• Indian markets ended green. Nifty and Sensex up by 1.05% and 1.04%.
• Asia-Pacific mrkts mixed. Hang Seng down by 0.20% and Nikkei up by 0.98%
• Wall Street up.EUR final core CPI stood at 0.6%.Dow futures up by 107 pts.
The market rallied in early trade following the dovish statement from the US Federal Reserve. The Sensex rose 187.74 points to 28809.86 and the Nifty rose 47.65 points to 8733.55.
About 617 shares have advanced, 102 shares declined, and 81 shares are unchanged on the BSE.
The Fed also noted that the change in rate guidance did not mean the FOMC had decided on the timing of a hike. Jannet Yellen added that the timing of initial increase in target range will be data dependant. Back home, banking & financials, capital goods, auto, pharma and metals stocks gained. However, NTPC was the only loser on Sensex, down 1.4 percent.
Stock recommendation for 18/3/2015 is Beml ltd. In today’s trading session it was up by 7%. Its long term trend is up. On daily chart it has given upside breakout with long bullish candle. Stochastic and RSI has also given buying confirmation. On daily chart its short term support level is 1070. All the indicators are suggesting that one can go for long position in this stock above 1100 levels. The stock may test level of 1140-1180 in coming days.
Our recommendation on Beml ltd. is LONG above 1100 levels for target of 1130-1150.
The Indian rupee gained in the early trade following outcome of the Federal Reserve two-day meeting. The currency has opened higher by 31 paise at 62.38 per dollar against 62.69 a dollar Wednesday.
Stock Trading Tips for Today:
BUY TATA ELEXI (LCP-1210.15) ABOVE 1215 TG-1223-1232
BUY TATA SPONGE (LCP 834.35) ABOVE 837 TG-845-853
BUY BEML (LCP 1107.55) ABOVE 1112 TG-1119-1127
BUY EXCEL CROP (LCP-905.35) ABOVE 908 TG-914-922
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