Ashwani Gujral recommends buying Asian Paints with a stop loss of Rs 1380, target of Rs 1420 and KPIT Tech with a stop loss of Rs 296, target of Rs 311.
The 30-share BSE hit a fresh record high of 36,747.87 before closing 146.52 points lower at 36,373.44 while the Nifty Midcap index lost a percent.
The Nifty after opening at 11,060.20 moved close to last week’s high to hit an intraday high of 11,076.20, but selling pressure in afternoon dragged it below the psychological 11,000-mark to hit day’s low of 10,956.30.
The index closed 27.50 points lower at 10,980.50, but managed to hold its 5-DEMA of 10,972.
India VIX moved up by 6.70 percent at 13.68 levels. VIX has gone to its highest levels in last 12 sessions amid political concern.
According to Pivot charts, the key support level is placed at 10,932.47, followed by 10,884.43. If the index starts moving upwards, key resistance levels to watch out are 11,052.37 and 11,124.23.
The Nifty Bank index closed at 26,880.9 on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,747.8, followed by 26,614.7. On the upside, key resistance levels are placed at 27,100.6, followed by 27,320.3.
Sell United Spirits with a stop loss of Rs 562, target of Rs 540
Sell Wockhardt with a stop loss of Rs 582, target of Rs 560
Sell Raymond with a stop loss of Rs 821, target of Rs 800
Buy Asian Paints with a stop loss of Rs 1380, target of Rs 1420
Buy KPIT Tech with a stop loss of Rs 296, target of Rs 311
Buy Tata Elxsi with a stop loss at Rs 1400 and target of Rs 1445
Buy Havells India with a stop loss at Rs 555 and target of Rs 576
Buy CG Power with a stop loss at Rs 56 and target of Rs 62
Sell Jet Airways with a stop loss at Rs 320 and target of Rs 290
Sell Vedanta with a stop loss at Rs 210 and target of Rs 195
Buy Indiabulls Housing Finance around Rs 1195-1190 with stop loss of Rs 1170 for target of Rs 1240
Sell Escorts around Rs 865 with stop loss of Rs 878 and target of Rs 840
Buy Bandhan Bank with a stop loss below Rs 578 for target of Rs 650
Buy ONGC with a stop loss of Rs 157.9 and target of Rs 167
Sell Ujjivan Financial Services below Rs 367 with stop loss of Rs 373.5 for target of Rs 355
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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