SP Tulsian of sptulsian.com told CNBC-TV18, "If one sees the sectors today which is doing well is technology sector. Again the tech sector has come in focus after having seen the corrections, may be some fresh shorts got created- longs have all exited. So respecting that trend to the sector because that is the only sector – if one sees the other sector like power, bank and FMCG, they are ruling marginally 5 bps plus minus. So I am going long on Wipro with a target of Rs 486 with a stoploss of Rs 476."
"One may short NMDC. The results have been bad with huge overbought positions, so we are seeing liquidations in the outstanding position also. So take a target of Rs 133 with stoploss of Rs 136," he said. "One may sell Bharat Heavy Electricals (BHEL). The capital good sector is into correction mode, BHEL is also seeing probably some profit booking coming in because the stock has been holding for quite sometime. So take a target of Rs 135 with stoploss of Rs 140." "One may sell Adani Enterprises. The two subsidiaries of the company that is Adani Power and Adani Port have disappointed the number, so one cannot expect this holding company to do fair well. So one may set a target of Rs 200 with stoploss of Rs 205. I think that Adani Enterprises met it's target of Rs 200, so may be one can take a target of Rs 196 to Rs 197 for remaining part of the day."Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
