There is Bullish on IT services sectors and the companies in the sector are expected to deliver earnings growth of at least 15 per cent in FY017. They will also benefit from the rupee depreciation.
Trading was halted in China markets after the benchmark Shanghai Composite index sank about 7 per cent on Monday, leading to a sell-off across the Asian region. China had banned shareholders with holdings of more than 5 per cent in a company from selling shares in July as part of efforts to stem a rout that wiped trillions off market capitalisations.
For today Prefer IT, Private Bank, Auto Stocks Told by Kinjal
BUY HUL near 867-865, Maintain stop below 862 or below 859, tgts 872, 875 and 879.
After getting clearance signal from CRZ and Forest Department, Mumbai Trans Harbour Link Project will be live very soon. The companies like Jai Corp, Indiabulls Realty and Ashok Leyland are getting the benefits of this approval. Expert says, long term investment in these stock would be great.
RBI Infrastructure has got the biggest road transport project of worth 10050 crore Rupees. In this project, the company has to build the biggest tunnel of South Asia in Jammu & Kashmir.
Expert Advice to Buy RBI Infra above: 260.02 Targets: 263.93 – 268.01- 272.11 and Stoploss : 256.00
The US dollar has returned strong gold sheen. Tuesday’s trading session gold has dropped after two days of gains. The Comaks gold ounce has fallen to 0.30 per cent in 1077. However, silver fell 0.50 percent to $ 14.25 per ounce level.
Experts say that in the last two days of recovery in the gold price had climbed to 2.5 per cent, but the rebound in the dollar index, gold prices have again deepened. HSBC analyst James Steel said that the world’s largest gold ETFs SPDR holdings on Friday bought 19 tonnes. Shopping is the biggest in two months. However, holdings of ETFs is still at 7-year lows.
BUY CRUDE OIL AT Current market price 2412, Stoploss 2377, Target 2465
BUY COPPER 315.10 TARGET 317.50 – 320 STOPLOSS 313
Precious metals rose more than 1 percent on Monday as weaker than expected U.S. data and uncertainty about how fast the Federal Reserve will tighten interest rates next year weighed on the dollar.
SPDR Gold Trust GLD, the world’s largest gold-backed exchangetraded fund, said its holdings stood at 645.94 down 2.97 tonnes, from previous business day.
Holdings of the largest silverbacked exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 10017.81 tonnes, remain unchanged from
previous business day.
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