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

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 456

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