Market likely to be rangebound - Microsec

The market seems choppy and likely to remain rangebound going forward. Moreover F&O clearing settlement scheduled on September 26,2013 may induce some sort of volatility on the day. Softening of crude oil prices coupled with INR appreciation has led to the downward estimation of FY14 underrecovery which may induce some interest in the oil & gas space.

Consumer stocks may come in the limelight on the onset of the festive season.

Mid cap stocks like Crompton Greaves, Rallies India, can be bought at current levels. Long term investors can BUY NMDC, SBI, L&T, Dabur, Bajaj Auto, Cummins India, Swaraj Engines. BUY HPCL, BPCL, IOCL, Engineers India for 8-10% returns in the short term.

Source : Equity Bulls

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