Indian stock markets are likely to start Monday's session on a positive note, with the SGX Nifty on Singapore Exchange trading 49 points higher at 10553.50. Shares in the other Asian markets traded with a cautious mood as investors braced for an event-packed week headlined by US inflation data and the first House testimony by the new head of the Federal Reserve. Japan's Nikkei 225 was trading up 0.8 per cent, China's Hang Seng up 0.6 per cent and Shahghai Composite up 0.3 per cent, and South Korea's KOSPI up 0.2 per cent. MSCI's broadest index of Asia Pacific shares outside Japan nudged up 0.3 per cent. Investors initially took heart from Friday's rally on Wall Street which saw the VIX volatility index end at 16.49 per cent, far below the 50 per cent peak touched at the height of market turmoil in early February. (Read more)
On Friday, the BSE benchmark index Sensex closed 322 points higher to regain the 34,000 mark, while the NSE Nifty settled at 10,491, 108 points, or 1 per cent, higher. (Read more)
Simi Bhaumik, research analyst, shared her trading picks:
Buy Ashok Layland at a minor dip for a target price of Rs 139 with stop loss at Rs 131
Buy Aurobindo Pharma at a minor dip for a target price of Rs 624 with stop loss at Rs 588
Buy Motherson Sumi at a minor dip for a target price of Rs 325 with stop loss at Rs 314
Buy SAIL at a minor dip for a target price of Rs 95 with stop loss at Rs 84
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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