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CAPITALSTARS – भारत में खरीदारी के लिए बेहतर हैं ये स्‍टॉक: 14 FEB 2020

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Morning news and update

Nifty opened with a positive bias and soon after opening, Nifty came under selling pressure. At one point, Nifty slipped below its prior bar low; however, Nifty witnessed recovery towards the end of the session and finally ended the day with a modest loss of 27 points or 0.22 per cent.

The price action formed a bear candle with a small lower shadow. This candle was placed beside the bullish candle formed on Wednesday. This indicates the inability of bulls to continue with follow through up move. The benchmark index Nifty is trading in a tight range since the last week. With three days of negative closing and two days of positive closing, Nifty is consolidating for the time being. It formed a bearish gravestone doji at resistance but negated with the next bullish move. Again on Thursday, it formed bearish candle. Even on last Friday, it formed a bearish engulfing pattern. As the market is undecided about the direction, these kinds of pattern failures confuse the traders. The 50-DMA support holds for the second day. The index reacted from the resistance point for the second consecutive day. The market breadth turned negative once again and the majority of the sectoral indices were closed in negative territory. Ten out of 12 Bank Nifty stocks closed in red. Bank Nifty faced resistance at 50-DMA for the second day and closed at a three-day low point. The Stochastic oscillator in Nifty and Bank Nifty reached to an extreme level and indicated a limited upside from now. Wednesday high of 12,232 will act as a crucial resistance for the time being. Though Nifty formed a hanging man pattern, the confirmation for a bearish move is required. Any close below 50-DMA, 12,126 will be a bearish sign. Watch the zone of 12,126-12,232 for a trending confirmation.

JAI Corp Ltd:

The board approved the discontinuation of Masterbatch and Dyeing Unit, disposal of land and building in Daman and approved deleveraging the balance sheet by divesting certain non-core assets. The proceeds from such sale would be re-invested in core areas as well as emerging areas, where there are growth opportunities.

BPCL:

The board of directors has accorded its approval to initiate the process of divestment of BPCL shareholding of 61.65 per cent in Numaligarh Refinery Ltd (Assam) as per the decision of Cabinet Committee on Economic Affairs (CCEA).

Avenue Supermarts:

The company promoters plan to sell 2.28 per cent stake via offer for the sale of shares. Promoters to sell up to 1.48 crore shares at a floor price of Rs 2,049 per share, has been announced for sale.

Mahindra & Mahindra:

The company clarified that the board of SsangYong Motor has approved a three years business plan which will lead to the profitability of the company in the year 2022.

Jindal Poly:

The board of directors considered and approved expansion plans for company’s India operation by way of investment of Rs 700 crore.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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