Tit - bits

The domestic share markets ended the day with with modest gains. The bank shares saw correction, while the Bulls fell in love with IT sector.

On the  global frony US payrolls data was encouraging and data showed that a pick up in  Chinese service sector activity. 

However, a surge in coronavirus cases jolted the strong marching of the bulls.  

The Nifty has a strong resistances at 10750/10900. But as mentioned in my earlier post, the Nifty will get support at 10485/10450/9700.

#The operators have minted lot of money by posting videos on YouTube, which indirectly said that Mukhesh Ambani is likely to take over the ADA group companies; as if there are no minority shareholders to oppose the move. Riding this news, the share of Reliance Infrastructure Ltd (Rs.40.40) shot up from around Rs.8.65 to Rs.44 - plus in the last few months. Similar is the case with many other ADA group companies. Stay away!!

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#You may initially conclude that my recommended Gujarat Intrux Ltd (Rs.76.60) is Incorrigibly un-sexy, but I definitely guarantee you returns, from this scrip, over a period. At present, the Company is engaged in manufacturing and supply of Stainless Steel, Non - Alloy Steel and alloy steel Castings.

Increased production of light vehicles, worldwide is acting as a key growth driver for the global foundry market. This growth in production of light vehicles is expected to increase the global demand for new cast metal parts. , Also, the replacement of old metal casting products with more energy efficient metal casting solutions, is likely to spike up demands for the company's products.

There are reports that the rural demand for auto sector is slowly picking up.

#Buy the shares of Gujarat Narmada Valley Fertilizers & Chemicals Ltd (Rs.154.40) for short term targets of Rs.161/166. Good monsoon and a pick up of rural demand is good for fertilizer companies.