Mitessh Thakkar of miteshthacker.com advises selling Arvind with a target of Rs 372.
Bears ruled the D-Street for the third consecutive day in a row and pushed the Nifty below its crucial long-term moving an average of 200-DEMA for the first time on Monday for the first time since November 2016. The Nifty has also registered its fresh low for the year 2018 as it made a strong bear candle.
The Nifty which opened with a positive bias failed to hold on to the momentum as bears took control of D-Street as it reclaimed 10,200 levels. The index slipped below its crucial 200-DEMA placed around 10,114 and now a closed below 10,000 could take Nifty towards 9700.
Traders should not hurry in creating long at the current juncture as long as Nifty trades below its 200-DEMA. A close above 10,200 could signal some short-term strength in the index.
The Nifty which opened at 10,215 rose to an intraday high of 10,224 before bears took control of D-Street. The index hit an intraday low of 10,075 before closing the day at 10,094, down 100.90 points or 0.99 percent.
Moneycontrol.com has collated a list of trading ideas from top market experts which one can take cues for better returns:
Ashwani Gujral of ashwanigujral.com
Sell Mindtree with a stop loss of Rs 790, target of Rs 755
Sell Tech Mahindra with a stop loss of Rs 620, target of Rs 595
Sell Union Bank with a stop loss of Rs 99, target of Rs 90
Sell Bank of India with a stop loss of Rs 104, target of Rs 92
Buy NTPC with a stop loss of Rs 163, target of Rs 176
Sell Canara Bank with a stoploss of Rs 257, target of Rs 242
Sell Yes Bank with a stoploss of Rs 306, target of Rs 292
Sell CG Power with a stoploss of Rs 80, target of Rs 68
Mitessh Thakkar of miteshthacker.com
Sell Arvind with a stop loss of Rs 392.50, target of Rs 372
Sell Dr Reddy's Lab with a stop loss of Rs 2143, target of Rs 2070
Sell JSW steel with a stop loss of Rs 290, target of Rs 270
Buy Reliance Industries with a stop loss of Rs 870, target of Rs 925
Buy Reliance capital with a stop loss of Rs 406, target of Rs 445
Buy Nestle India with a stoploss of Rs 7680, target of Rs 7900
Buy Titan Company with a stoploss of Rs 860, target of Rs 893
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.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.