Ashwani Gujral recommends buying Cipla with a stop loss of Rs 610, target of Rs 650, Bata India with a stop loss of Rs 854, target of Rs 870 and Jubilant Foodworks with a stop loss of Rs 1370, target of Rs 1420.
The 50-share NSE Nifty, which opened higher at 10,612.85 gained momentum in the later part of the session. The index hit an intraday high of 10,723.05, before closing above its crucial 50-DEMA. It ended the first session of July series at 10,714.30, up 125.20 points or 1.18 percent.
The index witnessed a strong reversal from the bearish trend made in last two trading sessions but for bulls to take control, the index needs to close above 10,785 in the coming session for confirmation, experts said.
India VIX fell down by 7.26 percent at 12.93 levels. On the option front, maximum Put open interest (OI) was seen at 10,600 followed by 10,500 strike while maximum Call OI was at 11,000 followed by 10,800 strike.
According to Pivot charts, the key support level is placed at 10,643.4, followed by 10,572.5. If the index starts moving upwards, key resistance levels to watch out are 10,754.1 and 10,793.9.
The Nifty Bank index closed at 26,364.2 on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 26,282.0, followed by 26,199.8. On the upside, key resistance levels are placed at 26,455.7, followed by 26,547.2.
Buy Cipla with a stop loss of Rs 610, target of Rs 650
Buy Bata India with a stop loss of Rs 854, target of Rs 870
Buy Jubilant Foodworks with a stop loss of Rs 1370, target of Rs 1420
Buy Bajaj Finance with a stop loss of Rs 2280, target of Rs 2360
Buy Tata Elxsi with a stop loss of Rs 1320, target of Rs 1365
Buy Apollo Hospitals with a stop loss of Rs 1018 and target of Rs 1110
Buy Bata India with a stop loss of Rs 846 and target of Rs 885
Buy Exide Industries with a stop loss below Rs 253 for target of Rs 270
Sell Indiabulls Housing Finance below Rs 1130 with stop loss of Rs 1148 and target of Rs 1095
Sell IndusInd Bank around Rs 1940 with stop loss of Rs 1958 for target of Rs 1900
Buy Yes Bank with a stop loss at Rs 335 and target of Rs 350
Buy Tata Global Beverage with a stop loss at Rs 265 and target of Rs 277
Buy NIIT Tech with stop loss at Rs 1080 and target of Rs 1155
Sell Century Textiles with stop loss at Rs 905 and target of Rs 860
Sell Sun TV with stop loss at Rs 795 and target of Rs 750
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.
Best services for customers with full technical support make your Financial Trading more easy click here to subscribe us for free >> Ripples Advisory