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Last Updated : Oct 10, 2018 08:05 AM IST | Source: Moneycontrol.com

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

Rajesh Agarwal of AUM Capital recommends buying Cholamandalam Investment with stop loss at Rs 1039 and target of Rs 1100, Adani Ports with stop loss at Rs 309 and target of Rs 330 and GSFC with stop loss at Rs 85 and target of Rs 94.

 
 
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The Nifty 50 ended the volatile session sharply lower on October 9, weighed down by rupee's new low and crude volatility. The index made a bearish candle formation on the daily charts resembling a 'Bearish Engulfing' pattern.

The Nifty 50 opened sharply higher at 10,390.30 and touched an intraday high of 10,397.60, but gradually wiped out gains in morning trade itself to trade lower.

In the last hour of trade, it rebounded, but within a few minutes of trade, it caught in a bear trap again and fell sharply to hit day's low of 10,279.35. The index closed 47 points lower at 10,301 amid volatility.

Close

India VIX fell by 1.93 percent to 19.75 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.

According to Pivot charts, the key support level is placed at 10,254.33, followed by 10,207.67. If the index starts moving upwards, key resistance levels to watch out are 10,372.63 and 10,444.27.

The Nifty Bank index closed at 24,527.65, down 90.70 points on Tuesday. The important Pivot level, which will act as crucial support for the index, is placed at 24,408.43, followed by 24,289.17. On the upside, key resistance levels are placed at 24,703.43, followed by 24,879.17.

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

Shitij Gandhi of SMC Global Securities

Sell ACC with target at Rs 1390 and stop loss at Rs 1535

Sell Exide Industries with target at Rs 229 and stop loss at Rs 258

Sell Hindustan Unilever with target at Rs 1424 and stop loss at Rs 1565

Rajesh Agarwal of AUM Capital

Buy Cholamandalam Investment with stop loss at Rs 1039 and target of Rs 1100

Buy Adani Ports with stop loss at Rs 309 and target of Rs 330

Buy GSFC with stop loss at Rs 85 and target of Rs 94

Buy United Breweries with stop loss at Rs 1125 and target of Rs 1200

Buy TCNS Clothing with stop loss at Rs 574 and target of Rs 600

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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First Published on Oct 10, 2018 08:05 am
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