Monday, January 7, 2013

Intraday Tips For Today: Share Market Today

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Share Market Today:
Indian markets to get a flat-to-cautious start of the new week. The Indian markets remained in consolidation mood in last session, though major indices were able to enter the green in last but the better than expected manufacturing data was unable to make much impact and the traders largely concentrated on the US development where there were talks of Fed not continuing the bond buying programme for long. Today, the start is likely to be cautious as the regional markets are trading mixed and traders will be eyeing important events like IIP numbers and result announcements starting with IT bellwether Infosys later in the week. Though, there is not much expectations from the December quarter but some companies may surprise with better topline. Meanwhile, the PSU oil & gas companies will keep buzzing as the oil ministry has moved two separate cabinet notes - one to raise cap on supply of subsidised cooking gas cylinders and the other to increase fuel prices, particularly diesel, by less than a rupee per month to pair it with market rates and eventually deregulate it in next 15 months. While, there is some good news for the auto stocks, as it has been reported that in the Budget 2013-14 the Heavy Industries Ministry may pitch for lowering excise duty on two-wheelers and motor vehicles, especially small cars in order to boost sagging demand.

Intraday Tips For Today:

  • SELL YES Bank Ltd. for Intraday Target of 487 and a Stop Loss at 494
  • BUY Strides Arcolab Ltd. for Intraday target of 1090 and Stop Loss at 1068
  • SELL Axis Bank Ltd. for Intraday Target of 1350 with a Stop Loss of 1388.

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