24 May 2015: Sun Pharma has made a good base in the range of Rs 930 and Rs 960. In the past week, Sun Pharma stock broke out from those levels and crossed 1000 on Friday based on follow-up buying and short covering. We can expect the buying to continue in the coming weeks. The stock may test Rs 1030. Therefore, Sun Pharma can be bought between 980-1000 for target of 1030-1040, and at current level with stop loss will be Rs 960. This is a near term trade. For longer term investors, Sun Pharma also has upside target of 1200 over next 12 months.
23 May 2015: There has been a good correction in Larsen & Toubro (L&T) stock during April and May, but solid support has come everytime at 1500-1520 levels, so we can aim for 200 points upmove is Nifty remains positive. There is a short term trade available here. We can buy L&T stock between 1600-1640, for upside target of 1700-1740 in the coming weeks, with stop loss of Rs 1600.
US Markets: The US markets opened lackluster on Monday morning and remained in profit booking mode throughout the weak. Investor sentiment was jittery on the back of better than expected domestic data thereby reviving possibility of an early rate hike by US Federal Reserve and geo-political headwinds. On the macroeconomic data front, a report from the US Commerce Department showed that new home sales grew 7.8% to an annual rate of 539,000 in February (analyst expected it at 462,000). US consumer price index increased up 0.2% in February 2015 after falling by 0.7% in January 2015. A report from the US Commerce Department mid-week also depicted an unexpected drop in durable goods order in Feb 2015 (down 1.4%). US initial jobless claims fell more than expected for the week ended 21st March 2015. Initial jobless claims fell to 282,000 from the earlier week levels of 291,000. Continue reading Markets Review – 27March2015→
