Indian stock markets are likely to be volatile ahead of derivatives expiry on Wednesday and amid continue foreign selling. However, global cues continue to be strong with the Dow Jones index in the US closing above 18,000 for the first time.
The January series is seeing a strong build up as global correction ends and market focus shifts to fundamentals.
Trading calls with 3/4 day outlook:
1) Buy Cipla: 628-632, stop loss 615, target 650
2) Buy Idea Cellular: 148-152, stop loss 144, target 163
3) Sell Dr Reddy's: 3200-3225, stop loss 3275, target 3100
4) Sell Reliance Communications: 80-82, stop loss 85, target 73
Previous trades: HDFC Bank (buy), Bank of India (buy), Cairn India (buy), Zee Entertainment (buy), L&T (buy), Tata Motors (buy), Tata Steel (buy), Reliance Industries (buy), Canara Bank (buy)
Disclaimer: Investors are advised to make their own assessment before acting on the information
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