Markets to trade in a narrow band, Stock specific action likely in today's trade
The same goes for the market and key indices could be primed for a fresh advance after a slow start. Among the key triggers are likely to be a sharp drop in inflation (thanks to the fuel price cut) and possible improvement in IIP data.
Satyam’s government-appointed board will also meet today to consider a road-map for future, including a strategic sale. The winter session of Parliament begins today.
Interim Railway Budget will be presented on Friday while the Vote-on-Account will be announced on Monday.
DLF is the stock to watch out for, a sit will be interesting to see how the marke reacts to the decision by the company to exit the Dharavi project in Colloboration with Akruti City. Unitech on the other side might see some upward movement on the news of tie up with Tata Tele.
Stocks in Retail, Media and Telecom might see some demand on the goverment's decision to approve the changes in FDI policy linking approvals to the concept of control for the first time.Media is our pick among these sectors.
Hexaware Technologies, Power Finance Corporation, Birla Power and Areva T&D are some of the stocks that might see some positive for the coming week, and short term positions are advised in these stocks.
Siemens
We recommend a buy in Siemens from a short-term trading perspective. It is clearly visible from the charts that after encountering resistance around Rs 322 in early January, it witnessed a sharp tumble. However, the stock found support at Rs 186 that was also the 52-week low. Since then, the stock has been on a gradual short-term uptrend. On February 11, the stock gained bullish momentum by surging 7 per cent. This gain conclusively penetrated the stock’s 21-day moving average. We notice that there is an increase in volume over the past three trading sessions. The daily relative strength index (RSI) is rising in the neutral region and the weekly RSI is displaying prolonged positive divergence. The price rate of change (ROC) indicator is rising in the positive territory indicating buying interest. We are bullish on the counter from a short-term perspective. We expect the going-up move to continue until it hits our price target of Rs 245. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 209