"The benchmark stock indices continued to remain rangebound and are unable to find any specific direction after last week’s strong rally. Globally too, equities have struggled this week as the dollar has strengthened against major rivals", says Amar Ambani, Head of Research (India Private Clients) - IIFL.
The Indian market ended another insipid day with modest losses on Wednesday as weak Asian and European markets weighed on the sentiment.
On Wednesday, the BSE Sensex lost 57 points to close at 20,875 an the NSE Nifty slipped 26 points to close at 6,275.
Prices show no sign of easing despite a strong dollar.
FOR TODAY:
Some recos from Fairwealth Securities:
Buy Sintex Industries above Rs 234 for target of Rs 237-240 and stop loss of Rs 231.
Buy Great Eastern Shipping Company above Rs 393 for target of Rs 400-407 and stop loss of Rs 386.
Buy Housing Development and Infrastructure (HDIL) above Rs 267 for target of Rs 270-272 and stop loss of Rs 263.90.
Some recos from other broking houses:
Kantilal Chhaganlal recommends Buy on DB Realty with a price target of Rs 546.4 as against CMP of Rs 414.5
KJMC recommends Buy on Jain Irrigation Systems with a price tarhet of Rs 274 as against CMP of Rs 227
Asit C Mehta recommends Hold on Oracle Financial Services Software (OFSS) with a price taeget of Rs 2,379 as against CMP of Rs 2,289
FOR NIFTY AND BANK NIFTY:
Sell Nifty Futures below 6,295 for target of 6,275-6,260 and stop loss 6,315.
Sell Bank Nifty Futures below 13,040 for target of 12,981-12,925 and stop loss 13,100.
MICROSEC SECURITIES (FUNDAMENTAL CALL): https://acrobat.com/#d=PdsVJFhDQL8Pl--n6dhfMg
MICROSEC SECURITIES (TECHNICAL CALL) : https://acrobat.com/#d=kgM*LIa70*PYSnewosEqjQ
FAIRWEALTH MANAGEMENT (OUTLOOK) : https://acrobat.com/#d=uEfor-SO85WXUEfzm-7jBg
