Between 16 February and 26 February, Sensex has seen a decline of 6.5 per cent and Nifty by 5.8 per cent. Explain that both the Sensex and the Nifty touched their record highs on 16 February. The decline in 8 trading sessions pushed the Nifty below its critical support level at 14,550 levels, while Sensex slipped below 50000 in the week ended 26 February.
The market is indicating a trend reversal, due to which market experts advise that investors should be cautious about the movement of the market and place bets on quality stocks only. Market experts say that Nifty was trading in the overbought zone. Now it was natural to have some degradation or correction. There may be some disappointment among investors due to weak global cues, but the larger trend of the market still remains good.
Sameet Chavan of Angel Broking told Moneycontrol by Sameet Chavan that looking at the price structure, it seems that the fall of the Nifty could go up to 14,200 – 14,000. The 14,000 level will be very important for the Nifty. Know below this, but then the level of 13,700 – 13,500 can be seen in the Nifty.
He further said that we will keep an eye on how the Nifty behaves around 14000 in the coming week. We believe the short-term buoyancy of the market has turned downward and this outlook will remain until the Nifty breaks the 15200 level. From an immediate perspective, the 14,750 – 14,920 level for the Nifty will serve as an intermediate hurdle.
Samit Chavan further said that even if all the above possibilities turn into reality, traders should not panic as the degree uptrend (long-term outlook) of the market remains very good. Samit Chavan advises that Momentum traders should avoid taking aggressive trades for the time being, and consider this decline in the market as a good time to buy quality stocks from a long perspective.
Here we are giving you a list of some such stocks where there can be good earnings in the short term.
Angel Broking के Sameet Chavan Of NTPC Has a buy recommendation for a target of Rs 118 with a stoploss of Rs 94.50. Right now this stock is trading around Rs 107. Samit Chavan says that in the short term, this stock can easily see a growth of 10 per cent.
Bajaj Finance in Samit Chavan Has a selling opinion. He says that the stock should sell for a target of Rs 5080 with a stoploss of Rs 5460. Currently, the stock is seen around Rs 5234.55. Samit Chavan is of the opinion that the stock may see a 3 per cent decline in the short term.
Sameet Chavan in ICICI Bank Is of the opinion of the seller. He says that the stock should sell for a target of Rs 564 with a stoploss of Rs 615.60. This stock is possible to fall by up to 6% in the short term. Currently ICICI Bank’s stock is operating at Rs 597.25.
Narnolia Financial Advisors के Shabbir Kayyumi Is of the opinion that Bharat Heavy Electricals Limited Should be shopping in At present, this stock is seen around Rs 47.65. Buy this stock with a stop of Rs 42 for a target of Rs 60. It may soon see an increase of 27 per cent.
Shabbir Kayyumi also in Coal India Shopping advice. He says that the stock should be bought for a target of Rs 172 with a stoploss of Rs 140. Currently, the stock is hovering around Rs 152. A 13 per cent gain in this stock is possible soon.
Shabbir Kayyumi की Sun Pharmaceutical Industries I also recommend shopping. He says that the stock should be bought around Rs 595. Keep the target for this purchase at Rs 670 and Stoploss Rs 555. The stock can easily see a 12 per cent rise in the short term.
CapitalVia Global Research की Likhita Chepa (Duration 3-4 weeks) Wockhardt (Wockhardt) – This stock has a buy recommendation for a target of Rs 598 with a stop loss of Rs 470. Currently, this stock is seen around 500 rupees. Likhita believes that the stock may see an upside of 19 per cent in 3-4 weeks.
KEC International – The stock has a buy recommendation for a target of Rs 500 with a stop loss of Rs 405 around Rs 445. Likhita is of the opinion that in 3-4 weeks this stock can see a growth of 12%.
Tata Motors – The stock seems to be around Rs 323. It has a buy recommendation for a target of Rs 440 with a stop loss of Rs 299. The stock is expected to grow by 28 per cent over the next 304 weeks.
SMC Global Securities Ltd Of VIP Industries I recommend shopping with a stoploss of Rs 375 for a target of Rs 450. Currently, the stock is seen around Rs 401. Brokerage House believes that the stock may see a 12 per cent rise in the short term.
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