In the previous fortnight, the Indian bourses witnessed strong FII inflows mainly on the back of profit-booking in base metals like copper, zinc and nickel. These funds found their way into India and the Philippines, among other emerging nations, giving a fillip to the stock markets, and are likely to continue, going forward.
Also, after the recent hike in interest rates by the Reserve Bank of India in its monetary policy review, the upside now seems to be capped at the current rate.
The Nifty benchmark index has support at the 5,800 level and at the 5,750 level, thereafter. The markets look good at current levels for investors and traders alike.
Market participants can consider stocks like Axis Bank (LTP: Rs 1,409.05), Bank of India (LTP: Rs 479.90), Orchid Chemicals & Pharmaceuticals (LTP: Rs 317.30), Bharat Forge (LTP: Rs 355.35), Federal-Mogul Goetze (India) (LTP: Rs 212.05) and Mcleod Russel India (LTP: Rs 262.35) as they look attractive at the current levels.
Sectorally speaking, cement looks good and market participants can look at Prism Cement (LTP: Rs 54.10), Grasim Industries (LTP: Rs 2,529.90) and ACC (LTP: Rs 1,091.95) from investment as well as trading perspectives.
The fourth quarter company results, which are also the year-end financial results for 2010-11, are likely to be the highlight of the coming month. The streets are expecting a mixed bag of results for the quarter. However, banking could be a positive surprise.
On the global level, rising crude oil prices could be a cause of concern in the next fortnight.
http://www.moneycontrol.com/news/marketoutlook/alliswellmarketatcurrentlevelsnirmalbang_535187.html
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment