Sensex rangebound, Nifty holds 7650 levels; top 20 trading ideas

NEW DELHI: The S&P BSE Sensex gained as much as 118 points in a rangebound trade on Friday tracking Asian markets which were trading lower on news of a crash of the Malaysian Airlines passenger plane near the Ukraine-Russia border.

The sentiment shifted to defensive sectors such as IT, pharma and FMCG stocks as the crash stoked concerns that the conflict in Ukraine might widen.

Tracking the momentum, the 50-share Nifty index was now trading near its crucial psychological support level of 7650, weighed down by losses in banks, capital goods, realty, power and capital goods stocks.

At 15.15 hours.; the BSE Sensex was trading 0.37 per cent lower or 94 points at 25,655. It hit a low of 25,441.24 and a high of 25,713 in trade today.

The 50-share Nifty index was trading 0.39 per cent lower or 29 points at 7669.75. It hit a low of 7595.50 and a high of 7,685 in trade today.

Market highlights:

- Tata Power, Hindalco and BHEL among the top losers on the Sensex.

- Midcaps, smallcaps witness mild selling pressure, indices down 0.4 and 0.04% respectively.

- Markets near day's high; Sensex@25,681.51 up 120.35 (+0.47%), Nifty@7,676.50 up 36.05 (+0.47%)

- TCS, Hero MotoCorp and Axis Bank top gainers on the Sensex up 2-2.7% each

- Muthoot Finance surged over 9 per cent to Rs 195.40

- Manappuram Finance rose 5 per cent to Rs 23.85 on Friday.

- Tata Elxsi Q1 PAT at Rs 20.7 crore

- Russia's MICEX Index drops 1.6% at open, lowest since May 28

- Persistent Tech, Mphasis hit fresh highs

- BSE IT posts best gain since July 4 | All 10 tech stocks in index post gains

- BSE IT Index Gains for 3rd day | Price: 9459.30 Change: +191.26 Percent Change: +2.06%

- KEC International Price wins Rs 246 crore order. Price: 133.80 Change: +3.35 Percent Change: +2.57%

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

Mitesh Thacker of miteshthacker.com

Wipro Ltd is a 'BUY' call with a target of Rs 570 and a stop loss of Rs 543

Crompton Greaves Ltd is a 'BUY' call with a target of Rs 235 and a stop loss of Rs 210

GAIL is a 'SELL' call with a target of Rs 433 and a stop loss of Rs 455

Exide Industries is a 'BUY' call with a target of Rs 165 and a stop loss of Rs 150

Sandeep Wagle, Founder & CEO, Power My Wealth

Exide Industries is a 'BUY' call with a target of Rs 166 and a stop loss of Rs 151

Hexaware is a 'BUY' call with a target of Rs 162 and a stop loss of Rs 150

Asian Paints is a 'BUY' call with a target of Rs 603 and a stop loss of Rs 578

REC Ltd is a 'SELL' call with a target of Rs 307 and a stop loss of Rs 319

Prakash Gaba, CFT, prakashgaba.com

CESC Ltd is a 'BUY' call with a target of Rs 700 and a stop loss of Rs 650

Cummins India is a 'BUY' call with a target of Rs 700 and a stop loss of Rs 660

J&K Bank is a 'BUY' call with a target of Rs 1730 and a stop loss of Rs 1630

A K Prabhakar, Independent Market Expert

REC Ltd is a 'SELL' call with a target of Rs 285 and a stop loss of Rs 328

Hexaware is a 'BUY' call with a target of Rs 164 and a stop loss of Rs 147

NRB Bearings is a 'BUY' call with a target of Rs 100 and a stop loss of Rs 88

Gaurav Ratnaparkhi, Technical Analyst, Sharekhan

IndusInd Bank Ltd is a 'SELL' call with a target of Rs 500 and a stop loss of Rs 542