The National Stock Exchange's Nifty ended volatility marred session in the red on Thursday the last day of February F&O series.
Indian markets have rallied over 1000 points over the last couple of months from the lower end of the range and now we are heading towards a very important event in March, the Union Budget. Most analysts are of the view that it will be a stock specific market atleat for the first week of March.
"The February F&O expiry ended with gain of almost 6% and as expected there will be some volatility from now on. Nifty roll over took place with a very high premium of 55 points," said Rakesh Gandhi, Sr Technical Analyst of LKP Securities Ltd.
"As per technical charts, it is very clear that for markets to regain upward trajectory, Nifty has to close above 5600 and 18400 on the Sensex. Further long term charts indicate that 5400 will act as support while based on short term averages 5570 for Nifty future will act as a strong resistance level," added Rakesh.
He further adds, the chart formations indicates that trend looks weak and will slip further in the next week if today we see Nifty closes below 5460 and Sensex below 18,000
ET Now spoke to various experts and here's what they have to recommend for today's trade:
Ashwani Gujral of ashwanigujral. com
Cummins India Ltd is a 'BUY' call with a target of Rs 485 and a stop loss of Rs 450
Jubilant FoodWorks Ltd is a 'BUY' call with a target of Rs 1100 and a stop loss of Rs 990
Punjab National Bank is a 'SELL' call with a target of Rs 950 and a stop loss of Rs 1025
Dhanlaxmi Bank is a 'BUY' call with a target of Rs 75 and a stop loss of Rs 60
Financial Technologies Ltd is a 'SELL' call with a target of Rs 800 and a stop loss of Rs 865
Mitesh Thacker of miteshthacker. com
IOC is a 'BUY' call with a target of Rs 300 and a stop loss of Rs 276
Jubilant FoodWorks Ltd is a 'BUY' call with a target of Rs 1090 and a stop loss of Rs 969
IndusInd Bank Ltd is a 'BUY' call with a target of Rs 335 and a stop loss of Rs 303.50
Patni Computer Systems Ltd is a 'SELL' call with a target of Rs 436 and a stop loss of Rs 469
Videocon Industries Ltd is a 'BUY' call with a target of Rs 191 and a stop loss of Rs 178
Sandeep Wagle, Founder & MD, APTART Technical Advisory Services
Punjab National Bank is a 'SELL' call with a target of Rs 972 and a stop loss of Rs 1011
Bhushan Steel Ltd is a 'SELL' call with a target of Rs 364 and a stop loss of Rs 382.50
Sobha Developers Ltd is a 'BUY' call with a target of Rs 271.50 and a stop loss of Rs 282
Amtek India Ltd is a 'BUY' call with a target of Rs 146 and a stop loss of Rs 135
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