Markets slide over 2%: What traders should 'buy' or 'sell'

NEW DELHI: Benchmark indices plunged over 2 per cent each in afternoon trade on Tuesday, led by profit booking witnessed in rate-sensitive stocks, metals and FMCG stocks.

Tracking the weak momentum, the Nifty index slipped nearly 3 per cent in intraday trade to mark its worst fall since August 16. The index is now trading near its crucial psychological level of 5300.

At the Interbank Foreign Exchange ( Forex) market, the local currency which opened sharply lower at 65, hit fresh record low of 65.70 or nearly 3 per cent against the dollar led by strong month-end dollar demand from importers and a weak opening in the domestic equity market.

At 11:40 a.m.; the partially convertible rupee was trading at 65.64, down 134 paise, against its previous close of 64.30 on Monday.

At 11:45 a.m.; the 50-share index Nifty was at 5,328.25, down 147 points or 2.7 per cent. It touched a high of 5,427.40 and a low of 5,312.75 in trade today.

The S&P BSE Sensex was at 18,075.94, down 482 points or 2.58 per cent. It touched a high of 18,460.72 and a low of 18,034.04 in trade today.

ET Now spoke to various experts for their top 20 ideas for today:

Ashwani Gujral of ashwanigujral.com

Infosys Ltd is a ‘BUY’ call with a target of Rs 3120 and a stop loss of Rs 3030

IndusInd Bank Ltd is a ‘SELL’ call with a target of Rs 345 and a stop loss of Rs 352

HDFC Bank Ltd is a ‘SELL’ call with a target of Rs 565 and a stop loss of Rs 600

Karnataka Bank Ltd is a ‘SELL’ call with a target of Rs 66 and a stop loss of Rs 78

Mitesh Thacker of miteshthacker.com

Adani Enterprises Ltd is a ‘SELL’ call with a target of Rs 140 and a stop loss of Rs 155

Raymond Ltd is a ‘SELL’ call with a target of Rs 180 and a stop loss of Rs 196

Cairn India Ltd is a ‘BUY’ call with a target of Rs 330 and a stop loss of Rs 312

Sesa Goa Ltd is a ‘BUY’ call with a target of Rs 175 and a stop loss of Rs 160

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services

IndusInd Bank Ltd is a ‘SELL’ call with a target of Rs 340 and a stop loss of Rs 362

Tata Motors Ltd is a ‘SELL’ call with a target of Rs 280 and a stop loss of Rs 294

Tech Mahindra Ltd is a ‘BUY’ call with a target of Rs 1465 and a stop loss of Rs 1370

Prakash Gaba, CFT, prakashgaba.com

Bharti Airtel Ltd is a ‘SELL’ call with a target of Rs 290 and a stop loss of Rs 305

Coal India Ltd is a ‘SELL’ call with a target of Rs 255 and a stop loss of Rs 269

DLF Ltd is a ‘SELL’ call with a target of Rs 120 and a stop loss of Rs 135

Somil Mehta, Sr. technical Analyst, Sharekhan

Punjab National Bank is a ‘SELL’ call with a target of Rs 420 and a stop loss of Rs 486

Century Textiles Ltd is a ‘SELL’ call with a target of Rs 185 and a stop loss of Rs 230

Jain Irrigations Ltd is a ‘SELL’ call with a target of Rs 46 and a stop loss of Rs 76

Mayank Mehta, Derivatives Analyst, LKP Shares

Ambuja Cements Ltd is a ‘BUY’ call with a target of Rs 180 and a stop loss of Rs 162

Infosys Ltd is a ‘BUY’ call with a target of Rs 3200 and a stop loss of Rs 3010

Axis Bank Ltd is a ‘SELL’ call with a target of Rs 800 and a stop loss of Rs 915



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