The equity market may trade with a negative bias in the short-term, but the broader market will maintain its positive bias in the long-term, Vinod Nair of Geojit Financial Services says.
Historically speaking, the midcap and smallcap indices have never given negative returns for two consecutive years, and they have had a dismal 2018.
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Breaking below 11,460, a decline towards 11,350 can be seen where weekly rising trend line connecting lows of 10,005 and 10,586 comes
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.
Sudarshan Sukhani of s2analytics.com recommends buying Axis Bank with stop loss at Rs 798 and target of Rs 820 and Bata India with stop loss at Rs 1445 and target of Rs 1489.
A decisive trade above 11,840 will confirm short term trend reversal and Nifty can extend its move towards 11,980-12,070
We expect VIX to remain at elevated levels as markets head towards election outcome
Sudarshan Sukhani of s2analytics.com recommends buying Bajaj Finance with stop loss at Rs 2970 and target of Rs 3080, Berger Paints with stop loss at Rs 322 and target of Rs 327 and Hindustan Zinc with stop loss at Rs 272 and target of Rs 285.
Short-term support is seen at 11,200 in Nifty and 28,800 in Bank Nifty, and any dip should be accumulated for the upside target of 11,760 in Nifty and 30,400 in BankNifty.
VIX has seen cooling off from high of 19 this month. Further decline with be positive for the market and for breakout to sustain. Rise in VIX from current level would put a pause in current rally.
Mitessh Thakkar of mitesshthakkar.com recommends buying Bajaj Finance above Rs 2785 with stop loss of Rs 2764 and target of Rs 2840, Vodafone Idea above Rs 33 with stop loss of Rs 32.5 and target of Rs 35 and Petronet LNG with a stop loss of Rs 228 and target of Rs 245.
Ashwani Gujral of ashwanigujral.com recommends buying Adani Enterprises with a stop loss of Rs 138, target of Rs 150, L&T Finance Holdings with a stop loss of Rs 124, target of Rs 136 and Tata Steel with a stop loss of Rs 515, target of Rs 540.
Bollinger band used to analyze volatility breakout is almost flat suggesting sideways movement. At the same time volatility index, VIX has closed below 16 marks further adding to the range bound movement thesis.
The index witnessed a bearish candle on the weekly charts and going forward it would be difficult for the index to surpass 11000 levels convincingly in a hurry.
One can initiate long in the range of Rs 220-222 levels for the upside target of Rs 240-245 levels with stoploss below Rs 210.
Ashwani Gujral of ashwanigujral.com recommends buying Sun TV with a stop loss of Rs 525, target of Rs 540, Petronet LNG with a stop loss of Rs 220, target of Rs 236 and Bata India with a stop loss of Rs 1145, target of Rs 1180.
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.
We recommend buying for a positional target of Rs 230 in the coming days. The stop loss can be placed at Rs 212, says Sameet Chavan of Angel Broking.
Kotak retained its negative stance on downstream PSUs, even as rangebound global crude prices may ease the operating environment.
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 recommends selling Axis Bank with stop loss at Rs 627 and target of Rs 614, Syndicate Bank with stop loss at Rs 35.70 and target of Rs 33.30 and Jain Irrigation Systems with stop loss at Rs 67.05 and target of Rs 63.40.
Mitessh Thakkar of mitesshthakkar.com suggests buying Axis Bank with a stop loss of Rs 617 and target of Rs 645, Colagate Palmolive with a stop loss of Rs 1114 and target of Rs 1160 and IRB Infra above Rs 145 with stop loss of Rs 141.5 and target of Rs 154.
Prabhudas Lilladher says that the current volatility should be used as an opportunity accumulate fundamentally strong stocks for long term.
Sudarshan Sukhani of s2analytics.com suggests buying KPIT Technologies with stop loss at Rs 216 and target of Rs 228, Siemens with stop loss at Rs 910 and target of Rs 970 and Colgate Palmolive with stop loss at Rs 1100 and target of Rs 1150.