The 50-share Nifty index had a flat day of trade on Monday ahead of market holiday on Tuesday.
"We expect the Nifty to continue to move upwards although there will be resistances at every step of the way. Nifty may face stiff resistance close to 5150 levels and is unlikely to get past that very critical level in a hurry," said Kunal Saraogi, CEO, Equityrush.
"Markets may remain bound in a range between 4900 and 5150 for the next few trading session till the time a major breakthrough is achieved in solving the eurozone crisis." added Kunal.
"In this range bound period stock specific activity can increase. The heavily traded beaten down mid-cap stocks could see activity picking up in this week," said Rakesh Gandhi, Sr Technical Analyst, LKP Securities Ltd.
Equityrush Recommendations:
SREI Infra is a 'BUY' call with a stop loss below Rs 25 and a target of Rs 28
Polaris Financial Technologies is a 'BUY' call with a stop loss below Rs 125 and a target of Rs 140
Stocks in news:
Retail stocks will be in focus as Finance Minister Pranab Mukherjee will make a statement regarding FDI in retail. However, Pranab had assured Mamata Banerjee that FDI in retail would be put on hold and nothing will be done on this unless a consensus was reached.
Cairn India, ONGC will be in focus after the state-owned Oil and Natural Gas Corp has given a no-objection certificate to British oil firm Cairn Energy's sale of a majority stake in its Indian unit to Vedanta Resources, paving the way for conclusion of the USD 8.71 billion deal in the next few days.
Praj Industries Ltd after the Pune-based biofuels technology developer and manufacturer of equipment for breweries and distilleries has announced a share buyback, slated to open on the stock exchanges from December 15.
Reliance Industries Ltd after the company plans to offer high speed data services on attractively priced tablets by 2012-end, which will coincide with the worldwide deployment of an advanced technology that it plans to use, reports suggest.
Pantaloon Retail Ltd after the Deccan Chronicle will buy the stake owned by his flagship firm, Pantaloon, in Future Capital Holdings in a surprising and unexpected diversification for the Hyderabad-based sports and media company.
In a separate transaction, Mumbai-based Industrial Investment Trust ( IITL) has purchased Pantaloon's 26% stake in its insurance joint venture Future Generali Life for Rs 250-300 crore.
Hindalco Industries Ltd after the company will be making an additional investment, equal to the $5-billion (Rs 25,700 crore) capex under way, to more than double its aluminium production capacity by 2016.
Cipla Ltd after Bayer AG's healthcare unit said it settled trademark infringement cases with Indian drugmaker Cipla and Vanuatu-based website operator Archipelago Suppliers concerning the German drugmaker's pet products.
No comments:
Post a Comment