Market Watch

Wednesday 1 April 2015

Stock Market Opening Bell & Recommendations— Sensex, Nifty flat; HCL, Infosys, SBI decline


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The market has opened on a flat note. The Sensex fell 37.28 points to 27920.21 and the Nifty declined 21 points to 8470. About 380 shares have advanced, 249 shares declined, and 79 shares are unchanged on the BSE.  
SBI, Infosys, Hindalco Industries, Wipro, GAIL, HCL Technologies and NMDC fell 1-2.5 percent while Dr Reddy's Labs, TCS, ONGC, NTPC, Sesa Sterlite, Tech Mahindra and Kotak Mahindra gained 0.3-2 percent. 
The currency market is closed today on account of banks' holiday.
 Among global markets, in the US equities closed lower, giving up most of Monday's gains, as investors eyed mixed economic data and the end of the first quarter.
 In Asia, cautious sentiment also prevailed after a weaker-than-expected reading of sentiment among Japanese corporates.
Stock recommendation for 1/4/2015 is Beml ltd. In today’s trading session it was up by 2.85%. Its long term trend is up. On daily chart it has given upside breakout. Stochastic and RSI has also given buying confirmation. On daily chart its short term support level is 1075. All the indicators are suggesting that one can go for long position in this stock above 1110 levels. The stock may test level of 1150-1170 in coming days.
Our recommendation on Beml ltd. is LONG above 1110 levels for tg of 1140-1170.
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