Breaking away from two-day weakness, the Indian markets ended strong on Monday
Breaking away from two-day weakness, the Indian markets ended strong on Monday. Benchmarks Nifty50 closed above 17,650 and Sensex added more than 400 points.
Concerns about the global economy, which is struggling with high inflation and recession, were stoked by mixed job data from the US and a worsening energy situation in Europe, said Vinod Nair, Head of Research at Geojit Financial Services on his market closing commentary.
He said strong employment in the US will give Fed the confidence to raise interest rates by another 50–75 bps in the forthcoming policy meetings.
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“In anticipation of decrease in output, oil prices increased prior to the OPEC+ summit. Meanwhile, none of these has impacted the domestic market, which continues to hold an upbeat outlook, bolstered by strengthening local economic statistics and rising corporate demand,” he said.
On Tuesday, early trends from SGX Nifty and Asian markets remained positive. SGX Nifty rose by 20 points on the Singaporean exchange in early trade on Tuesday. Japanese Nikkei 225 was trading higher by 0.20%, Hang Seng Index at the Hong Kong Exchange was marginally up by 0.10 %, while the Chinese Shanghai Composite gained almost half per cent in early trade on Tuesday.
The US markets will resume normal trading on Tuesday after staying closed on Monday due to Labor Day. The US markets had closed in the red on Friday.
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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Vaun Dubey Stock Picks
Cash
Buy OIL INDIA Target Rs 200 SL Rs 190
Futures
Buy APOLLO TYRES FUT Target Rs 265 SL RS 250
Options
Buy INFOSYS 1460 PE Target Rs 50 SL RS 30
Tech
Buy SHEELA FOAM Target Rs 3350 SL RS 3200
Funda
Buy BALRAMPUR CHINI Target Rs 400 Duration 1 Month
Invest
Buy PRATAAP SNACKS Target Rs 950 Duration 4 Months
News
Buy NARAYANA HRUDAYALAYA Target Rs 735 SL RS 695
My Choice
Buy GNA AXLES Target Rs 775 SL RS 735
Buy SOLAR IND Target Rs 3600 SL Rs 3450
Buy GRM OVERSEAS Target Rs 410 SL RS 390
Best Pick
Buy PRATAAP SNACKS Target Rs 950 Duration 4 Months
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Ashish Chaturvedi Stock Picks
CASH
BUY CDSL TARGET 1360 SL 1280
FUTURES
BUY CANARA BANK TARGET 252 SL 242
OPTIONS
BUY INDUSIND BANK 1110 CE TARGET 46 SL 34
TECHNO
BUY BRIGADE ENT TARGET 555 SL 527
FUNDA
BUY MIDHANI TARGET 256 DURATION 6-9 MONTHS
INVEST STOCK
BUY TTK PRESTIGE TARGET 1260 DURATION 9-12 MONTHS
STOCK IN NEWS
BUY DELHIVERY TARGET 580 SL 560
MY CHOICE
BUY MUNJAL AUTO TARGET 57 SL 53.55
BUY FDC TARGET 290 SL 277
BUY RICO AUTO TARGET 58.50 SL 54.65
MY BEST
BUY BRIGADE ENT TARGET 555 SL 527
