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CAPITALSTARS – भारत में खरीदारी के लिए बेहतर हैं ये स्‍टॉक: 07 FEB 2020

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Morning news and update

Nifty ended in green for the fourth consecutive session on Thursday. The price action formed a spinning top like candle with higher high and higher low formation.

Nifty has retraced 61.8 per cent of the fall of January 20 to February 3 low, in just four days. This faster retracement is generally followed by a consolidation. There are a very few instances, where the V-shape recoveries are sustained for a longer period. The recent example is January 8 to January 14 rise of 444 points and consolidated. The spinning top is the first indication of tiredness in the V-shaped recovery. Interestingly, this spinning top candle formation is at 50-DMA and it has closed above it.

The MACD line is still below the signal line and zero line. RSI bounced sharply from 30 to above 52 levels. Now, it is important to sustain above 55-zone to continue the rally. Wait for a consolidation to take the fresh long positions as long as Nifty trades above the 12,030 mark. But any close below the prior bar low, will be a sign of weakening trend. For any short position, wait until it closes below the prior bar low. A close below 12,030 will be a confirmation for 12,161 levels as swing high. There is a higher probability of testing 11,950 levels again. It time to be cautious about the bullish bias.

Adani Transmission:-

Adani Electricity Mumbai Limited, the material subsidiary of Adani Transmission has priced the issuance of US$ 1.0 billion (equivalent to about Rs 7,100 crore) 10Y senior secured notes.

Wipro:-

The company wins a multi-year strategic IT deal from Marelli.

Bharti Airtel:-

The Department of Telecommunications (DOT) has conveyed that the schemes of arrangement, with respect to, the demerger of consumer mobile business of Tata Teleservices (Maharashtra) and Tata Teleservices have been taken on record.

Adani Enterprises:-

Airbus India signs aircraft services MoU with Adani Defence & Aerospace.

BEML:-

The company unveils latest products at DEFEXPO 2020.


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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