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As the market extended gains for the second day on Thursday amid improved sentiment, the Indian market is expected to open on a high note on Friday in line with the Asian and global markets.
Hinting at a strong opening, SGX Nifty was trading higher by more than 125 points in the early trade on the Singaporean exchange around 8 am on Friday.
Similarly, Japanese Nikkei 225 gained more than 1.3%, Hang Seng Index at the Hong Kong exchange rose by more than 0.7% and Chinese Shanghai Composite traded higher by 0.2% around the same time.
Earlier, the US markets ended strongly near the day’s highs on Thursday. The US equity benchmarks Dow Jones gained 1.12%, Nasdaq closed higher by 2.28% and S&P 500 rose 1.5% in Thursday’s closings.
“The crash in commodities and RBI’s latest initiatives to increase foreign currency inflows have the potential to arrest further depreciation in rupee. This means FIIs are unlikely to sell more. This is positive for markets,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services while reacting to current trends in the market
Leading indicators like demand for housing, autos particularly passenger and commercial vehicles, certain discretionary items like jewellery etc. reflect robust economic recovery in India, he added.
Meanwhile, Zee Business research team brings you a list of stocks for profitable trade on Friday. These stocks are picked keeping in view intraday calls, short-to-long term investments. The stocks are selected from cash, F&O and techno segments to help investors make money on their investments. Below is the list of stocks:
Varun Dubey Stock Picks
Cash
Buy Pricol Target Rs 142 SL RS 133
Futures
Sell Alkem Labs FUT Target Rs 3030 SL RS 3180
Options
Buy HDFC Bank 1400 CE Target Rs 37 SL RS 25
Tech
Buy Mahindra Logistics Target Rs 525 SK RS 494
Funda
Buy Hester Bio Target Rs 2600 SL RS 2000
Invest
Buy Tata Elxsi Target Rs 9500 Duration 4 to 6 Months
News
Sell Dr Reddy FUT Target Rs 4200 SL RS 4400
My Choice
Sell Oberoi Realty FUT Target Rs 770 SL RS 810
Buy Chennai Petro Target Rs 275 SL RS 260
Buy Goodyear Tyre Target Rs 1120 SL RS 1050
Best Pick
Buy Pricol Target Rs 142 SL RS 133
Kushal Gupta Stock Picks
Cash
MRPL – Buy – 75, sl – 71
FTR
M&M – Buy – 1150, sl – 1105
OPTN
Vedanta 228.50 CE@12.10 – Buy – 25, sl – 8
Techno
India Cement – Buy – 171, sl – 163
Funda
Berger Paints Sell 575, Sl 602
Invest
Tata Motors Buy 550, Duration 12 Months
News
Hindustan Zinc – Buy – 263, sl – 252
Mychoice
Ramco Cements Buy 665, Sl 638
Tata steel Buy 927, Sl 885
Interglobe FUT Sell 1650, Sl 1718
Best Pick
India Cement – Buy – 171, sl – 163
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