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11.07.2018

Market commentary After trading largely around flat lines, with bouts of a rally, the market has ended the day on a flat note. The Sensex has managed to hold 36,000, while the Nifty ended just below 10,950-mark.The Sensex is down 21.43 points or 0.06% at 36218.19, while the Nifty is down 1.40 points or 0.01% at 10945.90. The market breadth was negative as 1034 shares advanced, against a decline of 1538 shares, while 160 shares were unchanged. TCS, Bajaj Auto, and Bharti Infratel were the top gainers, while Coal India, Vedanta, and UPL lost the most. The index formed a Spinning Top candle on the daily chart, suggesting indecisiveness among traders. That said, the index continued to form higher highs and higher lows, and as long as it defends the 10,880 level, the trend is likely to remain positive.

Nifty Daily Chart

R2

R1

Pivot

S1

S2

11121

10024

10871

10700

10589

Nifty


Stock to Watch for Thursday Relaxo Footware Ltd Daily Chart

Technical Analysis On the daily chart, Relaxo Footwear Ltd. is on the verge of a breakout from an Ascending Triangle pattern. A sustained trade above Rs 740 will trigger a breakout which can extend the uptrend. Further, on the weekly chart, it continues to form higher highs and higher lows affirming strong bullishness dominant in the stock.The Relaxo Footwear stock may be bought in the AROUND of Rs 740-750 for a target of Rs 770-800, and a stop loss below Rs 700. The RSI has turned upwards after forming a double bottom suggesting extended bullishness in the coming trading sessions.


Market Highlights  It was conducted on July 9-10, National Stock Exchange (NSE) said in a statement. A disaster recovery site is necessary for all critical institutions like exchanges so that operations can be conducted seamlessly and smoothly in case an extraneous event hits the functioning of the main trading centre in Mumbai. According to the exchange, the entire technology and business operations were executed from the DR site which is located in another city and is a replica of the main production site in Mumbai. The live trading was to simulate a level 4 city wide disaster, in which the main site would not be available," the exchange said in a statement.  The company had invested Rs 770 crore in LPGCL and now needs to divest non-core assets as per the debt restructuring scheme approved by the lenders. Bajaj Hindusthan Sugar has convened an extraordinary general meeting on August 4 to seek shareholders' approval for sale of its share in LPGCL to another group firm Bajaj Energy Ltd. in a notice to shareholders Bajaj Hindusthan said that the company's investment in LPGCL has been identified as "non-core to the sugar and allied business activities”. The company holds 1,54,39,900 shares of Rs 10 each, constituting 17.51 per cent of the paid up capital of LPGCL.  Cash-strapped Fortis Healthcare, which is in the process of finding a new investor, today said its board will meet on July 13 to consider raising funds through issue of securities on a preferential allotment basis. The company had received binding bids from Malaysia's IHH Healthcare and ManipalTPG combine on July 3, the last day of submission of fresh round of bids called by a newly constituted board. Munjals-Burmans combine, which had earlier emerged as the preferred suitor for Fortis Healthcare, and Radiant Life Care, however, had backed out.

Results Thursday

Crown Tours Ltd.Cyient Ltd.Inditalia Refcon Ltd.Karnataka Bank Ltd.Talwalkars Lifestyles Ltd.


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