Mitessh Thakkar of miteshthacker.com is of the view that one can buy KPIT Technologies with a stop loss of Rs 260 and target of Rs 290 and Power Finance Corporation with a stop loss of Rs 74 and target of Rs 79 while one may sell RBL Bank with a stop loss of Rs 505 and target of Rs 477.
The Nifty corrected nearly two percent for the week-ended May 18 and slipped below its crucial support placed at 10,600, suggesting further pain in the coming session.
We feel that the same sentiment will translate onto the heavyweights within the index and that would bring down the Nifty50 as well in coming weeks, says Pushkaraj Sham Kanitkar, AVP - Technical Research at GEPL Capital.
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 escalating load of NPAs, bond yields and decline in credit growth rate are major issues faced by state run banks.
"With the ongoing structure on all the time frames, the stock has a more capacity to move ahead up to the level of Rs 3550-4018 while downside support comes at Rs 3100 level," says Sumeet Bagadia, Associate Director, Research at choiceindia.com.
"Improving growth outlook from large deal wins, digital share gains and potential recovery in US BFS will drives TCS’ earnings. We are recommending TCS with target price of Rs 3665," says Sumit Bilgaiyan, Founder of Equity99.
"We are bullish on Tata Consultancy Services and expect sunshine to return in this counter. We expect a 30 percent upside by FY19 end," says Akash Jain, Vice-president, Equity Research at Ajcon Global Services.
IndusInd Bank and TCS are on analysts’ radar today.
Most analysts expect TCS to report between 1.1 percent and 2.0 percent revenue growth in constant currency, sequentially, helped by some of its recent large deal wins including Marks & Spencer, and life insurance provider Transamerica.
"Traders can accumulate the stock in the range of Rs 3000-3015 for the target of Rs 3250 and a stop loss below Rs 2890," says Achin Goel, Head of Wealth Management and Financial Planning at Bonanza Portfolio Ltd.
"Increased interest in 10,200 Put suggests a positive shift in the Nifty range. However, a proximity to resistance levels may induce some small correction which we think would provide a buying opportunity in the near term," says Achin Goel, Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd.
Mid-tier companies are expected to report 2-3% constant currency revenue growth sequentially despite seasonal weakness
Ashwani Gujral of ashwanigujral.com recommends buying Balrampur Chini, Can Fin Homes, Tech Mahindra, Maruti Suzuki and Indiabulls Housing Finance.
“Nifty may continue to oscillate in the price band of 10,160 to 10,000, and may again see buying on dips around 10,000.” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management Ltd.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Kotak Mahindra Bank, Shriram Transport Finance, Tata Global Beverage, HDFC, TCS, L&T and ACC and can sell CESC and Cummins India.
Tata Sons, the holding company of the Tata Group is selling a small stake in its crown jewel Tata Consultancy Services (TCS). This will help Tata Sons raise around Rs 8,000 crore, which it can then use to invest in other group companies. In an interview with CNBC-TV18, Ravi Menon, Analyst-IT Services at Elara shared his views and outlook on the same.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy TCS, Hexaware, Interglobe Aviation, Jubilant Food, HUL and Tech Mahindra and can sell Tata Motors.
Ashwani Gujral of ashwanigujral.com recommends buying Tech Mahindra with a stop loss of Rs 614 and target of Rs 635 and has a buy also on Tata Consultancy Services with a stop loss of Rs 3000, target of Rs 3150.
"The association of Indian IT companies are expecting a strong growth in the fiscal year 2019 as most of the companies are able to adapt to the new age digital technologies and are also strengthening in the automation segments which could make the space as one of the strong sectors for the year 2018," JK Jain, Head of Equity Research at Karvy Stock Broking told Moneycontrol.
"The Nifty has formed 'Hammer' candlestick pattern indicating a short term reversal. Furthermore, on hourly scale, oscillators like RSI & MACD has given positive crossover which is a bullish sign," says Rajesh Agarwal of AUM Capital.
In the current week, selling pressure was intensified on the breach of lower band of the broader consolidation range of 10300.
Sudarshan Sukhani of s2analytics.com is of the view that one can short Bharti Airtel, Godfrey Phillips and HPCL and can buy Indraprastha Gas and Sun TV Network.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Voltas, Tata Consultancy Services, Sun Pharmaceutical Industries, NMDC, DLF, KPIT Technologies and Hexaware Tech and can short UltraTech Cement and Tata Motors.
Mitessh Thakkar of miteshthacker.com recommends buying Hexaware Technologies with a stop loss of Rs 346.50 and target of Rs 366 and advises selling Hindalco Industries around Rs 232-233 with stop loss of Rs 240 and target of Rs 220.