Markets in red; top trading strategies for today

MUMBAI: The benchmark indices pared early gains and slipped in the negative territory on concerns of global economic recovery. According to analysts, the market is likely to shift to lower end of trading range in coming sessions.

"FIIs unwound their long positions last week. As we highlighted, their open interest has reduced much more than Nifty and Bank Nifty open interest since the beginning of December series. This unwinding has continued and now we are witnessing formation of short positions by them with sell figures emerging in cash market segment as well," said Siddarth Bhamre, head – derivatives, Angel Broking.

At 2:48 pm, the Sensex was at 27,350.11; down 251.90 points.

The Nifty was at 8,223.50; down 69.40 points.
ET Now spoke to various experts and here's what they have to recommend for today's trade:

Mitesh Thacker, Technical Analyst, www.miteshthacker.com

Buy Glenmark Pharmaceuticals with stoploss of Rs 814 for target of Rs 865

Buy Andhra Bank with stoploss of Rs 88 for target of Rs 95

Buy Aurobindo Pharma with a stoploss below Rs 1130 for target of Rs 1200

Buy Canara Bank with a stoploss below Rs 421 for target of Rs 455



Sandeep Wagle, Founder & CEO,www.powermywealth.com

Buy Glenmark Pharmaceuticals with stoploss of Rs 815 for target of Rs 848.

Buy Amara Raja Batteries with stoploss of Rs 735 for target of Rs 785.

Sell Cairn India with stoploss of Rs 250 for target of Rs 232.

Sell Sun Tv with stoploss of Rs 362 for target of Rs 342.



Prakash Gaba, www.prakashgaba.com

Buy Sun Pharma with stoploss of Rs 835 for target of Rs 870.

Buy Talwalkars with stoploss of Rs 270 for target of Rs 295.

Buy Tata Motors DVR with stoploss of Rs 335 for target of Rs 350.



Siddhartha Chatterjee, Trustline Securities

Buy DCB Bank with stoploss of Rs 107 for target of Rs 113

Buy SKS Micro with stoploss of Rs 392 for target of Rs 408

Buy Amara Raja with stoploss of Rs 735 for target of Rs 759



Gaurav Ratnaparkhi, Technical Analyst, Sharekhan

Buy Tata Communications with stoploss of Rs 431.50 for target of Rs 457

Buy Ashok Leyland with stoploss of Rs 49.40 for target of Rs 53.50

Buy Grasim with stoploss of Rs 3325 for target of Rs 3500

(Views and recommendations expressed in this section are the analysts' own and do not represent those of EconomicTimes.com. Please consult your financial advisor before taking any position in the stocks mentioned.)