It would be advisable to remain light on positions and stock-specific.
Experts now feel that it is better to stay put in the market and remain stock-specific than focusing on the index
Sudarshan Sukhani of s2analytics.com recommends buying HDFC with stop loss at Rs 2010 and target of Rs 2040, Bata India with stop loss at Rs 1396 and target of Rs 1424 and Britannia Industries with stop loss at Rs 2955 and target of Rs 3015.
Few large-cap stocks are performing well that are contributing high in the index gain. However, if we talk about mid and smallcap, steam is gathering to give a breakout based on the charts
Ashwani Gujral of ashwanigujral.com recommends buying Can Fin Homes with a stop loss of Rs 355, target of Rs 372, Cholamandalam Investment with a stop loss of Rs 1470, target of Rs 1510 and Bajaj Finance with a stop loss of Rs 3100, target of Rs 3165.
The relative strength index (RSI) on the Nifty50 daily chart has formed a negative divergence, but a new high cannot be ruled out on a sustained trade above 11,680.
11,600-11,550 levels will be key support levels for the Nifty and current trend may likely to continue towards 11,800-11,850 levels.
Ashwani Gujral of ashwanigujral.com recommends buying Oriental Bank of Commerce with a stop loss of Rs 112, target of Rs 120, State Bank of India with a stop loss of Rs 325, target of Rs 341 and YES Bank with a stop loss of Rs 276, target of Rs 290.
Mitessh Thakkar of mitesshthakkar.com is of the view that one may buy Indiabulls Housing with a target of Rs 765.
In case of Housing Development Finance Corporation (HDFC), CLSA said housing demand is largely stable despite recent events in financial markets and the stock is among its top picks in the financial sector.
Ashwani Gujral of ashwanigujral.com recommends buying Titan Company with a stop loss of Rs 1055, target of Rs 1100, Manappuram Finance with a stop loss of Rs 100, target of Rs 112 and Sun Pharma with a stop loss of Rs 430, target of Rs 455.
Ashwani Gujral of ashwanigujral.com recommends buying YES Bank with a stop loss of Rs 208, target of Rs 224, Reliance Industries with a stop loss of Rs 1235, target of Rs 1285 and Rural Electrification Corporation with a stop loss of Rs 118, target of Rs 130.
Elara said NBFCs are expected to bear the brunt of tightening liquidity, down 18.6 percent YoY, whereas banks would benefit, up 69 percent YoY, due to improving credit deposit ratios and improvement in pricing power, given the stress in the NBFC space.
Prakash Gaba of prakashgaba.com recommends buying Dabur India with target at Rs 435 and stop loss at Rs 415 and Kajaria Ceremics with target at Rs 512 and stop loss at Rs 493.
Mitessh Thakkar of mitesshthakkar.com recommends buying Escorts with a stop loss of Rs 706 and target of Rs 745, HDFC with a stop loss of Rs 1982 and target of Rs 2060 and HDFC Bank with a stop loss of Rs 2132 and target of Rs 2185.
We would suggest investors to have a look at Pharma MNCs and Private Insurance Companies at the current moment.
Brent crude futures, the international benchmark for oil prices, have slipped around 30 percent since early October to trade around $60 a barrel from around $86 a barrel
Ashwani Gujral of ashwanigujral.com recommends buying Hindustan Unilever with a stop loss of Rs 1830, target of Rs 1885 and HDFC with a stop loss of Rs 1950, target of Rs 2010.
Sudarshan Sukhani of s2analytics.com suggests buying L&T Finance Holdings with stop loss at Rs 137 and target of Rs 142, ICICI Bank with stop loss at Rs 353 and target of Rs 363 and TCS with stop loss at Rs 1950 and target of Rs 2030.
MOSL’s FY19/20 Nifty EPS estimates have been cut by 4.4/2.9% to Rs 515/655 v/s Rs 539/674 earlier
Morgan Stanley said in its view, the existence of the NBFC/HFC business model is not under threat as these companies lend to diverse sections of the economy.
Elaborating on banks, analysts at the firm wrote that banks are finding the sweet spot of growth and credit quality.
Sudarshan Sukhani of s2analytics.com suggests buying Britannia Industries with stop loss at Rs 5700 and target of Rs 6300, Bank of Baroda with stop loss at Rs 110 and target of Rs 125 and Eicher Motors with stop loss at Rs 24000 and target of Rs 27500.
Foram Parekh of Indiabulls Ventures feels that earnings recovery will continue in H2FY19 but at a slower pace
The equity market is expected to witness positive momentum for a couple of sessions ahead of festive season, experts said.