The Nifty50 picked up the pace in the last one hour of the trading session to reclaim 10,700 levels on Thursday which made a strong bullish candle on the daily candlestick charts. Traders are advised to remain long on the index and trade with a stop below 10,600.
The index manages to register a breakout above 10,700 levels but Nifty rollovers stood at 58 percent which was slightly below 72 percent recorded in April expiry and was lower than the 3-month average of 67.3 percent.
Analyst advise investors to remain cautious because despite witnessing a breakout the broader market closed in red, and the advance-decline ratio was also largely skewed in favour of bears. Follow up buying is required for an index to sustain momentum.
Below is the list of top stock trading ideas which can give good returns in the short term:
Rajesh Agarwal of AUM Capital
Buy Power Finance Corporation with stop loss at Rs 78 and target at Rs 85
Buy ICICI Bank with stop loss at Rs 280 and target at Rs 294
Buy Multi Commodity Exchange of India with stop loss at Rs 830 and target at Rs 885
Buy Tech Mahindra with stop loss at Rs 693 and target at Rs 734
Buy Take Solutions with stop loss at Rs 241 and target at Rs 257
Prakash Gaba of prakashgaba.com
Buy ACC with stop loss at Rs 1330 and target at Rs 1400
Buy HUL with stop loss at Rs 1600 and target at Rs 1650
Buy L&T Infotech with stop loss at Rs 1710 and target at Rs 1780
Sell Bharat Electronics with stop loss at Rs 117 and target at Rs 110
Ashwani Gujral of ashwanigujral.com
Sell Bharat Forge with stop loss at Rs 660 and target at Rs 635
Sell HDFC Bank with stop loss at Rs 2150 and target at Rs 2080
Sell IRB Infra with stop loss at Rs 235 and target at Rs 220
Buy HUL with stop loss at Rs 1595 and target at Rs 1635
Buy Tech Mahindra with stop loss at Rs 700 and target at Rs 735
Hadrien Mendonca of IIFL
Buy L&T Technology Services with stop loss at Rs 1275 and target at Rs 1436
Buy Coal India with stop loss at Rs 283 and target at Rs 319
Buy IDFC Bank with stop loss at Rs 39 and target at Rs 45
Rahul Mohindar of viratechindia.com
Buy Bata India with stop loss at Rs 740 and target at Rs 850
Buy Yes Bank with stop loss at Rs 335 and target at Rs 365
Buy ITC with stop loss at Rs 264 and target at Rs 288Disclaimer:
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