Positives:
Greece bailed-out.
USA markets higher on the back of good data.
Crude oil prices rising on the back of recovery.
Several stocks including Tata Motors, etc making yearly highs, new highs. Non benchmark indices such as Midcaps sustaining themselves.
Several stocks still in upper freezes.
Finance bill passed.
Many companies announcing good results.
Many FIIs and foreign experts such as Tyche etc recommending shift of inflows from developed markets to emerging markets.
Temasek acquires 5% stake in NSE.
Many companies plans huge capex in FY2011 such as NTPC plans $2.88bn, Essar Group, Jindal Group etc. Even Telecom players in queue.
The money that FIIs have pumped in beats the previous record of $4.21 billion that came in during January-April in 2004.
Negatives:
If RIL loses case then negative sentiment possible due to major share of oil and gas revenue for RIL.
Inflation becoming cause of concern.
Ultratech, South Indian bank, united bank, and some other companies reported discouraging quarterly results.
China further tightens monetary stance by rising reserve requirement afresh.
Pressure on metal stocks on the back of pressure on global metal prices such as copper, nickel, aluminum etc.
Some on the move Recommendations:
Buy ESCORTS intraday CMP 183, TGT 184.80, 186. Short-term TGT is 192-196.
Buy HCL Technologies Ltd, CMP 399, TGT 416, 436. SL 383.
Patni Computers, CMP 566, Takeover on the cards, Charts suggests buy on declines as well. Keep your choice of SL. Technical Targets are 586, 624.
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