Rajesh Agarwal of AUM Capital recommends buying Multi Commodity Exchange of India with stop loss at Rs 805 and target of Rs 858, Hindustan Petroleum Corporation with stop loss at Rs 272 and target of Rs 292 and State Bank of India with stop loss at Rs 254 and target of Rs 266.
The Nifty50 after opening higher at 10,939.65 wiped out early gains to hit an intraday low of 10,925.60, but managed to recoup those losses in morning trade itself and reclaimed psychological 11,000-mark in later part of the session. The index hit an intraday high of 11,018.50, before closing 71.10 points higher at 11,008.
The closing above 11,000-mark is a good thing but to maintain that momentum, the index has to close above 11,080 levels and then only it can be able to march towards its earlier life time high of 11,171 seen in January, experts said.
According to Pivot charts, the key support level is placed at 10,949.57, followed by 10,891.13. If the index starts moving upwards, key resistance levels to watch out are 11,042.47 and 11,076.93.
The Nifty Bank index closed at 27,008.10, up 328.3 points on Tuesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,760.77, followed by 26,513.43. On the upside, key resistance levels are placed at 27,148.37, followed by 27,288.63.
Here are the top stock trading ideas which can give good returns in the near term:
Rajesh Agarwal of AUM Capital
Buy Multi Commodity Exchange of India with stop loss at Rs 805 and target of Rs 858
Buy Hindustan Petroleum Corporation with stop loss at Rs 272 and target of Rs 292
Buy State Bank of India with stop loss at Rs 254 and target of Rs 266
Buy Arvind with stop loss at Rs 404 and target of Rs 424
Buy L&T Finance Holdings with stop loss at Rs 142 and target of Rs 154
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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