Pressure increased on asset quality of Axis Bank after the announcement of quarterly earning results yesterday. The Bank NPA raised, and it is not likely to rise further. Share is trading at 406.60 with a gain of 4.62%. Buy above: 410.06 Intraday Target 430.34.
Idea cellular Q3 results will announce today and there is no expectation of much better results. We do not expect a rally in the stock because Reliance Geo will affect Idea Cellular business. The share is trading down.
Biocon results will announce today, it is good company on R&D, currently the shares are undervalued but traders should not leave the opportunity to buy this stock. Buy this share for Long-term.
The Indian share market comes down to 52 weeks lower level, Bank Nifty down 350 points. Global market weakness impacts on the domestic market. Nifty is trading near 7314 slipped 1.61% while SENSEX declines 1.58%.
Market eyed on quarterly results of Axis Bank and Ultratech cement. Big decision possible in the cabinet meeting today, the meeting focused on new power tariff policy and Compost policy.
Stocks in the news today:
Suzlon/SJVN/Orient Green power: The cabinet will announce new tariff policy.
BPL/ Opto circuit: Government may increase customs duty on some medical equipment.
Reliance industries standalone profit raised 10% while income decreased 7%.
Commodity advice: Gold is trading slightly weak while silver gained 1%. Sell Gold February future at 26250, and Crude Oil January future at Rs 2100.
Both benchmark index Nifty and SENSEX closed positive with a gain of 1.14% after three days down trend. Midcap and Small cap shares were in buying trend today, infra, Banking, Auto, energy and Pharma shares were in buying trend also.
Crude oil volatile in the commodity market, Natural gas down. Gold fall again at MCX Gold is trading below Rs 26000, Silver price also under pressure.
Gold MCX February future Buy at above 25900. Buy Silver near 33800-33900.
Outstanding of Sugar Mills has reduced considerably from Rs 21000 crore to Rs 2700 crore on farmers. Shares of Bajaj Hindustan sugars trading with a marginal gain.
Zee entertainment, NIIT tech and Indian Hotel will announce their Q3 results today. Mahindra KUV1OO will launch all over India.
Makar Sankranti Experts Recommendations on shares
Voltas Buy for 1 year with a target of Rs 353.
Firstsource Buy for 6-9 month with a target of Rs 45.
Asian Paints Buy till expiration target Rs 940 stop loss Rs 865.