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
Nifty
11121 10024 10871 10700 10589
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 Manipal-
TPG 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.

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

Results Ltd.Talwalkars Lifestyles Ltd.
Thursday
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