The Sensex and Nifty were off to a positive start on Thursday heavyweights like ONGC and Reliance Industries supporting the gains. Positive global cues and optimism about domestic earnings recovery buoyed the sentiment on Dalal Street. Asian shares scaled a near-decade peak on Thursday, bolstered by a surge in global stocks to new records on strong US corporate earnings, while the yen eased slightly after the Bank of Japan reinforced expectations it will lag other central banks in dialling back stimulus. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.15 per cent, hovering near its highest level since December 2007.
Market experts Simi Bhaumik and Lovelesh Sharma shared their trading/short-term picks:
Simi Bhaumik, Research Analyst:
Buy Motherson Sumi on dips for target of 329-333 and stop-loss of Rs 322
Buy Dr Reddy's Lab for target of Rs 2789-2820 and stop-loss of Rs 2,750
Buy Voltas on dips with target at 495-502 and stop-loss at Rs 487
Lovelesh Sharma of Epic Research:
Buy Dr Reddy's Lab on dips with target at Rs 2,890 and stop-loss at Rs 2,740
Buy Cox And Kings on dips with target at Rs 302 and stop-loss at Rs 262
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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