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 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.