Sensex flat, Nifty trades near 8250; top 10 intraday trading ideas

NEW DELHI: The S&P BSE Sensex was seen consolidating in a narrow range on Tuesday, weighed down by losses in RIL, HDFC Bank, ONGC, Sesa Sterlite and Tata Steel.

Tracking the momentum, the 50-share Nifty index also slipped from its intraday high, but was still trading near its crucial psychological level of 8250.

Nifty managed to respect the support level of 8170 and resumed its bounce on Monday. So, in the immediate term, the same level of 8170 continues to remain as a key support.

"If Nifty sustains above this level then we may expect a test of 8300 and beyond that 8365 is possible in coming sew sessions," brokerage firm, GEPL Capital said in a report.

"Though, 8365 is a minor resistance for the index, it may likely be surpassed and Nifty may test 8480 in coming weeks," added the report.

At 11:40 a.m.; the 30-share index was trading at 27,392.62, down 4 points or 0.01 per cent. It touched a high of 27,478.30 and a low of 27,336.33 in trade today.

The Nifty was at 8246 up 2 points or 0.01 per cent. It touched a high of 8268.25 and a low of 8230.30 in trade today.

ET Now spoke to various experts and here's what they have to recommend for today's trade:

Sandeep Wagle, Founder & CEO, Power My Wealth

IRB Infrastructure Ltd is a 'BUY' call with a target of Rs 275 and a stop loss of Rs 256


Prakash Gaba, CFT, prakashgaba.com

BEML Ltd is a 'BUY' call with a target of Rs 760 and a stop loss of Rs 700

Tech Mahindra Ltd is a 'BUY' call with a target of Rs 2640 and a stop loss of Rs 2584

Thermax Ltd is a 'BUY' call with a target of Rs 1085 and a stop loss of Rs 1063


Rakesh Bansal, VP - R K Global

Sun Pharma Ltd is a 'BUY' call with a target of Rs 872 and a stop loss of Rs 800

Cairn India Ltd is a 'SELL' call with a target of Rs 226 and a stop loss of Rs 250

Escorts Ltd is a 'BUY' call with a target of Rs 135 and a stop loss of Rs 124


Abhishek Karande, CMT, Technical Analyst - Institutional Research, SBICAP Securities

UltraTech Cements Ltd is a 'BUY' call with a target of Rs 2800 and a stop loss of Rs 2575

Divi's Laboratories Ltd is a 'BUY' call with a target of Rs 1850 and a stop loss of Rs 1678

ZEE Entertainment Ltd is a 'BUY' call with a target of Rs 424 and a stop loss of Rs 365

(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.)