The cues from the Asian markets remained largely negative on Monday.
The cues from the Asian markets remained largely negative on Monday. A majority of the Asian indices, including SGX Nifty, were trading deep in the red in the morning.
SGX Nifty, which hints at early trends of the market, was trading nearly 100 points lower to 16,131 on the Singaporean exchange around 7.40 am on Monday.
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Meanwhile, Hang Seng Index dropped more than two per cent, Chinese Shanghai Composite over one per cent in the early trade. However, Japanese Nikkie 225 surged higher by 1.6% around the same time.
Speaking of the Nifty trends, Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said the index witnessed a smart recovery in the last week. On the way up, it crossed short term hurdles, including the psychological mark of 16000, he said.
“It filled up a gap area that was created during the June decline. The index has now reached a crucial junction. It has reached its daily upper Bollinger Band as well as upper end of a rising channel. In terms of the Fibonacci retracement, it has done little more than 61.8% of the June fall,” said Ratnaparkhi.
If the Nifty crosses July 08 high of 16275, then it can head towards 16500 in the short term, says the expert. “On the flip side, failure to hold above 16200 will allow a dip towards 16050-16000,” he adds.
Meanwhile, irrespective of how the market reacts, Zee Business brings you a list of 20 stocks for profitable trade religiously on a daily basis. These stocks are picked from cash, techno and F&O space with short-to-long-term time horizon. It also includes intraday calls. The list is made in such a way that it helps investors make profit on their capital in a stipulated period of time. Below is the list of such stocks on Monday.
Varun Dubey Stock Picks
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Cash
Buy MMTC Target Rs 42.5 SL RS 39.5
Futures
Sell TCS FUT Target Rs 3200 SL RS 3300
Options
Buy wipro 420 PE Target Rs 18 SL RS 12
Tech
Sell Reliance Ind FUT Target Rs 2350 SL RS 2430
FUnda
Buy Anand Rathi Wealth Target Rs 670 SL RS 635
Invest
Tata Coffee Target Rs 250 Duration 6 Months
News
Buy Avenue supermart Target Rs 4020 SL Rs 3900
Choice
Buy Pokarna Target Rs 475 SL RS 450
Buy Asian Paints Target Rs 2950 SL RS 2840
Buy V-Mart Retail Target Rs 2630 SL RS 2500
Best Pick
Buy wipro 420 PE Target Rs 18 SL RS 12
Kushal Gupta Stock Picks
KSB Ltd – Buy – 1525, sl – 1460
FTR
Berger Paints FUT – Sell – 570, sl – 593
OPTN
Apollo Tyres 202.5 [email protected] – Buy – 10, sl – 4
Techno
Tata Power – Buy – 226, sl – 216
Funda
NTPC – Buy – 148, sl – 141
Invest
Power Grid – Buy – 250, Duration – 1 year
News
AIA Engineering – Buy – 2350, sl – 2250
Mychoice
Interglobe Aviation FUT – Sell – 1625, sl – 1700
Birlasoft FUT – Sell – 327, sl – 341
ICICI Bank – Buy – 900 Duration – 1 year
Best Pick
Power Grid – Buy – 250, Duration – 1 year
