Volatility was lower from Monday’s closing as India VIX was at 10.70, down 2.14%.
“While the push past 19,500 failed to attract upside momentum on Thursday, the slippages held above 19,380, restraining the downside momentum as well. And, despite all this volatility, the close back above 19,420, identified yesterday as the key pivot, tilts the bias in favour of upsides,” Anand James, Chief Market Strategist at Geojit Financial Services said.
His advice to investors is to look to play upsides with trades above 19,460, but expect liquidation pressure to remerge on the approach to 19,550. “We would also be prepared to play the 19,230-125-19,085 move, should there be difficulty to float above 19,460, but would seek confirmation from a break below 19,360, given VIX’s slippage past 11,” he added.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities told ETBureau
Jindal Steel & Power: Buy | Target: Rs 660 | Stop Loss: Rs 625 | Last Close: Rs 637LTIMindtree: Buy | Target: Rs 5050 | Stop Loss: Rs 4810 | Last Close: Rs 4885
Bajaj Finserv: Buy | Target: Rs 1,670 | Stop Loss: Rs 1,590 | Last Close: Rs 1,619
Godrej Properties: Buy | Target:Rs 1,680 | Stop Loss: Rs 1,605 | Last Close: Rs 1,630
Expert: Kunal Bothra, Market Expert told ETNow
ICICI Bank: Buy | Target Rs 1,000 | Stop Loss Rs 940
Bectors Foods: Buy | Target Rs 900 | Stop Loss Rs 810
IPCA Lab: Buy | Target Rs 800 | Stop Loss Rs 754
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
