Elliott wave method combined with Bollinger Bands and ROC indicator gives the overall context of the market, and range bound move between 12,100 and 11,650 can be expected.
Nifty Neo wave, historical PE levels suggest a correction could be in the offing.
The probable date of next low on the Bank Nifty will be in the first week of February and might coincide with the event day on February 1.
Ashish Kyal of Waves Strategy Advisors suggests buying BPCL with a target of Rs 690 and Mindtree with a target of Rs 570.
Vishal Malkan of malkansview.com recommends buying Zuari Agro Chemicals with a target of Rs 425 and Deepak Fertilisers with a target of Rs 330.
Ashish Kyal of Waves Strategy Advisors is of the view that one can buy Vedanta with a target of Rs 258 and Engineers India with a target of Rs 326.
Vijay Chopra of Enoch Ventures is of the view that one can buy Everest Kanto Cylinder with a target of Rs 42 and Sterlite Tech with a target of Rs 112.
Ashish Kyal of Waves Strategy Advisors recommends buying Edelweiss Financial with a target of Rs 142 and Gujarat State Fertilizers & Chemicals with a target of Rs 105.
Rakesh Bansal of RK Global recommends buying Bombay Dyeing with a target of Rs 65 and NOCIL with a target of Rs 70.