| Stock Pick | Observation | |
| Company | NCC Ltd | The stock is trading in a lower top-lower bottom chart structure and has witnessed a breakdown below its support levels. It has also shown bearish momentum on the weekly MACD-Histogram. Derivative data indicates fresh short formation. |
| Recommendation | ||
| Buy or Sell | Sell (July Futures) | |
| Range | Rs88.5-89.5 | |
| Target | Rs83 | |
| Stop Loss | Rs93.1 | |
| Duration | 1 week | |
| 200-D-EMA | Rs111 | |
| NSE Code | NCC | |
| Stock Pick | Observation | |
| Company | Ambuja Cements Ltd | The stock is trading in a lower top-lower bottom structure on the daily chart. Derivate data indicates fresh short formation in the stock. The stock has also witnessed a bearish crossover on the daily MACD-Histogram, which affirms our negative view on it.  |
| Recommendation | ||
| Buy or Sell | Sell (July Futures) | |
| Range | Rs197.8-199.8 | |
| Target | Rs186 | |
| Stop Loss | Rs206.4 | |
| Duration | 1 week | |
| 200 D-EMA | Rs236 | |
| NSE Code | AMBUJACEM | |
| Stock Pick | Observation | |
| Company | Sanofi India Ltd | The stock has witnessed a breakout from its sideways consolidation on the weekly chart backed by an uptick in volumes. It has also shown positive momentum on the daily and weekly MACD-Histogram. We expect the positive momentum to continue in the following week and recommend a buy with a target of Rs5,810. |
| Recommendation | ||
| Buy or Sell | Buy | |
| Range | Rs5460-5510 | |
| Target | Rs5810 | |
| Stop Loss | Rs5260 | |
| Duration | 1 week | |
| 200 D-EMA | Rs4847 | |
| NSE Code | SANOFI | |
CMP: Rs706; Target; Rs826; Upside: 17%
Tata Chemicals Ltd (TCL), the third-largest producer of soda ash globally, stands to benefit from the rising end-user industry demand. This would aid maintain margins under this segment. A greenfield project with an investment of Rs270cr for biotechnology manufacturing unit (~5k MT) of food ingredients and formulations in Nellore, Andhra Pradesh, augurs well for TCL. TCL has planned to foray into highly dispersible silica business with an investment of Rs295cr. This would enhance its margin and diversify its portfolio under the specialty business.
We estimate revenue to grow at 9% CAGR led by higher volumes under soda ash and new product launches under consumer business in FY18-20E. We expect EBITDA CAGR of 11% over FY18-20E with an increase in margin by ~90bps to 22.2% in FY20E. However, we expect moderate rise in PAT on account of higher effective tax rate.
NIFTY FUTURE TIPS
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