The Sugar Decontrol issue is likely to be taken up in the 1st week of April, 2013 and hence we can look forward for short term buoyancy in this space. Buy Shree Renuka Sugars Ltd at Rs.22.70, T--Rs.25, SL--Rs.22.
IVRCL Ltd recommended around Rs.19, last Friday, today touched Rs.19.90. I heard this has now been recommended by a marketman on a business channel for a short term target of Rs.22-23.
As expected and as suggested to Paid Service members, the Nifty_Futures is likely to surge ahead to 5740, in the coming days, taking cues from both the Fundamental and Chartical factors. Meanwhile in Asia, the Indices surged today as Cyprus and European Union leaders reached on a revised agreement to bailout the former. The US Indices ended higher Friday on expectations that Cyprus will come out with an acceptable plan to qualify for a bailout by the European Union.
Therefore, Fundamentally speaking too, the Stock Indices are expected to trade firm as Cyprus clinched a last-minute agreement with European Union leaders to receive a bailout package. However, rollover of positions to the April series ahead of expiry of March futures may keep action stock-specific. Aggressive traders can go for Nifty longs, for the targets mentioned above.