Dear readers,
Indian Markets today opened in gap down followed by global cues, Asian in particular. The results from the India Inc were not too impressive either to cheer up the markets, Though Nifty saw a smart recovery towards the 2nd half and crosses the 4890 levels and made a high of 4924 after making a Intraday low of 4823.
Mid cap and Small cap stocks which were hammered down badly showed some recovery and covered a significant lost ground, along with some major banking stocks Like Axis bank and Canara bank. Towards the end Realty major Like DLF and HDIL came of significantly from their day highs, leading the markets to correct towards the end.
Nifty closed near 4887 up 15 points and Sensex closed near 16392 up 34 points from previous close, BSE small cap Index was up more than 2.7%.
Nifty seems to be stabilizing at the current levels i.e. 4800-4900 which certainly is a positive sign, but some analysts fear that Nifty is in immediate downtrend and could head lower as there is nothing much to cheer about the results and Inflation remains the cause of worry. Though pre budget rally cannot be ruled out, still the concerns about the Fiscal deficits looms large on government which could in fact affect the prospects of industrial and stimulus scope for Industries.
Our Recommendations for today:
- Tata motors: from 689 to 678
- ABG ship: from 307 to 314 which made an high of 319
- Shivam auto: from 94.2 to 96.2
- Sesa Goa : from 354 to 362 made an high of 368
- NFL : from 133.5 to 136
- Indian Bank did not perform well and STC India achieved all targets only after triggering SL.
Multi bagger recommended on Friday:
- Unitech: from 71.7 to 78
- MRF: from 5729 to 6100
- RS soft: from 49 to 53.5 targets achieved and then crashed.
Stocks to watch on:
ABG Shipping and Bharti Shipping recommended on Friday gained more than 6% in intraday trade, tomorrow watch Walchand nagar and Jai corp.
Stock to buy for Tuesday:
Buy Jai corp above 306 target 309 to 318 SL 303
Nifty on Monday:
Nifty above 4937 can test 4960 to 4985 on the downside break below 4855 can test 4828.
