RESISTANCE: 5950 6000
Asian indices gained today taking bullish cues from US equities and from data on US factory orders & services sector growth. US indices ended up on Wednesday as US lawmakers stepped up efforts to reach a debt-reduction deal. The Nasdaq faced pressure from fall in Apple shares as the company's rival Nokia, launched the new Lumia phone.
Fundamentally speaking, the domestic stock indices are expected to trade with a positive bias today, taking bullish cues from overseas equities, and as the government won a vote in the Lok Sabha of allowing 51% FDI in the multi-brand retail. However, there could be some selling in the Retail stocks like Pantaloon, Shopper’s Stop, V2 Retail Ltd and CESC, as they have been rising since a long time and some of the positives could already have been factored in the price. We are already witness some selling in these counters in the morning trade.
Buy Twilight Litaka Pharma (BSE Code: 506985) at the CMP of Rs.10.21--10.27, T--Rs.20, SL--Rs.8.