Tata steel made a low of 563.5 some time back. You can keep your sell orders just above 562 to finish the short call today.
Bharti Airtel is struggling to go higher than the 280 -281 mark.
For the rail budget we recommended Bartronics and all stocks except Bartronics has fallen by over 7%. However we view the budget as mildly positive since it has laid out several growth opportunities. TWL, Texmaco & BEML should see some buying interest going forward.
Titaghar, Kalindee, Hind Rectifier, Taxmeco going up from current levels. Those who wishes to buy / average they can do so including in BEML. Support levels are: Titaghar – 373, Kalindee 179, Texmaco 138, BEML 1002
Steel stocks came off the day's lows after Rail Minister Mamta Banerjee kept freight rate unchanged in the Rail Budget for 2010-2011.
Meanwhile, the BSE Sensex was up 9.46 points, or 0.06% to 16,295.78.Steel Authority of India (up 0.14% to Rs 208.20), Jindal Steel & Power (up 0.45% to Rs 620) and JSW Steel(up 1.61% to Rs 1068.25) edged higher.But, Bhushan Steel (down 0.34% to Rs 1610), Tata Steel (down 0.59% to Rs 573) and Ispat Industries (down0.80% to Rs 18.50) edged lower.
Cement, steel and petroleum companies transport bulk of the material through the railways and therefore no
hike in freight rates augurs well for these industries.
To get similar news / stock updates directly in your mailbox free of cost just drop us an email at dewang@denip.in or nimesh@denip.in
Steel stocks came off the day's lows after Rail Minister Mamta Banerjee kept freight rate unchanged in the Rail Budget for 2010-2011.
Meanwhile, the BSE Sensex was up 9.46 points, or 0.06% to 16,295.78.Steel Authority of India (up 0.14% to Rs 208.20), Jindal Steel & Power (up 0.45% to Rs 620) and JSW Steel(up 1.61% to Rs 1068.25) edged higher.But, Bhushan Steel (down 0.34% to Rs 1610), Tata Steel (down 0.59% to Rs 573) and Ispat Industries (down0.80% to Rs 18.50) edged lower.
Cement, steel and petroleum companies transport bulk of the material through the railways and therefore no
hike in freight rates augurs well for these industries.
To get similar news / stock updates directly in your mailbox free of cost just drop us an email at dewang@denip.in or nimesh@denip.in
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