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Buy or sell: Top stock trading ideas by market experts which are good short term bets

Rajesh Agarwal of AUM Capital recommends buying YES Bank with stop loss at Rs 213 and target of Rs 230, Hindustan Petroleum Corporation with stop loss at Rs 172 and target of Rs 188 and Hero MotoCorp with stop loss at Rs 2785 and target of Rs 2980.

October 09, 2018 / 08:12 AM IST
 
 
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The Nifty ended the volatile session in green with gains of 31 points on Monday making a ‘Hammer’ like pattern on the daily charts. The Nifty closed in green after shedding around 600 points in the last four sessions.

The Nifty bounced back from its crucial support placed at 10,200 levels. It reclaimed 10,300 levels on closing basis and now as long as it holds above this level, the bounce should take the Nifty towards 10,420, and 10,500 levels, suggest experts.

India VIX moved up by 2.12 percent at 20.15 levels but it slipped from its intraday swing high of 21.77 levels. Overall, higher volatility suggests a bear grip but a cool off in VIX with a topping out formation could form a short-term bottom in the market.

Technically, the crucial resistance is now placed at 10,500-11,000 levels and pullback towards the said level might face extensive selling pressure, suggest experts.

According to Pivot charts, the key support level is placed at 10,231.5, followed by 10,115.0. If the index starts moving upwards, key resistance levels to watch out are 10,431.4 and 10,514.8.

Close

The Nifty Bank index closed at 24,618.3. The important Pivot level, which will act as crucial support for the index, is placed at 24,323.8, followed by 24,029.3.

On the upside, key resistance levels are placed at 24,829, followed by 25,039.7.

Here are the top stock trading ideas which can give good returns in the near term:

Vinay Rajani of HDFC Securities

Buy Bata India with target at Rs 970 and stop loss at Rs 844

Buy Marico with target at Rs 335 and stop loss at Rs 294

Sell Chennai Petroleum with target at Rs 205 and stop loss at Rs 250

Rajesh Agarwal of AUM Capital

Buy YES Bank with stop loss at Rs 213 and target of Rs 230

Buy Hindustan Petroleum Corporation with stop loss at Rs 172 and target of Rs 188

Buy Hero MotoCorp with stop loss at Rs 2785 and target of Rs 2980

Buy Kotak Mahindra Bank with stop loss at Rs 1080 and target of Rs 1135

Buy Deepak Nitrite with stop loss at Rs 245 and target of Rs 274

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.
Moneycontrol News
first published: Oct 9, 2018 08:12 am

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