BUY OR SELL ideas by experts for closing trade

NEW DELHI: Indian markets continued to reel under pressure as fears of double dip recession in the US and financial crisis in Europe gripped global equities. Investors now await US jobs data for confirmation whether the US economy is slipping into recession.

Experts are of the view that investors should start nibbling at selective stocks at lower levels and the market may witness pull-back rally in the next few sessions.

"Nifty is likely to hit levels closer to 5250 and may find some semblance of support at those levels", says Kunal Saraogi, CEO, Equityrush. "Traders must continue to hold shorts on the Nifty with a revised stop loss above 5380 and a target of 5250 and 5200", adds Kunal.

Stocks across the board are likely to be hit hard and mid cap stocks are likely to be pummeled the hardest and investors will scramble to cover long positions.

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

Ashwani Gujral of ashwanigujral.com

Lovable Lingerie Ltd is a 'SELL' call with a target of Rs 300 and a stop loss of Rs 400

Jubilant Foodworks Ltd is a 'SELL' call with a target of Rs 650 and a stop loss of Rs 800

BPCL is a 'BUY' call with a target of Rs 750 and a stop loss of Rs 680

Sudarshan Sukhani of Technical Trends

CESC is a 'BUY' call with a target of Rs 346 and a stop loss of Rs 316

Gujarat Mineral Development Corporation Ltd is a 'BUY' call with a target of Rs 169 and a stop loss of Rs 158