SADBHAV ENGINEERING ...is on right track

Sadbhav Engineering closed at Rs 397.95 on Friday, 16th Feb 2018. Earlier the stock fell from its high of 440 on 11th Jan to 365.05 on 2nd Feb. It has a support zone at around 393 - 385, which is around 61% retracement. A major demand zone lies further down, around 365 -355. 

Fundamentally the stock has performed well in the past. Its sales increased from 693 Cr to 935 Cr between Sep 17 to Dec 17. Profit increased from 33.50 Cr to 61.82 Cr. during the same period.

So in my opinion it is a good stock to watch out for.

Watch out for .......GNFC

GNFC  has posted strong quarterly result. The company has posted higher sales and profit. Its Dahej plant will also restart soon. Moreover the company also has 2 month export order in hand.

Technically the stock has give strong pull back rally, amidst a volatile market. It has closed above its 50% retarcement line, and taken resistance at 38%.

Given the condition one can expect this stock to perform well in the near future.

BUDGET WATCH OUTsss

STAR CEMENT

 On 18th Januray 2018, SBI MUTUAL FUND, bought 1,53,50,000 shares, on the same day promoters sold 1,40,00,000 shares.

Earlier, this year the company received subsidy of Rs 230 Crores and is in the process of receiving further Rs 158 from Central Govt. This will reduce their long term debts to Rs 275 Crore. The company is expecting volume growth of 5% in FY 2018 and 15% in FY 2019.

At present the after news of fresh subsidy on 27th December 2017, the stock price opened Rs 9.50 Gapup and went on to touch high of 151 within few days. Last day the stock closed at 128.30, thus filling the gap in daily chart, 128 is also monthly support for the stock. 

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WILL ASTRA MICRO FIRE???

For last 3.5 years this stock is moving in a range of 100-160 approx.

Its main maket segments are 

Defence, Space, Telecom, and Satcom.

Today the stock has closed @ 112.80 in NSE, which is very near to weekly support zone. Its monthly support lies @ 100, which has not been broken for last three and half years. Any price below 110 has been strong demand zone in the past. 

With budget knocking at the doors, the stock near its demand zone along with Make in India, will ASTRA MICRO FIRE??????

SBI forms tripple top in the monthly chart. Close above 325 will see up-move towards 350. But closing above 325 in the monthly chart is required for sustained upward movement. 

Ashwani Gujral of ashwanigujral.com told CNBC-TV18,
"Buy State Bank of India with a stop loss of Rs 314, target of Rs 328.."
http://www.moneycontrol.com/news/business/buy-sbi-pnb-chambal-fertilisers-ongc-canara-bank-delta-corp-ashwani-gujral-2489267.html 

Its a free fall from the high of 145.90 on 08-01-2018 to today's low of 103.50. Looking at this continuous down fall it seems that the stock is heading towards its next monthly support, which is around 90.

DSP BLACK ROCK buys 8K Miles @ Monthly Support

FIDELITY INVESTMENT TRUST FIDELITY EMERGING MARKETS FUND buys 3501308 shares in Sunteck Realty Limited.
http://www.moneycontrol.com/india/stockpricequote/construction-contracting-real-estate/sunteckrealty/SR05