'BUY' OR 'SELL' ideas by experts for Friday, March 16

NEW DELHI: Indian shares are expected to trade in range on Friday tracking Union Budget 2012 which is widely expected to be a non-event by most analysts.

The Reserve Bank of India's hawkish stance disappointed the market on Thursday and most analysts fear tomorrow's Union budget session may also be a non-event and investors should approach the event with caution.

"Soon after the RBI monetary policy, market participants sold ahead of the big day on Friday, the Union Budget and indices lost around 1.5%. The 50-share Nifty index found support at 5360. However, after the budget announcement if Nifty sustaining level above 5360 it will signal strength in the market," said Rakesh Gandhi, Sr Technical Analyst at LKP Securities Ltd.

"Based on technical the important levels that needs to be watched for Nifty futures with a trading perspective are 5380 and 5400 as support and 5450, 5480 and 5500 as important resistance levels," added Rakesh.

"Nifty could correct further in the extreme short term and might test levels of 5320 and 5250 before resuming the uptrend. With the Union Budget on Friday, the volatility is certain to rise. However, post the event there could be a sharp fall in volatility in the days to come," said Vinit Pagaria, VP - Investment Strategies, Microsec Capital Ltd.

"We continue to recommend initiating long positions near 5200-5250 and any fall in Nifty triggered by the Union Budget should be used to buy quality stocks. Even though the short term range for the market is expected to be 5200-5600, an upside breakout of the range appears likely in the medium term," added Vinit.

Most market watchers are also speculating that investors will be closely watching the fiscal deficit numbers. The fiscal deficit estimates for FY11-12 has surpassed the most pessimistic numbers even though FM expected it to come down to 4.6 percent levels in FY11-12 against consensus expectations of 5.2-5.4 levels last year.

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

Ashwani Gujral of ashwanigujral. com

DB Realty Ltd is a 'BUY' call with a target of Rs 103 and a stop loss of Rs 86

Pipavav Defence Ltd is a 'BUY' call with a target of Rs 90 and a stop loss of Rs 76

Titan Industries Ltd is a 'SELL' call with a target of Rs 214 and a stop loss of Rs 238

BGR Energy Ltd is a 'SELL' call with a target of Rs 311 and a stop loss of Rs 345

Allahabad Bank is a 'SELL' call with a target of Rs 180 and a stop loss of Rs 200

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services

Educomp Solutions Ltd is a 'BUY' call with a target of Rs 215 and a stop loss of Rs 202.50

Wockhardt Ltd is a 'BUY' call with a target of Rs 610 and a stop loss of Rs 572

Eicher Motor Ltd is a 'BUY' call with a target of Rs 2015 and a stop loss of Rs 1790

Titan Industries Ltd is a 'SELL' call with a target of Rs 230 and a stop loss of Rs 242.50

Aban Offshore Ltd is a 'SELL' call with a target of Rs 452 and a stop loss of Rs 487

Mitesh Thacker of miteshthacker. com

Delta Corp Ltd is a ‘SELL’ call with a target of Rs 65 and a stop loss of Rs 73.75

Hindustan Unilever Ltd is a ‘BUY’ call with a target of Rs 404 and a stop loss of Rs 381.50

Indraprastha Gas Ltd is a ‘BUY’ call with a target of Rs 385 and a stop loss of Rs 363

Hindustan Oil Exploration Company Ltd is a ‘SELL’ call with a target of Rs 118 and a stop loss of Rs 130.50

NTPC Ltd is a ‘BUY’ call with a target of Rs 188 and a stop loss of Rs 174.50

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