On Tuesday, August 17, both Nifty and Sensex were seen touching record highs. In yesterday’s trade, Nifty managed to close above 16,600 on the basis of FMCG and IT stocks. On the other hand, weakness was seen in PSU Bank, Metal and Midcap. Looking at the derivatives, call writing seems to be shifting in the horizon. At the same time, put writers have added a huge amount of open interest at the strike of 16,500.
Kshitij Gandhi of SMC Global says that the Nifty is showing resistance at 16,800. The Nifty will continue to gain momentum in the coming trading sessions as well.
At the same time, the banking index is facing resistance in the zone of 36,000-36,400. If Bank Nifty moves upwards by breaking this level, then we will see more upside in it and we may see it moving towards 37,000 in the coming weeks.
Today’s three calls of Kshitij Gandhi in which big money can be made in 3-4 weeks
Reliance Industries: Buy| LTP: Rs 2,163|
Buying advice is given in Reliance Industries with a stop loss of Rs 2,020 for a target of Rs 2,373. In 3-4 weeks this stock can see an upside of 10 percent.
(Disclaimer: Moneycontrol website is part of Network18 Group. Network18 is controlled by Independent Media Trust of which Reliance Industries is the sole beneficiary.)
HDFC Asset Management Company: Buy| LTP: Rs 2976|
In HDFC AMC, Kshitij Gandhi has a buy call on Kshitij Gandhi with a stop loss of Rs 2800 with a target of Rs 3275. In 3-4 weeks this stock can see an upside of 10 percent.
Aarti Industries: Buy| LTP: Rs 952
Buying advice is placed on Aarti Industries with a stop loss of Rs 880 for a target of Rs 1060. An upside of 11 per cent can be seen in this stock in 3-4 weeks.
Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.