Sectorally, buying was seen in metals, healthcare, banks, and public sector while some selling was seen in telecom stocks.
Tracking the momentum, experts see Nifty50 inching towards 18000 levels in the next few sessions. “We believe further buying will enable the indices to come out of this consolidation range and can take the indices towards crucial levels of 18000,” Mohit Nigam, Head – PMS, Hem Securities, said.
“On the technical front, the key resistance level for Nifty50 is 17850 followed by 17900 and on the downside 17700 followed by 17650 can act as strong support. Key resistance and support levels for bank nifty are 40400 and 39850 respectively,” he said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd told ETBureau
SBI: Buy| Target Rs 560| Stop Loss Rs 535
The stock witnessed a breakout from the resistance zone with incremental volume which suggests a further up move in the near term.
IOC: Buy| Target Rs 75| Stop Loss Rs 71
The stock is trading in an ascending triangle chart and reversed from its trend line support with rising volumes.
UltraTech Cement: Buy| Target Rs 7130| Stop Loss Rs 6810
The stock witnessed a breakout from the Ascending Triangle chart pattern that specifies a new leg of upside from the current levels.
Bajaj Finance: Buy| Target Rs 7480| Stop Loss Rs 7150
The stock recorded a breakout of the sloping trend line with decent volume activity, indicating at bullish momentum.
Expert: Kunal Bothra, Market Expert told ETNow
Axis Bank: Buy| Target Rs 820| Stop Loss Rs 760
IDFC First Bank: Buy| Target Rs 57| Stop Loss Rs 48
Inox Wind: Buy| Target Rs 150| Stop Loss Rs 130
Expert: Nooresh Merani, an independent technical analyst told ETNow
SBI: Buy| Target Rs 590| Stop Loss Rs 538
HDFC Bank: Buy| Target Rs 1600| Stop Loss Rs 1475
Nesco: Buy| Target Rs 700| Stop Loss Rs 580
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)