After a surprising performance on week’s first trading session, the Indian Stock Market seems under pressure and dealing low, while the Small Cap and Mid Cap sectors are rising high today. Along with the Capital Goods & Fmcg, the Banking Sectors are trading poorly, while Auto Sectors are highly paced up. Cancer causing agent Potassium Bromate has been found in the Bread, so the Government has banned the use of Potassium Bromate. Bread manufacturing companies likeJubilant Food and Britania Industries have been moving down after the announcement.
Sell Jubilant Food below: 1056.25 Targets: 1048.66 — 1040.58 — 1032.53 —Stoploss : 1064.39
Sell Britania Industries below: 2575.56 Targets: 2564.17 — 2551.53 — 2538.91Stoploss : 2588.27
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Asian Market has been opened with a sharp gaining trend onset of Wednesday’s trading session. Asian market jumped after the US has shown good sales figures. Japan’s benchmark Nikkei is up by 300 and the Hang Seng index has jumped more than 500 points today.
The S&P BSE Sensex rallied over 400 points in morning trade on Wednesday led by gains in HDFC, Infosys, HDFC Bank, TCS, and ICICI Bank. The Nifty50 reclaimed its crucial resistance level of 7,850 supported by gains in IT, realty, power, capital goods, banks, and auto stocks.
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After a weak opening the Indian Stock Market is moving flat in the morning trade of Tuesday trading session. Sensex is trading at 25245.51 with the lead of 15.15 points and Nifty is trading at 7735.30 with the lead of 4.25 points. The price of Rice has been increased by 1.5%. Due to drought there are big chances of less rice production this year. Nalco and Iran’s IMIDRO have agreed to establish a aluminium smelter in Iran. It would definitely be a good news for long term investor in Nalco’s Stock.
Buy Kohinoor Foods above: 64 Targets: 65.98 – 68.02 – 70.1 Stoploss : 62.0
Buy Nalco above: 42.25 Targets: 43.86 – 45.53 – 47.24 Stoploss : 40.64
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By getting strong buying signals from Asian and USA market Indian equity market also start its trading on a bull note today. But equity market pared all gains after rising over 100 points in early trade. Now Sensex is trading at 25460 down by 28 points and trading on a range bound. on the other hand Nifty is also trading on a flat trend. NSE Nifty is at 7807 down by 7 points.
A negative impact of news of delay in monsoon will also affect the market. In this case investors are advised to invest in Tata Steel, SBI, Bank of Baroda, Prism Cement, M & M Financial to make some good earnings.
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