NIFTY 50 INDEX – CMP – 10800- A Very Brief Simple Review

NIFTY 50 INDEX – CMP – 10800

The nifty index is looking overbought for the time being and we believe its time to exit longs and possibly enter short positions, it can be done by shorting calls which is best way, and other relatively pricey method is buying puts.

At the same time we maintain that the market is in sideways, low volatile, non trendy, low volume, range bound phase, and likely to remain so with only some intraday ups and downs with more and more individual stock moves. The reaction of markets to RBI governor resignation and the slack performance of ruling BJP party in 5 state assembly elections does not say anything but reinforce the same fact. We believe the oil and gas and some other beaten down sector would benefit with the sideways market and may rise along with some other beaten down NBFC stocks. The market may rise only due to lack of short selling, and will tank due to lack of buying as stocks hits resistance in due course.

In case market gaps up tomorrow due to oversold European and Asian markets bounce back and non negative reaction to BJP losses in election, then we may see 11000 nifty level and domestic bout of stock buying for few weeks with same range bound non momentum trend.

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This is only a brief analysis and not a complete research report.

The given views are subject to change depending on changing market and global economic conditions. Become member to benefit from market and individual stock moves. Become member to get alerts for buy and sell with targets. Please read complete disclosure, disclaimer on our website.

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YES BANK LTD - Medium Term View - Stock Recommendations - Buy -Sell or Hold ?

YES BANK LTD – CMP - 185

This stock is presently stuck amidst huge turbulent newsflow including rift between promoters, RBI intervention regarding the same, consequent resignations of board members, RBI regulatory notices and so on. The stock saw support around 200 from a life high of 400 in 2 months, after it fell below that level, but soon resumed its decline and tanked to 150 on a bad day, only to rebound to 180 plus levels in next few days.

The stock is trading at a very attractive PE ratios of 10. The market commentators say that it’s a corporate bank and not a consumer bank like HDFC Bank, so it is not commanding the premium like it and so on. However we believe the stock’s fair value is above 250 and this level is very very attractive to buy for a one year period or more. Yes bank is not closing down and is here to stay. Buy on all dips. All the bad news is out discounted, now on only good news is expected. At worst, the stock may go down again around 150 but as we saw it has great support at that level. You need to be fearless when buying a great company at great valuations amidst bad newsflow. It is this type of investments that incur you above alpha returns.

For best services for traders and investors in Indian stock market for multibagger stock calls and intraday stock, nifty, stock futures, options trading calls visit our website www.meghacapital.in

To know how to trade or/and invest with entry, exit levels, alerts and time duration etc. become member.

This is only a brief analysis and not a complete research report.

The given views are subject to change depending on changing market and global economic conditions. Become member to benefit from market and individual stock moves. Become member to get alerts for buy and sell with targets. Please read complete disclosure, disclaimer on our website.

PIRAMAL ENTERPRISES LTD - Short Medium Term View

PIRAMAL ENTERPRISES LTD (PEL) – CMP - 2213

This is a great midcap group stock. It has scaled heights of 3200 mark and receded from thereafter on the back of the present 2018 market route, however recovered and stabilized like the rest of the market during the last two months.

The stock took support on weekly chart on its 200 DMA and is hovering around 2000-2100 mark. We believe it to give good return over next 12 months. It’s a good company to invest for financial planning goals portfolio building as well. In a good short-term up move it is expected to surge to its 100 DMA of around 2500. The MACD situation is not as supportive, however the sideways type of market will prove to be non-beta for the stock.

Having said that, the stock being a core midcap, has high beta value and may gyrate along with the benchmark indices and not tend to outperform in the face of underperformance by the rest of the markets. Read different article on overall market outlook for the next 12 months with spanning major events such as the Loksabha elections of 2019 and the USA-China tariff war as well as the USA equity markets hitting a speedbreaker.

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The given views are subject to change depending on changing market and global economic conditions. Become member to benefit from market and individual stock moves. Become member to get alerts for buy and sell with targets.

For best services for traders and investors in Indian stock market for multibagger stock calls and intraday stock, nifty, stock futures, options trading calls visit our website www.meghacapital.in