Value Plus

Arihant's Value Plus - June 2019



For the third month in a row, government has managed to collect over Rs 1 lakh crore in Goods and Services Tax (GST). India's gross GST revenues in month of May, 2019 stood at Rs 1,00,289 crore compared to Rs 1.13 lakh crore in the month of April. However auto sales continued to face pressure due to weak buyer sentiment. Passenger vehicle sales declined 19% YoY, while two wheelers sales were flat (-0.4% YoY). Overall there was a clear sign of slowdown in the economic activity as can be seen from the GDP numbers, with GDP growth for the fiscal fourth quarter (Q4FY19) coming in at 5.8%, a five-year low. Now that the ruling party has got a second term in office, markets are hoping the government will fix what is broken and infuse life into the economy. The surge of stock indices to all-time highs shows that markets are confident of growth-boosting measures.

In this issue:

  • Movers and Shakers
  • Market Outlook
  • Nifty Technical Outlook
  • Stock Pick
  • Auto Sales
  • Commodity Pick
  • Mutual Fund
  • Key Events

On the monthly chart, we are observing a high wave candle which almost tested the median line of the channel (shown above in the graph) and has closed near the high of the month.

In coming month if Nifty trades and close above 12099level then it is likely to test 12372 – 12644 - 12961 levels. However, if Nifty trades and close below 11745 level then it can 11473 – 11201 - 10885levels. 

Broadly, we are of the opinion that the monthly trend remains up and any corrective move near 11700 to 11475 should be viewed as buying opportunity for a target of 12372 – 12644 – 12961 levels.


Tags: Auto SalesKey EventsMutual FundMovers & ShakersMarket OutlookStock PicksNifty Technical OutlookCommodity Pick


Arihant's May Investment Newsletter is now available #ValuePlus.
Click here to download full pdf report.

Search Reports

SEARCH

Reports

Daily Market Update...

Nifty opened higher traded...

Read More

Daily Market Update...

In coming trading session if...

Read More

Daily Market Update...

In coming trading session if...

Read More

Daily Market Update...

In coming trading session if...

Read More

Daily Market Update...

Nifty opened higher but was...

Read More

AxisCades Engg....

AXISCADES Engineering...

Read More

TCS Q2FY20 Result Update

TCS came out with poor set of...

Read More

INDUSIND BANK Q2FY20...

IndusInd Bank reported muted...

Read More

INFOSYS Q2FY20 Result...

Infosys reported good set of...

Read More

DMART

SHORT TERM TRADING CALL: BUY...

Read More

Subscribe to newsletter

Request a call back

DISCLAIMER: This document has been prepared by Arihant Capital Markets Limited (hereinafter called as Arihant) and its subsidiaries and associated companies. This document does not constitute an offer or solicitation for the purchase and sale of any financial instrument by Arihant. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. Arihant Capital Markets Ltd (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have positions in, and buy or sell or (b) be engaged in any other transaction and earn brokerage or other compensation in the financial instruments/products discussed herein or act as advisor or lender/borrower in respect of such securities/financial instruments/products or have other potential conflict of interest with respect to any recommendation and related information and opinions.