Nifty registered a new lifetime high of 12,389 during the week and has been trading with a gain of around 0.81 percent.
As long as Nifty trades below 12,150, the probability of retesting the lows of 11,800 remains high. Some relief for bulls can be expected on a close above 12,250.
The stock can be bought at current level and on dips towards Rs 275 with a stop loss below Rs 265 and a target of Rs 320 levels, says Ashish Chaturmohta of Sanctum Wealth Management.
The Nifty closed above 11,200 levels, which has opened target towards 11,350-11,450 levels on the Nifty, technical chartists said.
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.
Given the fresh rally, Dinesh Rohira of 5nance.com expects the Nifty to trade at 11,360 levels on the upside and 11,200 levels on the downside on a weekly basis
Ashwani Gujral of ashwanigujral.com is of the view that one may prefer Motherson Sumi Systems.
Vishvesh Chauhan of Monarch Networth Capital is of the view that one may buy Elecon Engineering with a target of Rs 94.
The S&P BSE Sensex rose over 200 points in trade on Friday but there was plenty of action in individual stocks as more than 150 stocks hit a fresh 52-weeks high on the BSE.
Stocks which rose in the first six months of the financial year 2018 include socks like Indiabulls Ventures in the smallcap space led the rally, up 383 percent, followed by Toyam Industries which gained 368 percent, and HEG rose 333 percent.
Jay Thakkar of Anand Rathi Securities advises buying Mahanagar Gas with a target of Rs 1157.
Traders might have to brace for tough days ahead of expiry on Thursday but any dips are a welcome opportunity for investors to go shopping for their favourite stocks
In an interview to CNBC-TV18's Anuj Singhal and Surabhi Upadhyay, SP Tulsian of sptulsian.com shared his views on the fundamentals of the market and specific stocks.
Rakesh Bansal of R K Global advises buying EID Parry with a target of Rs 319.
According to Mayuresh Joshi of Angel Broking, one may prefer Phillips Carbon Black on declines.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his readings and outlook on specific stocks and sectors.
According to Vijay Chopra of enochventures.com, one may hold Phillips Carbon Black.
Prakash Gaba of prakashgaba.com is of the view that one may hold Phillips Carbon Black.
Jai Bala of Cashthechaos.com has a bullish view on auto space including Maruti Suzuki with a target price of more than Rs 5800.
Jai Bala of Cashthechaos.com is of the view that one can nibble into Phillips Carbon Black for a target of Rs 180-200.
Here are top 10 stocks to keep an eye on January 23 - ICICI Bank, Axis Bank, Cairn India, Prestige Estates, Biocon, Ipca Labs, Polaris, Phillips Carbon, Mahindra Holidays and HCL Infosystems.
Rajesh Agarwal, Director-Research at Eastern Financiers Limited is of the view that one may prefer HPCL and Oil India with short-term to medium-term perspective.
The company has nearly 24.9 lakh shares of CESC which are valued at around Rs 115 crore.
In an interview with CNBC-TV18, Aashish Tater, head of research, Fort Share Broking recommends Philip Carbon Black and Indraprastha Gas as his multibagger stocks. He believes there is a substantial upside from current levels on both these stocks
See 40-50% upside in Phillips Carbon Black, says Aashish Tater, Head of Research, Fortunewizard.com.