- With the government announcing higher MSP for Rabi crops, the agri stocks could be in the limelight. This includes companies making agro chemicals, hybrid seeds, fertilizers, tractors and other farm related products.
- BREXIT continues to live in uncertain zone with the EU refusing to commit itself on the deadline of 3 months. The decision of Johnson to push early elections is also going to add to the worry over a chaotic BREXIT.
- FPIs were net sellers to the tune of Rs.213 crore while DFIs sold Rs.138 crore on Wednesday. A clear picture of the nature of the flows of domestic and foreign investors will only emerge post the BREXIT decision this month end.
- Barring Hang Seng which was sharply down, most of the other markets were flat to positive in trades. The US and UK markets also stayed buoyant. The SGX Nifty is marginally up on Thursday and expiry blues could be a core issue.
- We reiterate our strong buy on Infosys despite the recent whistle blower concerns, we continue to be positive. Those who are long should hold on and use dips to accumulate more of the stock at lower levels. Target buys range 600-650.
- We sustain our short call on Zee Entertainment and suggest selling in the range of Rs.240 to Rs.250 for downside targets of Rs. 210 and 195 in the next couple of weeks. We expect selling pressure to pick up in Zee group stocks.
- After the positive quarterly results announced by JSW Steel, traders can look to accumulate the stock in the 220-225 range for initial targets of Rs.250 and 3 month targets of Rs.280 on the stock.
- Markets are likely to remain volatile on Thursday due to the expiry and the expected cues coming from the BREXIT front.
