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Monday, March 20, 2017

Today's Calls
1. Buy UCO Bank Ltd at Rs.35.80, T: Rs.42, SL: Rs.35.50. The stock has formed a double
bottom on EOD charts and should move up. The name of the banks and the amount of capital to be infused by the government are:
Allahabad Bank (Rs.418 cr), Andhra Bank (Rs.1,100 cr), Bank of India (Rs.1,500 cr), Bank of Maharashtra (Rs.300 cr), Central Bank of India (Rs.100 cr), Dena Bank (Rs.600 cr), IDBI Bank (Rs.1,900 cr), Indian Overseas Bank (Rs.1,100 cr), UCO Bank (Rs.1,150 cr), and United Bank of India (Rs.418 cr).
Most analysts say that the NDA government will be able to stick to the target of a fiscal deficit of 3.5% of gross domestic product, or GDP, in the current fiscal year that ends in March and aim for at least 3.3% fiscal deficit for 2018. India's successive governments have been diligently lowering the fiscal deficit for seven years since 2012 when the deficit touched 5.9% of GDP. While India government’s demonetization exercise which forced citizens to return old high-value notes in November-December period, might have had many side effects, it the helped banks to grow deposits. Meanwhile, my earlier recommended Dena Bank Ltd (38.70) is up 4.59% today.

2. Those who are holding Tata Motors Ltd (Rs.472), should exit at intra-day highs, and enter banking or IT sectors. The long term holders, can keep a SL of Rs.466.

3. Those who have entered Rolta India Ltd, should give at least 6-9 months to the scrip, to generate some decent returns. This scrip may not perform in the immediate short term.

4. Nifty is now trading at 9,123.60 down 36.45 points or 0.40%. But I feel, a strong government with around two third majority in Uttar Pradesh is positive for the stock market. I am expecting the Nifty to close in the Green today. Let us see....

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