Market Commentary & Stock To Watch-03 September 2015

The government's decision not to levy minimum alternative tax (MAT) on stock market transactions of foreign institutional investors (FIIs) failed to buoy sentiment on the bourses. The barometer index, the S&P BSE Sensex, lost 209.31 points or 0.81% at 25,487.13, as per provisional closing data. The 50-unit CNX Nifty lost 68.85 points or 0.88% at 7,717, as per provisional closing data. The Sensex and CNX Nifty, both, hit their lowest level in more than a year. Shares of state-run power and coal sector firms and banking stocks led losses for key benchmark indices. Bank stocks edged lower after the Reserve Bank of India issued draft guidelines on computation of banks' base rate based on marginal cost of funds.


STOCKS TO WATCH

TATASTEEL:  
Sell TATASTEEL below 230 stock may show 210/200 LEVELS.

VEDANTA:
Keep selling but only on rise 60/50 levels are waiting………

HDFC:
Sell HDFCL below 1170 for the target of 1110/1080 in coming days, keep sell on rise.

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