The Nifty which recouped most of its losses towards the close of the trade ended flat on Friday forming a ‘Doji’ type of candle for the second consecutive session in a row.
The index closed took support at its 5-days exponential moving average (DEMA) before bouncing back towards the opening levels. The index which opened at 10560 closed 1.2 points lower at 10564.
The Nifty index formed an indecisive pattern ‘Doji’ for the second consecutive session in a row and now a breakout above 10594 or a breakdown below 10509 will decide the direction for the markets.
India VIX fell down by 5.91 percent at 12.93. A decline in VIX suggests limited downside and a consolidative move in the market.
Below are the top trading ideas by market experts which can give good returns today:
Dinesh Rohira of 5nance.com
Chambal Fertilisers and Chemicals: Rating: Buy | Target: Rs 226 | Stop loss: Rs 190
Welspun India: Rating: Buy | Target: Rs 64 | Stop loss: Rs 50
Eveready Industries: Rating: Sell | Target: Rs 310 | Stop loss: Rs 350
Prakash Gaba of prakashgaba.com
Wockhardt: Rating: Buy | Target: Rs 840 | Stop loss: Rs 770
Bank of India: Rating: Sell | Target: Rs 96 | Stop loss: Rs 108
Rajesh Agarwal of AUM Capital
Wockhardt: Rating: Buy | Target: Rs 825 | Stop loss: Rs 772
Bata India: Rating: Buy | Target: Rs 834 | Stop loss: Rs 775
Coal India: Rating: Buy | Target: Rs 303 | Stop loss: Rs 284
Bharat Forge: Rating: Buy | Target: Rs 773 | Stop loss: Rs 755
BEML: Rating: Sell | Target: Rs 1056 | Stop loss: Rs 1122
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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