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Thursday, May 19, 2011

Nifty seen opening flat ,L&T watched 19th may

Mixed opening is seen for the 50-share Nifty index on Thursday on the back of positive Asian Markets but worries of slowdown in U.S economic recovery will keep investors on the edge as Federal Reserve meeting minutes indicated that the Fed balance sheet will continue to expand.

The minutes, released on Wednesday, showed worries about inflation rising last month before a big surge in oil prices subsided. At the same time the minutes did not indicate the Fed was ready to start tightening policy any time soon according to a report. Weakness in dollar and strength in commodities will weigh on investors minds.

"Traders need to be wary of buying beaten down stocks that appear to have hit a rock bottom because weak stocks tend to fall the most whenever markets fall sharply and the fall may still not be over yet." Markets seem to be heading toward their next target of 5350 where some buying is to be expected.

Shares in Indian engineering and construction firm Larsen & Toubro will be in focus ahead of its quarterly results later in the day.

Other major results to watch out for in today's trade ahead of their quarterly results are Ashok Leyland , Wockhardt, Tata Power and Voltas, Jet Airways.

Top Stocks picks for today 19th may

IOB May Futures: Verdict - SELL

Target - 140.00
Stop Loss - 152.00

Anant Raj Industries: Verdict - SELL

Target - 58.00
Stop Loss - 70.00

Reliance Infra: Verdict - SELL

Target - 535.00
Stop Loss - 580.00

HDIL: Verdict: SELL

Target - 145.00
Stop Loss - 160.00


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