'BUY' OR 'SELL' ideas by experts for Friday, February 10

NEW DELHI: Indian shares are expected to trade lower on Friday tracking weak Asian markets after the much awaited Greece bailout deal failed to bring cheer in the markets.

“The agreement, after weeks of wrangling over the terms of the 130 billion euro ($172.95 billion) bailout, removed the imminent risk of a hard default by Greece, which faces a major bond redemption on March 20,” according to a Reuters report.

Greek political leaders agreed on a deal on severe austerity measures, but the global lenders demanded more steps before providing any aid. Euro zone officials say the full package must be agreed with Greece and approved by the EU, IMF and European Central Bank by Feb. 15.

Nifty staged a late rally to close 0.8 percent higher on Thursday despite profit-taking through most of the session, as continued foreign fund inflows boosted investor confidence.

After a pause of three days markets have once again gained upward momentum. The 50-share Nifty index closed above 5400 on Thursday, first time after gap of almost 6 months and during this period we also saw a low of 4531 on the index.

“Based on technical charts, the index gained huge strength recovering from the low to a close above 5400. Looking ahead, there are many resistance levels like 5450, 5500 but, it would be difficult to point from which level the correction can start,” said Rakesh Gandhi, Sr Technical Analyst of LKP Securities Ltd.

“We can expect increased activity in mid-cap and high beta stocks. The nearest support for Nifty is around 5300,” added Rakesh.

Important Results to watch out for:

BF Utilities Ltd, BPCL, Bharti Shipyard Ltd, Britannia Industries Ltd, DLF Ltd, Elder Pharma Ltd, IDFC Ltd, JSW Steel Ltd, Lovable Lingerie Ltd, Pantaloon Retail India Ltd, Reliance Capital Ltd, Sun TV, Tata Chemicals Ltd and Tata Power Company Ltd.

Click here for Views & Recommendations

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

Ashwani Gujral of ashwanigujral. com

IVRCL Ltd is a 'SELL' call with a target of Rs 56 and a stop loss of Rs 67

Union Bank of India is a 'BUY' call with a target of Rs 265 and a stop loss of Rs 247

Power Finance Corporation Ltd is a 'BUY' call with a target of Rs 215 and a stop loss of Rs 194

Financial Technologies India Ltd is a 'BUY' call with a target of Rs 830 and a stop loss of Rs 795

Reliance Power Ltd is a 'BUY' call with a target of Rs 114 and a stop loss of Rs 103

Mid-Day Calls

Cummins India Ltd is a 'BUY' call with a target of Rs 490 and a stop loss of Rs 445

Tata Power Ltd is a 'BUY' call with a target of Rs 121 and a stop loss of Rs 110

Tata Steel Ltd is a 'BUY' call with a target of Rs 490 and a stop loss of Rs 450

Mitesh Thacker of miteshthacker. com

BUY CNX IT index with a target of 6800 and a stop loss of 6350

Tata Steel Ltd is a ‘SELL’ call with a target of Rs 424 and a stop loss of Rs 461.50

Indian Hotel Company Ltd is a ‘BUY’ call with a target of Rs 82 and a stop loss of Rs 70.50

Havells India Ltd is a ‘BUY’ call with a target of Rs 505 and a stop loss of Rs 478

Apollo Tyres Ltd is a ‘BUY’ call with a target of Rs 81 and a stop loss of Rs 72

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services

Delta Corp Ltd is a ‘BUY’ call with a target of Rs 90 and a stop loss of Rs 78.50

Arvind Ltd is a ‘BUY’ call with a target of Rs 104 and a stop loss of Rs 92.50

Dhanlaxmi Bank Ltd is a ‘SELL’ call with a target of Rs 73.50 and a stop loss of Rs 64.50

Phillips Carbon Black Ltd is a ‘BUY’ call with a target of Rs 111 and a stop loss of Rs 98.50

(The views and recommendations expressed in this section are the analysts own and do not represent those of EconomicTimes.com)