Snapping 5-day losing streak, the domestic equity markets had ended in the green on Wednesday as the National Stock Exchange (NSE) and the BSE remained closed for trading on Thursday on account of Republic Day.
Snapping 5-day losing streak, the domestic equity markets had ended in the green on Wednesday as the National Stock Exchange (NSE) and the BSE remained closed for trading on Thursday on account of Republic Day. Benchmarks Nifty50 and the S&P BSE Sensex had staged a bounce back in the late afternoon trade on Tuesday, led by auto and banking stocks. The Nifty50 has closed above 17,200, while the 30-share Sensex gained nearly 400 points to end near 57,900. Broader markets indices Nifty Mid and Small Cap outperformed the benchmarks at the Tuesday’s closing as the indices registered growth by 1 per cent. The 12-share index Nifty Bank grew over 2 per cent, aiding the strength in Nifty50.
On Thursday morning, Asian markets were trading lower in the morning trade after Fed hinted at rate hike around March. Major Asian market indices traded negative as Japanese Nikkei 225 declined over 2 per cent, Hang Seng Index at the Hong Kong Exchange traded lower by 1.50 per cent and Shanghai Composite was trading with loss of 0.30 per cent.
Meanwhile, SGX Nifty hinted at negative opening for the Indian market as the futures index at the Singaporean exchange traded lower by massive 241.50 points or 1.40% to 16,979.50 around 7.30 am.
Tracking the US Fed meeting, the Wall Street indices gave up gains to end negative on Wednesday. Dow Jones dropped 0.38%, S&P 500 declined 0.15% and Russell 2000 was down 1.38% in Wednesday’s closing.
Ahead of the market open, Zee Business research team has shortlisted 20 stocks from cash, F&O and techno segments. These stocks have been identified to help investors make money in intraday, positional and large-term trade. Below is the list of stocks for Thursday.
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Ashish Chaturvedi Stock Picks
CASH STOCK
BUY ASTEC LIFE TARGET 1820 SL 1702
FUTURES
SELL TOREENT PHARMA TARGET 3070, SL3160
OPTIONS
BUY MFSL FEB 880 PE TARGET 44 SL 33
TECHNO
BUY IDFC LTD TARGET 66 SL 57.40
FUNDA
BUY UNITED SPIRITS TARGET 960 DURATION 2 MONTHS
INVESTMENT PICK
BUY OIL INDIA TARGET 270 DURATION 9-12 MONTHS
STOCK IN NEWS
BUY PNC INFRA TARGET 288 SL 274
MY CHOICE
BUY ICRA TARGET 3550 SL 3410
BUY RAYMOND TARGET 815 SL 774
SELL CANFIN HOMES FUT TARGET 580 SL 605
MY BEST
BUY IDFC LTD TARGET 66 SL 57.40
Read more: IPO-bound LIC posts Rs 1,437 crore net profit during April-September
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Varun Dubey Stock Picks
Cash
Buy Nirlon Target Rs 380 SL RS 356
Futures
Sell Wipro Target Rs 545 SL RS 570
Options
Buy Apollo Hospital 4500 PE Target Rs 350 SL Rs 240
Tech
Sell Astral Ltd Target Rs 2050 SL RS 2130
Funda
Buy Emkay Global Target Rs 113 SL RS 106
Invest
Buy Devyani Intl Target Rs 200 Duration 3 to 4 months
News
Buy ABB Target Rs 2496 SL RS 2352
My Choice
Buy Intellect design Target Rs 750 SL RS 710
Buy Fino Payment Target Rs 406 SL RS 383
Buy Vedanta Target Rs 330 SL RS 311
Best Pick
Buy Emkay Global Target Rs 113 SL RS 106
