We expect the volatility to increase further as more companies are likely to come out with quarterly results.
Sudarshan Sukhani of s2analytics.com recommends buying Bata India with stop loss at Rs 1150 and target of Rs 1185, NIIT Tech with stop loss at Rs 1170 and target of Rs 1210 and RBL Bank with stop loss at Rs 568 and target of Rs 585.
Sudarshan Sukhani of s2analytics.com recommends buying RBL Bank with stop loss at Rs 567 and target of Rs 590, UPL with stop loss at Rs 755 and target of Rs 780 and Dabur India with stop loss at Rs 416 and target of Rs 429.
Sudarshan Sukhani of s2analytics.com advices selling Balkrishna Industries with a stoploss of Rs 910 and target of Rs 880.
Rajat Bose of rajatkbose.com recommends buying Cadila Healthcare with stop loss below Rs 350.80 for target of Rs 356.90 and Colgate Palmolive with stop loss below Rs 1259.90 for targets of Rs 1299 and Rs 1308.
Mitessh Thakkar of mitesshthakkar.com suggests buying Bajaj Finance with a stop loss of Rs 2414 and target of Rs 2490, Escorts with a stop loss of Rs 678 and target of Rs 718 and Balkrishna Industries with a stop loss of Rs 972 and target of Rs 1022.
Rajesh Agarwal of AUM Capital recommends buying RBL Bank with stop loss at Rs 552 and target of Rs 567, Indoco Remedies with stop loss at Rs 194 and target of Rs 210 and Adani Gas with stop loss at Rs 105 and target of Rs 120.
Given a strong rebound in the last session to hold above 10,550 levels, the immediate resistance for the index is placed at 10,616 levels followed by 10,690 level and support is seen at 10,450 levels.
Rajesh Agarwal of AUM Capital recommends buying Voltas with stop loss at Rs 523 and target of Rs 560, RBL Bank with stop loss at Rs 544 and target of Rs 562 and Strides Pharma Science with stop loss at Rs 462 and target of Rs 495.
Going forward, the Nifty is likely to consolidate within the range of 10,000 and 10,450. A decisive breakout on either side will confirm the future trend
Rajesh Agarwal of AUM Capital recommends selling Wipro with stop loss at Rs 315 and target of Rs 300 and Interglobe Aviation with stop loss at Rs 847 and target of Rs 780.
Morgan Stanley turns underweight on Yes Bank and RBL Bank, and Equal Weight on AU Small Finance Bank.
If you do not understand the company or market sentiments, do not buy individual companies, but Invest in a mutual fund.
In absence of any major cues, Indian market will be dependent on global cues this week as well as the movement of rupee against the US Dollar.
Sudarshan Sukhani of s2analytics.com suggests buying Aurobindo Pharma with a stop loss at Rs 780 and target of Rs 810, Mindtree with stop loss at Rs 1150 and target of Rs 1200 and RBL Bank with stop loss at Rs 590 and target of Rs 620.
On the lower side, 11484 followed by 11436 would now be seen as immediate and crucial supports. At this juncture, a strategy would be to focus on individual pockets that are providing better trading opportunities, says Sameet Chavan of Angel Broking.
A long position can be initiated here for the target of Rs 665 with a stop loss of Rs 575.
Crude prices and rupee would be important to watch at current levels as they are trading at important resistance levels after a sharp move in the past few weeks.
RBL Bank is likely to see improving return profile over the next couple of years, due to improving advances & loan mix, higher CASA, lower cost ratios and improving asset quality
Rajesh Agarwal of AUM Capital recommends buying JSW Steel with stop loss at Rs 345 and target of Rs 368, Cadila Healthcare with stop loss at Rs 388 and target of Rs 410 and LIC Housing Finance with stop loss at Rs 563 and target of Rs 585.
He expect Nifty to trade in the range of 11,600-11,420 with mixed bias.
The stock can be bought at current levels and on dips to Rs 580 with a stop loss below Rs 560 and a target of Rs 675 levels, says Ashish Chaturmohta of Sanctum Wealth Management.
We recommend buying RBL Bank for the upside target of 640, and keeping a stop loss below at Rs 565, says Nandish Shah of HDFC Securities.
If Nifty holds above 11,480, we expect the rally to continue towards 11,700-11,750 levels. On the downside, immediate support is seen at 11,480. A break below this level would see profit booking towards 11,340, says Ashish Chaturmohta of Sanctum Wealth Management.
Strong earnings have helped D-Street to skyrocket to fresh record highs in the last two months and stocks which rose in anticipation of good earnings in the small & midcap space delivered over 100 percent net profit growth.