Sectorally, selling was seen in energy, oil & gas, IT, as well as realty stocks while buying was visible in banks, capital goods, and utilities.
After a strong rally seen this, the Nifty50 is now trading near overbought levels and some consolidation cannot be ruled out. Traders are advised to book profits around current levels, but the larger trend is still on the upside, suggest experts.
“FII’s have covered some of their short positions in the index futures segment in the week gone by and their short covering has led to this positive momentum. This week, the resistance will be seen around the 17,000 mark,” Ruchit Jain, Lead Research, 5paisa.com, said.
“On the flip side, the immediate support for Nifty is placed around 16590, followed by the recent gap zone of 16490-16360,” he said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Chandan , Derivative & Technical Analyst, to ETBureau and ETNow
HDFC: Buy| Target Rs 2400| Stop Loss Rs 2244
On the weekly frame, the stock has been trending upwards and is gradually shifting the base higher which is a positive sign for the bulls.
Axis Bank: Buy| Target Rs 765| Stop Loss Rs 715
The stock has confirmed a breakout on the weekly frame charts with a strong closing and is moving upwards unilaterally after surpassing the immediate hurdles.
Cements: Buy| Target Rs 6750| Stop Loss Rs 6315
Higher lows from five weeks and a strong breakout on the daily frame auger well for the bulls. It will be crucial for the bulls to sustain above higher zones.
Tata Elxsi: Buy| Target Rs 8650| Stop Loss Rs 8200
Voltas: Sell| Target Rs 960| Stop Loss Rs 1020
Expert: Kunal Bothra, Market Expert told ETNow
Buy or Sell: Stock ideas by experts for July 25, 2022
ET Now spoke to various experts and here’s what they have to recommend for today’s trading session. Kunal Bothra has a buy/sell recommendation on L&T an AB Capital while Chandan Taparia has buy/sell recommendation on Axix Bank and Voltas for today’s trading session. Check out the targets and stoploss.
Angel One: Buy| Target Rs 1500| Stop Loss Rs 1400
L&T: Buy| Target Rs 1820| Stop Loss Rs 1730
Aditya Birla Capital: Buy| Target Rs 110| Stop Loss Rs 100
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
