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Trading Calls: Buy Biocon, Indiabulls Housing Finance, Pidilite, Says Expert

Buy Biocon at a minor dip near 605-603 range, stop-loss 600 with targets of 614, 617/18 and 621, suggests research analyst Simi Bhaumik.

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Trading Calls: Buy Biocon, Indiabulls Housing Finance, Pidilite, Says Expert

Asian shares were trading mixed today.

Indian stock markets are set to open flat today. The Nifty futures trading on Singapore exchange is at 10285, up nearly 10 points. Overcoming weak global cues and choppy trade, Sensex and Nifty ended higher on Tuesday. This was the fourth session of gains for Indian markets in five days. Markets were well supported by gains in banking stocks. Auto, healthcare sectors also posted strong gains. Banking shares rose today after Reserve Bank of India allowed banks to spread their bond trading losses, in a move that will likely boost the profitability of banks. On Tuesday, the Sensex ended 115 points higher at 33,370 while Nifty settled at 10,245, up 33 points.

Asian shares were trading mixed today as investors underwent another of the mercurial mood swings that have plagued markets recently, and one could prove just as fleeting given simmering fears of a trade war. Safe-haven bonds, gold and the yen all ran into selling as Wall Street benefited from bets that President Donald Trump's Twitter attacks on Amazon would not translate to actual policy.

Yet trade worries weren't far away. Late on Tuesday, the Trump administration announced 25 per cent tariffs on $50 billion of annual imports from China, covering around 1,300 industrial technology, transport and medical products. China's commerce ministry immediately warned it was preparing countermeasures of equal intensity.

Here are a few trading calls from research analyst Simi Bhaumik

Buy Biocon at a minor dip near 605-603 range, stop-loss 600 with targets of 614, 617/18 and 621

Buy Indiabulls Housing Finance at a minor dip near 1295-1290 range, stop-loss at 1284 with targets at 1315, 1322 and 1329-34

Buy Pidilite at a minor dip near 960-957- range, stop-loss at 954 with targets at 966, 971 and 975

Disclaimer: Investors are advised to make their own assessment before acting on the information.

 

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