Stock Tips Services-Capitalways Investment Adviser: nifty future tips

Showing posts with label nifty future tips. Show all posts

Mitessh Thakkar of mitesshthakkar.com suggests selling Aurobindo Pharma with a stop loss of Rs 731 for target of Rs 696 and Bank of Baroda with a stop loss of Rs 101 and target of Rs 93.

The Nifty after sharp gap down opening continued to trade lower throughout the session on Thursday, the last day of October series. Global cues and correction in index heavyweights Reliance Industries and HDFC twins weighed down the market.

The index hit fresh seven-month low during the day but managed to show some recovery in later part of the session to close above 10,100 levels. It made small bodied bearish candle on the daily charts, which resembles a ‘Doji’ kind of pattern.

Experts feel the market behaviour indicated that it may be bottoming out for the time being. Hence, the pull back rally could be possible in coming sessions, which could be short lived, they said.

According to Pivot charts, the key support level is placed at 10,080.6, followed by 10,036.3. If the index starts moving upwards, key resistance levels to watch out are 10,167.9 and then 10,210.9.

The Nifty Bank index closed at 24,817.4. The important Pivot level, which will act as crucial support for the index, is placed at 24,683.7, followed by 24,550.0.

On the upside, key resistance levels are placed at 24,964.2, followed by 25,111.0.

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

Buy Adani Enterprises with a stop loss of Rs 168, target of Rs 180

Buy United Spirits with a stop loss of Rs 530, target of Rs 555

Buy Berger Paints with a stop loss of Rs 285, target of Rs 310

Sell Indiabulls Housing Finance with a stop loss of Rs 695, target of Rs 675

Sell State Bank of India with a stop loss of Rs 255, target of Rs 240

Mitessh Thakkar of mitesshthakkar.com

Sell Aurobindo Pharma with a stop loss of Rs 731 for target of Rs 696

Sell Bank of Baroda with a stop loss of Rs 101 and target of Rs 93

Buy Oriental Bank of Commerce above Rs 67.5 with stop loss of Rs 65.5 for target of Rs 72

Buy Coal India with a stop loss of Rs 277 and target of Rs 293

Prakash Gaba of prakashgaba.com

Buy Bajaj Finserv with target at Rs 5650 and stop loss at Rs 5290

Buy Coal India with target at Rs 290 and stop loss at Rs 270

Sell Jubilant Foodworks with target at Rs 1000 and stop loss at Rs 1125

Sell Sun TV Network with target at Rs 590 and stop loss at Rs 630

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

Sudarshan Sukhani of s2analytics.com suggests buying Colgate Palmolive with stop loss of Rs 1120 and target of Rs 1135, Glenmark Pharma with stop loss at Rs 606 and target of Rs 636 and Havells India with stop loss at Rs 585 and target of Rs 630.

Global concerns and rupee volatility dragged the market near seven-month low on October 23. After a sharp gap down opening the Nifty 50 traded lower throughout the session and closed near its starting point of the day.

The index made a small bullish candle and formed 'Long Legged Doji' pattern on the daily candlestick charts.

The Nifty50 after the gap down opening traded range bound and extended losses in the second half of the session to hit an intraday low of 10,102.35. The index managed to recover some losses in late trade but still closed 98.50 points lower at 10,146.80.

India VIX fell sharply by 10.87 percent at 19.03. During the session volatility index made a high of 22.35 and witnessed a cool off even after the overall weakness in the Nifty index which suggests an early sign of consolidation in the market. However, VIX has to go down below 17-16 zones to rescue the bulls after the sharp cut of last two months.

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

Buy Chennai Petro with a stop loss of Rs 260, target of Rs 274

Buy Kotak Mahindra Bank with a stop loss of Rs 1160, target of Rs 1200

Buy Jet Airways with a stop loss of Rs 208, target of Rs 230

Buy TVS Motor with a stop loss of Rs 530, target of Rs 545

Buy HPCL with a stop loss of Rs 212, target of Rs 228

Sudarshan Sukhani of s2analytics.com

Buy Colgate Palmolive with stop loss of Rs 1120 and target of Rs 1135

Buy Glenmark Pharma with stop loss at Rs 606 and target of Rs 636

Buy Havells India with stop loss at Rs 585 and target of Rs 630

Sell Bharti Infratel with stop loss at Rs 270 and target of Rs 255

Sell Raymond with stop loss at Rs 635 and target of Rs 600

Mitessh Thakkar of mitesshthakkar.com

Buy Bharat Electronics with a stop loss of Rs 85 and target of Rs 92

Buy Jet Airways with a stop loss below Rs 209 and target of Rs 221

Sell Divis Lab below Rs 1239 with stop loss of Rs 1254 and target of Rs 1205

Buy Power Finance Corporation with a stop loss of Rs 80.2 and target of Rs 85

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

In the IT space, Infosys was up 2.31 percent at USD 9.74 and Wipro jumped 2.02 at USD 5.05 while in the banking space, ICICI Bank was up 1.69 percent at USD 8.43 and HDFC Bank spiked 3.85 percent at USD 89.49.

Indian ADRs ended higher on Friday. In the IT space, Infosys was up 2.31 percent at USD 9.74 and Wipro jumped 2.02 at USD 5.05.

In the banking space, ICICI Bank was up 1.69 percent at USD 8.43 and HDFC Bank spiked 3.85 percent at USD 89.49.

In the other sectors, Tata Motors jumped 2.4 percent at USD 12.37 and Dr Reddy's Laboratories added 1.78 percent at USD 33.17.

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

Mitessh Thakkar of mitesshthakkar.com suggests buying United Spirits around Rs 490 with stop loss of Rs 480 and target of Rs 513 and Radico Khaitan with a stop loss of Rs 320 and target of Rs 348.

The Nifty50 opened with big gap down at 10,169.80 followed by a bit of recovery from day's low of 10,138.60 in later part of the session. The index still closed 225.40 points lower at 10,234.70, the lowest closing level since April 4, 2018.

Experts expect the most selling pressure could be possible if the index breaks Thursday's low of 10,138 in coming sessions.

India VIX moved up sharply by 14.68 percent to 20.53 levels. Spurt in VIX from previous day's low suggests that bears are not loosening their grip and bounce are being sold in the market. Now VIX has to cool down below 17.50-17 zones to get any sign of consolidation, experts said.

According to Pivot charts, the key support level is placed at 10,136.87, followed by 10,039.03. If the index starts moving upwards, key resistance levels to watch out are 10,334.27 and 10,433.83.

ex, is placed at 24,538.37, followed by 24,292.83. On the upside, key resistance levels are placed at 24,984.77, followed by 25,185.63.

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

Buy Hindustan Unilever with a stop loss of Rs 1500, target of Rs 1620

Buy GAIL India with a stop loss of Rs 345, target of Rs 370

Buy Bharat Electronics with a stop loss of Rs 80, target of Rs 91

Buy Kotak Mahindra Bank with a stop loss of Rs 1100, target of Rs 1135

Buy Axis Bank with a stop loss of Rs 570, target of Rs 605

Mitessh Thakkar of mitesshthakkar.com

Buy United Spirits around Rs 490 with stop loss of Rs 480 and target of Rs 513

Sell Ramco Cements with a stop loss of Rs 592 and target of Rs 555

Sell Tata Steel with a stop loss of Rs 567 and target of Rs 532

Buy Radico Khaitan with a stop loss of Rs 320 and target of Rs 348

Buy Colgate Palmolive with target at Rs 1125 and stop loss at Rs 1085

Buy United Spirits with target at Rs 525 and stop loss at Rs 480

Sell Cipla with target at Rs 600 and stop loss at Rs 630

Sell NIIT Tech with target at Rs 1000 and stop loss at Rs 1100

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

We expect the ongoing correction to mature in the coming 1-2 weeks around the major support area of 10,200.

ICICI Direct.com Research

The equity benchmarks witnessed a sharp rebound on Wednesday after tumbling to their lowest weekly closing level in the last six months as relentless selling pressure across the board saw the index testing 10,200 levels earlier during the week.

We expect the index to continue with the current pullback and test last Friday’s bearish gap area around 10,600 levels in the coming sessions.

The index has seen a sharp decline of more than 13 percent in the last five weeks which has led to an extreme oversold reading around 10 on the weekly stochastic. Hence, a pullback from the oversold territory seen on Wednesday’s session was on the expected lines.

ove Friday’s bearish gap area (10600) and also form a higher high-low for more than two consecutive sessions as it has not extended a pullback for more than two trading sessions during the current corrective phase since August 2018 high of 11760.

Time wise, since the beginning of CY18, each directional leg in the Nifty has lasted for seven to eight weeks. In the present scenario, the index has maintained the rhythm by correcting for the fifth successive week.

We expect the ongoing correction to mature in the coming 1-2 weeks around the major support area of 10,200. The volatility is likely to remain high ahead of Q2FY19 earning season and macro data like IIP, CPI, going ahead.

As both time-wise and price-wise, the index is approaching maturity so we suggest to utilise the current decline to accumulate quality stocks in a staggered manner in the coming weeks.

The index has major support around 10200 levels as it is the confluence of the following technical observation:

a) Trendline support joining the lows of September 2017 (9688) and March 2018 (9952) placed at 10250 levels

b) The 38.2% retracement of the entire rally from December 2016 to August 2018 (7894-11760) placed at 10280 levels.

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

Expects these players to benefit the most from transition to organised segment.

Jefferies is betting on Indian pipes industry citing a gradual shift to organised players. It expects players such as Astral Poly, Supreme Industries and Finolex Industries to benefit the most from this transition.

Along with it, companies are also diversifying their products to enhance profitability, the global research firm observed. Based on these reasons, it has initiated coverage on these stocks with a buy call.

Moreover, the recent market crash is a good opportunity for entering such quality names.

“While mid and smallcap indices corrected by 15-20% month-on-month, Astral, Finolex and Supreme Industries declined 25%, 13% and 16%, respectively. This has left them within 5-10% of their five-year average and 30-40% lower than YTD peaks.

The key trigger is diversification into value-added sales streams (adhesives, packaging, consumer products, CPVC pipes etc.) which command premium valuations over pure-play PVC pipes, analysts at the firm wrote in their report.

Additionally, superior growth prospects with financial discipline (high return ratios, and robust free cash flow, among others) should support multiples, they further wrote.

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

Mitessh Thakkar of mitesshthakkar.com is of the view that one can sell Container Corporation of India with a stop loss of Rs 613 and target of Rs 573 and buy Aurobindo Pharma with a stop loss of Rs 722 and target of Rs 760.

The Nifty ended the volatile session in green with gains of 31 points on Monday making a ‘Hammer’ like pattern on the daily charts. The Nifty closed in green after shedding around 600 points in the last 4 sessions.

The Nifty bounced back from its crucial support placed at 10,200 levels. It reclaimed 10,300 levels on closing basis and now as long as it holds above this level, the bounce should take the Nifty towards 10,420, and 10,500 levels, suggest experts.

India VIX moved up by 2.12 percent at 20.15 levels but it slipped from its intraday swing high of 21.77 levels. Overall, higher volatility suggests a bear grip but a cool off in VIX with a topping out formation could form a short-term bottom in the market.

Technically, the crucial resistance is now placed at 10,500-11,000 levels and pullback towards the said level might face extensive selling pressure, suggest experts.

According to Pivot charts, the key support level is placed at 10,231.5, followed by 10,115.0. If the index starts moving upwards, key resistance levels to watch out are 10,431.4 and 10,514.8.

The Nifty Bank index closed at 24,618.3. The important Pivot level, which will act as crucial support for the index, is placed at 24,323.8, followed by 24,029.3.

On the upside, key resistance levels are placed at 24,829, followed by 25,039.7.

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

Buy JSW Steel with a stop loss of Rs 372, target of Rs 390

Buy Titan Company with a stop loss of Rs 808, target of Rs 830

Buy Bajaj Auto with a stop loss of Rs 2550, target of Rs 2630

Sell Manappuram Finance with a stop loss of Rs 70, target of Rs 62

Sell BEML with a stop loss of Rs 581, target of Rs 560

Sudarshan Sukhani of s2analytics.com

Buy ACC with stop loss at Rs 1450 and target of Rs 1500

Buy Apollo Hospitals with stop loss at Rs 1060 and target of Rs 1105

Buy Hindustan Unilever with stop loss at Rs 1535 and target of Rs 1575

Buy Titan Company with stop loss at Rs 785 and target of Rs 840

Sell Hindalco Industries with stop loss at Rs 230 and target of Rs 212

Mitessh Thakkar of mitesshthakkar.com

Sell Container Corporation of India with a stop loss of Rs 613 and target of Rs 573

Buy Aurobindo Pharma with a stop loss of Rs 722 and target of Rs 760

Sell PAGE Industries with a stop loss of Rs 29600 and target of Rs 27800

Buy Sun Pharma around Rs 595 with stop loss of Rs 584 and target of Rs 620

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

Sudarshan Sukhani of s2analytics.com recommends selling Can Fin Homes with stop loss at Rs 240 and target of Rs 218, Cummins India with stop loss at Rs 665 and target of Rs 635 and Sun TV with stop loss at Rs 625 and target of Rs 575.

The market continued to see relentless selling pressure between October 1 and 5, with the Nifty falling 5.6 percent to close a tad above 10,300 levels. The surprise move on rates by Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC), the consistent fall in the rupee and crude volatility attributed to the selling pressure.

The Nifty 50 closed at a six-month low on October 5, making a large bearish candle on the daily as well as weekly charts.

Experts said the sharp fall in the last few sessions indicated that there could be a relief rally in the coming week, but if it corrects further it could break the psychological 10,000 level as well.

After opening lower at 10,514.10, the Nifty 50 gradually extended losses as the day progressed to fall below 10,300 and hit an intraday low of 10,261.90 in late trade. The index closed 282.80 points down at 10,316.50.

India VIX moved up by 4.32 percent to 19.73 levels. Volatility is not cooling down which is not giving the relief to bulls and suggests a tight bear grip in the market, experts said.

According to Pivot charts, the key support level is placed at 10,205.37, followed by 10,094.23. If the index starts moving upwards, key resistance levels to watch out are 10,484.17 and 10,651.83.

The Nifty Bank index closed at 24,443.45, down 375.85 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 24,102.66, followed by 23,761.93. On the upside, key resistance levels are placed at 24,932.16, followed by 25,420.93.

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

Buy Infosys with a stop loss of Rs 720, target of Rs 745

Buy Tata Consultancy Services with a stop loss of Rs 2080, target of Rs 2200

Sell Dewan Housing Finance with a stop loss of Rs 281, target of Rs 265

Sell L&T Finance Holdings with a stop loss of Rs 124, target of Rs 112

Sell Indian Bank with a stop loss of Rs 234, target of Rs 220

Sell Can Fin Homes with stop loss at Rs 240 and target of Rs 218

Sell Cummins India with stop loss at Rs 665 and target of Rs 635

Sell Sun TV with stop loss at Rs 625 and target of Rs 575

Buy HCL Tech with stop loss at Rs 1070 and target of Rs 1100

Buy Sun Pharma with stop loss at Rs 590 and target of Rs 620

Mitessh Thakkar of mitesshthakkar.com

Sell Bajaj Auto around Rs 2560 - 2570 with stop loss of Rs 2616 and target of Rs 2460

Sell Balkrishna Industries with a stop loss of Rs 1020 and target of Rs 970

Buy Bata India with a stop loss of Rs 844 and target of Rs 890

Sell Chennai Petroleum Corporation around Rs 260 with stop loss of Rs 268.5 and target of Rs 243

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

We continue to prefer consumers post correction along with retail-focused private banks and bottom-up mid-cap picks, Gaurav Dua, Head of Research, Sharekhan by BNP Paribas, said in an interview to Moneycontrol’s Kshitij Anand.

Q) Sensex plunged by nearly 2000 points in just 4 trading sessions in the week gone by. As a house view, what are you advising your clients?

A) The RBI policy remained the key event with the MPC surprising with no rate hike and the talk on tightening capital adequacy rules which kept markets under selling pressure especially financials.

We reiterate our cautious view on the market and we feel that rising oil prices will be a concern. Also, the ongoing trade wars between the US and China will continue to keep investors on the edge.

However, amidst this turmoil, we feel there are select buying opportunities in sectors such as IT and Pharma. We like stocks such as HCL Tech from the IT space and Sun Pharma. A weaker rupee will help aid margins for these companies in the coming months.

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

https://www.capitalways.com/

Sudarshan Sukhani of s2analytics.com suggests buying Divis Labs with stop loss at Rs 1290 and target of Rs 1350 and JSW Steel with stop loss at Rs 375 and target of Rs 392.

The market fell sharply on Wednesday as traders turned cautious ahead of Monetary Policy Committee's rate decision due on Friday after rupee hitting record lows and crude touching multi-ear highs.

The Nifty50 after gap down opening extended losses as the day progressed and broke the 10,900 levels in last hour of trade. The index closed 150 points lower at 10,858.30 and formed strong bearish candle on the daily charts. If it doesn't stabilise around its 200-day EMA of 10,785 levels then more selling pressure is likely, experts said.

India VIX moved up by 8.16 percent at 18.21 levels. Volatility is not cooling down which is not giving the relief and suggests a tight bear grip in the market.

According to Pivot charts, the key support level is placed at 10,805, followed by 10,751.8. If the index starts moving upwards, key resistance levels to watch out are 10,950.2 and 11,042.2.

The Nifty Bank index closed at 25,069.90, down 297.10 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 24,907.43, followed by 24,744.97. On the upside, key resistance levels are placed at 25,351.23, followed by 25,632.56.

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

Sell United Spirits with a stop loss of Rs 507, target of Rs 490

Sell Century Textiles & Industries with a stop loss of Rs 811, target of Rs 785

Sell Arvind with a stop loss of Rs 321, target of Rs 305

Sell Jubilant Foodworks with stop loss of Rs 1205, target of Rs 1165

Buy Hindalco Industries with a stop loss of Rs 249, target of Rs 263

Sudarshan Sukhani of s2analytics.com

Buy Divis Labs with stop loss at Rs 1290 and target of Rs 1350

Buy JSW Steel with stop loss at Rs 375 and target of Rs 392

Sell Century Textiles with stop loss at Rs 825 and target of Rs 775

Sell ICICI Prudential Life Insurance with stop loss at Rs 337 and target of Rs 317

Sell L&T Finance Holdings with stop loss at Rs 130 and target of Rs 123

Mitessh Thakkar of mitesshthakkar.com

Sell ACC with a stop loss of Rs 1526 and target of Rs 1475

Sell Reliance Industries with a stop loss of Rs 1212.5 and target of Rs 1189

Sell Ambuja Cements with a stop loss of Rs 218.5 and target of Rs 203

Sell Century Textiles with a stop loss of Rs 820 and target of Rs 775

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

Mitessh Thakkar of mitesshthakkar.com suggests selling Coal India with a stop loss of Rs 271 and target of Rs 255 and advises buying Havells India around Rs 585, with stop loss of Rs 572 for target of Rs 612.

The market continued its southward journey for third consecutive day on Friday and closed in the red for eight out of last nine sessions. The Nifty50 attempted positive opening again but failed to hold the upside and remained lower for major part of the session on last trading day of September month, dragged by metals, IT and auto stocks.

The index closed far below 11,000 levels, forming bearish candle on the daily charts.

In fact, the month of September was like a nightmare for the market as the Nifty lost 6.4 percent,forming a long bearish candle which resembles a Bearish Engulfing pattern on the monthly charts. IL&FS-led liquidity fears in NBFC segment, rising crude oil prices and rupee volatility caused selling pressure in the market.

The Nifty50 managed to open higher above psychological 11,000 levels but wiped out all gains in first few minutes of trade. The index managed to rebound and hit an intraday high of 11,034.10 but that recovery again sold into and it a day's low of 10,850.30, which is the crucial support for next week, experts said.

The index finally closed 47 points lower at 10,930.50.

India VIX moved down by 1.24 percent to 16.71 levels. It has spiked by 9.36 percent in this week while up by 35 percent in this month. Rising volatility suggests that bears are holding the tight grip on the market, experts said, adding option band signifies a wider trading range in between 10,800 to 11,171 zones.

According to Pivot charts, the key support level is placed at 10,842.5, followed by 10,754.5. If the index starts moving upwards, key resistance levels to watch out are 11,026.3 and 11,122.1.

The Nifty Bank index closed at 25,119.85, up 77.70 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 24,907.77, followed by 24,695.73. On the upside, key resistance levels are placed at 25,343.27, followed by 25,566.73.

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

Ashwani Gujral of ashwanigujral.com

Buy Wipro with a stop loss of Rs 319, target of Rs 334

Buy HDFC Bank with a stop loss of Rs 1980, target of Rs 2060

Buy Reliance Industries with a stop loss of Rs 1245, target of Rs 1275

Sell Tata Steel with a stop loss of Rs 590, target of Rs 565

Sell Hind Petroleum Corporation with a stop loss of Rs 255, target of Rs 242

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Sudarshan Sukhani of s2analytics.com

Buy Tata Consultancy Services with stop loss at Rs 2150 and target of Rs 2240

Buy Aurobindo Pharma with stop loss at Rs 725 and target of Rs 775

Sell Adani Ports with stop loss at Rs 335 and target of Rs 315

Sell Canara Bank with stop loss at Rs 225 and target of Rs 210

Mitessh Thakkar of mitesshthakkar.com

Sell Coal India with a stop loss of Rs 271 and target of Rs 255

Buy Havells India around Rs 585, with stop loss of Rs 572 for target of Rs 612

Sell Kaveri Seed Company with a stop loss of Rs 590.5 and target of Rs 555

Sell Steel Authority of India below Rs 67.5 with stop loss of Rs 69.25 for target of Rs 64

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANDARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

We are of the firm view that market is in an intermediate downtrend and top for the year is in placeat recent highs of 11,760 levels, says Mazhar Mohammad.

If Nifty closes above 11,17o, the next resistance level stands at 11,350 levels and if there are signs of weakness around these levels, one can initiate fresh shorts with a target placed between 10,700– 600 kind of levels, Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in, said in an interview with Moneycontrol’s Kshitij Anand.

At this juncture after taking a hit of around 8 percent from the highs of 11,760 with 4-weeks of continuous fall, we should expect some pullback rather than looking to go short at current levels.

Even Friday’s price action is suggesting that the market is finding some buying interest around recent swing low of 10,866 levels.

Why we say that because market witnessed a decent recovery without undergoing panic even after it breached the recent low of 10866 levels which is usually considered as a bearish sign. The index hit an intraday low of 10,850 on Friday.

However, we need to see to what extent and with what strength market registers this pullback in the coming week. Bulls should be able to regain control if Nifty50 manage to close above 11,170 levels.

If the index closes above 11,17o then the next resistance level stands at 11,350 levels. On signs of weakness around these levels, one can initiate fresh shorts with a target placed between 10,700–600 kind of levels.

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

Mitessh Thakkar of mitesshthakkar.com suggests buying Reliance Industries with a stop loss of Rs 1239 and target of Rs 1282 and Bata India with a stop loss of Rs 974 and target of Rs 1000 while he advises selling CESC with a stop loss of Rs 891 and target of Rs 840.

The Nifty50 repeated its previous day's trading pattern on Thursday, the expiry day of September futures & options contracts. The index opened sharply higher but after positive trade in the initial period, it extended losses as the day progressed and closed below psychological 11,000 levels. The index formed a bearish candle again on the daily charts.

The Nifty50 opened higher at 11,079.80 and closed sharply lower at 10,977.55. The index managed to rise up to 11,089.45, the intraday high, in first half of an hour of trade but suddenly wiped out those gains and remained weak for rest of the session to hit day's low of 10,953.35. It closed 76.30 points lower at 10,977.50.

According to Pivot charts, the key support level is placed at 10,924.03, followed by 10,870.57. If the index starts moving upwards, key resistance levels to watch out are 11,060.23 and 11,142.97.

The Nifty Bank index closed at 25,042.15, down 334.15 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 24,882.03, followed by 24,721.87. On the upside, key resistance levels are placed at 25,327.43, followed by 25,612.67.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns: Ashwani Gujral of ashwanigujral.com

Buy Tata Consultancy Services with a stop loss of Rs 2160, target of Rs 2230

Buy Hindustan Unilever with a stop loss of Rs 1600, target of Rs 1655

Sell Reliance Infra with a stop loss of Rs 308, target of Rs 293

Sell Balkrishna Industries with a stop loss of Rs 1060, target of Rs 1000

Sell L&T Finance Holdings with a stop loss of Rs 128, target of Rs 120

Prakash Gaba of prakashgaba.com

Buy Adani Enterprises with target at Rs 150 and stop loss at Rs 138

Buy Bata India with target at Rs 1010 and stop loss at Rs 970

Sell Vodafone Idea with target at Rs 30 and stop loss at Rs 40

Sell Reliance Power with target at Rs 20 and stop loss at Rs 27

Mitessh Thakkar of mitesshthakkar.com

Buy Reliance Industries with a stop loss of Rs 1239 and target of Rs 1282

Buy Bata India with a stop loss of Rs 974 and target of Rs 1000

Sell CESC with a stop loss of Rs 891 and target of Rs 840

Sell Jain Irrigation Systems around Rs 73 with stop loss of Rs 75.5 for target of Rs 66

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

Rajesh Agarwal of AUM Capital recommends buying Gujarat Alkalies with stop loss at Rs 598 and target of Rs 638 and Exide Industries with stop loss at Rs 265 and target of Rs 285.

The Nifty 50 closed a rangebound session mildly lower on September 26 as traders turned cautious ahead of Federal Reserve's interest rate decision tonight and expiry of September futures & options contracts on Thursday. The index failed to extend previous day's gains.

After a gap-up opening, the Nifty slipped into the red and remained rangebound with a negative bias for rest of the session. The index closed marginally in the red, forming bearish candle on the daily charts.

The sectoral trend was mixed with Nifty FMCG (down 1.5 percent), IT (1.9 percent) and PSU Bank (1.9 percent) indices falling the most and the Nifty Midcap index outperforming benchmark indices, rising third of a percent.

The Nifty50 opened sharply higher at 11,145.55, which was also an intraday high, but slipped below 11,000 to hit the day's low of 10,993.05. It managed to recover some losses in late trade to close 13.70 points lower at 11,053.80.

According to Pivot charts, the key support level is placed at 10,982.7, followed by 10,911.6. If the index starts moving upwards, key resistance levels to watch out are 11,135.2 and 11,216.6.

The Nifty Bank index closed at 25,376.30, up 45.95 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 25,207.37, followed by 25,038.44. On the upside, key resistance levels are placed at 25,535.17, followed by 25,694.03.

Here are the top stock trading ideas which can give good returns in the near term:

Rupak De of Bonanza Portfolio

Buy ACC with target at Rs 1661 and stop loss at Rs 1534

Buy Exide Industries with target at Rs 295 and stop loss at Rs 264

Buy Bharat Electronics with target at Rs 95 and stop loss at Rs 79.40

Rajesh Agarwal of AUM Capital

Buy Gujarat Alkalies with stop loss at Rs 598 and target of Rs 638

Buy Exide Industries with stop loss at Rs 265 and target of Rs 285

Buy Astra Microwave with stop loss at Rs 88 and target of Rs 98

Buy IndusInd Bank with stop loss at Rs 1678 and target of Rs 1732

Buy Havells India with stop loss at Rs 634 and target of Rs 664

Capital Ways Investment Adviser

101-202 SURYODAY BUILDING

2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001

info@capitalways.com

https://www.capitalways.com/

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