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Indian market view for may series :-
With deferment of the controversial “GARR” by another one year, definitely a lot of uncertainty has been taken off the indian markets, but this is not sufficient to make the Indian stock market totally green for several reasons. First of all Q4 earning sessions are already at the end. secondly due to recent market fall lot of “puts” has been already accumulated. last but not the least, historically month of may has already been proved a dull series, so meaningful recovery is bit difficult in present situation.
Crude oil prices, inflation numbers, RBI policy, monsoon and global cues are the key parameters for the market as well as nifty to trend upwards. The optimistic side of this market that the valuations of some good, fundamentally well and blue chip stocks are quite attractive and cheap now. though, for the time being it is little bit difficult to cross 5300 mark of nifty (spot), and some weekly corrections are still on the card, but the market also can not sink much lower. In lower levels bottom fishing by the fii’s as well as the domestic investors will also take place from time to time.
FREE NSE BSE TIPS
1. Bata India Ltd is a 'BUY' call with a target of Rs 890 and a stop loss of Rs 845
2. JSW Steel Ltd is a 'BUY' call with a target of Rs 770 and a stop loss of Rs 695
3. M&M Ltd is a 'BUY' call with a target of Rs 760 and a stop loss of Rs 705
4. HCL Technologies Ltd is a 'SELL' call with a target of Rs 475 and a stop loss of Rs 510
5. Pantaloon Retail India Ltd is a 'SELL' call with a target of Rs 155 and a stop loss of Rs 172
6. United Spirits Ltd is a 'SELL' call with a target of Rs 670 and a stop loss of Rs 735
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