As the markets extended losing streak for the third day on Wednesday, declining by more than a half per cent, the cues from Asian markets remained negative on Thursday
As the markets extended losing streak for the third day on Wednesday, declining by more than a half per cent, the cues from Asian markets remained negative on Thursday as US inflation rose to 41-year high to 9.1%. Consumer prices soared 9.1 per cent compared with a year earlier, the government said on Wednesday, It is the biggest yearly increase since 1981, and up from an 8.6 per cent jump in May. On a monthly basis, prices rose 1.3 per cent from May to June, another substantial increase, after prices had jumped 1 per cent.
Meanwhile, reacting to the inflation date, most of the Asian indices traded lower in the morning trade. SGX Nifty was trading lower by nearly 40 points on the Singaporean exchange on Thursday.
Likewise, Shanghai Composite dropped 0.3%, Hang Seng Index at the Hong Kong Exchange traded flat with negative bias, while Japanese Nikkei 225 rose nearly 0.7% in the early trade.
Read More: Stocks to Watch Today: Mindtree, Hindustan Zinc, ACC, and Others
Earlier the US market too ended lower amid volatility as Dow Jones closed lower by 0.67%, Nasdaq declined 0.15% and S&P 500 dropped 0.45% on Wednesday.
Meanwhile, irrespective of market conditions, Zee Business brings you a list of 20 stocks for profitable trade religiously on a daily basis. These stocks are picked from cash, techno and F&O space with short-to-long-term time horizon. It also includes intraday calls. The list is made in such a way that it helps investors make profit on their capital in a stipulated period of time. Below is the list of such stocks on Thursday.
Varun Dubey Stock Picks
Cash
Buy Angel One Target Rs 1360 SL Rs 1290
Futures
Buy Mindtree Target Rs 3000 SL RS 2840
Options
Buy Granules 300 CE Target Rs 14 SL RS 9.5
Tech
Sell Dr Lal Pathlabs Target Rs 1950 SL RS 2040
Funda
Buy JSW Energy Target Rs 237 SL RS 224
Invest
Buy Data Patterns Target Rs 900 Duration 6 Months
News
Buy Tata Power Target Rs 230 SL RS 217
My Choice
Sell Muthoot Finance FUT Target Rs 975 SL RS 1025
Buy Anupam Rasayan Target Rs 734 SL RS 695
Buy Vedanta Target Rs 240 SL RS 228
Best Pick
Buy Data Patterns Target Rs 900 Duration 6 Months
Read More: Rakesh Jhunjhunwala Portfolio: Buy This Midcap Banking Stock For Over 25% Returns in a Year
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Kushal Gupta Stock Picks
Cash
Sona BLW Precision – Buy – 700, Duration – 1 year
FTR
Axis Bank FUT – Sell – 660, sl – 690
OPTN
SBI 485 [email protected] – Buy – 15, sl – 6
Techno
HDFC Bank FUT – Sell – 1325, sl – 1380
Funda
M&M Fin FUT – Sell – 192, sl – 204
Invest
Rane Madras – Buy – 425, Duration – 1 year
News
Tata Steel FUT – Sell – 880, sl – 920
Mychoice
JSW Steel FUT – Sell – 575, sl – 596
Concor FUT – Sell – 655, sl – 682
Tata Motors FUT Sell 415, Sl 432
Best Pick
Axis Bank FUT – Sell – 660, sl – 690
