Intraday Tips and Market outlook for July 30th

US markets ended flat.
European markets ended higher.
Asia has opened flat.
Expect the Indian Markets to open flat to positive.
Today we have F&O expiry (Role Over) so expect volatility.
The support for the Sensex is 15280-15100 and the resistance to the up move is at 15600-16046
Nifty: (4513) the support for the Nifty is at 4490-4450 and the resistance to the up move is at 4585-4620-4689

Day Trading Ideas :

RIL : Buy above 1950 for targets of 1965 and 1985. SL of 1940

HDIL : Buy above 268 for targets of 272 and 278. SL of 265

Adlabs : Buy above 262 for targets of 268 and 274. SL of 258

NTPC :Buy above 215 for targets of 218 and 221. SL of 211

Happy Investing !

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Accumulate on Reliance Industries : Prabhudas Lilladher

Prabhudas Lilladher has maintained its Accumulate rating on Reliance Industries even as the Bombay High Court gave its judgment in the favour of Reliance Natural Resources in the gas supply case.

“As per the hearing, RIL will supply 28mmscmd KG basin gas to RNRL for a period of 17 years. This is likely to have a negative impact on RIL’s NPV for KG basin, future cash flows and FY11 EPS of RIL.

We are envisaging three different scenarios and their effect on RIL estimates. One of the scenarios depicted includes, a scenario with similar case currently being contested by NTPC. However, there is a strong likelihood of RIL appealing in the Supreme Court as the current hearing will have negative implications on the ongoing case between RIL and NTPC.

We have incorporated the effect of RIL-RNRL case hearing in our estimates with reduction in NPV for KG Basin by Rs 75. We maintain ‘Accumulate’ on the stock," the brokerage said.

Source : Economic Times

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