Buy on dips… best buying opportunity

Buy on dips… best buying opportunity

“The watch-out level of the week is placed at 8270, stands convincingly violated, without much effort. The next support in order is at 8100-8080, which corresponds to the closing low of May 2015,” GEPL Capital said in a report.

“Upside resistance overhangs are established now at 8270, 8333 (200 DMA simple), 8422 (50 simple DMA) & 8550(100 simple DMA),” he adds.

Here is a list of twelve stocks which are likely to remain in focus today:

State Bank of India: State Bank of India (SBI), the nation’s top lender by assets, said on Tuesday it will cut its base lending rate by 15 basis points to 9.7 per cent, effective June 8.

Power Grid Ltd: State-run transmission utility Power Grid Corporation (PGCIL) is planning to invest Rs 22,500 crore this fiscal to fuel its expansion plans.

RIL: Reliance Industries will produce 23 million standard cubic meters per day of more gas from five discoveries in the flagging KG-D6 block by 2016-17, the Oil Ministry said in its latest annual report.

Allahabad Bank: First off the blocks, state-owned Allahabad Bank cut its base rate or minimum lending rate by 0.3 per cent within hours of RBI lowering key policy rate for the third time this year.

Nestle Ltd: The Delhi government has decided to initiate a case against the company for selling an unsafe product and impose a financial penalty for “misbranding”.

Apollo Hospitals Ltd: Healthcare major Apollo Hospitals Enterprise has acquired 51 percent stake in Assam Hospitals to strengthen its presence in the north-eastern region.

South Indian Bank: South Indian Bank has informed that the Board of Directors of the Bank at its meeting has decided the to augment Tier I capital by way of increasing the paid-up capital of the Bank by issue of equity shares not exceeding Rs.20 crores in nominal value.

Punjab & Sind Bank: The bank has reduced its ‘Base Rate’ by 25 bps from existing 10.25% p.a. to 10.00% p.a. as well as, reduced ‘Benchmark Prime Lending Rate’ (BPLR) by 25 bps from existing 15.25% p.a. to 15.00% p.a. effective from 03 June 2015.

Oberoi Realty Ltd: The company on Monday said its board has passed an enabling resolution for raising up to Rs 2,250 crore by issuing debentures and equity shares through public offer and private placement.

Essar Ports Ltd: The company said a strategic pact between the company and Port of Antwerp International has been mutually terminated.

Emami Ltd: Mid-tier FMCG firm Emami Ltd on Tuesday acquired the ‘Kesh King’ brand of hair and scalp care products from SBS Biotech for Rs 1,651 crore, one of the largest deals in the segment in recent times, after the seller agreed to lower the original asking price.

Balmer Lawrie Ltd: Diversified public sector enterprise Balmer Lawrie is planning to expand its distribution network and double its market share over the next five years, a senior official of the company said.

Continued here: 

Buy on dips… best buying opportunity

See which stocks are being affected by Social Media

Share this post