Rajesh Agarwal of AUM Capital recommends buying State Bank of India with the stop loss at Rs 262 and target of Rs 280, a buy-in Hindalco Industries with stop-loss at Rs 241 and target of Rs 257 and a buy also in Mindtree with stop-loss at Rs 998 and target of Rs 1033.
The Nifty index made a strong bullish candle on the daily charts and has now moved above crucial short-term moving averages such as 5, 13 and 20-EMA. The Index made a bullish candle after a 'Hammer' like the pattern, which is a bullish sign and suggests that follow-up buying could be seen in the next few sessions as well.
The Nifty, which opened at 10,603.45, slipped marginally to 10,587 before bulls took charge of D-Street. The index rose to an intraday high of 10,698.35, before closing 91 points higher at 10,684.
India VIX fell 5.78 percent to 12.55. Falling volatility with rising put-call ratio suggests an overall bullish bias in the market.
According to Pivot charts, its key support is placed at 10,615.37, followed by 10,546.03. If the index starts moving upward, key resistance levels to watch out are 10,726.17 and 10,767.63.
The Nifty Bank index closed at 26,367.6. The important Pivot level, which will act as a crucial support for the index, is placed at 26,201.87, followed by 26,036.13. On the upside, key resistance levels are placed at 26,479.27, followed by 26,590.93.
Below are the top stocks which can be good near term bets:
Achin Goel of Bonanza Portfolio
Buy ACC with the target at Rs 1,450 and stop loss at Rs 1,249
Buy Bharat Electronics with the target at Rs 130 and stop loss at Rs 109
Buy Federal Bank with target at Rs 93 and stop loss at Rs 78
Buy Arvind with target at Rs 434 and stop loss at Rs 369
Buy Apollo Tyres with target at Rs 300 and stop loss at Rs 258
Prakash Gaba of prakashgaba.com
Buy Hindalco Industries with target at Rs 252 and stop loss at 244
Buy ITC with target at Rs 274 and stop loss at Rs 270
Rajesh Agarwal of AUM Capital
Buy State Bank of India with stop loss at Rs 262 and target of Rs 280
Buy Hindalco Industries with stop loss at Rs 241 and target of Rs 257
Buy Mindtree with stop loss at Rs 998 and target of Rs 1033
Buy BEML with stop loss at Rs 850 and target of Rs 873
Buy Chennai Petroleum Corporation with stop loss at Rs 287 and target of Rs 302.30
Ashwani Gujral of ashwanigujral.com
Buy Avanti Feeds with a stop loss of Rs 1575, target of Rs 1720
Buy Bajaj Electricals with a stop loss of Rs 530, target of Rs 560
Buy Can Fin Homes with a stop loss of Rs 357, target of Rs 374
Buy Thirumalai Chemicals with a stop loss of Rs 1400, target of Rs 1550
Buy Indiabulls Housing Finance with a stop loss of Rs 1160, target of Rs 1240
Sudarshan Sukhani of s2analytics.com
Buy Bharat Petroleum Corporation with stop loss at Rs 400 and target of Rs 430
Buy Mahindra & Mahindra with stop loss at Rs 905 and target of Rs 935
Buy Kotak Mahindra Bank with stop loss at Rs 1300 and target of Rs 1350
Sell Muthoot Finance with stop loss at Rs 385 and target of Rs 370
Sell Strides Shasun with stop loss at Rs 365 and target of Rs 335
Mitessh Thakkar of mitesshthakkar.com
Buy Bajaj Finance with a stop loss of Rs 2130 and target of Rs 2225
Buy Can Fin Homes with a stop loss of Rs 354.4 and target of Rs 380
Buy Marico with a stop loss below Rs 326 and target of Rs 360
Buy Indian Bank with a stop loss of Rs 339 and target of Rs360
Sell Shree Cements below Rs 15950 with stop loss of Rs 16315 and target of Rs 15200
Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.
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