'BUY' OR 'SELL' ideas by experts for Thursday, January 12

NEW DELHI: Indian markets are expected to trade in a range ahead of IIP data for the month of November due later today.

The BSE benchmark Sensex consolidated on Wednesday ahead of IT bellwether Infosys's third quarter earnings, weekly food inflation numbers and IIP data for the month of November.

Infosys reported 33% rise in its net profit to Rs 2372 crore for the December quarter on Thursday aided by a weakening rupee but scaled down its annual forecast signaling weak demand ahead for the country's IT sector.

However, the market will be focusing on any revision in forecast by Infosys management for the fiscal year ending March 31, comments on demand momentum, hiring and acquisition plans.

“We have managed to stay above a very critical level of 4820 for the Nifty and any dips should be used as buying opportunity based on trading perspective as long as the index remains above 4760,” said Rakesh Gandhi, Sr Technical Analyst of LKP Securities Ltd.

On the macro economic data front, Industrial output numbers for the month of November and weekly inflation data due later today should give some direction to markets in the second half of the trading day.

According to experts, the IIP data should provide some upside in the month of November after a 5% contraction seen in the month of October.

“For today, post IIP numbers if Nifty manages to stay above 4880 we can expect a rally to continue for the day. The head and shoulder formation on the hourly chart has seen a breakout above its neckline,” added Rakesh.

In the month of October, government data showed that the industrial output contracted to 5.1 percent, while it had risen 2.7 percent in the year-ago period.

"Industrial output for the month of November is expected to rise at an annual rate of 2.2% boosted by infrastructure sector and auto sales," according to a Reuters report.

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ET Now spoke to various experts and here’s what they have to recommend for today’s trade:

Ashwani Gujral of ashwanigujral. com

Tata Consultancy Services is a ‘SELL’ call with a target of Rs 1090 and a stop loss of Rs 1160

Union Bank of India is a ‘BUY’ call with a target of Rs 205 and a stop loss of Rs 179

BPCL is a ‘BUY’ call with a target of Rs 525 and a stop loss of Rs 494

Infosys Ltd is a ‘SELL’ call with a target of Rs 2700 and a stop loss of Rs 2900

Dish TV Ltd is a ‘BUY’ call with a target of Rs 70 and a stop loss of Rs 57

Mitesh Thacker of miteshthacker. com

Financial Technologies Ltd ‘BUY’ call with a target of Rs 654 and a stop loss of Rs 585

Grasim Industries Ltd is a ‘SELL’ call with a target of Rs 2310 and a stop loss of Rs 2425

Jubilant FoodWorks Ltd is a ‘BUY’ call with a target of Rs 855 and a stop loss of Rs 779

Opto Circuits India Ltd is a ‘BUY’ call with a target of Rs 223 and a stop loss of Rs 206

Ultra Tech Cement Ltd is a ‘SELL’ call with a target of Rs 1080 and a stop loss of Rs 1155

(The views and recommendations expressed in this section are the analysts own and do not represent those of EconomicTimes.com)