We expect volatility to continue as participants will be reacting list of events on both domestic and global front
Early trends put NDA in a comfortable position to form the government that has, to an extent, already been factored by the market after exit polls
Volatility has seen steady rise in last couple of weeks. Hence further rise above 17 will be a cause of concern for the market.
Bank Nifty remains a buy on dip till it trades above 28,750.
Ashwani Gujral of ashwanigujral.com recommends buying Reliance Industries with a stop loss of Rs 1100, target of Rs 1175, Hindustan Unilever with a stop loss of Rs 1740, target of Rs 1775 and Axis Bank with a stop loss of Rs 670, target of Rs 695.
The stock has started trading below 20-Day Moving Average and RSI is suggesting that momentum is likely on the downside, says Rudra Shares & Stock Brokers.
In coming days, 100-day Moving Average (10,856) will act as a major resistance as bulls have failed to surpass it thrice. Decisive breakout of the level could result in fresh move till 10,980
Mitessh Thakkar of mitesshthakkar.com recommends buying Cummins India with a stop loss of Rs 812.5 and target of Rs 865, Mahanagar Gas with a stop loss of Rs 875 and target of Rs 950 and Power Grid with a stop loss of Rs 188 and target of Rs 202.
Ashwani Gujral of ashwanigujral.com recommends buying Titan Company with a stop loss of Rs 920, target of Rs 945, Ajanta Pharma with a stop loss of Rs 1130, target of Rs 1165 and Bajaj Finance with a stop loss of Rs 2400, target of Rs 2520.
Sudarshan Sukhani of s2analytics.com suggests buying Adani Ports with stop loss at Rs 321 and target of Rs 372, Ajanta Pharma with stop loss at Rs 1050 and target of Rs 1180 and MRF with stop loss at Rs 65200 and target of Rs 68500.
Bulls should get cautious if Nifty falls below 10,450 followed by 10,380 levels, writes Shabbir Kayyumi of Narnolia Financial Advisors
Rajesh Agarwal of AUM Capital recommends buying J Kumar Infraprojects with stop loss at Rs 264 and target of Rs 280, Power Grid Corp with stop loss at Rs 192 and target of Rs 200 and ITC with stop loss at Rs 313 and target of Rs 329.
Rahul Mohindar of viratechindia.com recommends buying Indraprastha Gas with stop loss of Rs 290 and target of Rs 325 and Yes Bank with stop loss at Rs 370 and target of Rs 403.
Hadrien Mendonca of IIFL suggests buying SBI with a target Rs 315.
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.
Prakash Gaba of prakashgaba.com is of the view that one can buy Apollo Hospitals with target at Rs 1060 and stop loss at Rs 1020 and also buy Power Grid with target at Rs 205 and stop loss at Rs 198 while advises selling Indian Oil Corporation with target at Rs 163 and stop loss at Rs 170.
“I do have a few substitutes to juice up the portfolio, if conditions change,” says Ayon Mukhopadhyay of IIFL Institutional Equities for UK and Europe
Pharmaceutical majors Cipla and Dr Reddy’s Labs will announce Q4 earnings on Monday while OMC majors IOC and HPCL will declare their results on same day.
With the improvement in the capitalisation-to-capex ratio, steady regulated Return on Equity (ROE), the research firm is of the view that Power Grid fundamentals would continue to remain strong.
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"We are expecting an upside move in the counter up to to the level of Rs 220-225 while downside support comes at Rs 195 level," says Sumeet Bagadia, Associate Director, Research at choiceindia.com.
"Nifty has to cross 10,555 levels decisively for further upmove. Sustenance trade above 10,555 marks may add momentum on upside till 10,650-10,670 levels," says RajeshAgarwal of AUM Capital.
Prakash Gaba of prakashgaba.com recommends buying CG Power with target at Rs 84 and stop loss at Rs 81.50, a buy on ITC with target at Rs 275 and stop loss at Rs 265 and a buy also on Jet Airways with target at Rs 680 and stop loss at Rs 630.
Now all eyes are on corporate earnings and Karnataka elections along with crude oil movement, experts suggest.
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