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Top buy & sell ideas by Mitessh Thakkar, Sudarshan Sukhani, Prakash Gaba for short term

Mitessh Thakkar of mitesshthakkar.com iis of the view that one can sell CESC with a stop loss of Rs 991, target of Rs 950, HDFC with a stop loss of Rs 1840, target of Rs 1790 and buy Bata India with a stop loss of Rs 799, target of Rs 855.

June 19, 2018 / 08:36 IST
The benchmark index Sensex gained 15 percent in the last 1-month. Moneycontrol tried to find out the stock which is in momentum trades and outperformed the benchmark index but still trading 70 percent below their 52-week high. From the BSE 500, 10 stocks make the cut. Data Source: ACE Equity.
     
     
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    The Nifty which started on a flat note failed to build on momentum due to weak global cues and slipped towards its crucial support placed around 10,800 on Monday. The index formed a ‘Bearish Belt Hold’ kind of pattern on daily charts.

    In Monday’s price action, Nifty opened at 10,830.20 and was also the intraday high for the index which resulted in no upper shadow. The bears took control of D-Street in morning trade and pushed the index below its crucial support placed at 5-exponential moving average (EMA).

    Investors are advised to tread with caution and if Nifty fails to reclaim 10,800 in Tuesday’s trading session, then there is a higher probability that it will slip towards its next crucial support, which is placed around 10,755.

    According to Pivot charts, its key support is placed at 10,781.33, followed by 10,762.87. If the index starts moving upward, key resistance levels to watch out are 10,824.23 and 10,848.67.

    The Nifty Bank index closed at 26,409.3. Important pivot level, which will act as a crucial support for the index, is placed at 26,328.64, followed by 26,247.97.

    Key resistance levels are placed at 26,483.74, followed by 26,558.17.

    In an interview to CNBC-TV18, top market experts recommend which stocks to pick for good short term gains:

    Mitessh Thakkar of mitesshthakkar.com

    Sell CESC with a stop loss of Rs 991, target of Rs 950

    Sell HDFC with a stop loss of Rs 1840, target of Rs 1790

    Buy Bata India with a stop loss of Rs 799, target of Rs 855

    Sell Shree Cements below Rs 15980 with stop loss of Rs 16300, target of Rs 15300

    Buy Piramal Enterprises around Rs 2540 - 2525, stop loss of Rs 2480 and target of Rs 2660

    Sudarshan Sukhani of s2analytics.com

    Buy United Breweries with stop loss at Rs  1270 and target of Rs 1315

    Buy Piramal Enterprises with stop loss at Rs 2500 and target of Rs 2650

    Buy Mahindra & Mahindra with stop loss at Rs 900 and target of Rs 930

    Sell Cummins India with stop loss at Rs 680 and target of Rs 650

    Sell Tata Power with stop loss at Rs 76 and target of Rs 73

    Prakash Gaba of prakashgaba.com

    Buy ICICI Bank with target at Rs 299 and stop loss at Rs 289

    Buy SAIL with target of Rs 90 and stop loss at Rs 85

    Sell Canara Bank with target at Rs 260 and stop loss at Rs 277

    Sell TCS with target at Rs 1800 and stop loss at Rs 1840

    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.

    Moneycontrol News
    first published: Jun 19, 2018 08:34 am

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