The market is continuing to trade with a positive bias with Sensex at 16055, up 67 points from its previous close, and Nifty is at 4875, up 27 points. Europe opens in the green and is trading positive while banks, consumer durables and metals keep the Indian market in the green. Sensex is trading at 16041, up 53 points from its previous close, and Nifty is at 4868, up 20 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.5%. The market breadth is positive with advances at 877 against declines of 469 on the NSE. Indian markets are likely to remain weak till October; see a Nifty target of 3800 in the medium term.
Here are some trading suggestion for Short Term Trading
Buy Delta Corp with a target of Rs 71 and stop loss of Rs 57.
Buy Arvind Ltd on dips to Rs 50-55 with a 12-24 month target of Rs 100-110.
Buy Hindalco June Futures with a 4-5 day target of Rs 125 and stop loss of Rs 114.
Buy RCF with a one-week target of Rs 65 and stop loss of Rs 57.
Buy Sintex Industries with a 3-4 day target of Rs 56 and stop loss of Rs 50.