FairWealth Securities

Sintex Industries Buy Call: Sovid Gupta, FairWealth Securities

Sintex IndustriesSintex Industries, with strong balance sheet and huge cash balance is well Equipped to manage current challenging business Equipment. We estimates Sintex Industries to post net sales of 3300 crores and 4200 crores for FY09 and FY10 respectively, posting compounded growth rate of 40% for 4 years.

Expect NSE Nifty consolidation between 3150-3400 range: FairWealth Securities

Fair WealthNifty showed increased volatility around 3430 -3450 which happens to be the 200 DMA of the market and closed below this at 3384. Increasing volatility at this level is obvious as Nifty has rallied almost 1000 points from 2540 to 3510.

A consolidation can be seen around levels of 3150-3400 before market makes new highs.