A reduction in personal income tax will lead to higher consumption and will be positive for many sectors, especially autos and consumers, said experts.
Ashwani Gujral of ashwanigujral.com recommends buying PVR with a stop loss of Rs 1960, target of Rs 2010 and Kotak Mahindra Bank with a stop loss of Rs 1630, target of Rs 1665.
PVR continued with its aggressive screen additions and is on track to open more than 90 screens in FY20, Morgan Stanley said.
As market was testing new highs, emergence of geopolitical tensions could force people to book profits, said experts
Mitessh Thakkar of mitesshthakkar.com suggests buying Axis Bank with target at Rs 785 and stop loss at Rs 751.
"We had a good broad-based rally in the market where few marquee large-cap names joined hands with quality mid-cap counters. It’s a sign of a healthy bull run, which we believe is likely to continue."
Further upsides are likely in the near term towards an immediate target of the cup and handle pattern that comes near 12,400 levels
Mitesh Thakkar of miteshthakkar.com recommends buying BPCL with a stop loss of Rs 533 for target of Rs 570 and NCC with a stop loss of Rs 59 for target of Rs 65.
Mitesh Thakkar of Miteshthakkar.com advises buying Bajaj Finserv with stop loss at Rs 8,540 and target of Rs 9,000.
The fall of July series was mainly led by selling pressure from foreign institutional investors (FIIs) desk. They cumulatively sold equities worth Rs. 13,035 crores in July series.
11,800-11,860 will act as resistance zone for the market. Crosses above 11,860 on a sustainable basis, Nifty can rally initially towards 12,000 and then 12,200.
Breach and sustenance above 11,760 on Nifty on tradable basis can help the rally to continue towards 11,900-12,000 levels
Broader market resumed up move in the last six sessions after forming a higher base at the support area. The Nifty Midcap and Smallcap has recorded faster retracement, signifying inherent strength.
Prakash Gaba of prakashgaba.com recommends buying Eicher Motors with target at Rs 21,500 and stop loss at Rs 20,000, United Spirits with target at Rs 555 and stop loss at Rs 532 and UltraTech Cement with target at Rs 4,200 and stop loss at Rs 4,050.
We believe ongoing consolidation would help it to cool off the overbought situation of the weekly stochastic oscillator (at 90), in turn, making the market healthier.
Mitessh Thakkar of mitesshthakkar.com is of the view that one may buy Indiabulls Housing with a target of Rs 765.
Sudarshan Sukhani of s2analytics.com recommends buying Tata Chemicals with stop loss at Rs 581 and target of Rs 610, Godrej Consumer Products with stop loss at Rs 709 and target of Rs 725 and Interglobe Aviation with stop loss at Rs 1305 and target of Rs 1342.
The Nifty midcap, smallcap indices continued to outperform. The last four weeks' up move helped Nifty smallcap index to completely retrace its preceding nine weeks' decline.
Ashwani Gujral of ashwanigujral.com recommends buying Bharti Infratel with a stop loss of Rs 293, target of Rs 307, NIIT Tech with a stop loss of Rs 1295, target of Rs 1340 and Mindtree with a stop loss of Rs 897, target of Rs 920.
Ashwani Gujral of ashwanigujral.com recommends buying V Guard Industries with a stop loss of Rs 230, target of Rs 242, Bata India with a stop loss of Rs 1120, target of Rs 1155 and PVR with a stop loss of Rs 1570, target of Rs 1610.
Analysts believe that the move by the government gives cinema owners the flexibility of pricing mechanism, which is a positive.
On the option front, 10,000 put option strike price is still holding a highest cumulative open interest followed by 10,500 strike price which is suggesting any fall is likely to be bought into
We advocate traders to buy this stock above Rs 1531 with a price target of Rs 1700 and a stop loss placed below Rs 1428, says Aditya Agarwal of Way2Wealth Brokers.
VIX continues to consolidate at elevated levels which is a cause of concern. VIX needs to move below 17 for market to see sustainable up move, says Ashish Chaturmohta of Sanctum Wealth Management
Rajesh Agarwal of AUM Capital recommends buying PVR with stop loss at Rs 1482 and target of Rs 1560, Jubilant Foodworks with stop loss at Rs 1298 and target of Rs 1365 and Godrej Properties with stop loss at Rs 680 and target of Rs 723.