Due to strong buying support by FIIs, the key benchmark indices surged to record high this week. S&P BSE Sensex, hit record high near to 22,000 level and the 50-unit CNX Nifty struck record high above 6,500. Sharp gain witnessed in Realty, banking and Metal stocks. Going ahead, Corporate advance tax data for the fourth and final installment on 15 March 2014 could provide cues on the likely Q4 March 2014 corporate earnings. Domestic macroeconomic data and the influential US non-farms payroll data for February 2014 will dictate the near term trend on the domestic bourses.
Techno- Funda Recommendation
Buy LIC Housing Finance Limited between 218 – CMP (223.25) with close below stop loss of Rs 208 level for the target of Rs 260 ( Time Horizon :- 1-2 Months).