Sudarshan Sukhani of s2analytics.com recommends buying Exide Industries with stop loss at Rs 188 and target of Rs 201, HDFC with stop loss at Rs 2150 and target of Rs 2400 and Jindal Steel & Power with stop loss at Rs 141 and target of Rs 152.
Indications are in the favour of further consolidation and we expect the Nifty50 to hover within the 11,700-12,100 range in the coming week.
Ashwani Gujral of ashwanigujral.com recommends buying Axis Bank with a stop loss of Rs 728, target of Rs 750, HDFC with a stop loss of Rs 2200, target of Rs 2310 and State Bank of India with a stop loss of Rs 310, target of Rs 334.
VK Vijaykumar of Geojit Financial Service feels the proposed AIF is better than the earlier one since this also includes projects referred to NCLT.
In the last seven day's rally (From Oct 25 to Nov 5) S&P BSE Sensex rallied 3 percent.
Mitesh Thakkar of Miteshthakkar.com advises buying Bajaj Finserv with stop loss at Rs 8,540 and target of Rs 9,000.
The BSE Sensex already surpassed earlier record-high and made a fresh high of 40,392.22 last week, showing over 11 percent gains from September lows.
Given current market sentiment and high perceived risk towards corporate governance issues, it is best to avoid poorly governed mid and smallcap companies with question marks on their financials, Rusmik Oza advised.
Nifty Put-Call option distribution data is suggesting is support at 11,400 levels and resistance at 11,800 levels.
Traders should use any dip for creating fresh longs as the current trend is likely to remain bullish with Nifty moving towards 11,750-11,800 levels in the coming sessions.
Experts feel that economic activity is likely to remain muted and investors will be better off with companies that are likely to benefit the most from the corporate tax cut.
There is strong support around 11,000 for Nifty, and, if it breaks below that, the Nifty could test 10,850-10,800 levels, experts feel.
For the markets to extend the recent euphoria, the Nifty will have to clear the 11,700-mark.
According to CLSA, GDP growth in FY20 is likely to be around 6 percent, much lower lower than the RBI's 6.9 percent projection.
Sectors with positive outlooks are real estate, small appliances and branded apparel, while outlook on autos, select staples and global commodities is more cautious.
The golden rule of investment is to pour money in stocks that are trading at attractive levels compared to their intrinsic value, thus allowing investors to create wealth over a period of time
At this juncture, the pragmatic approach would be to take one step at a time and focus more on individual stocks.
Despite the big names disappointing traders, there are stocks that have encouraged brokerages to raise target price on them
Mitessh Thakkar of mitesshthakkar.com recommends buying Asian Paints with a stop loss of Rs 1386 and target of Rs 1440 and Zee Entertainment above Rs 368 with stop loss of Rs 363 and target of Rs 382.
Given HDFC’s solid fundamentals and favourable macro traits, we believe the company is well positioned for long term growth and initiate our coverage on HDFC with a BUY rating and a target price of Rs 2,539 per share.
Prakash Gaba of prakashgaba.com recommends buying Mahindra & Mahindra with target at Rs 675 and stop loss at Rs 650, Mahanagar Gas with target at Rs 875 and stop loss at Rs 854 and Tata Chemicals with target at Rs 653 and stop loss at Rs 630.
Given HDFC’s solid fundamentals and favourable macro traits, we believe the company is well positioned for long term growth.
HDFC will also buy 0.4 percent stake held by a few employees for Rs 10.84 crore. In total, the corporation will buy 51.2 percent stake for Rs 1,346.84 crore
CLSA said that the intervention of Reserve Bank of India (RBI) may be required as DHFL default can expose Rs 1 lakh crore in borrowing to the risk of default/haircuts
Bank Nifty options data for upcoming weekly expiry depicts 31,000 as strong support as aggressive Put writing is seen at 31,000 and on upside the highest Call OI is at 32,000, which can act as strong resistance