State polls brings back the confidence in the Indian markets...
Global Market Update:-
U.S. stocks traded largely higher on Monday on hopes for Apple to release upbeat third-quarter earnings, though disappointing numbers from IBM weighed on the Dow. At the close of U.S. trading, the Dow rose 0.12%, the S&P index rose 0.91%, while the NASDAQ index rose 1.35%. Apple Inc was due to release third-quarter earnings later on Monday after the closing bell, though expectations for a solid report boosted stock prices earlier.
Still, International Business Machines reported earlier that it was cutting its 2015 earnings forecast, pointing out it won't meet its $20 a share target, a figure that has held for five years, which weighed on broader stock indices, the Dow Jones especially.
European indices, meanwhile, ended the day lower.After the close of European trade, the France's CAC fell 1.04%, while Germany's DAX fell 1.50%. Meanwhile, in the U.K. the FTSE fell 0.68%.
Indian Market Update:-
State election outcome brings the shines back in the Indian markets and brings back the hopes in the Indian economy. As expected the BJP has emerged has a single largest party in both the states and BJP lead government will be formed in Maharashtra too.
The Benchmark indies Opened the day higher and consolidated through out the day and managed to close the day at 1.25% higher on Both Sensex and Nifty.Sensex closed the day 26430 and Nifty at 7979.Tracking the global cues Indian markets to open in a flat note today and may advance in the second session Nifty has a strong resistance coming above 7900 levels and support coming at 7800 levels.
China will release the GDP data which will also makes the difference in metal stocks.
Recommendation: BUY PTC
Stop loss: 76
Time duration: 2 WEEKS
PTC has formed a double bottom pattern and has broken the trend line the upside with strong volumes forming the bullish engulfing pattern and the next ebb of resistance coming at 95 zone the stock should shoot upto 95 levles in short term.
Recommendation: BUY PNB
Stop loss: 920
Time duration: 2 Weeks
Stock has made a strong bottom at 850 levels after a strong correction and now the stock has confirmed the upper momentum as it is broken the short term resistance trend line and stock has also broken triangular pattern can take the stock back to 1000 plus levles.
Nifty will close this expiry between 8000-8100, Be a buyer...
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