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WIPRO(Rs.383) & INFY(Rs.2752) are weakest of theBSE IT pack, WIPRO can target Rs.360-345 in near term on downside while INFY below 2740 only weakness would come. INFY is also making a H&S so any rally would be exit opportunity till 2890 is not crossed on closing basis.However, Tech Mahindra can out perform.
Action from Government and Regulator
- FDI in multi brand retail – positive for Pantaloon, Arvind, Raymond
- Insurance bill – positive for Max India, Aditya Birla Nuvo, Bajaj Finserv
- New take over and M&A code – MNC’s will benefit like EIH, Max India, Hotel Leela ventures and IVRCL
Our Top Picks for 2-3 Months perspectives -
ACC, Akzo Nobel, Castrol India, Coromandel International, Gujarat Gas, Grasim, GSFC, IRB Infra, Jagran Prakashan, NHPC, PTC, Standard Chartered IDR
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Equities Uncertainty still prevails
Nifty has support around 5300 levels and if it fails to hold this level for 3-4 days on a continuous closing basis then downtrend will start whereas on upside Nifty has major resistance around 5740 levels if it able to close above 5740 for 3-4 days on a continuous closing basis then it would be break out on a higher side.
Positive Sector - BSE Health Care
RANBAXY(Rs.563) & GLENMARK(Rs.331) look attractive for 8-10% rally in the next 1-2months. RANBAXY 3years high is Rs.624 which can be crossed in near term and GLENMARK can make 34months high crossing Rs.390 so both these stock can be accumulated in dips.
Negative Sector - BSE ITWIPRO(Rs.383) & INFY(Rs.2752) are weakest of theBSE IT pack, WIPRO can target Rs.360-345 in near term on downside while INFY below 2740 only weakness would come. INFY is also making a H&S so any rally would be exit opportunity till 2890 is not crossed on closing basis.However, Tech Mahindra can out perform.
Action from Government and Regulator
- FDI in multi brand retail – positive for Pantaloon, Arvind, Raymond
- Insurance bill – positive for Max India, Aditya Birla Nuvo, Bajaj Finserv
- New take over and M&A code – MNC’s will benefit like EIH, Max India, Hotel Leela ventures and IVRCL
Our Top Picks for 2-3 Months perspectives -
ACC, Akzo Nobel, Castrol India, Coromandel International, Gujarat Gas, Grasim, GSFC, IRB Infra, Jagran Prakashan, NHPC, PTC, Standard Chartered IDR
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