BSE Samllcap index declined 9 percent, BSE Midcap index down 2 percent, while BSE largecap index added 10 percent in 2018.
Sudarshan Sukhani of s2analytics.com recommends buying BEL with stop loss at Rs 109 and target of Rs 125 and Maruti Suzuki with stop loss at Rs 7000 and target of Rs 7500.
Traders should use any dip for creating fresh longs as the current trend is likely to remain bullish with Nifty moving towards 11,750-11,800 levels in the coming sessions.
FII remained net buyers in the last week as they bought equities worth Rs 3213.17 crore, while Domestic Institutional Investors (DII) also bought equities worth of Rs 2184.81 crore.
Experts feel that economic activity is likely to remain muted and investors will be better off with companies that are likely to benefit the most from the corporate tax cut.
Sudarshan Sukhani of s2analytics.com recommends buying Exide Industries with stop loss at Rs 180 and target of Rs 188 and Larsen & Toubro with stop loss at Rs 1410 and target of Rs 1480.
A sustained move above crucial resistance of 11,730 will push prices higher towards previous swing high of 11,950, and can extend towards a life high of 12,103 too.
Hence here are 11 stocks where brokerages initiated coverage with a buy call, which could give 10-73 percent return:
Global uncertainties on growth in developed markets, unresolved trade tensions, other geopolitical risks (Brexit, oil attacks, etc.) are keeping global fund flows on the edge
The S&P BSE Mid-cap index gained 4.64 percent, S&P BSE Large-cap index rose 3.49 percent and the Small-cap Index was up 2.78 percent last week.
We can say investors got another stock to add to their portfolio and be bullish on this stock in long-term and always buy from a correction.
Any dip is likely to be a buying opportunity for traders until we trade above this level.
Dinesh Thakkar of Angel Broking said though MF inflows this year have slowed down, he was very confident that MF inflows will pick up from here on as market sentiment improves
Here are the top 10 picks by analyst with an upside of 7-14 percent in the short term:
Rajat Bose of rajatkbose.com recommends buying Godrej Consumer with stop loss below Rs 708.50 for targets of Rs 721 and Rs 724 and Mahindra & Mahindra with stop loss below Rs 584.80 for targets of Rs 607 and Rs 619.
A move above 11,700 could be an extremely strong sign for the bulls because above 11,700 the Nifty has the potential to make a record high
Volatility needs to move below 16 for market up move to sustain. However above moving 18, could lead to profit booking in market.
Among sectors we prefer to initiate longs in Auto, Banking and Metal space for reasonable upside as the risk reward remains favourable.
As many as 381 stocks, with a market cap of over Rs 500 crore, are trading above their respective industry P/E
Mitessh Thakkar of mitesshthakkar.com recommends buying Ashok Leyland above Rs 72.5 with stop loss of Rs 70.9 for target of Rs 77 and Divis Labs with a stop loss of Rs 1699 for target of Rs 1755.
A decisive break above 11,700 will definitely offer a range breakout, which will further open the gates for the index to retest 12,000 levels
Japanese brokerage firm Nomura has maintained its reduce call on the stock with a target price at Rs 235 per share as it expects growth to continue to lag peers.
Brokerages have raised target price on HUL, Infosys and Avenue Supermarts,while maintained their rating post their Q2 numbers.
Ashwani Gujral of ashwanigujral.com recommends buying Escorts with a stop loss of Rs 625, target of Rs 650 and Adani Enterprises with a stop loss of Rs 150, target of Rs 165.
Traders should use any dip for creating fresh longs positions as long as we are trading above 11,250 in Nifty (spot).