Posted On September 28, 2016 By In Business And 499 Views

Sell Axis Bank, ICICI Bank, Maruti Suzuki, Buy IDFC: Sumeet Bagadia

Nifty is looking weak on charts and if it breaks it support at 8,700 on closing basis then it can fall further, says Sumeet Bagadia, associate director at Choice Broking. Any pull back in Nifty towards 8,720 should be used as a selling opportunity for target of 8,600-8,620 as the structure is looking weak, adds Mr Bagadia. (Watch) Sell Axis Bank: The stock is looking weak on charts and investors can sell Axis Bank for target price of Rs 510 with stop loss at Rs 560. Sell ICICI Bank: The stock is looking weak after it corrected from Rs 275 to Rs 260. Meanwhile, traders can go short on ICICI Bank with stop loss at Rs 260 for target of Rs 245-240. Sell State Bank of India: The stock looks weak and traders can sell SBI with stop loss at Rs 260 for target of Rs 235-230. Sell Bank of Baroda: The stock looks weak and traders can sell this stock with stop loss at Rs 172 for target of Rs 140-145. Sell Maruti Suzuki: The stock is looking weak on charts and traders can sell Maruti Suzuki for target of Rs 5,300 for next 10 trading sessions with stop loss at Rs 5,610. Sell Bajaj Auto: The stock looks weak on charts and traders can sell Bajaj Auto for target of Rs 2,750 with stop loss at Rs 2,930. Buy IDFC Ltd: The stock is looking good on charts after it broke out of a phase of consolidation. The stock can go up to Rs 72-73 and investors should buy IDFC on dips around Rs 59 for target of Rs 70-72.

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