On February 25, 7 consecutive days of decline in the market was seen to stop. It was also the first day of the March series. On this first day of the March series, the market managed to close with a gain of 2.5 percent. After the Russian invasion of Ukraine, along with Sensex-Nifty, mid and smallcap stocks have also seen weakness. Along with this, the price of crude oil has also been seen crossing $ 100 per barrel. Foreign institutional investors have also withdrawn Rs 19,843 crore from the market last week.
Nagraj Shetty of HDFC Securities Says that Friday’s market rally can be a happy news for the market. But there is a big hurdle for Nifty on the upside at 16700-16800. Staying above this will be a big challenge for Nifty. Any upside above this would face major resistance in the short term and lower highs could show weakness. There is immediate resistance for Nifty at 16500 level.
Sameet Chavan of Angel One Lets say that looking at the Daily Time Frame chart, we have seen Nifty slipping below the 200 SMA located around 16900 as it happened with a breakaway. In such a situation, if the Nifty does not regain the level of 16,800-17,000 with strength, the market will remain a challenge for the traders and in the near term this will happen only when the tension between Russia and Ukraine subsides and until this happens. Difficulties will continue.
At present, there is immediate support for Nifty at 16,400 and then at 16,200. However, if conditions worsen from here, then we can see Nifty going below 16000 also. We will have to keep an eye on what happens next. Till the situation regarding Russia and Ukraine is not clear, the market will remain volatile. Investors would be advised not to get excited about any single day’s bounce. Keep a close eye on the current conditions and keep your positions light.
Here we are giving you 10 top trading ideas suggested by experts in which you can earn double digit in 3-4 weeks-
Kotak Securities’s Shrikant Chauhan’s Choice
Tech Mahindra: Buy | LTP: Rs 1,389.7 | Buying advice in this stock with a stop loss of Rs 1,320 and a target of Rs 1,575 would be a buy. This stock can see a return of 13% in 3-4 weeks.
Trent: Buy | LTP: Rs 1,070.10 | Buying advice in this stock is a target of Rs 1,200 with a stop loss of Rs 950. This stock can see a return of 12 per cent in 3-4 weeks.
In the current geopolitical tension, if Nifty slips below 16000, then do not panic, buy quality stocks, there will be strong earnings ahead
Canara Bank: Buy | LTP: Rs 218.45 | Buying advice in this stock with a stop loss of Rs 195, target of Rs 270. This stock can see a return of 24 per cent in 3-4 weeks.
Nandish Shah’s pick of HDFC Securities
Timken India: Buy | LTP: Rs 2,061.35 , Buying advice in this stock with a stop loss of Rs 1,950 and target of Rs 2,270 would be a buy. This stock can see a return of 10 percent in 3-4 weeks.
Mahindra Holidays and Resorts: Buy , LTP: Rs 209.60 | Buying advice in this stock with a stop loss of Rs 195 and a target of Rs 235 would be a buy. This stock can see a return of 12 per cent in 3-4 weeks.
Blue Star: Buy | LTP: Rs 1,057 | Buying advice in this stock with a stop loss of Rs 1,000 and target of Rs 1,200 would be a buy. This stock can see a return of 14 per cent in 3-4 weeks.
Ruchit Jain’s picks from 5paisa.com
Havells India: Sell | LTP: Rs 1,168.40 | Buying advice for this stock is Rs 1,180 with a stop loss of Rs 1,100. This stock can see a return of 6 percent in 3-4 weeks.
Gujarat Narmada Valley Fertilizers & Chemicals: Buy | LTP: Rs 546.40 | Buying advice in this stock is a target of Rs 618 with a stop loss of Rs 505. This stock can see a return of 13% in 3-4 weeks.
Rupak Day’s pick of LKP Securities
Amara Raja Batteries: Buy | LTP: Rs 553.10 | Buying advice in this stock is a target of Rs 620 with a stop loss of Rs 534. This stock can see a return of 12 per cent in 3-4 weeks.
Gujarat Narmada Valley Fertilizers & Chemicals: Buy | LTP: Rs 546.4 | Buying advice in this stock with a stop loss of Rs 518 and target of Rs 621 would be a buy. This stock can see a return of 14 per cent in 3-4 weeks.
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