Investors who have missed out on the issue, they may enter the stock at levels of Rs 1300-1350 with an upside potential of 1650-1700 at least in the long term. From a valuation front, pricing seems quite reasonable compared to other developing exchanges such as Hong Kong and Malaysia," said Silky Jain, Analyst, Nirmal Bang Securities, in an interview with ET Now.
So long-term investors can book profits around 1500 levels and maybe they can see a target around 1650 or so for the year end.
NEW DELHI: Multi-Commodity Exchange (MCX), the first Indian bourse to list on an exchange, has debuted at Rs 1,387, a 34% premium to its issue price and has the potential to rise up to Rs 1650-1700 in the long term, say analysts.
For investors who have missed out on the issue, they may enter the stock at levels of Rs 1300-1350 with an upside potential of 1650-1700 at least in the long term. From a valuation front, pricing seems quite reasonable compared to other developing exchanges such as Hong Kong and Malaysia,
Short-term retail investors can book profits at these levels. However, if they want to re-enter, they can wait for the stock to correct and re-enter around Rs 1150-1200 levels going forward," said Shweta Prabhu, Assistant Manager, Anand Rathi, talking about the MCX listing.
So long-term investors can book profits around 1500 levels and maybe they can see a target around 1650 or so for the year end," added Shweta Prabhu.
According to analysts, MCX valuation is attractive and provides room for further upside in the stock. The coming budget session may bring some surprise to investors if CTT is imposed on commodities, however most analysts remain wary of the above move.
But ahead of Friday's February jobs data, CNBC reports that the Labor Department and other government agencies are concerned some traders are illegally accessing data ahead of its official release while others are jamming agencies' websites to give only a handful of people access to information, slowing it down for everyone else.
In an effort to prevent potential future data breaches, the Labor Department has asked the company responsible for securing the nation's nuclear stockpile to analyze its security protocols. The U.S. Energy Information Administration is also targeting and blocking certain computer IP addresses that seem to show "malicious intent," according to CNBC reporting.
However, these stocks already are exhibiting some of the characteristics of a blue chip stock and so investors would do well to buy these stocks now for rich returns in the future.
BGR Energy Systems
Manappuram Finance
eClerx Services
Crompton Greaves
The three sectors of choice that I would have would be banking, auto and third would be infrastructure within which you will have a large assimilation of sub sectors such as capital goods, construction companies and so on.
I think the hurdle of 5000 points may not be a very significant hurdle as we have a few event risk before us. We have the result season right on us at this point of time. So, the market will be witnessing certain amount of volatility given the present senario.
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