US Economy growing at a slower than expected pace, Stock Buying Tips
Indian stock market which traded within a very tight range for most part of the day. It was more of a cautious stance adopted on the back of jittery global economic scenario. Buying was mostly stock specific and in smallcap and midcap sectors. Realty and auto saw some strength, too. Sensex shut shop at 18221, down 16 points and Nifty at 5479, down 6 points from the previous close. CNX Midcap index was up 0.7% and BSE Smallcap index was up 0.9%. The market breadth was positive with advances at 775 against declines of 495 on the NSE.
U.S. economy just slowing but not collapsing. However, the economy is still not creating enough new jobs to lower the unemployment rate. Stocks pared gains, but still remained positive, after the ISM services report was released at 10:00 a.m. EDT. The worse-than-expected data showed the U.S. services industry in August growing at a slower pace compared to the previous month.
Stock Market Trading Free Tips
Buy SBI with a target of Rs 2870 and stop loss of Rs 2730
Buy Vijaya Bank with a target of Rs 95 and stop loss of Rs 80
Buy Apollo Tyres with a target of Rs 105 and stop loss of Rs 71
Buy Bharti Airtel with a target of Rs 355 and stop loss of Rs 330
Buy Hotel Leela with a target of Rs 65 and stop loss of Rs 50