Option activity in index options shows huge accumulation of options at 5,100 and 5,200 strikes. Crossing of 5,200 level may see Nifty make very sharp upmove. Metals, banking, realty, cement and auto stocks were in limelight. Good dispatch numbers and hike in prices sparked buying in cement counters. Stocks to cement their recent gains in days ahead, buy on declines ACC, Ultratech, Birla Corp, India Cement and Ambuja Cement. Auto stocks have run up too fast for comfort say industry watchers. Wait for correction to buy. Buy on declines. True to predictions banking counters led by biggie SBI are back in limelight. Buy smaller PSU banks like Vijaya Bank, Dena Bank and others for benefits accruing from recent budget moves.
Among the stock futures “new” additions BGR Energy, Onmobile, Jain Irrigation and Fortis are witnessing good trader interest. Buy on declines BGR Energy for surprising gains. PSU counters Power Grid, Petronet LNG and GSPL may show sharp upmove.
Infrastructure counters may see renewed buying interest over the next few weeks. Stay invested for present. With NASDAQ at 18-month high, IT stocks are expected to attract buying from foreign funds at lower levels.
For the trader or investor, discipline means to exercise good and prudent money management and risk management.
Activity in newly listed counters like ARSS Infra and Jubilant Foods clearly indicates that “story” telling is back in vogue.
Delivery volumes clearly indicate that operators are back at work in connivance with some funds. Next counter on radar is Hathway. Be cautious while dabbling in the hyped counters.
Savvy fund managers are buying eClerx Services, M&M Financial, Cholamandalam DBS and Raymond say market watchers. eClerx offers services in data analytics, operations management, data audit and metrics management.
Good growth numbers spell bright future for next few quarters. Buy on declines for price target of Rs750.
Expectedly strong rumours are doing rounds that M&M group will try to acquire banking license through M&M Financial.
Use corrections to buy. Raymond has finalised plans for restructuring and also to “unlock” land value. Market watchers and analysts tip the target of Rs350 in the medium term.
Cholamandalam DBS is reinventing itself and is now aggressively eyeing the banking space. Buy on declines for the target price of Rs125.
Midcap counters such as Dalmia Cements, Ess Dee Aluminum, Blue Dart Express, Core Projects and Zuari Inds are tipped for further gains from the
current levels.
Firmness on the part of the government to not rollback fuel prices may trigger mild rally in PSU oil marketing counters and may also affect private refiners such as Essar Oil.Watch out for this sector for sharp swings.
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