Tit - bits

#The Nifty is expected to see a gap down opening

Photo: WSJ.com

today and will test the support levels at 12020/12000 ranges. I'm not expecting too deep correction at this point of time. Try focussing on good small and mid caps, Nifty remains rangebound around 11800/12150 levels.

While, Nifty will track global developments and the coronavirus epidemic, the action is likely to be seen in specific stocks. With Bumper Ravi sowing on the cards, post monsoon, focus on Agri chemicals related and construction scrips. 

#You can buy the shares of Ashoka Buildcon Ltd near the support of Rs.97/99, for short term targets of Rs.117/121. SL: Rs.93. ICICI Direct has put a target of Rs.120. It has a P/E of 8.71 against the industry P/E of 23.02. I'm expecting a 50% rise in the morning scrip price from the CMP of Rs.99.35 in one year's time.

#At a time when the GST collections are falling and the Indian economy is passing through a grave phase,  Narendra Modi has invited the US President Donald Trump into India, for his own publicity, burning a hole in the exchequer. Till now NARENDRA Modi's much advertised foreign tours have drained out funds more than ROI. I feel this visit by the US,  will also turn out to be a cropper. Human stupidity has no limits.

#There is a recent report in ET,  that Natural gas prices are likely to be cut by a steep 25% in April translating into lower fuel cost.
Prices of natural gas, which is used to produce fertiliser and generate electricity and is also converted into CNG for use in automobiles as fuel and cooking gas for households, are set every six months -- on April 1 and October 1 each year.
This is a great news for those who are holding the shares of Fertilizer,  Power and select auto companies.