Daily Reports From CapitalHeight 29Nov2017

1. 29.11.2017 Market commentary In today’s trade markets remained under selling pressure as selling pressure escalated at higher levels. Nifty and Bank Nifty Index gave away its opening gains and ended around its days low despite witnessing a strong close in the US markets. Axis Bank, ZEEL, Asian Paints and HDFC limited were among the biggest losers, shedding more than 1%. Stocks in Europe opened higher tracking the surge in their Asian peers, shrugging off the news of another missile launch by North Korea. Wipro, Sun Pharma, Bosch and Bharti Infratel were the top gainers, while Axis Bank, Asian Paints, and Zee Ent lost the most. Nifty Daily Chart R2 R1 Pivot S1 S2 Nifty 10321 10411 10386 10366 10341

2. Stock to Watch for Thursday Sobha Developers Ltd. Daily Chart Technical Analysis The stock is moving in strong uptrend and today has given fresh breakout on daily chart of consolidation and can move further up. The stock had made high of 554.70 last month and corrected up to 465 and consolidating around the level of 545. Today it has given breakout of that level and made high of 600.45 and close at 590.30. Long position can be made above 595 for target of 615 and stop loss can be maintained below 578.45.

3. Market Highlights Benchmark indices ended the session on a flat note, with the Nifty closing above 10,350-mark.The Sensex closed down 15.83 points at 33602.76, while the Nifty was down 9.00 points at 10361.30. The market breadth was negative as 1319 shares advanced against a decline of 1382 shares, while 141 shares were unchanged. Alkem Laboratories share price rallied as much as 8.5 percent in morning Wednesday after Motilal Oswal has upgraded its rating to buy from neutral on the stock, citing likely strong domestic business growth. Parsvnath Developersshares jumped 5% after the company won an arbitration award worth Rs1,034.5cr.The company has announced that the Development Agreement of the Company and its Associate Co. Parsvnath Rail Land Project with Rail Land Development Authority for implementation of its project at Sarai Rohilla-Kishanganj inNew Delhi has been terminated and that disputes arising under the Development Agreement are pending adjudication before Arbitral Tribunals, where the company and PRLPPL have claimed more than Rs1500cr Dr. Reddy's Laboratories erased their gains and fell 0.4% after the company said it has been served with a class action lawsuit from a US court. The company said it believes that the asserted claims are without merit and intends to vigorously defend itself against the allegations. Upcoming Results Result on Thursday Blissgvs,Shreyanind,Ufo,Orbtexp,Kcp,Datamatic,Archies,Advanihotr.

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