'BUY' or 'SELL' ideas from experts for Tuesday, May 15
ET Now spoke to various experts and here's what they have to recommend for today's trade.
By ET Online | Updated:
NEW DELHI: Indian shares are expected to trade lower on Tuesday tracking weakness in Asian markets amid growing concern about Greece's eurozone future as talks on forming a government remain deadlocked.
The Nifty ended in the negative terrain for the fifth straight session, closing near the psychological level of 4,900 on Monday as a higher than expected inflation and worries over the euro zone debt crisis weighed on sentiment.
"Negative data has plagued the Indian markets, starting with a contraction in the IIP numbers and the inflation data now, and created an overall negative sentiment," Sanjeev Agarwal, MD Dynamix Research and Capital Management Pvt Ltd, said. "We expect the market to bottom out at levels around 4,880 on the downside, while a move above 5,200 could take the Nifty higher," he added.
The Nifty future could see support around 4825 levels but, there could be strength only if Nifty futures manage to cross 4970 level,” Rakesh Gandhi, Sr Technical Analyst at LKP Securities Ltd, said.
Krupesh Thakkar, Senior Executive Research, Practical Financial Service, said, "On the broader markets, we expect the Nifty to further go down to the 4,850-4,800 levels and stay in the 4,800-5,200 range for a while."
The Nifty Index now expected to head lower till 4770 with resistance around 4987 in the immediate run.
The Nifty has dropped sharply in the last couple of weeks from 5,280 to near 4,900-odd levels. The momentum indicators are extremely oversold and, hence, a pullback rally is more likely in the short term. Most analysts maintain their view of ‘sell on rallies’ on any up move in markets.
"After closing in the negative for 5 consecutive trading sessions, the Nifty can bounce till the 40-hour moving average (HMA), which would be an opportunity to sell again for lower targets," a Sharekhan report said.
Important results to watch out for today:
Adhunik Metaliks Ltd, Bank of Baroda, BF Utilities Ltd, Cox & Kings Ltd, Cummins India Ltd, Elder Pharmaceuticals Ltd, India Infoline Ltd, JK Tyre & Industries Ltd, MMTC Ltd, Reliance MediaWorks Ltd, Unitech Ltd and Videocon Industries 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
IDFC Ltd is a ‘SELL’ call with a target of Rs 110 and a stop loss of Rs 123
Reliance Industries Ltd is a ‘SELL’ call with a target of Rs 665 and a stop loss of Rs 690
Cummins India Ltd is a ‘SELL’ call with a target of Rs 410 and a stop loss of Rs 440
Dabur India Ltd is a ‘BUY’ call with a target of Rs 115 and a stop loss of Rs 104
Colgate Palmolive India Ltd is a ‘BUY’ call with a target of Rs 1300 and a stop loss of Rs 1170
Fortis Healthcare Ltd is a ‘SELL’ call with a target of Rs 88 and a stop loss of Rs 102
Sandeep Wagle, Founder & MD, APTART Technical Advisory Services
Dena Bank Ltd is a ‘SELL’ call with a target of Rs 75 and a stop loss of Rs 83.50
Orchid Chemicals Ltd is a ‘SELL’ call with a target of Rs 115 and a stop loss of Rs 142
Reliance Industries Ltd is a ‘SELL’ call with a target of Rs 658 and a stop loss of Rs 694
ING Vysya Bank Ltd is ‘SELL’ call with a target of Rs 325 and a stop loss of Rs 348.50
MphasiS Ltd is ‘BUY’ call with a target of Rs 418 and a stop loss of Rs 395
Adani Ports Ltd is ‘SELL’ call with a target of Rs 105 and a stop loss of Rs 119.80
Prakash Gaba, CFT, prakashgaba.com
Jet Airways Ltd is a ‘SELL’ call with a target of Rs 282 and a stop loss of Rs 302
Lanco Infratech Ltd is a ‘SELL’ call with a target of Rs 10.55 and a stop loss of Rs 12.32
(The views and recommendations expressed in this section are the analysts' and do not represent those of EconomicTimes.com)
The Nifty ended in the negative terrain for the fifth straight session, closing near the psychological level of 4,900 on Monday as a higher than expected inflation and worries over the euro zone debt crisis weighed on sentiment.
"Negative data has plagued the Indian markets, starting with a contraction in the IIP numbers and the inflation data now, and created an overall negative sentiment," Sanjeev Agarwal, MD Dynamix Research and Capital Management Pvt Ltd, said. "We expect the market to bottom out at levels around 4,880 on the downside, while a move above 5,200 could take the Nifty higher," he added.
The Nifty future could see support around 4825 levels but, there could be strength only if Nifty futures manage to cross 4970 level,” Rakesh Gandhi, Sr Technical Analyst at LKP Securities Ltd, said.
Krupesh Thakkar, Senior Executive Research, Practical Financial Service, said, "On the broader markets, we expect the Nifty to further go down to the 4,850-4,800 levels and stay in the 4,800-5,200 range for a while."
The Nifty Index now expected to head lower till 4770 with resistance around 4987 in the immediate run.
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The Nifty has dropped sharply in the last couple of weeks from 5,280 to near 4,900-odd levels. The momentum indicators are extremely oversold and, hence, a pullback rally is more likely in the short term. Most analysts maintain their view of ‘sell on rallies’ on any up move in markets.
"After closing in the negative for 5 consecutive trading sessions, the Nifty can bounce till the 40-hour moving average (HMA), which would be an opportunity to sell again for lower targets," a Sharekhan report said.
Important results to watch out for today:
Adhunik Metaliks Ltd, Bank of Baroda, BF Utilities Ltd, Cox & Kings Ltd, Cummins India Ltd, Elder Pharmaceuticals Ltd, India Infoline Ltd, JK Tyre & Industries Ltd, MMTC Ltd, Reliance MediaWorks Ltd, Unitech Ltd and Videocon Industries Ltd.
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Click here for Views & Recommendations
ET Now spoke to various experts and here's what they have to recommend for today's trade:
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Ashwani Gujral of ashwanigujral. com
IDFC Ltd is a ‘SELL’ call with a target of Rs 110 and a stop loss of Rs 123
Reliance Industries Ltd is a ‘SELL’ call with a target of Rs 665 and a stop loss of Rs 690
Cummins India Ltd is a ‘SELL’ call with a target of Rs 410 and a stop loss of Rs 440
Dabur India Ltd is a ‘BUY’ call with a target of Rs 115 and a stop loss of Rs 104
Colgate Palmolive India Ltd is a ‘BUY’ call with a target of Rs 1300 and a stop loss of Rs 1170
Fortis Healthcare Ltd is a ‘SELL’ call with a target of Rs 88 and a stop loss of Rs 102
Sandeep Wagle, Founder & MD, APTART Technical Advisory Services
Dena Bank Ltd is a ‘SELL’ call with a target of Rs 75 and a stop loss of Rs 83.50
Orchid Chemicals Ltd is a ‘SELL’ call with a target of Rs 115 and a stop loss of Rs 142
Reliance Industries Ltd is a ‘SELL’ call with a target of Rs 658 and a stop loss of Rs 694
ING Vysya Bank Ltd is ‘SELL’ call with a target of Rs 325 and a stop loss of Rs 348.50
MphasiS Ltd is ‘BUY’ call with a target of Rs 418 and a stop loss of Rs 395
Adani Ports Ltd is ‘SELL’ call with a target of Rs 105 and a stop loss of Rs 119.80
Prakash Gaba, CFT, prakashgaba.com
Jet Airways Ltd is a ‘SELL’ call with a target of Rs 282 and a stop loss of Rs 302
Lanco Infratech Ltd is a ‘SELL’ call with a target of Rs 10.55 and a stop loss of Rs 12.32
(The views and recommendations expressed in this section are the analysts' and do not represent those of EconomicTimes.com)
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