Top buy and sell ideas by Sudarshan Sukhani, Mitessh Thakkar, Prakash Gaba for short term

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Prakash Gaba of prakashgaba.com suggests buying Bajaj Auto Pharma with the target at Rs 2810 and stop loss at Rs 2717.




The recovery in afternoon helped market close moderately higher on August 16 as traders await government's act to revive slowing economy. The sectoral trend was mixed with Nifty Bank and Auto indices gaining 0.7 percent and 1.15 percent respectively while Pharma, IT and Metal closed in red.

The BSE Sensex gained 38.80 points to close at 37,350.33 while the Nifty50 rose 18.40 points to 11,047.80 and formed Doji kind of pattern on daily charts as opening and closing values are almost equal.

For the week, the index lost 0.56 percent and saw Hammer kind of candle formation on weekly scale, which is bullish reversal candle by nature so there could be some upside in coming session. The broader markets gained 0.2 percent on Friday, but lost more than half a percent for the week.


According to the pivot charts, key support level is placed at 10,958.5, followed by 10,869.2. If the index starts moving upward, key resistance levels to watch out for are 11,102.9 and 11,158.

Buy Punjab National Bank (PNB) with a stop loss of Rs 66.5 and target of Rs 71.5

Buy Bata India with a stop loss of Rs 1454 and target of Rs 1510

Sell Dr. Reddy's Laboratories with a stop loss of Rs 2530 and target of Rs 2425

Buy Grasim Industries above Rs 760 with a stop loss of Rs 748 and a target of Rs 785

Prakash Gaba of prakashgaba.com

Buy Bajaj Auto with the target at Rs 2810 and stop loss at Rs 2717

Buy IndusInd Bank with the target at Rs 1475 and stop loss at Rs 1420

Buy Punjab National Bank (PNB) with the target at Rs 72 and stop loss at Rs 67

Buy UPL with the target at Rs 585 and stop loss at Rs 532

Sudarshan Sukhani of s2analytics.com

Buy Reliance Industries with stop loss at Rs 1255 and target at Rs 1295

Buy Hexaware with stop loss at Rs 381 and target of Rs 399

Buy Indraprastha Gas with the target at Rs 321 and stop loss at Rs 342

Buy IDFC First Bank with the target at Rs 44.5 and stop loss at Rs 47.5



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