- Nifty on Monday scaled past the 39,000 mark backed by short
covering and selective allocation. However, the Nifty failed to sustain at
higher levels and had to give up gains.
- We see pressure building on the Zee group stocks on Tuesday
after the promoters sold heavily on the counter. The promoters are currently
facing a severe cash crunch and have been looking to hive off assets to raise
funds.
- FIIs were net buyers to the tune of Rs.890 crores while DFIs sold
Rs. (-1033) crore on Monday. FPIs have been consistently buying into the Indian
markets and have now infused over Rs.50,000 crore in the month of March alone.
- Markets across Asia, Europe and the US were strong on Monday
after China reported a sharp improvement in the PMI-Manufacturing. SGX Nifty is
also in positive territory and looks set to scale closer to the 11,800 mark
shortly.
- Zee Group remains our big short for now. We have been
negative on Zee Entertainment and Dish TV for quite some time on their
infrastructure plays and we see both stocks dipping sharply. Play accordingly.
- NTPC continues to be the dark horse in trade today with the
company most likely to benefit from the availability of power generation
capacity at reasonable rates once they are referred to NCLT. That is likely to
happen in the next fiscal.
- We see the stock of Tata Motors showing faster turnaround
after better numbers from JLR came in. We expect the stock to scale levels of
Rs.250 in the next one quarter as it makes up for a long period of
underperformance.
- The New Year has begun on a positive note and we expect the Nifty to stay buoyant. Buying on dips could be a much better strategy in this case.
