GetPaidIndia.com

Long positions still holdable - Jan 19, 2012

January 19th, 2012

Experts believe the rally in the markets in the last few trading sessions is sustainable for even more sessions and that the longs are still holdable.

SENSEX closed at 16643.74 gaining 192.27 (1.17%). NIFTY closed at 5018.40 gaining 62.60 (1.26%). CNX Midcap closed at 6746.05 gaining 98.55 (1.48%). BSE Smallcap closed at 6272.23 gaining 76.53 (1.24%).

Kirloskar Oil will consider buy back of its shares when it announces its quarterly results on January 25, 2012. The stock jumped upward on the news but cooled off a little as the day progressed. The script closed at Rs. 143.75 gaining 8.80 (6.52%) with a volume of 44.25k shares traded.

An arm of Reliance Industries bought 1.14% stake in Den Networks according to an ET report. Den Networks script jumped at closed at Rs. 70.05 gaining 6.35 (9.97%) amidst a volume of 341.16k shares traded.

Bank of America Merrill Lynch in its company update report on TCS dated January 16, 2012 has given a BUY call on the script. The target price for TCS is Rs. 1330. The post in-line balanced 3Q and encouraging hiring has led to the BUY call.

All eyes are now on the Reliance Industries quarterly numbers that will be released tomorrow.

Entry Filed under: Equity Markets, IT & ITes, Oil & Petro Chemicals, Closing Bell