Buy HPCL and Sell Cairn ..Profit urs ..loss mine
Stocks in Indian markets are likley to be flat and with negative bias, inspite of the good news from abroad. Expect the Sensex to trade in aband of 1 percent or 150 points with odds in the favor bears to win the battle for the day
Book profits in Oil and Oil related stocks as we have seen a sharp fall in the crude prices. Oil prices tumbled $2.32 to $72.02 a barrel on the New York Mercantile Exchange. Prior to trading Tuesday, prices had climbed 8.1 percent in just 5 days. Stocks like Alpha Geo,Selan Exploration Jindal Drilling and Hindustan Oil exploration had incredible gains in the past month and it is a good idea to take some money off the table.
IT and Consumer Durables were major gainers yesterday and the stocks in these sectors are likely to move sideways. The stock of Suven life was active on announcement by the company that it is in talks with global majors for a partnership for its Alzheimers drug. The stock hit 20 percent circuit at Rs 31. We recommend investors to wait for a pull back to enter the stock. A pure speculative play.
We maintain our pessimistic view on the markets in the short term, as we foresee a correction in the near term. Midcaps are getting too hot and it would be great for the market if there is a some consolidation, before a move up. Karuturi Global, Alps Industries and ISMT are some of the midcaps to watch in today's trade