Domestic benchmark indices Sensex and Nifty had seen a spectacular rise a trading day ago, but today the sell-off in banking stocks spoiled the mood of the market.
Stock Tips: Domestic benchmark indices Sensex and Nifty had seen a spectacular rise a trading day ago, but today (February 16) the sell-off in banking stocks spoiled the mood of the market. Selling in banking and financial stocks created pressure in the last minutes of trading today amid volatility throughout the day. Shrikant Chauhan, head of equity research (retail), brokerage firm Kotak Securities, has advised investors to invest in Tech Mahindra, Coal India, Divis Lab and HDFC Bank. On the other hand, if we talk about the benchmark index, according to Chauhan, if Nifty/Sensex remains above 17200/57800, then it can reach the height of 17450-17550/58500-58750.
Tech Mahindra: BUY (Current Price: Rs 1,440.40)
- After touching the record high in this stock, correction was seen. After this it entered the accumulation phase near the critical support area. Finally, with a strong reversal candlestick formation, it is showing signs of a bullish trend in the coming trading days.
- Investors can put money in Tech Mahindra at the current price of Rs 1525 with a stop loss of Rs 1,415.
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Coal India: BUY (Current price: Rs 163.85)
- The stock is showing bullish momentum with higher low series on the daily chart. Apart from this, it has created a cup and handle chart pattern with better volume activity. In such a situation, in the near term, there is a possibility that this stock can break out of the current range and jump up.
- Investors can invest in Coal India shares at the current price with a target price of Rs 175. A better strategy would be to keep a stop loss of Rs 160 for investing in this.
Divis Laboratories: BUY (Current price: Rs 4,458.00)
- After recovery from the lower level, Divis Lab is now moving up and down in a limited range. Due to this, a flag chart pattern has been formed on the daily scale, which is indicating bullish movement in the coming trading days.
- Investors can invest in this stock by placing a stop loss of Rs 4,240 at the target price of Rs 4560 at the current price.
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HDFC Bank: BUY (Current price: Rs 1,512.50)
- For the last few trading days, this stock is trading in the rectangular range. A strong bullish candlestick pattern is indicating that it may break the upper limit of the current trading range in the near term.
- Investors can invest in this stock by placing a target price of Rs 1620 on the stop loss of Rs 1500.
(Current prices are the closing prices on the trading day of February 16 on NSE.)
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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