Key equity indices rose for the second consecutive session to finish at two-year highs Wednesday, as investors across the globe cheered the resolution of the US fiscal crisis. Currently Nifty is on uptrend today trading at 6000 level. here are some stock suggestions for positional trading.
Stock Tips For Today
Infosys
Delays in deal closures and cuts in spending in some of its banking clients are likely to result in lower growth than earlier expected. The company could lower its fy13 revenue guidance by 2% and EPS guidance by 4-5%. We suggest a buy in Infosys to get the target of 2600 for long term.
NMDC
NMDC is currently in consultation with KPMG to develop a pricing formula for monthly iron ore prices and this is expected to be finalised soon. This could lead to a rebound in prices in the coming months. Buy is suggested for long term with a target of 210.
Reliance Industries:
The company could see an 8% dip in profits in Q3 on the back of a sequential fall in GRMs and a plunge in KG-D6 gas volumes. The fourth quarter looks worse, given a major planned shutdown and a further dip in gas volumes. we suggest a sell in Reliance Industries for short term with a target of 820.
Coal India
New allocation rules could mean that coal India will have to pay for all coal block allocations from here-on. Although it has a support near 310 level. Having a resistance at 400 for long term one can go for a sell in Coal India with a target of 320 level.
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