Equity benchmarks opened marginally lower on first day of the week led by Infosys. The Sensex fell 5.64 points to 28452.46 and the Nifty declined 5.30 points to 8533.
About 742 shares have advanced, 316 shares declined, and 65 shares are unchanged on the BSE. Infosys plunged more than 3 percent after 3.3 crore shares traded in multiple blocks on BSE, NSE in early trade. TCS, Sesa Sterlite, IndusInd Bank, HCL Technologies, Hero Motocorp and Bajaj Auto were marginally down. However, Jindal Steel, Coal India, UltraTech Cement, ITC, Asian Paints, BHEL, Sun Pharma and Bharti Airtel gained 0.7-1.5 percent.
In the broader space, SpiceJet plunged nearly 9 percent after sources told CNBC-TV18 that Directorate General of Civil Aviation (DGCA) withdrew 186 slots of company.
The Indian rupee slipped in the early trade. It has opened lower by 21 paise at 61.98 per dollar versus 61.77 Friday.
Stock recommendation for 8/12/2014 is ITC ltd. In today’s trading session it was up by 2.14%. Its long term trend is up. On the daily chart, it has given upside breakout with good volume. Stochastic oscillator has also given buying confirmation.
Our recommendation on ITC.ltd. is LONG above 390 for the Target of 400-420.
Intraday Stock Tips:
• BUY JBF INDUS (LCP-273.5) ABOVE 275 TG-279-284
• BUY TV TODAY (LCP 222.55) ABOVE 224 TG-227-231
• BUY AJANTA PHARMA (LCP 2515.55) ABOVE 2520 TG-2540-2570
• BUY MONSANTO (LCP-3192.85) ABOVE 3200 TG-3220-3250
Money CapitalHeight is an ISO 9001-2011 Registered Company. We are a leading Research Company, having a strong hold in providing most authentic and accurate stock and share market tips. Visit our Site www.capitalheight.com for Accurate stock tips, commodity tips, mcx tips, nifty future tips & Premium services or call at 0731-6615050, 9993066624