We expect volatility to inch higher this week as participants will unwind and rollover their derivatives positions due to schedule F&O expiry on July 25
"One can look to go long around Rs 805 for a target of Rs 900 by following a strict stop loss placed below Rs 765," says Sameet Chavan of Angel Broking.
Prakash Gaba of prakashgaba.com recommends buying Axis Bank with target at Rs 560 and stop loss at Rs 540, a buy in MCX India with target at Rs 810 and stop loss at Rs 780 and a buy also in Tata Motors DVR with target at Rs 205 and stop loss at Rs 191.
“The recent hurdle placed around 10640 has been crossed on a closing basis and thus we may see an extension of this move towards 10,750 – 10,800 in coming days. On the lower side, the immediate base seems to have shifted higher towards 10,640 – 10,600 (earlier hurdle becomes support) from 10,495,” said Sameet Chavan of Angel Broking.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell Nifty and can buy HCL Tech.
The market breadth was in favour of the declines on Friday morning with 222 stocks advancing while 1383 stocks declined and 409 stocks remained unchanged. On the BSE, 348 stocks advanced while 1766 stocks declined and 64 remained unchanged.
Ashwani Gujral of ashwanigujral.com suggests buying Future Consumer, Future Lifestyle and MCX India.
Mitessh Thakkar of mitesshthakkar.com suggests buying Bharat Financial Inclusion, Eicher Motors and Apollo Hospitals and advises selling Fortis Healthcare and MCX India.
Mitessh Thakkar of miteshthacker.com recommends selling Fortis Healthcare and MCX India.