Moneycontrol News
Global concerns and rupee volatility dragged the market near seven-month low on October 23. After a sharp gap down opening the Nifty 50 traded lower throughout the session and closed near its starting point of the day.
The index made a small bullish candle and formed 'Long Legged Doji' pattern on the daily candlestick charts.
The Nifty50 after the gap down opening traded range bound and extended losses in the second half of the session to hit an intraday low of 10,102.35. The index managed to recover some losses in late trade but still closed 98.50 points lower at 10,146.80.
India VIX fell sharply by 10.87 percent at 19.03. During the session volatility index made a high of 22.35 and witnessed a cool off even after the overall weakness in the Nifty index which suggests an early sign of consolidation in the market. However, VIX has to go down below 17-16 zones to rescue the bulls after the sharp cut of last two months.
Here are the top stock trading ideas which can give good returns in the near term:
Shitij Gandhi of SMC Global Securities
Buy Colgate Palmolive (India) with target at Rs 1,200 and stop loss at Rs 1,075
Sell Divis Laboratories with target at Rs 1,145 and stop loss at Rs 1,310
Sell Strides Pharma Science with target at Rs 365 and stop loss at Rs 440
Rajesh Agarwal of AUM Capital
Buy Dalmia Bharat with stop loss at Rs 1994 and target of Rs 2077
Buy Bajaj Auto with stop loss at Rs 2548 and target of Rs 2630
Buy Interglobe Aviation with stop loss at Rs 788 and target of Rs 828
Buy Bharat Petroleum Corporation with stop loss at Rs 259 and target of Rs 284
Buy Multi Commodity Exchange of India with stop loss at Rs 719 and target of Rs 770
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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