6th June 2019, Morning Brief

Global firmness will make our market to  open on a positive note today after yesterday's break.

Stocks opened mixed in Asia as discussions between the Donald Trump administration and Mexican officials on tariffs ended without an agreement on Wednesday.

Nifty has made a Bearish Harami pattern on the daily chart which consists of a long green candle followed by a small red candle. The opening and closing points of the second red candle should be within the body of the first green candle, which indicates a trend reversal. In this case, we need another negative closing below 11960 to say as a technical trend reversal.

The outcome of monetary policy will be an important event to watch. A 0.25% rate cut has been discounted already by market and it won't surprise market at all but may witness profit booking into market. Any other strategy will keep market volatile.

🎯 News & Impact 🎯

🎯 PSP Projects :
Company received new orders worth Rs 156 crore during FY 2019-20.

🎯 Wipro :
Company signed definitive agreement to acquire International TechneGroup.

🎯 Housing companies :
Housing sales up 13 % in January-March on stable prices.

🎯 Coal India :
Company targets 660 mt output, lines up Rs.10,000 crore capex in FY20.
Positive for the stock. 👍

🎯 Indoco Remedies :
US FDA issues 4 observations after inspection of facility in Goa.
Negative for the stock.

🎯 Tata Motors :
Jaguar Land Rover & BMW Group announce collaboration for electrification technology. Electric drive units will be manufactured by each partner in their own production facilities.

🎯 DHFL :
Company gets RBI's approval for sale of Avanse Financial Services to Warburg Pincus Group.

🎯 Lupin :
Japan's PMDA completes inspection of Mandideep facility (Unit-2), inspection closed with no critical or major observations.

🎯 Natco Pharma :
Natco files ANDA for Bosentan 32mg tablets for the USA market.

🎯 KPI Global Infrastructure :
Company acquired 100 % equity shares of KPIG Energia Private Limited, Surat (SPV).

🎯 DHFL :
Company likely to miss payment deadline for Rs 1,150 crore due on NCDs. Blackstone likely to pay DHFL around Rs 2,500 crore for Aadhaar By June 10.
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Edited by Sharp.