Rajesh Agarwal of AUM Capital recommends buying Indraprastha Gas with stop loss at Rs 256 and target at Rs 276, a buy in Motherson Sumi Systems with stop loss at Rs 313 and target at Rs 333 and a buy also in ICICI Prudential Life Insurance with stop loss at Rs 398 and target at Rs 423.
The Nifty50 not only broke below its crucial support placed at 10,500 level on Wednesday but also its 50-day moving average at 10,460 which resulted in a strong bearish candle on the daily charts.
The Nifty50 remained under pressure from the word go. It opened at 10,521 and rose marginally to hit an intraday high of 10,533. It hit an intraday low of 10,417 before closing the day 106 points lower at 10,430.
According to Pivot charts, the key support level is placed at 10,387.57, followed by 10,344.83. If the index starts moving upwards, key resistance levels to watch out are 10,503.27 and 10,576.23.
The Nifty Bank index closed at 25,684.95, down 0.36 percent on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 25,570.1, followed by 25,455.3. On the upside, key resistance levels are placed at 25,851.8, followed by 26,018.7.
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Abhishek Mondal of Guiness Securities
Buy United Breweries with target at Rs 1,265 and stop loss at Rs 1,126
Sell Divis Laboratories with target at Rs 1040 and stop loss at Rs 1138
Sell Tata Communications with target at Rs 598 and stop loss at Rs 627
Prakash Gaba of prakashgaba.com
Buy Godrej Consumer Products with target at Rs 1120 and stop loss at Rs 1085
Buy Divis Laboratories with target at Rs 1060 and stop loss at Rs 1000
Rajesh Agarwal of AUM Capital
Buy Indraprastha Gas with stop loss at Rs 256 and target at Rs 276
Buy Motherson Sumi Systems with stop loss at Rs 313 and target at Rs 333
Buy ICICI Prudential Life Insurance with stop loss at Rs 398 and target at Rs 423
Sell Amara Raja Batteries with stop loss at Rs 800 and target of Rs 764
Sell Vedanta with stop loss at Rs 260 and target at Rs 238
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