The Nifty is likely to remain in a narrow range for the next few trading sessions with immediate support seen around 10,000-10,100 levels whereas 10,400-10,500 will act as a major hurdle.
Ashwani Gujral of ashwanigujral.com recommends buying KPIT Tech with a stop loss of Rs 225, target of Rs 242, Hexaware Tech with a stop loss of Rs 268, target of Rs 390 and a buy also on Jubilant Foodworks with a stop loss of Rs 2100, target of Rs 2220.
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 4 points or 0.04 percent.
Vishal Malkan of malkansview.com advises buying Canara Bank with a target of Rs 270.
"We prefer buying on dips, irrespective of US FOMC meet outcome, as long as the critical prolonged upward trending channel support placed around 10,000 mark is intact.” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management Ltd.
A list of important headlines from across news agencies that could help in your trade today.
For bulls to remain in control, Nifty has to cross 10,141 levels and then 10,163 which is the crucial 200-DEMA in the next few trading sessions. If the index manages to hold above these levels then a rally could stretch towards 10,276 levels.
Watch the interview of Mayuresh Joshi Angel Broking and Mitessh Thakkar www.mitesshthakkar.com with CNBC-TV18's Prashant Nair and Latha Venkatesh where they spoke about the road ahead for Indian markets and shared their views on specific stocks.
After falling for five consecutive sessions, the Indian market witnessed some bit of value buying along with short coverings at lower levels. However, the way, Nifty corrected from its intraday high, shows that the pain may not be over for markets.
Prasanth Prabhakaran, Senior President & CEO YES Securities is of the belief that the market is close to the bottom.
Dalmia Securities has recommended buy rating on Polyplex Corporation Ltd with a target price of Rs 702 in its research report dated February 27, 2018.
Centrum Wealth has recommended accumulate rating on Jain Irrigation Systems with a target price of Rs 139 in its research report dated March 01, 2018.
Centrum has recommended Hold rating on AIA Engineering with a target price of Rs 1588 in its research report dated March 01, 2018.
Bonanza is bullish on Berger Paints has recommended buy rating on the stock with a target price of Rs 305 in its research report dated March 05, 2018.
Angel Broking is bullish on Greenply Industries has recommended buy rating on the stock with a target price of Rs 395 in its research report dated March 03, 2018.
The Nifty50 opened at 10,051 and rose to an intraday high of 10,155. It slipped to an intraday low of 10,049 before closing the day 30 points higher at 10,124.
Reliance Industries, ICICI Bank, HDFC Bank, ONGC, Yes Bank, BPCL and UltraTech Cement declined up to 1.5 percent.
The latest analysis and commentary by stock market guru SP Tulsian of sptulsian.com on what is moving the markets today. Check out his top stock recommendations.
Ashwani Gujral of ashwanigujral.com suggests selling HDFC Bank and Canara Bank.
Ashwani Gujral of ashwanigujral.com is of the view that one may sell BPCL and L&T Finance.
Mitessh Thakkar of mitesshthakkar.com suggests buying Marico.
Watch the interview of Sharmila Joshi of sharmilajoshi.com and Rajat Bose of rajatkbose.com with Sumaira Abidi and Mangalam Maloo on CNBC-TV18, in which they shared their reading and outlook on market and specific stocks.
Ashwani Gujral of ashwanigujral.com is of the view that one may sell ICICI Bank and Jet Airways.
Mitessh Thakkar of mitesshthakkar.com is of the view that one may buy Jindal Steel.
While net sales by FIIs have worried the Street, Sakthi believes that India is not in a capitulation territory yet. She highlighted how the last time there was foreign investor capitulation two years ago.