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Prakash Gaba of prakashgaba.com suggests buying Berger Paints with target at Rs 350 and stop loss at Rs 320, Eicher Motors with target at Rs 30000 and stop loss at Rs 28500 and Kotak Mahindra Bank with target at Rs 1310 and stop loss at Rs 1272.
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Rajesh Agarwal of AUM Capital recommends buying Jindal Steel & Power with a stop loss at Rs 213 and target of Rs 223, Capital First with stop loss at Rs 568 and target of Rs 594 and United Breweries with stop loss at Rs 1175 and target of Rs 1230.
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Rajesh Agarwal of AUM Capital recommends buying Multi Commodity Exchange of India with stop loss at Rs 864 and traget of Rs 904, Jindal Steel & Power with stop loss at Rs 200 and target of Rs 213 and Britannia Industries with stop loss at Rs 6410 and target of Rs 6695.
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Rajesh Agarwal of AUM Capital recommends buying Indian Oil Corporation with stop loss at Rs 161 and target of Rs 171, NBCC (India) with stop loss at Rs 67 and target of Rs 75 and Jindal Steel & Power with stop loss at Rs 198 and target of Rs 212.
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Rajesh Agarwal of Aum Capital advises buying Mahanagar Gas with a target Rs 859.
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Ashwani Gujral of ashwanigujral.com advises buying Asian Paints with a target of Rs 1410.
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Price can be expected to head higher in the days ahead, potentially towards Rs 235 and Rs 250 marks. View will invalidated if it closes below Rs 205 mark, says Shabbir Kayyumi of Narnolia Financial Advisors.
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“We expect the Nifty to trend sideways for the next few trading session. On the flip side, the index has to close below 10,550 to change this sideways movement thesis,” says Shabbir Kayyumi of Narnolia Financial Advisors
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With challenges on the macro front and increasing political headwinds faced by the BJP heading into the 2019 general elections, Prabhudas Lilladher believes traders are likely to remain cautious
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We advise traders to short this counter at the current level of Rs 225 with a price target of Rs 205, says Aditya Agarwal of Way2Wealth Brokers.
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The Nifty is trading in a range of 10,700 – 10,900 zones and due to such range bound activities daily Bollinger band has contracted further. Hence, we are likely to see a high volatility in coming trading sessions, says Aditya Agarwal of Way2Wealth Brokers.
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Motilal Oswal believes merchant capacities with low variable cost will either be able to seek power purchase agreements (PPAs) or realise better margins in merchant sales.
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In terms of returns, the BSE Midcap and Smallcap indices saw a cut of 11 percent and over 14 percent so far in 2018, compared to an over 1 percent return in the Sensex.
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Prakash Gaba of prakashgaba.com recommends buying Dabur India with target at Rs 385 and stop loss at Rs 374, Exide Industries with target at Rs 266 and stop loss at Rs 252 and a buy also in Hindalco Industries with target at Rs 255 and stop loss at Rs 237.
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Sudarshan Sukhani of s2analytics.com recommends buying Mahindra & Mahindra with stop loss at Rs 820 and target of Rs 850, a buy in Mindtree with stop loss at Rs 1020 and target of Rs 1065 and a buy also in Godrej Consumer Products with stop loss at Rs 1090 and target at Rs 1135.
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Prakash Gaba of prakashgaba.com recommends buying Axis Bank with target at Rs 560 and stop loss at Rs 540, a buy in MCX India with target at Rs 810 and stop loss at Rs 780 and a buy also in Tata Motors DVR with target at Rs 205 and stop loss at Rs 191.
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Rajesh Agarwal of AUM Capital recommends buying India Cements with stop loss at Rs 136 and target at Rs 146, a buy in BEML with stop loss at Rs 1040 and target at Rs 1095 and a buy also in CESC with stop loss at Rs 1045 and target at Rs 1085.
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"Nifty may find support around the 10,600 mark. If it fails to hold this mark, the index may correction till the 10,550 zone. Strong hurdle is seen around 10,660 levels. A decisive trade above these levels would add momentum on the upside," says Rajesh Agarwal of AUM Capital.
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"We recommend traders to sell this stock in a range of Rs 245 – 250 with a price target of Rs 218. A stop loss should be placed above Rs 264," says Aditya Agarwal, Head Technical Research at Way2Wealth Brokers.
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Nifty’s weekly relative strength index (RSI) (14) is hovering near its crucial level of 60. At present, 10,640 will act as immediate support and any break below this level will temporarily halt the current optimism. In that case, the Nifty is likely to correct towards 10,540–10,490 levels.
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Rajat Bose of rajatkbose.com is of the view that one can buy ACC with stop loss below Rs 1529.80 and target at Rs 1551, a buy on Bharti Infratel with stop loss below Rs 320 while targets are Rs 332 and Rs 335 while one can sell Asian Paints with stop loss above Rs 1216 and targets are Rs 1197 and Rs 1182.
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“Nifty consolidation around 61.8 percent Fibonacci retracement of the last downfall from the all-time high is likely. Buy-on-dips is advised.” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management Ltd.
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Rajesh Agarwal of AUM Capital recommends buying Jindal Steel & Power with target of Rs 263 and stop loss at Rs 245 and CESC with target of Rs 1078 and stop loss at Rs 1028.
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"Steel production is at an inflection and expected to grow at 29 percent CAGR to 6.4MT over FY18-20. Strong long product prices in India, operating leverage and timely volume growth augur well for earnings," says Yogesh Mehta, Vice President - Equity Advisory at Motilal Oswal.
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On shorter time frame, the levels 10,550 levels may act as near term hurdle i.e. 50 percent Retracement level, says Rajesh Agarwal, Head of Research at AUM Capital Markets.
