Buy Tata Chemicals

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The markets opened on a quiet note and proceeded to drift lower as the bulls paused for breath after a big uptick session on Tuesday. This was along expected lines as was advocated on Monday (Bears are here to Stay; but Speculators have enough oppurtunities) . The market breadth was positive as the combined exchange figures were 2536:1373. The capitalisation of breadth was negative as the commensurate figures were Rs 8344 crore:Rs 9792 crore. The bulls refused to return on Thursday, even though the markets were trading at the lower end of intraday range.

On Friday Markets will be lack luster with not significant signs of bulls returning. The Indian market will take cue from the global markets, following the similar trend in other Asian and European markets.
The recommendations for today:

Tata Chemicals - >260.
- This stock is trading at lower levels of its 52 week high/low ( 431-199.50).
Also in recent past, Tata Chemicals Ltd has informed that the Company has entered into definitive agreements to acquire General Chemical Industrial Products Inc. (GCIP), a US based chemical Company for US$ 1,005 million. Harbinger Capital Partners is the majority owner of GCIP. The transaction is conditioned on the receipt of stockholder and other regulatory approvals.

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