Moneycontrol
Last Updated : Aug 09, 2018 11:50 AM IST | Source: Moneycontrol.com

Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Ashwani Gujral of ashwanigujral.com recommends buying ICICI Bank with a stop loss of Rs 315, target of Rs 332, Reliance Industries with a stop loss of Rs 1200, target of Rs 1265 and Ajanta Pharma with a stop loss of Rs 1170, target of Rs 1225.

Moneycontrol News @moneycontrolcom

Bulls pushed the Nifty index to a record high of 11,459.95 Wednesday after two straight days of consolidation, but analysts’ feel investors should tread with cautions as the index is near crucial resistance levels.

The index formed a bullish candle on the daily charts after two successive bearish candles. The next crucial resistance for the index is placed at 11,500-11530 while support is placed at 11,330, suggest experts.

The Nifty 50 which opened at 11,412 hit a record high of 11,459. It hit an intraday low of 11,379 before closing the day 60 points higher at 11,450.

The action on the banking space really stood out. Bank Nifty has been making higher lows from last four trading sessions and made a new lifetime high at 28,128 marks.

The index formed a Bullish candle on the daily scale with the highest ever daily closing ahead of weekly expiry day. It has to hold above 27,900 zones to extend its move towards 28,250 zones while major support is seen at 27,650 zones.

According to Pivot charts, the key support level is placed at 11,399.53, followed by 11,349.07. If the index starts moving upwards, key resistance levels to watch out are 11,480.23 and 11,510.47.

The Nifty Bank index closed at 28,062.4. The important Pivot level, which will act as crucial support for the index, is placed at 27,904.57, followed by 27,746.73. On the upside, key resistance levels are placed at 28,174.46, followed by 28,286.53.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns: 

Ashwani Gujral of ashwanigujral.com

Buy ICICI Bank with a stop loss of Rs 315, target of Rs 332

Buy Reliance Industries with a stop loss of Rs 1200, target of Rs 1265

Buy Ajanta Pharma with a stop loss of Rs 1170, target of Rs 1225

Buy HEG with a stop loss of Rs 4200, target of Rs 4550

Buy Graphite India with a stop loss of Rs 1040, target of Rs 1100

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Sudarshan Sukhani of s2analytics.com

Buy Hindustan Unilever with a stop loss at Rs 1740 and target of Rs 1800

Buy IndusInd Bank with a stop loss at Rs 1980 and target of Rs 2040

Buy Strides Shasun with a stop loss at Rs 400 and target of Rs 430

Sell Bajaj Auto with a stop loss at Rs 2700 and target of Rs 2600

Sell CESC with a stop loss at Rs 940 and target of Rs 910

Mitessh Thakkar of mitesshthakkar.com

Buy Bharat Electronics with a stop loss of Rs 116 and target of Rs 129

Buy IDFC with a stop loss of Rs 47.3 and target of Rs 52

Sell Lupin with a stop loss of Rs 840.5 and target of Rs 795

Sell Raymond with a stop loss of Rs 792 and target of Rs 755

Buy RBL Bank with a stop loss of Rs 563 and target of Rs 588

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com/CNBC-TV18 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.
First Published on Aug 9, 2018 08:12 am
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