Thursday, January 10, 2013
Positional Stock Tips and Nifty Trend For Today: 10th Jan '13
In my previous post we suggest that nifty will make a come back. as the trend suggest nifty closed on a down trend yesterday, But it open with a buying pressure today in its early trade. Globle market also allowed Nifty to trade in a bullish trend today. In the US, markets ended modestly higher in thin trading, recovering losses from the last two sessions, after Dow component Alcoa kicked off the fourth-quarter earnings season with a guidance upgrade. In key data to watch out for in the US today, weekly jobless claims are expected to slip to 362,000 the market would also keep an eye on wholesale trade data.
Nifty Trend For Today:
For Today Nifty is looking to get 6050 level. Although it has a strong support level at 5960 level and after that 5920 in deeper. But the current resistance allows nifty to get its first resistance at 6050 level and after that 6080 level. Nifty is bullish. So make a fresh position in it.
Positional Stock Tips For Today:
Axis bank has the largest exposure to the SME sector amongst private banks and FY14 could see a cyclical reversal in SME asset quality stress which will be a positive for axis. But axis bank to get a long term target of 1615.
Margins are likely to improve this quarter, driven by improved capacity utilization especially in the domestic custom molding business. Adjusted for forex losses, bottom line is likely to grow 13 percent year on year to over Rs 80 crore, buy to get the target of 100.
Upstream companies seem relatively better placed if the recent spate of news on diesel price hikes and deregulation works out. In case of diesel deregulation, ONGC's fair value would be 428 rupees a share. We suggest a Positional buy to get the target of 350.