Here's the latest analysis and commentary by stock market guru SP Tulsian on what is moving the markets today.
NSE
“It is difficult to take a call for the near-term or maybe for a day or two for Yes Bank but it is definitely giving a buying opportunity because the process of the CEO selection is already seems to be on track and that will happen maybe once the names are submitted to Reserve Bank of India (RBI). So that will be taken positive. Overall, I don’t think much weakness will be seen from here, you may see a level of Rs 180 or so maybe for a couple of hours but for the investor, this is definitely giving a buying opportunity,” Tulsian told CNBC-TV18 on Monday.
“Going forward, I hope that the order flow will start reflecting into the sales performance of BEML which will be seen positive. Though the Q4 numbers always seem to be the best, quarterly numbers for BEML and BEL are not the right indications but I think that going forward, this will be taken as positive,” he said.
Speaking about the crude oil prices, Tulsian said, “When the Brent corrected to USD 68-69 per barrel, people were saying that probably it may not fall further. It seems to have factored in full price but no one can take a call and what I feel now that USD 60 per barrel seems to be the most optimistic bottom having formed and one should not get panicky even if it starts moving up back to USD 64-65 per barrel level. So take a range of USD 62-65 per barrel at least till we see the Organization of the Petroleum Exporting Countries (OPEC) meeting at Vienna. So till then this will be seen quite positively.”
With regards to aviation stocks, Tulsian said, “We are keeping overall positive view on Jet Airways going forward and even on other two aviation stocks as well like IndiGo and SpiceJet."
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