MCX Commodity Tips - Gold & Copper For Today 16 May 17

MCX Gold
 
It doesn't look like we're done yet with this counter-trend bounce in gold. Look for an additional 38% retracement before we start looking for a top. Make no mistake – this is a dead cat bounce. Expect a top before the week is over.

MCX Gold Tips

ONLY BUY GOLD ABOVE 28200 with Target 28400,28700 and Stoploss Rs 28,050

MCX Copper

MCX Copper has been witnessing some barging buying last week  which  is  likely  to  continue  this  week  as  well. 


MCX Copper Tips
Support & Resistance Levels
R1 367, R2 372
S1 352.5, S2 344

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Top Stock To Watch For Today | Stock Tips

Stock To Watch For Today - Ajanta Pharma, Axis Bank, Bank of Baroda, JSW Steel, ONGC

Ajanta Pharma Ltd:

Ajanta Pharma Ltd the drugmaker will be in focus after it announced the receipt of final approval for Duloxetine Hydrochloride Delayed Release Capsules from USFDA. It is a bioequivalent generic version of Cymbalta 1 Delayed Release Capsules. Company will be launching the product shortly in 3 strengths, 20 mg, 30 mg and 60 mg strengths capsules.

Axis Bank Ltd:

Axis Bank Ltd Private sector bank will be in focus after it announced that it became the third lender in the country to announce usage of block chain solutions for its operations, after its peers ICICI Bank and Yes Bank. The Shikha Sharma-led bank, the third largest private sector lender, will be using the upcoming technology for cross-border remittances, it said in a statement.

Bank of Baroda:

Bank of Baroda, the state-run lender, will be in focus after it reduced home loan rates by 70 basis points to the industry's lowest level of 8.35 per cent that will be applicable for customers having a strong Cibil scores.

Engineers India Ltd:

Engineers India Ltd., the engineering consultant will be in focus after it received contract worth Rs 25 billion from HPCL for Vizag Refinery.

JSW Steel Ltd:

JSW Steel Ltd., the Jindal group integrated steel company, will be in focus after it said it has registered a 43% growth in crude steel production at 3.86 million tonnes in the third quarter of the ongoing fiscal.

Max Ventures & Industries Ltd:

Max Ventures and Industries Ltd., part of Analjit Singh-led Max Group, will be in focus after it announced Rs 1.48 billion fund raising plan, which includes sale of 22.51% stake to a subsidiary of New York Life Insurance Company for Rs 1.21 billion.

Oil & Natural Gas Corporation Ltd:

Oil & Natural Gas Corporatio Ltd (ONGC), state-owned largest explorer of oil and natural gas, will be in focus after it announced that Gujarat State Petroleum Corp (GSPC) will buy entire output at a predetermined price from the KG Basin gas field that it has agreed to sell to ONGC for $1billion, a key provision that addressed gas pricing concerns of India's largest crude producer and helped seal the deal, senior executives at the two firms said.

Piramal Enterprises Ltd:

Piramal Enterprises Ltd., the healthcare company, will be in focus after it announced that Ajay Piramal, Chairman of the company, may consolidate his control in Shriram Capital, the holding company of the financial services entities of Chennai-based Shriram group, by increasing his stake to one third from one fifth and naming a key executive as the firm's chief executive officer.

Tata Elxsi Ltd:

Tata Elxsi Ltd., the Tata Group engineering company, will be in focus after it announced, Monday the adoption of the V2X test system by CAICT, a scientific research institute directly under the Ministry of Industry and Information Technology of China. This next generation test system is developed in partnership with Spirent, a global leader in test solutions for automotive networking and communications. It provides a flexible, scalable and comprehensive test environment for testing and performance benchmarking of V2X applications, in various stages of the development cycle, right from early research up to pre-production.

Earnings Today:

IndusInd Bank Ltd and ISGEC Heavy Engineering Ltd will announce their financial results for the quarter ended December 31, 2016 on Tuesday.
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Divis Laboratories Went 52-Week Low; Stock Tanks 17% Intra-day

At 02:50 pm Divis Laboratories hits 52-week low of Rs 855, down 23% on the BSE in intra-day trade on back of heavy volumes.

On December 7, 2016, the US Food and Drug Administration (USFDA) had issued form 483 with five observations against Divi's Laboratories' unit at Chippada Village in Visakhapatnam of Andhra Pradesh. The USFDA inspected the company’s unit from November 29, 2016 to December 6, 2016.

These critical observations will be responded within the time permitted, the company said in a statement.

Form 483 relates to certain critical observations issued to a company at the end of an inspection if there were any violations of the Food Drug and Cosmetic Act and other related acts of the US Government.

Divi's manufactures active pharmaceutical ingredients (APIs) and intermediates for generics among others at this plant.

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