Gulf crisis, US Fed to guide markets F&O STOCK SCAN
the Middle East, liquidity conditions in the market and overall investment trend of foreign funds will largely dictate the near term trend.
Keep track of Q4 earnings, fiscal deficit data and manufacturing PMI. For the holiday shortened week, chartists predict a trading range of 26,850 and 27,800 for the Sensex, and 8,170 and 8,450 for the Nifty. Immediate supports are at 27,250 abd 27,000 and 8,270 and 8,200.
Punters advice shortterm traders to sell on rallies as the near-term trend looks bearish. However, medium to longterm investors can start accumulating good stocks with visibility of earnings, as valuations have turned attractive after the recent sell-off. It is the most responsive to change that survive. Markets change continuously and so must investors. What worked before may very well not work today.
Mazda Ltd operates in engineering and food divisions. It offers various vacuum systems including thermo compressors, feed water heaters, surface condensers, liquid jet liquid ejectors, steam jet liquid heaters and mixers, single/double stage liquid ring vacuum pumps, and others. The company serves power, fertilisers, chemicals and bulk drugs, refineries, sugar and food, pulp and paper, and other industries. It has a strategic alliance with US-based Croll-Reynolds Inc. Buy on declines for a price target of `450 in the medium term.
Jyothy Laboratories manufactures and markets fabric whiteners, soaps, detergents, mosquito repellents, scrubbers, and incense sticks primarily in India. It operates through four segments: Soaps and detergents, home care, laundry services, and others. Leading brands of the company include Ujala Maxo, Exo and others. It sells personal care products, laundry products and others under the Pril, Henko, Fa, Margo, Mr. White, and Chek brand names. Buy this diversified FMCG company for a target price of `450 in the medium term.
Hi-Tech Gears manufactures and sells auto components in India, the Americas, and internationally. The company also provides engineering software solutions and also offers services in the fields of industrial design, product design and engineering, engineering analysis, machine design and factory automation, and software services. Buy the stock on declines for a target price of `500 in the medium term. It was a disappointing settlement week and month for bulls. Nifty almost corrected six per cent to its lowest level in two months. Sentiment indicators like implied volatility, open interest, put/call ratio and VIX suggest a technical bounce. With markets closed for two days in the coming week on account of Mahavir Jayanthi and Good Friday, volumes are likely to be subdued in the derivative segment.
Weakness may persist in PSU bank stocks. YES Bank and Kotak Bank look good at current levels. Keep track of monthly auto sales numbers. Gains likely in Ashok Leyland and M&M.
Buy TCS and Infosys for ‘results’ action. Pullback rally likely in capital goods counters. Buy L&T and Siemens. Industry sources suggest buying cement stocks for short term summer rally.
Stocks looking good are Allahabad Bank, Century Textile, Dish TV, ICICI Bank, IOC, Lupin, M&M, Tata Motors and United Phosphorous.