Traders are advised to lighten up position as some bit profit booking could be expected as we approach Mount 11K. Expectations of some populist measure are driving rally on D-Street, say experts.
The Nifty, which is expected to open higher, could well hit its crucial level of 11,000 in trade on Tuesday. The index closed 71 points higher to a fresh record closing high of 10,966 on Monday.
However, traders are advised to lighten up position as some bit profit booking could be expected as we approach Mount 11K. Expectations of some populist measure are driving rally on D-Street, say experts.
US stocks advanced as each of Wall Street’s main scored records in the wake of a deal by US senators to end the federal government shutdown. Major Asian indexes rose on Tuesday following the stronger lead from Wall Street after U.S. lawmakers reached a deal to end a government shutdown.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 40 points or 0.36 percent. Nifty futures were trading around 11,007-level on the Singaporean Exchange.
Stocks to Watch:
Kalpataru Power bags new orders worth Rs 871 crore.
Tinplate 3QFY18 - PAT up 184% at Rs 12.7cr vs Rs 4.46cr
Sasken Tech 3QFY18 - PAT up 8.5% at Rs 20cr
Asian Paints Cons net profit was up 15.9% at Rs 567.2 cr vs Rs 489.3 crore (YoY)
Just Dial Q3 net profit was down 23.7% at Rs 28.6 Cr Vs Rs 37.5 Cr (QoQ)
V-Guard Industries reported a 41.39 percent increase in standalone net profit at Rs 35.76 crore
39 companies scheduled to report results later today:
As many as 39 companies are scheduled to report their results for the quarter ended December 2017 which include names like Can Fin Homes, United Spirits, RBL Bank, Indiabulls Housing, and RBL Bank to name a few.
Stock Recommendations from Yes Securities:
Laurus Labs: BUY| Target Rs620| Stop loss Rs520| Return 13%
Prism Cements: BUY| Target Rs144| Stop Loss Rs124| Return 26%Wonderla Holidays: BUY| Target Rs477| Stop Loss Rs380| Return 15%