The Indian markets declined nearly one per cent in volatile trade amid negative global cues on Tuesday.
The Indian markets declined nearly one per cent in volatile trade amid negative global cues on Tuesday. Broader Nifty50 slipped more than one per cent or 195 points to 18,113.05, while the S&P BSE Sensex shed 554.05 points or 0.90% to 60,754.86 in the closing on January 18. The fall was largely led by auto and IT shares.
“The correction might continue for some time now with minor profit booking seen with Budget nearing. Investors should take advantage of this fall to add quality counters on major dips,” said Rahul Sharma – co-owner, Equity 99.
He said for Nifty 50 Post today`s correction, 18090 will act as strong support. “If this level is breached, then we might see 18000 levels. On upper side, 18175 will act as major resistance, if this level is breached, we may see a rally to 18235 and 18300 levels too,” he added.
Asian markets were largely trading in negative on Wednesday morning. Japanese Nikkei 225 was down 1.8%, Shanghai Composite was trading flat with negative bias after slipping by 0.7%, while Hang Seng Index at the Hong Kong Exchange traded flat with positive bias as the index gained 0.10 per cent around 7.45 am on Wednesday.
Earlier on Tuesday, the US market indices tanked when it opened after long weekend as the Wall Street indices remained closed on Monday. Dow Jones slipped 1.51%, Nasdaq Composite tanked 2.60%, S&P 500 ended 1.84% lower and Russell 2000 slumped 3.06% on Tuesday.
Ahead of the market open on Wednesday, Zee Business research team has shortlisted 20 stocks from cash, F&O and techno space to help investors maximise their profit. These stocks have been identified keeping in mind intraday, positional and long-term objective of the investors. Below is the list:
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Kushal Gupta Stock Picks
Cash
TATA ELXSI – Buy – 6570, sl – 6300
FTR
Bandhan Bank – sell – 285, sl – 299
OPTN
ONGC 165 CE@2 – buy – 5, sl – 1
Techno
Indiamart Intermesh FUT – Sell – 6320, sl – 6580
Funda
Nazara Tech – Buy – 2440, sl – 2350
Invest
Hero Motocorp – Buy – 3500, Duration – 1 year
News
Bajaj Finserv – Buy – 18700, sl – 17970
Mychoice
L&T Tech FUT – Sell – 5258, sl – 5475
Biocon – Buy – 359, sl – 344
Bharti Airtel – Buy – 735, sl – 705
Best Pick
Hero Motocorp – Buy – 3500, Duration – 1 year
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Varun Dubey Stock Picks
Cash
Buy Oil India Target Rs 230 SL Rs 220
Futures
Buy Bajaj Finance Target Rs 8000 SL RS 7690
Options
Buy Tata Motors 510 CE Target Rs 16 SL RS 11
Tech
Sell Apollo Hospital FUT Target Rs 4500 SL RS 4670
Funda
Buy Delta Corp Tgt Rs 294 SL Rs 276
Invest
Buy Vesuvius India Target Rs 1400 Duration 4 to 6 Months
In News
Buy DCM Shriram Target Rs 1050 SL RS 995
My Choice
Buy Hi Tech gears Target Rs 299 SL RS 282
Buy Bf Utilities Target Rs 440 SL Rs 410
Sell Vedanta FUT Target Rs 315 SL Rs 326
Best pick
Buy Bajaj Finance FUT Target Rs 8000 SL RS 7690
