INDIA: NIFTY-Bulls in total control; Index trading at life-time highs

Market traded in green on Wednesday. Continuing the up move, Nifty made a new life time high of 6861. It made an intraday low of 6820 and finally settled at 6840 with a gain of 25 points.

Nifty is trading at life time high levels.  Wednesday’s derivative contracts expiry happened at highest ever level which is 199 points higher than previous expiry. It is clear that Bulls are in total control of the market. Nifty remains strong above 6650.

However, new high in index was not getting support of oscillators, such as stochastic, RSI and MACD. All the three have failed to make a new high, creating negative divergence at upper end resistance of long-term rising channel. Daily MACD is still in sell mode despite a new high.

The long-term picture shows great strength in the market. However, in short-term it seems over bought.

 

DAX 30: “Island Reversal”

DAX closed with a nominal gain of 4 points yesterday. However, it was a smart recovery from an intraday correction of 9400 level which is evident by a long tailed candlestick yesterday.

As already described, DAX is moving within a range between 9700-9750 on the higher side and 8900-9000 on the lower side. Currently it is headed northward towards upper end. With a gap up move few days ago, daily graph shows an “Island Reversal” pattern.

Daily MACD is in buy mode and the odds are in favor of bulls. Our strategy is to take long with a stop of 9400 for a target of 9700-9720.

FTSE 100 index almost closes flat

Yesterday saw mixed trading in the FTSE 100 index with the price finishing almost on a flat note towards the close.

On the technical front the close back above 6600 is a positive indicator for trend. Further to daily momentum studies trading higher above mid range would tend to reinforce further higher price action. The next support level for index comes at 6500 and thereafter straight at 6395. Price sustaining and trading above 6600 would take the move further towards 6900 and thereafter at 7000. Our strategy is long on dip with stop placement below 6600.

FTSE: DOJI-implies indecisive state of market.

Yesterday saw range bound trading in FTSE 100 index. A DOJI in candlestick chart implies indecisive state of market. Index finished almost on a flat note towards the close down by 2 points from previous day closing.The close back above 6600 is a positive indicator for trend. Further the daily momentum studies trading higher above mid range would tend to reinforce further higher price action. The next support level for index comes at 6500 and thereafter straight at 6395. Price sustaining and trading above 6600 would take the move further towards 6900 and thereafter at 7000. We strategize long on dip with stop placement below 6500.

Symbiosis Healthcare Plc : Offer received for majority stake of the Company

April 23, 2014

For immediate release

Symbiosis Healthcare Plc.

“SYMB” or the “Company”

 Announced on GXG MARKETS Wednesday, 23rd April 2014 08:00 CEST

Symbiosis Healthcare Plc. (GXG: SYMB) would like to confirm that an offer has been received to acquire a majority stake of the Company, subject to due diligence, valuation and shareholder approval.

The Board of Directors is reviewing this offer currently.

Dr. Samir J Said, Chairman of the Company commented, “The management is focussed on facilitating aggressive growth in the Middle East, Europe and Africa, through joint ventures, mergers and acquisitions. This offer is timely and we shall review the offer keeping in mind, the best interests of all the stakeholders.”

THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT.

For further information, please contact:

Dr Samir Jassem Said, Chairman and CEO

Dr Aleem Mirza, Director

Mr Bhinder Singh Purewal, and Director

E-mail:  info@symbiosis-healthcare.com

William Albert Securities Ltd 
Corporate Advisor 
Albene Mendy 
Tel:  0203-006-3240

E-mail: Albene.mendy@williamalbert.com

Symbiosis Healthcare Plc : Management Changes: New CEO appointed

Symbiosis Healthcare Plc : Management Changes: New CEO appointed

Symbiosis Healthcare Plc. (GXG:SYMB), is pleased to announce the appointment of Dr. Samir Jassem Said as the Chief Executive Officer with effect from 22 April 2014. Dr. Samir holds a PhD in Medical Laser. He has more than 30 years of experience working in healthcare projects throughout Germany, Kuwait, Iraq, Qatar, Tunisia, Oman, Bahrain, UAE, and Jordan. His research and projects have been for international organizations and state departments, covering diverse areas such as Maintenance of medical equipment, military equipment, laboratory set-up and maintenance.

 

Dr. Samir will also take on the role as Chairman of the Board with immediate effect.

 

Dr. Muhammad Aleem Mirza has stepped down as the Chairman and CEO of the company. Dr. Mirza will however continue to serve on the Board until transition is complete.

 

The Board would like to thank Dr. Mirza for his efforts and leadership over the past few years.

 

The Company would also like to announce the appointment of Mr. Bhinder Singh Purewal as Non-Executive Director of the Company. Mr Purewal is the founder Director of Symbiosis Healthcare Plc.

 

The changes in management have been done with a view to facilitate the renewed efforts of the company for aggressive growth in the Middle East, Europe and Africa, through joint ventures, mergers and acquisitions.

 

The Board has retained William Albert Securities Limited to assist the Board to review proposals for joint ventures, mergers and acquisitions.

European Equity Review: DAX, showing signs of distribution

In line with expectation, rally continued and DAX closed with a weekly gain of 244 points. With this it has appreciated 674 points or 7.5% from the low of 8913 within two weeks after finding combined support from 200 DMA and long-term uptrend line. Weekly MACD is still in sell mode but same on daily is in buy mode. Weekly stochastic has given an up tick whereas daily has reached the over bought zone.

It remains a hold above 8900, however, as explained earlier, a 10 years monthly graph shows DAX moving in a broad rising channel and has found resistance at the upper end of this channel, showing signs of distribution.

INDIA RESEARCH: Nifty closes with a spectacular weekly gain of 201 points.

Nifty closed with a spectacular weekly gain of 201 points. It has reached the 6700 mark and with this the resistance of upper end of broad ending triangle is crossed decisively. Negative divergence in 14 days RSI also now disappears.

Both, weekly and daily MACD shows buy signals. Index is at life time high above all resistances. The long-term chart shows a bullish breakout from large accumulation pattern of inverse head and shoulder.

This weekend, being the month end and quarter end as well, shows a much clearer long-term picture of the market. It shows a major long-term bullish breakout in Index after six years of accumulation, setting an initial target of 7500.

However, chances of profit booking at current level cannot be ruled out. Daily stochastic shows negative divergence at over bought zone and index at resistance of upper end supply line of rising wedge. However, oscillator may remain in over bought zone for a long time if the trend is established.

Thus it is  our strategy to buy and hold as long-term investors. We see any dip due to profit booking as an opportunity to buy shares at a lower level.