Looking at the broad-based participation on Friday, especially from the banking space, we will not be surprised to head towards a record high in the first half of the forthcoming week.
We advise traders to continue with a stock-centric approach. It is advisable to stay light and avoid aggressive bets till the time global volatility subsides, said Sameet Chavan
It is better not to trade aggressively in the index and carrying of overnight positions is strictly avoided, said Sameet Chavan.
With its deceptive moves, the market is keeping traders on the edge. Can the famous saying ‘Sell in May and Go away' be true this time? Read on to know Sameet Chavan's views and his top bets right now
For Nifty, the immediate resistance zone can be seen around 14,575 – 14,650. A sustainable move beyond 14,650 would negate the possibility of further correction and resume the upward march.
The next milestone of 13000 is likely to be achieved very soon; in fact, we do not rule out the possibility of reaching 13100 – 13200 in the forthcoming week itself.
One can never catch the absolute bottom and for investors, it’s always advisable to latch on to their desired stocks in a staggered manner in such corrective phases, says Sameet Chavan of Angel Broking Ltd.
Nifty has to continue to hold above 10750-10777 zones to extend its move towards crucial hurdle at 10985 and above that, only a fresh leg of the rally could start.
Sumeet Jain of Destimoney Securities advises buying BEML with a target of Rs 1750.
Rakesh Bansal of RK Global advises buying Adani Enterprises with a target of Rs 147.
Sumeet Jain of Destimoney Securities suggests buying Sun Pharma Advanced with a target of Rs 354.
Rakesh Bansal of RK Global advises buying Anant Raj with a target of Rs 74.
Rakesh Bansal of RK Global is of the view that one may buy Bharat Forge with a target of Rs 1197.
Sumeet Jain of Destimoney Securities advises buying DCB Bank with a target of Rs 209.
Vishvesh Chauhan of Monarch Networth Capital is of the view that one may buy Godfrey Phillips India with a target of Rs 1400.
Vishvesh Chauhan of Monarch Networth Capital is of the view that one may buy Britannia Industries with a target of Rs 3870.
Rakesh Bansal of RK Global is of the view that one may buy NHPC with a target of Rs 35.
Rakesh Bansal of RK Global is of the view that one may buy NHPC with a target of Rs 35.
Sameet Chavan of Angel Broking advises buying Century Textiles and Industries with a target of Rs 1155.
Rakesh Bansal of RK Global is of the view that one can buy Ashok Leyland with a target of Rs 100 and sell Allahabad Bank with a target of Rs 63.
Sameet Chavan of Angel Broking suggests buying Apollo Hospitals with target of Rs 1280 and Indiabulls Housing Finance with a target of Rs 1125.
Vishal Malkan of malkansview.com is of the view that one may buy Indian Bank with a target of Rs 330.
Jay Thakkar of Anand Rathi Securities advises buying Indo Count Industries with a target of Rs 204.90.
According to Jay Thakkar of Anand Rathi Securities, one may buy Mcleod Russel with a target of Rs 188.50.
Vishal Malkan of malkansview.com is of the view that one may sell Marico with a target of Rs 285.