- Nifty once again faced resistance at the 12,000 level on Thursday as the weekly options expiry also brought some late volatility into the markets. The Nifty had breached 12,000 for the fourth time during the year.
- The trade deal continues to be elusive as both China and the US have been sticking to their individual stands on specific matters. Oil has been rising on Middle East tensions and that is not great news for India.
- FPIs were net buyers to the tune of Rs.5024 crore while DFIs sold Rs.248 crore on Thursday. This is inclusive of the Zee block deals but it has taken the total FPI inflows in November closer to Rs.25,000 crore.
- The US markets and the European markets corrected on Thursday on trade deal worries as the uncertainty continued. However, Asia has been largely in the positive on expectations that the China stimulus should gain momentum.
- If you have sold Zee this is the time to top up your short positions on the stock. With the company shifting to the hands of financial investors and promoters and promoter role minimal, the stock is likely to face pressure at these levels.
- We have been suggesting DLF since the level of Rs.160 and we suggest adding more at around Rs.215 as the company looks to go zero debt by the next year. This is likely to be a big boost for valuation of the stock.
- Adopt a phased approach to buying into BPCL. Use ever correction to buy into the stock, which still looks good to get back to above Rs.700 over the next one year if the oil prices remain around the $60/bbl levels.
- The global markets will be the key ahead of the week end but Indian markets are likely to remain cautious on Friday.
