Tit bits
The SGX Nifty is trading at 10,395 down 120
points, while the Asian markets are mixed (Straight Times, Taiwan and Shanghai Composite is in Green). Though the threat of coronavirus is hanging over our head like Damocles sword, but for the time being the Nifty is expected to get support around 10900/10200 ranges, where you should think of short term buying. Today, also we could see a bounce back, which in all probability is likely to get sold off.
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| Photo: Seeking Alpha |
#Today Nifty could open gap, down near 10400, where you can buy Nifty futures corresponding to the spot price, for intraday target of 10560.
#Since gas price cut could take place next month, buy the fundamentally strong shares from the Fertilizer and Power sectors. Some of the names from the fertilizer sector has already been discussed in this blog, you can choose a scrip depending upon your risk profile.
#Buy the shares of Infosys Ltd (Rs.704.45) near Rs.697/700, for short term targets of Rs.800/820. Company joined Qualcomm Smart Cities Accelerator Programme to offer smart city solutions. This is a great news when the NDA government has been focusing on Smart Cities.
#Buy the shares of Ramky Infrastructure Ltd (Rs.25.35) near Rs.25.50 for short term targets of Rs.31/32.
#If you are holding the shares of Yes Bank Ltd (Rs. 29), should use this opportunity to lighten your positions. This pop is probably for a large investor to exit. Though it is up around 32% today, I would suggest you to not to enter the counter.It's Rs.10,800 crore of AT-1 bonds could soon turn into wastepaper.
I don't understand how SBI can bale out Yes Bank without the consent of minority shareholders. Why SBI wants to take such a massive hit on its balance sheet?
#Ramagundam Fertilizers and Chemicals Limited in which National Fertiliser Ltd (Rs.21.70) has stake is likely to start production from this month, i.e. March, 2020, according to several media reports.
#Buy the shares of Infosys Ltd (Rs.704.45) near Rs.697/700, for short term targets of Rs.800/820. Company joined Qualcomm Smart Cities Accelerator Programme to offer smart city solutions. This is a great news when the NDA government has been focusing on Smart Cities.
#Buy the shares of Ramky Infrastructure Ltd (Rs.25.35) near Rs.25.50 for short term targets of Rs.31/32.
#If you are holding the shares of Yes Bank Ltd (Rs. 29), should use this opportunity to lighten your positions. This pop is probably for a large investor to exit. Though it is up around 32% today, I would suggest you to not to enter the counter.It's Rs.10,800 crore of AT-1 bonds could soon turn into wastepaper.
I don't understand how SBI can bale out Yes Bank without the consent of minority shareholders. Why SBI wants to take such a massive hit on its balance sheet?
#Ramagundam Fertilizers and Chemicals Limited in which National Fertiliser Ltd (Rs.21.70) has stake is likely to start production from this month, i.e. March, 2020, according to several media reports.
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