The Indian stock market witnessed a strong pullback on Tuesday after declining by more than 4 per cent in the last two sessions.
The Indian stock market witnessed a strong pullback on Tuesday after declining by more than 4 per cent in the last two sessions. The broader Nifty50 swung 3.03% to close near 17,400, while the Sensex gained over 1700 points or 3.08% to end above 58,100 as tensions between Russia-Ukraine eased on Tuesday. The recovery in the domestic market was led by auto, banking, IT and FMCG.
Vijay Dhanotiya, Category Lead- HNI Products at CapitalVia Global Research Limited is of the view that while sustaining above 17200 would be the key factor from a short-term perspective, market research suggests, a decisive breakout above the zone of 17400-17450 could open the gate for a movement till 17800.
“We believe investors should utilize this increase in volatility to build positions in quality large-cap and mid-cap stocks as the earning expectations for Indian corporates remain strong,” Neeraj Chadawar, Head – Quantitative Equity Research, Axis Securities, had mentioned in post market commentary on Tuesday.
Asian shares rallied on Wednesday as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base from exercises, delivering investors a measure of relief.
Japan`s Nikkei soared 1.9% to rebound from two days of falls, while Australia`s S&P/ASX200 gained half a percent in the early trade. Hong Kong`s Hang Seng Index jumped 1.1% early in the session, and China`s CSI300 Index was up 0.4%.
Earlier on Tuesday, all major Wall Street indices ended in the green. Dow Jones settled with 1.22% gain, Nasdaq Composite closed 2.53% higher, S&P 500 was up 1.58% and Russell 2000 gained 2.76% in Tuesday’s closing.
Ahead of the market opening, Zee Business has identified a list of 20 stocks for investors. These stocks have been shortlisted keeping in mind short-term, positional and long-term objectives of investors. The shares have been handpicked by our analysts from cash, F&O and techno segments. Below is the list of stocks for profitable trade on Wednesday.
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Varun Dubey Stock Picks
Cash
Buy DFM Foods Target Rs 295 SL RS 280
Futures
Sell Tata Steel FUT Target Rs 1180 SL RS 1230
Options
Buy ICICI Bank 780 CE Target Rs 15 SL RS 10
Tech
Buy Bharat Dynamics Target Rs 485 SL RS 460
Funda
Buy Hi Tech Gears Target Rs 280 Duration 2 Months
Invest
Buy Bata India Target Rs 2200 Duration 4 to 6 Months
News
Buy CRISIL Target Rs 2825 SL RS 2680
My Choice
Buy AB Fashion Target Rs 290 SL RS 275
Buy Johnson Hitachi Target Rs 1930 SL RS 1840
Buy Escorts Target Rs 1900 SL RS 1810
Best Pick
Buy ICICI Bank 780 CE Target Rs 15 SL RS 10
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Kushal Gupta Stock Picks
Cash
Hatsun Agro – Buy – 1150, sl – 1104
FTR
ONGC FUT – Sell – 159, sl – 167
OPTN
Axis Bank 800 CE@ 10.8 – Buy – 18, sl – 7
Techno
PNB – Buy – 40, sl – 37.8
Funda
Laurus Labs – Buy – 700, Duration – 1 Year
Investment
Endurance Tech Buy 1700, Duration 1 Year
Stocks In News
Berger Paints Buy 745, Sl 712
My Choice
PVR Buy 1690, Sl 1620
Intellect Design Buy 700, Sl 667
Birla Corp Buy 1205, Sl 1160
Best Pick
ONGC FUT – Sell – 159, sl – 167
