News of the day :
Key benchmark indices edged lower after Reserve Bank of India (RBI) Governor Raghuram Rajan said that the commencement of tapering by the US Federal Reserve will mean a repricing of certain assets with consequent volatility in the global financial markets and that a potential additional source of uncertainty for India is the coming general election. The barometer index, the S&P BSE Sensex, was provisionally down 63.02 points or 0.3%, up about 40 points from the day’s low and off close to 175 points from the day’s high. Investor sentiment was hit adversely after the RBI’s latest financial stability report (FSR) said that the risks to the Indian banking sector have further increased since the publication of the previous FSR in June this year. NSE’s INDIA VIX, was up 2.86% level, at 15.08. Amongest the Indices CNX SMALLCAP was down 0.19 % closed at 3,387.05.
Stock Specific news :
SML Isuzu to raise prices by 2-5%
Welspun to exit from JV with Leighton for $99 million
Adani Power Board approves demerger of transmission business
JSW Steel hits three-year high on promoter stake buy
Nickel up 0.3% on higher demand
Crude palm oil up 0.1% on spot demand
Crude oil down 0.1% on mixed Asian cues
Aluminium up 0.1% on spot demand, short-covering
Silver down by 0.7% on global cues
Sesa Sterlite gains on resumption of mining operations at Karnataka.
NOTE : AFTER 1ST TGT HIT KINDLY REVISED SL TO COST PRICE !
CALLS
BUY TATA MOTORS 374.50 SL 371 TGT 378 / 382.50
BUY GAIL 341.50 SL 337.50 TGT 345 / 349.50
SELL DABUR 171.50 SL 174 TGT 168.50 / 165
SELL ONGC 289 SL 293 TGT 285.50 / 281
DISCLAIMER : THE AUTHOR IS NOT RESPONSIBLE FOR ANY LOSSES DURING ANY TRADE
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