Top buy and sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Mitessh Thakkar of mitesshthakkar.com recommends buying United Spirits with a stop loss of Rs 565 and a target of Rs 595 and Tata Steel with a stop loss of Rs 495 and a target of Rs 525.

The market snapped a three-day winning streak to close sharply lower on June 12 as traders turned cautious ahead of the factory and retail inflation data expected later in the day.


The BSE Sensex fell 193.65 points to 39,756.81, dragged by banking & financials and auto stocks. The Nifty 50 managed to close a tad above 11,900 after hitting an intraday low of 11,866.35, down 59.40 points to 11,906.20. The index formed a bearish candle resembling a Bearish Belt Hold pattern on the daily charts.

The market breadth was negative throughout the day - About 1,468 shares declined against 1,022 advancing shares on the BSE. The Nifty Midcap index lost 0.8 percent and Smallcap index fell 0.24 percent.

According to the Pivot charts, the key support level is placed at 11,860.83, followed by 11,815.47. If the index starts moving upward, key resistance levels to watch out are 11,957.03 and 12,007.87.

The Nifty Bank index closed at 30,965.70, down 299.75 points on June 12. The important Pivot level, which will act as crucial support for the index, is placed at 30,843.97, followed by 30,722.23. On the upside, key resistance levels are placed at 31,154.87, followed by 31,344.04.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Ashwani Gujral of ashwanigujral.com

Sell Tata Communications with a stop loss of Rs 500, the target of Rs 475

Sell Tech Mahindra with a stop loss of Rs 755, the target of Rs 730

Sell Biocon with a stop loss of Rs 262, the target of Rs 248

Buy Hindustan Unilever with a stop loss of Rs 1830, target of Rs 1875

Buy United Spirits with a stop loss of Rs 568, the target of Rs 590

Sudarshan Sukhani of s2analytics.com

Buy Tata Consultancy Services with stop-loss at Rs 2248 and target of Rs 2285

Buy Oil & Natural Gas Corporation with stop-loss at Rs 166 and target of Rs 173

Sell Apollo Tyres with stop-loss at Rs 194 and target of Rs 188

Sell Reliance Capital with stop-loss at Rs 89.5 and target of Rs 86

Sell Tata Communications with stop-loss at Rs 496 and target of Rs 485

Mitessh Thakkar of mitesshthakkar.com

Buy United Spirits with a stop loss of Rs 565 and a target of Rs 595

Buy Tata Steel with a stop loss of Rs 495 and a target of Rs 525

Sell Bosch with a stop loss of Rs 17200 and target of Rs 16350

Sell RBL Bank below Rs 654 with a stop loss of Rs 662 for the target of Rs 636

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com/CNBC-TV18 are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​

For taking 2 days free trial and Stock Market Tips with more than 90% accuracy click here MCX Tips

Comments

Post a Comment

Popular posts from this blog

Technical Classroom: How to use Fibonacci Retracement Levels in stock trading

Image
Fibonacci retracement is a method of technical analysis for determining support and resistance levels A Fibonacci retracement is a popular tool among technical traders and is based on some key numbers. The origins of the Fibonacci series can be traced back to the ancient Indian mathematic scripts, with some claims dating back to 200 BC. However – in the 12th century - Leonardo Pisano Bigollo, an Italian mathematician who was known to his friends as Fibonacci, discovered Fibonacci numbers. It is a popular tool that technical traders use to help identify price levels for transactions, stop losses or target prices. These retracement levels also provide support and resistance levels for a stock. However, it really becomes most effective when confirming signals or conditions identified by additional technical analysis tools. Fibonacci Retracement is a method of technical analysis for determining support and resistance levels. It is named after the use of the Fibonacci sequ...
Read more

Veto Switchgears jumps 5% on realisation of unsecured loan

Image
Veto Switchgears had given unsecured loan to its wholly owned overseas subsidiary Veto Overseas Private F.Z.E. Veto Switchgears and Cables shares rallied 4.8 percent intraday on June 14 after realization of unsecured loan from a subsidiary. "We realized an amount of $1 million against an unsecured loan on June 13," the wires & cables and electrical accessories manufacturer said in its filing. Veto Switchgears had given unsecured loan to its wholly owned overseas subsidiary Veto Overseas Private F.Z.E. The stock climbed 10 percent in the last 15 sessions. At 13:13 hours IST, it was quoting at Rs 66.75, up to Rs 1.10, or 1.68 percent on the BSE. G et a 2 days free trial in Stock Market Tips and MCX Tips  
Read more

Top buy and sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Image
Sudarshan Sukhani of s2analytics.com recommends buying Dabur India with stop-loss at Rs 381 and target of Rs 394, Ajanta Pharma with stop-loss at Rs 944 and target of Rs 973 and Hexaware Tech with stop-loss at Rs 410 and target of Rs 424. The market reversed most of its gains that were seen in the previous session and closed sharply lower on June 21. Escalated geopolitical tensions between the US and Iran and the RBI's concern over slowing economy dented traders' sentiment. Sensex fell 407.14 points or 1.03 percent to 39,194.49, while Nifty shed 107.70 points or 0.91 percent to 11,724.10, forming a bearish candle on the daily as well as weekly charts. For the week, indices declined 0.65 percent and 0.8 percent, respectively. The broader markets outperformed benchmark indices, with the Nifty Midcap and Smallcap indices closing flat with a negative bias. All sectoral indices closed in the red. According to the Pivot charts, the key support level is placed at...
Read more