Stocks to buy today: Even as the Indian market extended weakness to second day on Thursday, the cues from SGX Nifty and global markets remained negative for the domestic market on Friday.
Even as the Indian market extended weakness to second day on Thursday, the cues from SGX Nifty and global markets remained negative for the domestic market on Friday.
“Nifty found resistance around 18100 leading to close in the red for the day. On the daily chart, a dark cloud cover pattern has formed suggesting waning bullishness. The trend for the few hours to 1 day may remain weak; however, the short-term trend remains positive as the Nifty closed above the falling trend line on the daily chart,” said Rupak De, Senior Technical Analyst at LKP Securities.
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On the lower end, support is visible at 17700, below which the short-term trend may become weak. On the higher end, resistance is visible at 17900/18100, he added.
Hinting at yet another weak start for the Indian market, SGX Nifty slipped around 100 points as the index traded below 17,800 in early trade on the Singaporean exchange on Friday.
Meanwhile, all major Asian markets were also seen trading lower on Friday. Japanese Nikkei 225 was trading lower by 1.2%, Hang Seng Index at the Hong Kong Exchange dropped 0.80% and Chinese Shanghai Composite declined around half per cent in early Friday trade.
The weakness trickled from the US market which slipped on Thursday to close in the red after FedEx withdrew guidance. The US market tumbled on Thursday, closing lower by 0.5-1.4%. Dow Jones closed near its two-month low after declining by 175 points, Nasdaq dropped almost 1.5% and S&P500 declined by over one per cent on Thursday.
Meanwhile, Zee Business brings you a list of 20 stocks from cash, techno, and F&O space. These stocks have been picked keeping in view investors’ short-to-long term requirements. The list also comprises intraday calls for good returns on a given day. Below is the list of stocks.
Varun Dubey Stock Picks
CASH
Buy Devyani Intl Target Rs 198 SL RS 186
FUTURES
Sell Vodafone Target Rs 9.4 SL Rs 9.9
OPTIONS
Buy ICICI Bank 920 CE Target Rs 25 SL RS 16
TECHNO
Buy Indian Hotels Target Rs 347 SL RS 328
FUNDA
Buy Tata Power Target Rs 255 SL RS 240
INVESTMENT
Buy Bajaj Electricals Target Rs 1500 Duration 3 Months
NEWS
Buy Godawari Power Target Rs 305 SL RS 288
MY CHOICE
Sell Vedanta FUT Target Rs 305 SL RS 319
Sell Laurus Labs FUT Target Rs 515 SL RS 540
Buy Berger Paints Target Rs 680 SL RS 645
BEST PICKS
Sell Vedanta FUT Target Rs 305 SL RS 319
Kushal Gupta Stock Picks
CASH
Trigyn Technologies – Buy – 113, SL – 107
FUTURES
Hindalco FUT – Sell – 410, SL – 432
OPTIONS
HDFC Bank 1520 PE@25 – Buy – 37,SL- 18
TECHNO
Mahanagar Gas – Buy – 927, SL – 890
FUNDA
Schaeffler India – Buy – 4100, Duration – 12 Months
INVESTMENT
Orient Electric Buy 330, Duration 4 Months
NEWS
Interglobe Aviation – Buy – 1970, SL- 1885
MY CHOICE
CG Power – Buy – 243, sl – 233
Tata Motors FUT Sell 435, Sl 454
Godrej Prop FUT Sell 1345, Sl 1400
BEST PICKS
Schaeffler India – Buy – 4100, Duration – 1 year
