Nifty may open marginally lower today tracking weakness in Asian markets. However, crude prices are still at record low and this could prompt buying in second half of the session, as markets are relatively oversold in the short term.
Also December blues are seeing most markets succumb to profit booking, as traders opt to lighten positions ahead of the holiday season.
For today we are suggesting 2 buy calls for next 4 days as under:
1) Buy Coal India: 362-365, stop loss 354, target 378
2) Buy Hindustan Petroleum: 565-569, stop loss 542, target 586
We are also carrying our previous trades as under;
1) Buy ACC: 1490-1505, stop loss 1460, target 1575
2) Buy UltraTech Cement: 2475-2495, stop loss 2420, target 2625
3) Sell TCS: 2575-2600, stop loss 2650, target 2425
4) Sell Tech Mahindra: 2620-2635, stop loss 2685, target 2525
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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