Despite headwinds for the sector over the past few quarters, IT companies have been deepening their presence in digital and are embracing automation
According to Dipen Shah, Sr. Vice President - PCG Research, Kotak Securities, Budget has been along expected lines on most fronts.
Stock market sentiment in the days to come would be driven by the country's first biggest economic event of the year, Union Budget due on February 1, say experts.
Quarterly earnings from bluechips Lupin and ITC, wholesale inflation data and the outcome of assembly polls in five states will be the key driving factor for the stock market this week, say experts.
The Sensex on Thursday closed 807.07 points down at 22,951.83 points -- the lowest closing level for the index since May 8, 2014.
Markets are likely to remain volatile amid derivatives expiry as parliamentary proceedings will largely dictate trend in the holiday-shortened week ahead, experts say.
The stock market is expected to see volatility this week as traders roll over their positions in the futures & options (F&O) segment and economic growth numbers are released.
Dipen Shah of Kotak Securities advises accumulating Tata Steel for a target of Rs 425. "Tata Steel's October-December quarter results have been a mixed bag for us," he adds.
Dipen Shah of Kotak Securities prefers private banks over public sector undertaking banks. He likes ICICI Bank and HDFC Bank within the private space.
According to Dipen Shah of Kotak Securities, one may accumulate HCL Technologies on dips. "We continue to maintain a very positive stance on the IT sector," he adds.
Dipen Shah, Senior Vice President & Head - PCG Research at Kotak Securities is positive on Voltas, Cummins India and VA Tech Wabag.
According to Dipen Shah, Senior Vice President & Head - PCG Research at Kotak Securities likes ICICI Bank and HDFC Bank within the private sector banks.
Dipen Shah, Senior Vice President & Head - PCG Research at Kotak Securities is positive on Infosys, Tata Consultancy Services, Wipro, HCL Technologies and NIIT Technologies.
Dipen Shah of Stayvan.com recommends selling gold on MCX. "Maintain a stop loss for this trade at Rs 28,400 per 10gm for a target of Rs 27,900 per 10gm", Shah adds.
Reena Rohit of Angel Commodity Broking advocates selling MCX gold. She says, "Keep a stop loss for this trade at Rs 27,950 per 10gm for a target of Rs 27,500 per 10gm".
Dharmesh Bhatia of Kotak Commodities suggests buying MCX crude. Place a stop loss for this trade at Rs 6,150 per barrel for a target of Rs 6,350-6,400 per barrel.
Reena Rohit of Angel Broking advises buying MCX crude with a stop loss at Rs 6,260 per barrel for a target of Rs 6,424 per barrel.
Commodity experts are upbeat on silver and crude, they advise buying them. However, they are not bullish on gold, hence suggest selling it.
Commodity experts are not so upbeat on copper, silver and natural gas. However, they expect crude to touch Rs 5,720 per bbl, hence suggest buying it.
Commodity experts are upbeat on gold & silver, they advise buying them. However, they recommend buying gold on dips.
Priyank Upadhyay of SSJ Finance & Securities suggests selling gold around Rs 26,800-26,850 per 10gm. Place a stop loss for this trade at Rs 27,000 per 10gm for a target of Rs 26,300-26,400 per 10gm.
Dharmesh Bhatia of Kotak Commodities advises buying MCX crude around Rs 5,150-5,160 per barrel with a stop loss at Rs 5,060 per barrel and a target of Rs 5,280-5,300 per barrel.
Dipen Shah of Stayvan.com recommends selling gold on MCX around Rs 27,100-27,150 per 10gm. "Maintain a stop loss for this trade at Rs 27,250 per 10gm for a target of Rs 26,750-26,800 per 10gm", Shah adds.
Dipen Shah of Stayvan.com recommends buying gold on MCX on dips at Rs 26,800 per 10gm. "Maintain a stop loss for this trade at Rs 26,680 per 10gm for an upside target of Rs 27,100-27,200 per 10gm", Shah adds.
Priyank Upadhyay of SSJ Finance & Securities recommends buying nickel May contract around Rs 825-822 per kilogram with stop loss below Rs 815 per kilogram and target around Rs 845 per kilogram.