Published on 27/11/2017 10:02:42 AM | Source: Religare Securities Ltd
The bulls continued to dominate as the benchmark indices ended on a strong note - Religare Sec
Nifty Outlook
The bulls continued to dominate, as the benchmark indices ended on a strong note, registering positive closing for seventh straight session. The broader market indices ‘BSE Midcap & BSE Smallcap’ also reported healthy gains. Barring Metals, which witnessed some profit taking, all the other sectoral indices closed in the green with Consumer Durables, Oil & Gas, Power & Healthcare being the top gainers. The global cues were positive with most of the European and Asian markets trading higher.
The underlying sentiments continue to remain positive. However, with indices trading near record highs and series of key events like GDP data, RBI monetary policy and state elections in Gujarat, lined up over the next 1-2 weeks, investors and traders should be cautious. While the start to the next week could be on a strong footing, indices could witness resistance at higher levels. Traders should keep their leveraged positions hedged, while investors should focus only on quality stocks.
News
* Zydus Cadila has received final approval from the USFSDA to market minocycline hydrochloride extended release tablets used to treat acne. The company will produce the drug at its formulations manufacturing facility in Moraiya in Ahmedabad.
* Reliance Marcellus II LLC, a subsidiary of Reliance Holding USA Inc. and Reliance Industries Ltd (RIL), has closed the sale of its interest in upstream Marcellus shale assets in north-eastern and central Pennsylvania for 126mn dollars. The assets are currently operated by Carrizo Oil and Gas Inc. and are being sold to BKV Chelsea LLC, an affiliate of Kalnin Ventures LLC.
* Edelweiss Financial Services has raised Rs. 1,527.8cr from several institutional investors through a qualified institutional placement (QIP). This is the first QIP by Edelweiss after it went public in December 2007.
Religare Super Ideas
Buy AXISBANK Ltd @ 540-544 Stoploss 526 Target 570 CMP 545.50.
Buy GSFC Ltd @ 141-142 Stoploss 137 Target 150 CMP 143.35.
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