The S&P 500 lost USD 2.49 trillion in market value from Jan. 26 through Thursday, according to S&P Dow Jones Indices.

Volatility remained high compared to recent months. The market’s main gauge of volatility, the CBOE Volatility Index, fell 4.4 to 29.06 on Friday but was still nearly three times the average level of the past year.

In the latest day of strong trading volume, about 12 billion shares changed hands in US exchanges on Friday, well above the 8.5 billion daily average over the last 20 sessions. It was the first time weekly volume eclipsed 50 billion since August 2015.

Advancing issues outnumbered declining ones on the NYSE by a 1.43-to-1 ratio; on Nasdaq, a 1.36-to-1 ratio favored advancers.

The S&P 500 posted no new 52-week highs and 47 new lows; the Nasdaq Composite recorded 17 new highs and 208 new lows.


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Indian Rupee opens higher at 64.29 per Dollar

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The spot USD-INR to trade in a range of 64.20-64.50 for the day, says Ripples Advisory Private Limited.

The Indian Rupee gained in the early trade on Monday. It has opened higher by 11 paise at 64.29 per Dollar versus 64.40 Friday.

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The Rupee will trade sideways for the day but a little recovery is possible towards 64.20.

Expected spot USD-INR to trade in a range of 64.20-64.50 for the day.

The US Dollar gained in Friday’s session putting it on track for its strongest week in nearly 15 months. Traders bought into the greenback in a week where equities were dominated by wild swings.

While the focus will continue to be on global markets in the aftermath of last week’s volatility, domestic bonds which have been relatively stable are expected to trade in a narrow range. Participants will await the retail inflation data for near-term cues although a further drop in crude prices can lend a positive bias.

The 10-year benchmark bond yield is likely to trade in a range of 7.46-7.51 percent today.


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Sensex rebounds 200 pts, Nifty above 10,500; SBI falls 4%, BOB up 4%

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NALCO, Oil India, Bata India, Sun TV Network, Marico and Amara Raja Batteries rallied 3-7 percent.

L&T shares gained more than 1 percent in the morning as its subsidiary L&T Hydrocarbon Engineering has signed a major field development EPC contract with Al Dhafra Petroleum Operations Company Limited, Abu Dhabi, UAE, with a value in excess of Rs 2,200 crore.

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Al Dhafra Petroleum is a joint venture between ADNOC and Korea National Oil Corporation (KNOC) and GS Energy, which is represented by Korean Abu Dhabi Oil Consortium (KADOC).

The scope of the contract includes engineering, procurement, construction & commissioning of flow lines, gathering facilities & pipelines to transfer crude oil & gas from Haliba fields to a processing facility at Asab and installation of 132 kV and 33 kV overhead electrical transmission lines to supply power.

Leading EPC player Reliance Infrastructure has bagged a Rs 567 crore order from the state-run power major National Thermal Power Corporation (NTPC) to build a flue gas Desulphurisation (FGD) plant at its 1500 MW (3 x 500 MW) power plant at Jhajjar in Haryana.

The scope of the work includes design, engineering, manufacture, erection and civil work, as well as testing and commissioning of the FGD system.

The Anil Ambani-run company’s EPC division had earlier emerged as L1 bidder amidst competition against leading EPC players including BHEL, L&T, and Mitsubishi Hitachi Power system.

The overall schedule for the project is 20 months from the date of the letter and will of approval being delivered for the first unit, with three months additional time each for the two subsequent units, the company said in a statement today.

Shares of Capacity Infraprojects gained 4 percent in the early trade on orders worth Rs 247.46 crore.

The orders include Tower -2 of a project at Hindustan Mills, Prabhadevi, MMR for client Twenty Five South Realty, The Wadhwa Group, worth Rs 156.46 crore.

The Tower – 1 of this project is already under execution by the company.

The second order is from Kalpataru Group of Rs 90.80 crore. This is the second order received from Kalpataru Group.

9:15 am Market Check: Benchmark indices, as well as broader markets, opened the truncated week sharply higher on Monday, driven by bargain hunting after sell-off last week.

The 30-share BSE Sensex was up 212.02 points at 34,217.78 and the 50-share NSE Nifty gained 69.10 points at 10,524.10.

About five shares advanced for every share falling on the BSE.

The nifty Midcap index was up over a percent.

NALCO, Oil India, Bata India, Sun TV Network, Marico and Amara Raja Batteries rallied 3-7 percent.

Manappuram Finance, Ashok Leyland, Cadila Healthcare and Capacity Infraprojects gained 2-5 percent. Suzlon Energy fell 3 percent.


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BUDGET 2018-19 | Deduction for senior citizens increased to Rs 50,000 for medical insurance

UNION BUDGET 2018-2019

>>FM Arun Jaitley: To propose next financial year health, education cess at 4%
>> FM Arun Jaitley: Increase in customs duty on mobile phones to 20% from 15%
>> FM Arun Jaitley: Propose to cut import duty on raw cashews to 2.5% from 5%
>> FM Arun Jaitley: Govt levies long-term capital gains tax of 10% for over Rs 1 lakh investments
>> FM Arun Jaitley: Deduction for senior citizens increased to Rs 50,000 for medical insurance


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BUDGET 2018-19 | FM Arun Jaitley: Aim to lower central govt debt-to-GDP ratio to 40%

UNION BUDGET 2018-2019

>> FM Arun Jaitley: No change in personal income tax structure.Standard deduction of Rs 40,000 for salaried taxpayers

>> FM Arun Jaitley: Corporate tax for companies up to Rs 250 cr revenue cut to 25%

>> FM Arun Jaitley: 100% tax deduction to companies with revenue of Rs 100 cr regard as farmer producers

>> FM Arun Jaitley: Aim to lower central govt debt-to-GDP ratio to 40%


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BUDGET 2018-19 | Divestment target Rs 80,000 crore for FY19

UNION BUDGET 2018-2019

>>FM Arun Jaitley: 85.51 lakh new taxpayers have filed returns for FY17 

>> FM Arun Jaitley: Total revised estimate of expenditure at Rs 21.57 lakh cr for current FY 

>>FM Arun Jaitley: FY18 revised estimate for fiscal deficit at 3.5% of GDP; FY19 fiscal deficit target at 3.3% of GDP

>>FM Arun Jaitley: PSU bank recap will allow banks to give additional lending of Rs 5 lakh crore

>>FM Arun Jaitley: Salary of President raised to Rs 5 lakh, Vice President to Rs 4 lakh, governor to Rs 3.5 lakh

>>FM Arun Jaitley: National Insurance, United India Insurance & Oriental Insurance to be merged, listed

>FM Arun Jaitley: Govt will evolve a scheme to assign a Unique ID for companies

>> FM Arun Jaitley: Divestment target Rs 80,000 crore for FY19


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UNION BUDGET 2018-19 LIVE UPDATES by Ripples Advisory

UNION BUDGET 2018

FM Arun Jaitley: Airport capacity to be raised 5 times to handle 1 bn passengers 

> FM Arun Jaitley: UDAN Scheme shall connect 56 unserved airports, 37 unserved helipads 

> FM Arun Jaitley: To allocate Rs 9,000 cr for 90 km of double-line tracks for Mumbai 

>> FM Arun Jaitley: To allocate Rs 17,000 cr for Bengaluru Metro Network, Rs 11,000 cr for Mumbai Rail network


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UNION BUDGET 2018-19 LIVE UPDATES by Ripples Advisory

UNION BUDGET2017-18

> FM Arun Jaitley: To allocate Rs 11,000 cr for Mumbai rail network 

> FM Arun Jaitley: Railway capex for FY19 at Rs 1.48 lakh cr 
>> FM Arun Jaitley: Projects worth Rs 2,350 cr under smart city mission completed 

> FM Arun Jaitley: Tourist facilities to be upgraded at 210 important monuments 

> FM Arun Jaitley: MSMEs sector gets Rs 3,794 crore in the form of capital support and interest subsidy 

>> FM Arun Jaitley: Out of 100 smart cities 99 cities have been selected with an outlay Rs 2.04 lakh crore


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