Opening is flat to down ,stay long abv 5718 sl 5698 tgt 5775-5800.sustain below 5695sell with SL 5715 tgt 5640-5600.Today, we expect a lower opening, in line with the trend across global markets. Intra-day gyrations may increase ahead of Thursday's F&O expiry. The broader trend is still not clear. Stick to your strong counters and lighten positions in trading counters, unless you know something, which many others don’t
Reports say SEBI has denied permission to Mundra Port to list in the F&O segment. Expect the stock to at least double on listing today. The offer price was fixed at Rs440 per share.
Midcap Stocks looking good for an upmove :
JHS Svendgaard, Gwalior Chemicals, IL&FS Investsmart(we repeat this stock as highly undervalued), SREI Infra, LT Overseas and Aegis Logistics.
With Rupee hitting one month low IT stocks are showing strength and we believe the sector to pull back to certain extent. The media pack is in the limelight from couple of days with Shringar Cinemas(Rumours of ADAG acquisition), Mukta Arts, Balaji Tele(rumours of stake sale to a PE firm), PVR Cinemas(huge expansion plans) and Cinemax being the front runners. Hexaware was battered yesterday after the company announced a suspected fraud in the company. Any further dips should be taken as a buying oppurtunity.
Surana Telecom(Rs.37.50) is reportedly doing great. Upside movement towards 50 level is expected in the short term
News in Focus
Bajaj Auto: ‘out-of-court settlement’
RPL: Chevron may sell stake
Walchandnagar I: declares 100% dividend
Sadbhav : bags Chhattisgarh projects
IVRCL Inf: bags Chhattisgarh project
Rain Calcining : merges with Rain Com
Buy Mundra Port
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