After previous week closing in red, the key benchmark indices able to close positive on the first week of October. Market opened negative at the onset of the week but it has taken support and buying emerges in Metal, Banking and Capital goods stocks. The next major trigger for the market is the second quarter September 2013 corporate earnings which will start next week. Domestic macroeconomic data, political developments in the United States amid a partial shutdown of the US government, trend in investment of foreign institutional investors (FIIs) will dictate near term trend on the domestic bourses.
Techno- Funda Recommendation
Buy Mahindra & Mahindra Financial Services Limited between 264 – CMP (268.30) with close below stop loss of Rs 252 level for the target of Rs 310 ( Time Horizon :- 1-2 Months)