The broader markets indices traded mixed wherein midcap edged higher by a percent while smallcap index closed almost unchanged.
The Indian markets snapped two-day declining trend to end in the green on Wednesday as both Sensex and Nifty50 closed nearly 1 per cent higher led by pharma and banking stocks. The former gained almost 550 points to 55816 levels and the latter surged nearly 158 points to 16642 levels.
Amongst the sectors, except Telecom, all the other indices ended in green wherein Capital Goods, Metal and IT were the top gainers. The broader markets indices traded mixed wherein midcap edged higher by a percent while smallcap index closed almost unchanged.
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“Markets will react to the outcome of the US Fed meet in early trades. Besides, the scheduled expiry of the July month derivatives contract and earnings announcements would keep the participants busy,” Ajit Mishra, VP – Research, Religare Broking Ltd
Mishra reiterated to focus on sectors/themes which are relatively strong and utilise intermediate correction to accumulate during Thursday’s trade.
The US Federal Reserve for the second time in a row, hiked the benchmark interest rate by 75 basis points, to which the US markets reacted positively as Dow Jones surged almost 1.4 per cent, while S&P 500 and Nasdaq jumped by 2.6 and over 4 per cent during Wednesday’s session.
Taking a cue from US markets, all Asian key indices are surging in the trade, as Japan’s Nikkei is up nearly 0.2 per cent, while Hong Kong’s Hang Seng up almost 0.3 per cent and China’s Shanghai up almost 1 per cent.
Meanwhile Zee Business brings you a list of 20 stocks from cash, techno and F&O space. These stocks have been picked keeping in view investors’ short-to-long term requirements. The list also comprises intraday calls for good returns on a given day. Below is the list of stocks.
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Stocks recommended by Ashish Chaturvedi
CASH KA STOCK: BUY ELANTAS BECK TARGET 4200 SL 4000
FUTURES: SELL BIOCON AUGUST TARGET 316 SL 327
OPTIONS: BUY COAL INDIA AUGUST 205 CE TARGET 9.45 SL 4.75
TECHNO: BUY INOX LEISURE TARGET 605 DURATION 1 MONTH
FUNDA: BUY SCHAEFFLER INDIA TARGET 2650 SL 2450
INVEST STOCK: BUY INDIAN HOTELS TARGET 300 DURATION 1 YEAR
STOCK IN NEWS: BUY NOVARTIS TARGET 680 SL 640
MY CHOICE:
BUY SAIL TARGET 77.50 SL 75.20
BUY POONAWALLA TARGET 280 SL 265
BUY VIP IND TARGET 670 SL 640
MY BEST: BUY SAIL TARGET 77.75 SL 75.20
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Stocks recommended by Kushal Gupta
CACH: EIH LTD – Buy – 155, sl – 145
FUTURES: TATA MOTORS AUG FUT – sell – 433, sl – 452
OPTIONS: INTERGLOBE AUG 1760 CE@ 95 – buy – 120, SL – 85
TECHNO: WIPRO AUG FUT – Buy – 421, SL – 404
FUNDA: MAHINDRA HOLIDAYS – buy – 235, sl – 225
INVEST: PVR – Buy – 2500, Duration – 1 year
STOCK IN NEWS: BLUE DART – Buy – 8500, sl – 8200
MY CHOICE:
BATA BUY TGT 1875, SL 1810
GENUS POWER BUY 81, SL 75
HAL TGT 2000, SL 1910
BEST PICK: MAHINDRA HOLIDAYS buy – 235, sl – 225
