If you look at the market before the budget, then there is a negative diversion in the Nifty and Sensex on the daily chart. Which may add further weakness in the market. From a short-term perspective, if the Nifty / Sensex does not stick to the 13,900 / 47,300 level, then the Nifty can move downward to 13700. At the same time, it can go towards the level of 46500 of Cessanx.
At the same time, 14,200 / 48,200 and 14,350 / 48,500 will be important registration levels. Which should be used to lighten weak long positions. Since the market has seen a steep decline before the budget, we should focus on including quality stocks with a strong balance sheet between 14,000 and 13,700 (47,500) in our portfolio.
13750 (50-Days SMA) is the key level for the Nifty. In the near term, we may see a relief rally in the market, but if the market again crosses the 14750 level, then there will be a good rally.
Kotak Securities Budget Pix
SBI Life: Buy
The stock has seen strong growth recently but after the breakout of Rs 921, the stock has not been able to hold up and has seen a 10 per cent fall due to selling pressure. However, from the medium-term perspective, it is in the stock-positive zone and now it can see an increase.
The stock is currently trading around its 50-Day SMA. Its daily and weekly structure shows clear signs of growth from the current level. Investors are advised to invest 50 per cent of their investment in this stock around Rs 875, while the remaining half should invest around Rs 825. This stock can see a target of Rs 1250. Positive traders would be advised to keep a stop loss at Rs 760.
Bharti Airtel: Buy
The stock appears to be on a long-term breakout. It has broken its multi-year registration of 500 rupees. In the medium term, this stock can see a level of Rs 700. This stock can also be purchased at current levels. If a fall is found, it will prove to be a better bet. To buy this stock, make a stop loss of Rs 530.
Ambuja Cement: Buy
It is making higher tops and higher bottoms on Stock Weekly and Monthly Basis. This stock recently broke the Consolidation Formation at the level of Rs 225 and after that it has seen fast recovery. Technically speaking, the stock is set to go above Rs 291.5 which is its all-time high. It is advisable to buy this stock in different stages with a stop loss of Rs 225. This stock can see a level of Rs 290- 300 in the medium term.
On the long-term chart (in a period of 1 month), this stock is seeing positive diversion, seeing that it can see a level of 100 to 75 rupees in this stock. The metal index is also seeing strong gains. The metal index looks set to cross its all-time high in the coming few months in which SAIL (SAIL) will play a key role. Investors in SAIL would be advised to buy around 50 rupees at the current level and any decline. The stock will see an upswing in coal mine allocation and railway-related projects.
The stock is following a higher high and higher low pattern on a monthly basis. Which is an indication that every major decline is buying in this stock. Investors are advised to buy this stock both at the current level and any decline. Investors would be advised to keep a stop of 1150 rupees. In the medium term, this stock can see a level of Rs 1350 to 1500.
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