Whenever momentum stocks start falling down and makes a distribution pattern, it is an indication that decline could be big.
Amit Gupta of ICICIdirect expects 10-15 percent upside in GAIL India and Petronet LNG and advises acccumulating Havells India at around Rs 500.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy L&T, Asian Paints, Whirlpool of India, Sun TV Network and Bajaj Finance and advises selling Ajanta Pharma and Dish TV.
The RSI at 62 indicates a favorable buying regime coupled with continued uptrend momentum depicted by MACD at 52 above its Signal Line. Based on Fibonacci retracement a major support will be seen at 9807 and resistance level will be at 10137.
September series' derivative data is stronger than August series as we have been continuously seeing open interest addition post expiry.
Ashwani Gujral of ashwanigujral.com recommends buying Bharti Infratel, Eicher Motors and Havells India.
Chandan Taparia of Motilal Oswal Securities recommends a Bull Call Spread in Infosys and advises buying Havells India and NTPC and suggests selling PNB.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell UPL and buy Havells India.
Ashwani Gujral of ashwanigujral.com recommends buying HDFC, Havells India and Asian Paints.
Ashwani Gujral of ashwanigujral.com recommends buying Titan Company and Havells India and advises selling Adani Enterprises.
Now, Nifty will face strong resistance in the range of 10,100 to 10,150 levels while it has support around 9,900 followed by 9,850.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy ACC, BEML, Bajaj Finance and Indraprastha Gas and sell Indo Count Industries.
Expectation of some bit of consolidation cannot be ruled out in the coming week and investors will be better off taking bets on individual stocks.
Sandeep Wagle of powermywealth.com recommends buying Havells India and Vedanta.
Sandeep Wagle of powermywealth.com is of the view that one can buy Havells India and sell Cadila Healthcare.
According to Mitessh Thakkar of miteshhthakkar.com, one can sell Amara Raja Batteries, HDIL and Tata Motors DVR and buy Havells India.
Market participants need to understand that all good things come to an end and with Wednesday’s decline from the peak, possibilities are index could begin a process of consolidation/time wise correction or retracement back to the previous breakout levels of 9,930.
Gaurav Ratnaparkhi of Sharekhan advises selling Adani Enterprises Future with a target of Rs 133.30.
is of the view that one can buy Havells India and sell Dr Reddy's Laboratories.
Mitessh Thakkar of miteshthacker.com suggests buying Havells India and sell Amara Raja Batteries.
Chandan Taparia of Motilal Oswal Securities recommends buying Petronet LNG, Havells India and Escorts.
Jay Thakkar of Anand Rathi Securities advises buying Kajaria Ceramics with a and target of Rs 706.
According to Mitessh Thakkar of mitesshthakkar.com, one can buy Ashok Leyland, CESC, Havells India and IRB Infra and can sell Container Corporation of India.,
Jay Thakkar of Anand Rathi Securities recommends buying Havells India with a target of Rs 494 and Kaveri Seed Company with a target of Rs 707.
According to Prakash Gaba of prakashgaba.com, crucial support for the Nifty is at 9920 and the resistance is at 10036-10069. On the other hand, Bank Nifty has support at 24650 and resistance at 25550.