Finding true value - IIFL

Investors will look to nibble at stocks where they find true value even as the equity markets appear to have a downward bias for now. Rising Put Call Ratio in index options points to the fact that many are betting on the market reversing lower. The coming days will see some volatility as the July derivative contracts roll into expiry later this week.

A flat start is in the offing and the indices are expected to trade in a range. India's GDP will grow by around 6% in FY14, with the first quarter growth in the range of 5%, according to an economic outlook survey by the Federation of Indian Chambers of Commerce and Industry.

Reliance Industries Ltd could however boost the sentiment as the oil and gas major posted a 19% jump in net profit at Rs 5,352 crore on back of stronger margins in its core oil refining and petrochem businesses.

Source : Equity Bulls

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