Mitesh Thakkar of miteshthakkar.com advises selling ITC with a stop loss of Rs 239 and target of Rs 226.
Global markets due to Christmas break are expected to be rangebound and sideways. We can see a divergence in RSI which will be another major hindrance for the continuation of this momentum.
Ashwani Gujral of ashwanigujral.com suggests buying Bharti Airtel with a stop loss of Rs 445 and target of Rs 470.
Ashwani Gujral of ashwanigujral.com recommends buying Cholamandalam Investment with a stop loss of Rs 324, target of Rs 338 and State Bank of India with a stop loss of Rs 319, target of Rs 334.
Mitessh Thakkar of mitesshthakkar.com recommends selling Hero MotoCorp with a stoploss of Rs 2,620 and target of Rs 2,530-2,589.10 and advises buying Reliance Industries with a stoploss of Rs 1,458 and target of Rs 1,500-1,472.30.
FII remained net sellers last week as they sold equities worth Rs 1,272.41 crore.
According to CLSA, margin is unlikely to improve further with BS6 costs around the corner.
BSE Smallcap index declined 9 percent, BSE Midcap index down 2 percent, while BSE largecap index added 10 percent in last one year.
We continue to remain positive with higher target of 11,850-12,000 levels over the next two months but as the up move is being very sharp so some consolidation at current level cannot be ruled out.
A dealer survey by CLSA shows that demand continues to be weak and inventories high.
Any close above 11,200 would trigger short covering rally towards 11,287 and 11,440.
Nifty futures were trading around 11,039-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a positive opening for the broader indices in India, a gain of 25 points or 0.23 percent. Nifty futures were trading around 11,079-level on the Singaporean Exchange.
The Nifty continues to remain in an uptrend in the medium term, so buying on dips continues to be our preferred strategy.
The index is likely to face resistance around 11,080, followed by 11,120 while supports are placed at 10,990, and 10,950 levels
Mitessh Thakkar of mitesshthakkar.com advises buying Power Grid with a stop loss of Rs 206 and target of Rs 218.
As compared to other countries, the market share of electric cars is extremely low in India.
Ashwani Gujral of ashwanigujral.com recommends selling Jindal Steel & Power with a stop loss of Rs 134, target of Rs 126, Raymond with a stop loss of Rs 710, target of Rs 685 and Hero MotoCorp with a stop loss of Rs 2430, target of Rs 2350.
In 2019 so far, the Sensex and Nifty rallied 10 percent each while the BSE Midcap index fell 3 percent and Smallcap index lost 1 percent.
However, a failure to sustain above this resistance line placed at 11,870 may lead to minor profit booking dragging it lower to 11,700-11,570
Most stocks comprising the auto sector show strong support signs this week. They include Maruti Suzuki, Tata Motors and Hero MotoCorp
A fresh trend in Bank Nifty can emerge only beyond 30200 on the higher side and below 29500 on the lower side.
We may see some long unwinding around 11,900-11,950, which will lead to a small correction. Going forward, the support is likely to shift upward to 11,650-11,700
Rate cut usually acts as a sentiment booster and aid companies that have to service large debts
Sudarshan Sukhani of s2analytics.com recommends buying Hindustan Unilever with stop loss at Rs 1700 and target of Rs 1735, Dabur India with stop loss at Rs 436 and target of Rs 448 and DCB Bank with stop loss at Rs 195 and target of Rs 204.