The benchmark index, BSE Sensex, opened negatively on Friday (Sep 05) at 14,569.01 after losing 330 points triggered by worldwide indications and lower oil.

For the week ended on August 23, inflationary data declined for the second time in a row to 12.34%, as compared to 12.40% during the previous week because of fall in the prices of primary goods.

Karvy Stock Broking Limited has maintained ‘buy’ rating on ONGC stock with an intraday target of Rs 1080.

According to Karvy, interested traders can purchase the stock between Rs 1030-1040 with a strict stop loss of Rs 1010. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 1087.

Indian equities marked their closure on a lower note on Thursday (Sep o4) ahead of inflation figures and the result of the crucial Nuclear Suppliers Group meeting.

Heavy selling activity was seen across realty, oil & gas, metal and FMCG stocks, whilst IT and auto stocks went up.

The Sensex closed the day after losing 150.76 points at 14,899.10. It also touched an intra-day high of 14,994.15 and an intra-day low of 14,766.01.

Technical analyst E Mathew has suggested investors to purchase Alstom Projects India Ltd (APIL) stock on declines in order to achieve a short-tern target of Rs 430.

The investors can achieve the target within a period of 3-4 weeks, and the strict stop loss for the suggested counter should be Rs 376.

Technical analyst Ashwani Gujral has maintained ‘buy’ rating on Housing Development and Infrastructure Limited (HDIL) stock with a short term target of Rs 415.

According to him, interested investors can purchase the stock above Rs 308 with a strict stop loss of Rs 275.

Today (Sep 04), the company’s shares opened at Rs 323.90 on the Bombay Stock Exchange (BSE), as against its last closure at Rs 325.85 on Monday (Sep 02). Current EPS & P/E ratio stood at 55.38 and 5.62 respectively. The share price has seen a 52-week high of Rs 1116.96 and a low of Rs 254.67 on BSE.

Stock market analyst Ashwani Gujral has maintained ‘buy’ rating on Orbit Corporation Limited stock with a short term of Rs 380 in 3-4 weeks.

According to Mr. Gujral, interested investors can purchase the stock above Rs 280 with a strict stop loss of Rs 250. If the stock market remains positive in the coming days, the stock pricing becomes more attractive, and reach above Rs 425 within the said time period.