Buy Tata Communications, Siemens India Today: Sanjeev Bhasin The Nifty is likely to open higher tracking strong Asian markets on Wednesday. However, the second half of trade may witness profit booking and the Nifty may consolidate with 8,450 acting as resistance. The weakness in the rupee has led to selling from foreign investors. The sharp fall in oil prices will lead to renewed strength in financials and mid cap stocks may outperform the benchmark Nifty. Calls with one month outlook: 1) Buy Tata Communications: 440-450, 1 month target 550-575. The company is aggressively investing in cloud computing. Strong order flows are anticipated. The realisation of land bank will see higher than anticipated dividend for small shareholders. 2) Buy Siemens India: 930-940, 1 month target 1150-1175. The company is seeing strong traction in order book amid expansion by state electricity boards. The stock is the best play in capital goods sector. The parent company in process of infusing capital in domestic business. Previous trades: Buy Tata Motors: 540-545, stop loss 529, target 575 Buy Union Bank: 220-224, stop loss 215, target 236 Buy Dr Reddys Lab: 3435-3450, stop loss 3365, target 3565 Buy Reliance Industries: 965-975, stop loss 946, target 1030 Sell Ranbaxy Lab: 655-665, stop loss 682, target 620 Sell BPCL: 735-745, stop loss 759, target 702 We have also upped the target on our long SBI trade initiated at 2745 to 3050, with stop profit at 2850.
Posted on: Wed, 19 Nov 2014 06:23:20 +0000
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