The latest analysis and commentary by stock market guru Amit Gupta of ICICI Direct on what is moving the markets today.
He also spoke at length on Container Corporation of India and Adani Ports.
“Once we are moving towards Budget it is possible towards this expiry if Nifty is holding around 10,900 firm you will see more short covering coming in to the infrastructure space. Particularly, what we are recommending from the infrastructure space is Container Corporation of India, Adani Ports. Adani port has been finding lot of resistances in the last one or two years around Rs 400 levels but this time the open interest has got doubled so that means the positions are formed now in anticipation of some move in the stock. We are targeting in a short term around Rs 415 for the stock. Coming to Container Corporation now it has also facing lot of resistances and for the last one year it has not been able to take out Rs 700. Our target on the higher side immediately is Rs 740.”
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