Investors are advised to focus on stocks related to oil after Oil topped $79 a barrel, extending its longest winning streak in two years.On Nymex Crude oil for November delivery rose $1.01, or 1.3 percent, to $79.54 a barrel. Watch out for stocks like Cairn India, Oil India and Shiv-Vani Oil exploration.
Escorts is one stock that is looking interesting on the charts. The stock has clocked a volume of nearly 3.5 million shares and has gained 8 percent in the Muhurat session. There are rumors of the company unlocking value in the land bank it owns. Shree Precoated Steels was another counter that saw heavy trading in the one hour session on Saturday. The stock spiked more than 12 percent with more than a million shares traded in the counter. Definitely a stock to keep on the radar.
New listing Euro Multivision has seen some life after getting clobbered to mid 40 level after issuing stock at an IPO price of Rs 75. The stock gained more than 7 percent for the day. We recommend traders to play in this stock from a speculative stand point as there are the company is fundamentally weak.
Polaris will be in deck today and is likely to report Q2 numbers in line with expectations. Meanwhile NIIT technologies declared great numbers for the quarter registering more than 25 percent growth year on year. Sterlite Technologies and Apollo Tyres are other stocks to watch out. We recommend traders to Buy Omnitech Info and Agrotech Foods ahead of their numbers later this week