Daily Equities Report – 08 Dec 2021

Market Analysis:-

Nifty 50 – (+1.71%)

Sensex – (+1.76%)

Nifty Midcap 50 – (+1.73%)

Nifty Smallcap 50 – (+1.95%)

Dow Jones – (+0.10%)

S&P 500 – (+0.31%)

FTSE 100 – (-0.03%%)

DAX – (-0.80%)

NIKKEI 225 – (-0.09%)

Stock Idea – 1 – Larsen and Toubro Limited

Brief description of the company:-
Larsen & Toubro Limited is a technology, engineering, construction, manufacturing and financial services company.

Describing Technical Reasons:-
Larsen Toubro is one of the largest company in India and is a fundamentally very strong company
But the company has been beaten down due to the heavy fall in Nifty.
Also Larsen and Toubro (L&T) has signed an initial agreement with the Saudi Arabian Oil Company (Aramco) to develop manufacturing capabilities in Saudi Arabia.
The stock price has closed above the 50 EMA which is a positive Indication for a further up move. And also the stock closed last day with a strong volume.
The stock has been following a channel pattern for some time now. LT has reached the support zone for the channel pattern.
Stop Loss and Target can be kept according to your risk appetite. It can be of 5% to 10%

Stock Idea – 2 – IPCA Laboratories

Brief description of the company:-
Ipca Laboratories Limited is engaged in the pharmaceuticals business. The Company is a manufacturer and supplier of over 10 active pharmaceutical ingredients (APIs).

IPCA Laboratories is a MidCap company with a Market Capitalization of ₹25,516 cr.

Describing Technical Reasons:-

IPCA Labs has been falling down for a couple of weeks now. And it is following a downtrend line. If that trendline is broken with huge volume It will lead to more upward movements.
Now Nifty Pharma is showing a strong upward indication.
The major resistances are – 2226 and 2430.
RSI is also showing upward movement indication.
Stop Loss and Target can be kept according to your risk appetite. It can be of 5% to 10%

Stock Idea – 3 – Marico

Brief description of the company:-
Marico Limited is a consumer products company operating in the beauty and wellness space. Company’s brands include Parachute, Nihar, Saffola, Hair & Care and Livon.

Marico is a LargeCap company with a Market Capitalization of ₹67,465 cr.

Describing Technical Reasons:-

Marico is one of the largest FMCG companies in India which has been showing downtrend for a couple of weeks. The company has been falling because of the weakness that we witnessed in the Nifty.
The stock has been falling in a downward channel pattern. If this channel is broken with good volume. A good upsurge in the stock can be expected.
If the stock breaks the channel pattern and then moves above the 50 days moving average it can lead to further bullishness in the stock.
RSI is at 40 and is showing an upward movement indication.
Stop Loss and Target can be kept according to your risk appetite. It can be of 5% to 10%