Delivery:BUY PUNJLLOYD@77 TGT:79-81 SL:74,
BUY CHEMFALKAL @48 TGT:50-52 SL:45,
BUY RAINBOWPAP@61 TGT:63-65 SL:58 [3-5 DAY HOLD]
[TIME:8.44AM 8-7-2011]
Market beeps 08-07-2011
Stocks on WallStreet advanced Thursday, lifting benchmark indexes near their 2011 highs, as encouraging data on jobs and retail sales suggested the economy was riding out a recent rough period.
News Bytes
* MSCI revision: ICICI, TCS may lose; RIL, Infy to gain
* Food inflation falls to 7-week low of 7.61%
* SBI to seek govt nod for rights issue this month
* Adani Power okays merger of Growmore with itself
* Maruti stops Swift production, new version by Sept
* Tata Motors to start operations of CV assembly plant in Africa
* Tech Mahindra bags IT contract from Microsoft
* SKS Microfinance hopes to get back Rs 1,250 crore dues
* Sun TV stock tumbles after Maran quits
* L&T Finance raises Rs 330 cr via pre-IPO placement
Markets : Upmove to extend
We expect stocks to inch up further on the back of consistent inflows from FIIs. Midcaps will be in favour today as investors are likely to pounce on beaten down stocks.
We believe Realty to be the hot spot in the next two years. We recommend investors to not to miss this rally.
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