The post-RBI policy rally failed to offset the fall that has come on the back of rising interest rates in the US and fears of rising inflation and crude oil prices hitting more than seven-year highs. Due to this, the Nifty closed at 17,375 with a fall of 0.8 per cent in the week ended February 11. Weakness was seen in all sectors except metal last week. Along with the giants, small and medium stocks were also seen under pressure. Nifty Mid Cap and Small Cap had lost more than 2 per cent.
Sameet Chavan of Angel Broking It says that as long as there is uncertainty in the global market, the domestic markets will also remain volatile and there will be pressure on the upper levels. Important support is seen for Nifty at 17,000. Its supporting trendline is also supported. As long as Nifty manages to hold on to 17,000, then there is every possibility of it going up. On the upside, supply seems to be coming at 17,650. If Nifty rises above this level with strong strength, then 18,000 level can be seen in the near future.
Nifty has been circling in the range of 17000 to 17600-17700 for the past few weeks. Important support is seen for Nifty at 17000 while 17800 remains a hurdle for it. Market experts say that if there is a breakout or breakdown on either side of this range, the direction of the market will be clear. Until this happens, the market will see volatility.
Unless there is a definite break out, the market can be seen trading in a range. In such a situation, we should focus on selected stocks only. Going forward, the market will keep an eye on the global cues, along with this, strong leadership from the important sectors will be seen accelerating the domestic market.
Here we are telling you 10 such stocks recommended by market veterans, in which double digit earnings can be done in the next 3-4 weeks.
Picks of Anuj Gupta of IIFL Securities
Tata Power: Buy | LTP: Rs 232.30| Buying advice is on Tata Power with a stop loss of Rs 190 and target of Rs 300. This stock can give a return of 29 per cent in 2-3 weeks.
Balrampur Chini Mills: Buy | LTP: Rs 232.30 | Buying advice is given in Balram Pur Chini with a stop loss of Rs 390 and target of Rs 500. This stock can give a return of 17 per cent in 2-3 weeks.
Divis Labs: Buy | LTP: Rs 4,291.25 | Divis Labs will have buy advice with a stop loss of Rs 4,100 and target of Rs 4,600. This stock can give 7 percent return in 2-3 weeks.
Bank of Baroda: Buy | LTP: Rs 113.55 | Buying advice in Bank of Baroda with a stop loss of Rs 89 and target of Rs 150. This stock can give a return of 32 per cent in 2-3 weeks.
Investment Advice by Subhash Gangadharan of HDFC Securities
Coal India: Buy | LTP: Rs 166.50 | Buying advice in this stock with a stop loss of Rs 158 and target of Rs 188 would be a buy call. This stock can see a return of 13% in 3-4 weeks.
Pidilite Industries: Sell | LTP: Rs 2,432.25 | Selling advice in this stock with a stop loss of Rs 2,500 and target of Rs 2,290 would be a selling point. This stock can see a return of 6 percent in 3-4 weeks.
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Havells India: Sell | LTP: Rs 1,174.75 | Selling advice in this stock with a stop loss of Rs 1,230 and target of Rs 1,050 would be a selling point. This stock can see a return of 10.6 percent in 3-4 weeks.
Investment Advice by Shrikant Chauhan of Kotak Securities
Pidilite Industries: Sell | LTP: Rs 2,432.25 | , Selling advice for this stock with a stop loss of Rs 2,500 and a target of Rs 2,250 would be a selling point. This stock can see a return of 7.5 percent in 3-4 weeks.
Wipro: Sell | LTP: Rs 561.45 | Selling advice for this stock with a stop loss of Rs 575 with a target of Rs 510 would be a selling point. This stock can see a return of 9.2 percent in 3-4 weeks.
Fortis Healthcare: Buy | LTP: Rs 259.20 | Buying advice in this stock with a stop loss of Rs 244 and target of Rs 285 would be a buy. This stock can see a return of 10 percent in 3-4 weeks.
Investment advice from Sameet Chauhan of Angel One
Mahindra & Mahindra: Buy | LTP: Rs 853.65 | Buying advice is on Mahindra & Mahindra with a stop loss of Rs 815 and target of Rs 910. This stock can give a return of 6.6 percent in 2-3 weeks.
BSE: Buy , LTP: Rs 2,271.40 | Buying advice will be given on BSE with a stop loss of Rs 2,100 and target of Rs 2,500. This stock can give 10 percent return in 2-3 weeks.
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