Ashwani Gujral recommends buying Tata Consultancy Services with a stop loss of Rs 1860, target of Rs 1920 and Hindustan Unilever with a stop loss of Rs 1670, target of Rs 1725.
The 50-share NSE Nifty after opening at 10,786.05, which was also an intraday high, traded in a range of 60 points throughout the session and hit a day’s low of 10,726.25, before closing 20.10 points lower at 10,749.80.
The consolidation indicates that index could move on either side but today’s positive move in the Bank index suggested that banks may help Nifty reclaim 10,800 soon, experts said.
India VIX fell 0.41 percent to 12.60 levels. Lower volatility indicates limited downside and decline is being bought in the market.
According to Pivot charts, the key support level is placed at 10,722, followed by 10,694.2. If the index starts moving upwards, key resistance levels to watch out are 10,781.8 and 10,813.8.
The Nifty Bank index closed at 26,503.30, up 69.35 points. The important Pivot level, which will act as crucial support for the index, is placed at 26,412.87, followed by 26,322.43. On the upside, key resistance levels are placed at 26,596.07, followed by 26,688.84.
Buy Tata Consultancy Services with a stop loss of Rs 1860, target of Rs 1920
Buy Hindustan Unilever with a stop loss of Rs 1670, target of Rs 1725
Sell Jain Irrigation Systems with a stop loss of Rs 78, target of Rs 72
Sell Jet Airways with a stop loss of Rs 340, target of Rs 324
Sell Sun TV Network with a stop loss of Rs 780, target of Rs 750
Buy ITC with a stop loss of Rs 268.4 and target of Rs 282
Sell Cholamandalam Investment with a stop loss of Rs 1521 and target of Rs 1435
Sell IDFC with a stop loss of Rs 45.5 and target of Rs 42
Buy Yes Bank around Rs 346 with stop loss of Rs 339 for target of Rs 360
Buy Dalmia Bharat with a stop loss of Rs 2310 and target of Rs 2400
Buy Asian Paints with target at Rs 1350 and stop loss at Rs 1311
Buy Yes Bank with target at Rs 360 and stop loss at Rs 345
Sell Titan Company with target at Rs 800 and stop loss at Rs 848
Sell United Spirits with target at Rs 600 and stop loss at Rs 644
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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