Technical Views | Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Mitessh Thakkar of miteshthacker.com recommends buying Cummins India with a stop loss below Rs 839 for target of Rs 900, Glenmark Pharma with a stop loss of Rs 685 and target of Rs 720 and M&M with a stop loss of Rs 792 and target of Rs 830.

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The market continued to rally for the third consecutive session on December 28, following positive lead from global peers. Easing tensions between Donald Trump and the Federal Reserve, and hope of likely positive talks between US and China over trade lifted investors sentiment. Stability in crude oil prices and rupee also aided the rally.

The 30-share BSE Sensex rose 269.44 points to 36,076.72 and the 50-share NSE Nifty climbed 80.10 points to 10,859.90. Both indices gained a percent in the week gone by.

The Nifty 50 formed a bullish candle on the daily charts and Hammer kind of pattern on weekly scale.

According to Pivot charts, the key support level is placed at 10,820.2, followed by 10,780.5. If the index starts moving upward, key resistance levels to watch out are 10,896.6 and then 10,933.3.

The Nifty Bank index closed at 27,125.25, up 246.70 points on December 28. The important Pivot level, which will act as crucial support for the index, is placed at 27,038.74, followed by 26,952.27. On the upside, key resistance levels are placed at 27,212.54, followed by 27,299.87.

Ashwani Gujral

Buy Glenmark Pharma with a stop loss of Rs 690, target of Rs 715

Buy Piramal Enterprises with a stop loss of Rs 2300, target of Rs 2450

Buy Cummins India with a stop loss of Rs 855, target of Rs 880

Buy Colgate Palmolive with a stop loss of Rs 1300, target of Rs 1355

Buy Canara Bank with a stop loss of Rs 273, target of Rs 287

SudarshanSukhani

Buy United Breweries with stop loss at Rs 1360 and target of Rs 1400

Buy Hexaware Tech with stop loss at Rs 325 and target of Rs 336

Buy Dr Reddy’s Labs with stop loss at Rs 2580 and target of Rs 2680

Buy Mahindra & Mahindra with stop loss at Rs 795 and target of Rs 820

Sell Bharti Infratel with stop loss at Rs 266 and target of Rs 259

Mitessh Thakkar

Buy Cummins India with a stop loss below Rs 839 for target of Rs 900

Buy Glenmark Pharma with a stop loss of Rs 685 and target of Rs 720

Buy M&M with a stop loss of Rs 792 and target of Rs 830

Sell Pidilite Industries around Rs 1105 with stop loss of Rs 1125 and target of Rs 1070.

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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