- Markets across the US and Europe came under pressure on Monday after concerns over the sustainability of the Phase 1 Trade Deal. With Trump driving for a hard bargain, Indian markets could also see pressure on Tuesday.
- We had mentioned about upstream oil stocks and metals and we believe that is where the action could be focused in the coming days. Focus on stocks like ONGC, Vedanta and Hindalco as good commodity plays on recovery.
- FPIs were net buyers to the tune of Rs.896 crore while DFIs sold Rs.425 crore on Monday. It does look like the FPIs may be turning slightly risk-on after the trade deal first phase. The next few days of flows could be crucial.
- Markets across the US and Europe came under pressure in the second half after there were doubts cast over the sustainability of the trade deal given Trump bargaining hard. Indian markets could face pressure at higher levels.
- The dip on Monday should be used to accumulate more of Infosys considering its exceptionally strong guidance for the coming year. One can look at buying Infosys in the range of 785-788 for upside targets of Rs.850 and Rs.900 in a month.
- Traders who are long on Bharti Airtel should look to take profits off the table after the stock has almost rallied to the Rs.400 levels in a short span of time. Despite the war chest, the margin issue remain at Bharti Airtel.
- We reiterate our buy call on Biocon as our top pick in the pharma space and suggest accumulating the stock in the range of Rs.255-260 for upside targets of Rs.300 in one quarter on strong pipeline.
- Today could be a crucial day to watch out at higher levels. Global cues from the US and Europe has not been too positive and Asia could hold the key.
