Stocks in Focus: During trading today, there will be focus on stocks like Reliance and Maruti Suzuki.
Market Outlook: The market had a great start on Monday (January 3) on the first trading day of this year and Nifty 50 reached the level of 17600 for the first time after 22 November 2021. According to brokerage firm Reliance Securities, it has crossed the 50-day EMA (Exponential Moving Average) to form a bullish pattern on the daily chart. Apart from this, technical indicators are also giving positive signals on the short term time frame chart. According to the brokerage firm, the trend of the market is looking positive and it can first move towards the level of 17800 and then till the level of 18 thousand. However, if there is slippage, then it will get support at the level of 17350-17300. Talking about individual stocks, today the focus will be on Future Retail, Reliance, Maruti Suzuki, Krishna Institute of Medical Sciences, HUL, Colgate Palmolive, GAIL India, Lemon Tree and banking stocks.
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Today the focus will be on these stocks
- Future Retail: Future Retail on Monday filed a petition in Singapore to declare the ongoing arbitration case with Amazon illegal and against the law. In Singapore, Amazon has filed a petition against the Rs 24,500 crore merger deal between Future and Reliance.
- Bank stocks: According to the domestic rating agency Icra, the Omicron variant of Corona can have a negative impact on the recovery in the asset quality of banks. Due to this virus, a third wave of corona is being feared, due to which lockdowns can be imposed.
- Reliance: Sterling & Wilson Renewable Energy on Monday informed about becoming the promoter of Reliance New Energy Solar. Reliance’s solar arm made a balance payment of Rs 1583 crore for a 25.90 per cent stake. After this transaction, the solar arm of Reliance and other group companies got 40 per cent stake in Sterling & Wilson Renewable Energy.
- HUL, Colgate-Palmolive: The tussle between FMCG companies and traditional distributors doesn’t seem to end soon. Now distributors are going to stop selling HUL and Colgate Palmolive products from January 4 in Gujarat, Odisha, Rajasthan and Tamil Nadu after Maharashtra.
- Lemon Tree Hotels: Goldman Sachs (Singapore) Pvt-ODI has bought 30.02 lakh equity shares of Lemon Tree Hotels at Rs 46.6 per share through a block deal on BSE. These shares have been sold by Jaba Pan Asia Master Fund.
- KIMS: Goldman Sachs (Singapore) Pvt-ODI has bought 72009 equity shares of Krishna Institute of Medical Sciences (KIMS) at a price of Rs 1425.65 through a block deal on BSE.
- GAIL (India): GAIL India has made the first interim dividend payment of Rs 4 per equity share for FY 2022.
- Maruti Suzuki: Maruti Suzuki, the largest car maker in the country, made 1.52 lakh vehicles last month in December 2021, compared to 1.55 lakh vehicles in December 2020 last year. However, in the last year 2021, the company exported 2.05 lakh vehicles, which was the highest in any one year.
You can bet on these stocks in intra-day
According to Reliance Securities, Motherson Sumi, HAL and Dalmia can bet on Bharat in intra-day today.
- MOTHERSUMI: In the price range of Rs 223- Rs 221, you can take a long position with a target price of Rs 231 and a stop loss of Rs 218.
- CASE: In the price range of Rs 1,226- Rs 1,220, you can take a long position with a stop loss of Rs 1204 and target price of Rs 1260.
- DALBHARAT: In the price range of Rs 1,881- 1,870, you can take a long position with a target price of Rs 1,965 and a stop loss of Rs 1,840.
(The stock recommendations given in the story are from the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.
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