Sectorally, buying was seen in power, utilities, capital goods, and the public sector while some selloff was seen in IT names.
The momentum remains strong, and investors can look for buying the index on dips, although it is trading near overbought levels, suggest experts.
“Though Nifty paused on Tuesday at 17,835, we are not convinced that Nifty has topped out. This encourages us to continue riding the 18,200 view, but with VIX slipping, trading ranges are indeed shrinking,” Anand James – Chief Market Strategist at , said.
“Downside markers may continue to remain near 17,660-17,690, with 17,900 vicinities likely to pose an intraday challenge,” he said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Gaurav Ratnaparkhi, Head Technical Research, Sharekhan by told ETBureau
ICICI Lombard: Buy| Target Rs 1350-1390| Stop Loss Rs 1250
The stock has broken out from a falling trendline. The daily momentum indicator has started a new cycle on the upside which is a positive sign for the bulls.
IEX: Buy| Target Rs 178-185| Stop Loss Rs 166
The stock has broken out from a triangle pattern on the hourly chart. Bullish breakout is being accompanied by volumes which is a positive sign for the bulls.
Exide Industries: Buy| Target Rs 170-176| Stop Loss Rs 159
The stock is moving up along with a rising trendline. It has broken out from an Inside bar pattern on the daily chart.
Expert: Kunal Bothra, Market Expert told ETNow
BPCL: Buy| Target Rs 360| Stop Loss Rs 337
RIL: Buy| Target Rs 2700| Stop Loss Rs 2600
Expert: Nooresh Merani, independent technical analyst told ETNow
United Spirits: Buy| Target Rs 870| Stop Loss Rs 795
Bandhan Bank: Buy| Target Rs 320| Stop Loss Rs 273
Tata Power: Buy| Target Rs 260| Stop Loss Rs 232
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
