Market Today : Maruti Stock Recommendations

Good Morning readers, market today opened on a soft note, in the morning bell market showing some strengths. Both the benchmarks Nifty and Sensex opened on a good note supported by the stocks like Maruti, DLF, Ranbaxy etc. Maruti stock is continuing with its uptrend. Last week on Friday it closed at day's high and on the Monday morning also it is going with the same pace.

The trade is likely to turn rangebound ahead of the Reserve Bank of India's policy meet.

Maruti Suzuki Stock Recommendations :-

We expect the Maruti’s margin to improve in Q4FY2013 on back of currency benefits due to the yen’s depreciation. We are raising our FY2013 EPS estimate by 1% to Rs 66.1/share to factor the currency benefits. Our FY2014 and FY2015 EPS estimates remain unchanged at Rs 97 and Rs 120.6 respectively.

We maintain Buy recommendation on the stock with a price target of Rs 1,809.

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Share Market Trend Today 29 October

Market Predictions For Today :- 

Market today will open positive and try to test traders’ patience. Since US market closed on a positive note after a smart recovery, other world markets are likely to follow. It will become volatile in the second half and face technical resistance at 5735, 5758 and support at 5668, 5640. 

NIFTY will play in the range for some time trying to break-out. Keep your trading radar on Select stocks in mid-cap space which will outperform. A larger number of results due today, which will keep our research team busy. The recent cabinet reshuffle indicates that the Government is now serious in it’s’ business. So we expect positive news from the political front. Till Nifty in this range midcap will fly around. Any close above 5738 with volume may see NIFTY testing earlier h

ighs of 5780 levels. 

Active Stocks Today :-

1. GAIL Ltd

2. Sesa Goa Ltd

3. IDFC Ltd 

4. United Bank of India

5. BHEL

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