Prakash Gaba of prakashgaba.com advises buying NIIT Tech with a stoploss of Rs 1150 and target of Rs 1250.
The market is likely to take cues from the negative sentiment across the globe. Asian and US markets have shown downward trends, while the Nifty futures on Singaporean Exchange also hint at a lower opening.
The market was in a bear trap on October 18 after consistent upmove in previous three consecutive trading sessions. The Nifty started the day with a 100-point rally but wiped out all gains in afternoon trade to close below the 10,500 levels and formed 'Bearish Engulfing' pattern on the daily candlestick charts.
A Bearish Engulfing Pattern consists of two candles. One candle is usually a small candle which is followed by a large black or red candlestick pattern that engulfs the short one or the previous candle.
The Nifty index opened gap up with 104 points gains at 10,688.70 to hit an intraday high of 10,710.15 but failed to hold its gains and corrected sharply in afternoon trade to hit day's low of 10,436.45. It witnessed selling pressure at its resistance of 10,650-10,700 zones and corrected by 257 points from its intraday high.
Ashwani Gujral of ashwanigujral.com
Sell DLF with a stoploss of Rs 148 and target of Rs 136
Sell Indian Bank with a stoploss of Rs 231 and target of Rs 216
Sell PNB with a stoploss of Rs 68 and target of Rs 62
Sell Mahindra and Mahindra Financial with a stoploss of Rs 371 and target of Rs 356
Buy Biocon with a stoploss of Rs 632 and target of Rs 650
Prakash Gaba of prakashgaba.com
Buy NIIT Tech with a stoploss of Rs 1150 and target of Rs 1250
Buy Berger Paints with a stoploss of Rs 290 and target of Rs 302
Sell Dewan Housing with a stoploss of Rs 273 and target of Rs 200
Sell Bharat Financial with a stoploss of Rs 980 and target of Rs 960
Mitessh Thakkar of mitesshthakkar.com
Sell Bajaj Finance with a stoploss of Rs 2220 and target of Rs 2000
Sell Eicher Motors with a stoploss of Rs 22500 and target of Rs 21000
Sell Britannia Industries with a stoploss of Rs 5601 and target of Rs 5450
Sell Capital Finance with a stoploss of Rs 480 and target of Rs 456Disclaimer: 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.