09:51
MCX Tips
"Stock Trade Tips":-
Domestic Equity Outlook – Profit-booking at higher
levels on weak GDP data
It was yet another volatile day of trade for the Indian stockmarket. Thus,
though the Indian indices continued with the previous sessions'
drive and gained about 1.4% in early part of trade, weak 3QFY2012
GDP data (at 6.2%) soured depositor attitudes ahead of the ECBs LTRO,
thus inviting some profit-booking at the higher levels.
Thus, the Nifty gave up over 100-points intra-day before result its feet, to end the day
with a bordering 0.3% gain. The Sensex too just managed to hold its
ground in the green with a 0.2% gain. Sectorally, the Oil & Gas stocks
witnessed some buying interest with stocks like ONGC (3.6%) gaining
on the back of news of share sale through auction at a better-thanexpected
price.
Positional Pick
- ITC (LTP: 210.6) - BUY
For today's trade, long position can be initiated only in Rs.205-200 range for a target of Rs.221-226, with a closing based stop loss of Rs.196.
Intraday Picks
- OBC (LTP: 277) - BUY
For today's trade, long position can be initiated only in Rs.275-272 range for a target of Rs.284-291, with a strict stop loss of Rs.272. Traders are advised to avoid early morning whipsaw.
- HDIL (LTP: 115.31) - BUY
For today's trade, long position can be initiated only in Rs.114.5-113.5 range for a target of Rs.116.5-121, with a strict stop loss of Rs.112. Traders are advised to avoid early morning whipsaw.
- DRREDDY (LTP: 1642) - BUY
For today's trade, long position can be initiated only in Rs.1623-1611 range for a target of Rs.1650-1660, with a strict stop loss of Rs.1602. Traders are advised to avoid early morning whipsaw.
- HEROMOTOCORP (LTP: 1946) - SELL
For today's trade, short position can be initiated only in Rs.1991-2012 range for a target of Rs.1941-1922, with a strict stop loss of Rs.2022. Traders are advised to avoid early morning whipsaw.
- SUNTV (LTP: 310) - SELL
For today's trade, short position can be initiated only in Rs.313-315 range for a target of Rs.304-301, with a strict stop loss of Rs.323. Traders are advised to avoid early morning whipsaw.
Domestic Equity Outlook – Profit-booking at higher
levels on weak GDP data
It was yet another volatile day of trade for the Indian stockmarket. Thus,
though the Indian indices continued with the previous sessions'
drive and gained about 1.4% in early part of trade, weak 3QFY2012
GDP data (at 6.2%) soured depositor attitudes ahead of the ECBs LTRO,
thus inviting some profit-booking at the higher levels.
Thus, the Nifty gave up over 100-points intra-day before result its feet, to end the day
with a bordering 0.3% gain. The Sensex too just managed to hold its
ground in the green with a 0.2% gain. Sectorally, the Oil & Gas stocks
witnessed some buying interest with stocks like ONGC (3.6%) gaining
on the back of news of share sale through auction at a better-thanexpected
price.
Positional Pick
- ITC (LTP: 210.6) - BUY
For today's trade, long position can be initiated only in Rs.205-200 range for a target of Rs.221-226, with a closing based stop loss of Rs.196.
Intraday Picks
- OBC (LTP: 277) - BUY
For today's trade, long position can be initiated only in Rs.275-272 range for a target of Rs.284-291, with a strict stop loss of Rs.272. Traders are advised to avoid early morning whipsaw.
- HDIL (LTP: 115.31) - BUY
For today's trade, long position can be initiated only in Rs.114.5-113.5 range for a target of Rs.116.5-121, with a strict stop loss of Rs.112. Traders are advised to avoid early morning whipsaw.
- DRREDDY (LTP: 1642) - BUY
For today's trade, long position can be initiated only in Rs.1623-1611 range for a target of Rs.1650-1660, with a strict stop loss of Rs.1602. Traders are advised to avoid early morning whipsaw.
- HEROMOTOCORP (LTP: 1946) - SELL
For today's trade, short position can be initiated only in Rs.1991-2012 range for a target of Rs.1941-1922, with a strict stop loss of Rs.2022. Traders are advised to avoid early morning whipsaw.
- SUNTV (LTP: 310) - SELL
For today's trade, short position can be initiated only in Rs.313-315 range for a target of Rs.304-301, with a strict stop loss of Rs.323. Traders are advised to avoid early morning whipsaw.
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