Moneycontrol
Last Updated : Jan 14, 2019 07:15 AM IST | Source: Moneycontrol.com

A morning walk down Dalal Street | Q3FY19 earnings, macro-economic data in focus

Q3FY19 earnings, macroeconomic data, global market sentiments, and crude oil price movement will dictate the trend on the bourses.

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Indian market saw extreme volatility in the week gone by which was dominated by global cues as well as earnings. The S&P BSE Sensex managed to hold on to 36,000 while Nifty50 closed a shade below 10,800 levels.

The S&P BSE Sensex rallied by about 0.8 percent as compared to 0.05 percent gain seen in the S&P BSE Smallcap index and 0.2 percent rise in the S&P BSE Midcap index.

Even though broader market underperformed benchmark indices for the week ended 11 January but there was plenty of action in select stocks in the small-cap space.

In the coming week, Q3FY19 earnings, macroeconomic data, global market sentiments, and crude oil price movement will dictate the trend on the bourses.

On the macro front, markets will react to India's factory output growth hit a 17-month low of 0.5 percent in November as compared with 8.4 percent in October, mainly due to a de-growth in manufacturing output, data released by the statistics office on January 11 showed.

On the domestic front, WPI inflation numbers for December will be announced on Monday. Amongst key corporate earnings: Reliance Industries, Zeel, HUL, TV18, DCB Bank, Mindtree and Federal Bank will report their quarterly numbers.

On the global front, China exports and imports data for December will be announced on 14th January while the US Federal Reserve will issue the Beige Book on current economic condition on 17 January 2019, suggest experts.

Big News:

As many as 8 companies will report their results for the quarter ended December which include names like Indiabulls Ventures, ICICI Securities, Supreme Infrastructure, and Tata Metaliks etc. among others.

Stocks in news:

Avenue Supermarts, which runs the D-Mart supermarket chain, on January 12 posted 2.1 percent jump in its net profit to Rs 257 crore for the December 2018 quarter.

Syndicate Bank hopes to recover about Rs 1,500 crore from non-performing assets (NPAs) over the next three to six months, chief executive officer and managing director of the bank Mrutyunjay Mahapatra said.

Infosys net profit fell by 12% on QoQ basis and announced a share buyback of Rs 8,260 crore and a special dividend of Rs 4 per equity share along with its financial results for October-December period

Yes Bank, India's fourth largest private sector bank, on January 12 said it has appointed Brahm Dutt as non-executive part-time chairman to the board.

Technical View:

Nifty forms a ‘Hammer’ like pattern on charts

This kind of narrow ranges pointing towards a possible breakout in either of the directions in this week. Nifty in last couple of trading sessions is hinting at a buying interest on dips around 10,730 kind of levels.

Three levels: 10740, 10850, 10930

Max Call OI: 11000, 11200

Max Put OI: 10000, 10500

Technical Recommendations:

We spoke to Way2Wealth Brokers Pvt Ltd and here’s what they have to recommend:

Sun Pharma: Buy around Rs 440-445| LTP: Rs 443| Target: Rs 480| Stop Loss: Rs 424| Return 8%

Dabur India: Buy around Rs 420-425| LTP: Rs 421| Target: Rs 475| Stop Loss: Rs 400| Return 12%

M&M: Buy around Rs 730-735| LTP: Rs 728| Target: Rs 775-790| Stop Loss: Rs 715| Return 8%

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jan 14, 2019 07:15 am
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