Opening Bell 05Jan11

 

Date 04^th Jan  2010                                                                        Powered by Bazaaredge.com

 

Market Outlook

India was among the weakest performers today even as market in Asia and Europe continued the good work of the recent days. Among the factors acting against India at the moment is high inflation, rising interest rates, expensive valuations, lack of reforms in government issues. In coming days focus on earnings, economic reports and RBI action.

 

Market is expected to consolidate in a range of 6225 and 6135 levels.

Intraday Calls

Buy Glenmark cmp 365 stoploss 361 target 371

Buy Zyduswellness cmp 621 stoploss 590 target 692

Buy MBECL cmp 226 stoploss 216 target 240

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Positional Calls

Buy Mandhana cmp 312 stoploss 286 target 340

Buy Ramky cmp 321 stoploss 316 target 328

Buy Mangalamcem cmp 136 stoploss 132 target 146

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Technical Fundamental Calls

Everest Industries The building product segment is expected to record equentially lower volume this quarter, however volumes are expected to improve after December driven by rural demand.

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Investment Picks

KPIT Cummins Infosystems (KPIT) is a mid-tier domain-focused IT company, which is riding on the recovery of its anchor vertical, i.e., manufacturing. The company is back to reporting an 8.7% CQGR in its revenue over 2QFY2010

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Future & Options Strategy

Sell BankNifty cmp 11612 stoploss 11900 target 11150

Buy BRFL cmp 205 stoploss  200 target 216

Buy Mcleod Russel cmp 219 stoploss 217 target 223

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