Benchmark indices opened on a flat note amid mixed trade in Asia ahead of likely US tariffs on select Chinese goods.The Sensex fell 12.28 points to 35,587.54 and the Nifty slipped 1.80 points to 10,806.20.L&T, Reliance Industries, HDFC Bank, BPCL and IOC are under pressure.Dr Reddy's Labs, TCS, Lupin, ICICI Bank, Titan Company and Maruti Suzuki gained up to 2 percent.
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| Capitalstars financial research pvt. ltd. |
Nifty Midcap index is flat
Tata Global, HDFC Standard Life, Venkys, Kesoram Industries, PVR, HOEC, Prestige Estates and LG Balakrishna gained up to 5 percent.
SBI Life, Vakrangee, Gitanjali Gems, Avenue Supermarts and Gati fell up to 5 percent.
The market is rangebound. Investors monitor the trade developments ahead of likely announcement of US tariffs on some Chinese goods.
The 30-share BSE Sensex fell 15.47 points to 35,584.35 and the 50-share NSE Nifty declined 1.70 points to 10,806.30. About 954 shares advanced against 687 declining shares on the BSE.
Prestige Estates share price gained as much as 5 percent in morning after global investment firm CLSA maintained Buy call to the stock, with a target price of Rs 395 per share.
NTPC
Current price: Rs158
Target price: Rs154
Keep a stop at Rs160 and go short. Add to the position between Rs155 and Rs156. Book profits
at Rs154.
Asian Paints
Current price: Rs1,286
Target price: Rs1,310
Keep a stop at Rs1,275 and go long. Add to the position between Rs1,300 and Rs1,305. Book profits at Rs1,310.The research house sees large scale-up potential in residential & office business and likes company's platform-led strategy to growth.
The company raised its risk appetite & investment capability at the right time, CLSA said, adding the stock is a preferred value pick in the property sector.
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