The Nifty stayed lower for the second consecutive session on Wednesday amid Greece concerns and depreciating rupee. It declined 25.15 points to end at 4,974 yesterday. Today it open with a huge buying pressure and touch the intraday high of 5148. Currently it is trading at 5001.45 with 26.75 points up.
Stocks For Today-
For the last 4-5 days Apollo is in a trading range and yesterday it did well. So I would assume that the market is anticipating pleasant results. But apart from the results, purely on the charts Apollo is a buying opportunity. You start with a day trade and if it works out then it needs to be converted into a positional long.
Our research report suggest that there will be a lot of follow through in Ranbaxy, means there a good buying opportunity in it. It has been doing all the right things, the corrections are mild. Stocks that go up tend to go up.
Bharti Airtel’s revenue and EBITDA numbers were inline with our estimates however PAT was lower as forex loss hit the net profit. We are bullish on Bharti Airtel and recommend that, buy Bharti airtel with a target of Rs 370.