Top 20 trading ideas from ET Now experts for Wednesday, August 1

NEW DELHI: The 50-share Nifty is moving in range with a negative bias on Wednesday amid weak cues from Asian peers and lack of buying support at higher levels.

The market seems to have run out of steam and only reform measures will be able to trigger an upmove, according to dealers. Until then, the market is likely to drift towards the lower end of the trading range.

Uncertain global economic environment, high inflation, poor monsoon and fiscal deficit situation have weighed on the markets. Analysts are of the view that with ‘non-event’ from India’s central bank, next trigger could come from policy reforms from the UPA government.

“The RBI has kept the repo rate and CRR unchanged, which was on expected lines. However, the central bank has tried to give some liquidity boost by reducing the SLR,” Sanjeev Agarwal, managing director at Dynamix Research & Capital Management Pvt Ltd, said.

“I think this creates a platform for cutting interest rates later when inflation eases a bit. It is a neutral move for the market and going forward the market will be governed more by policy announcements by the UPA government,” he added.

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

Ashwani Gujral of ashwanigujral.com

Rural Electrification Corporation Ltd is a ‘BUY’ call with a target of Rs 215 and a stop loss of Rs 188

Power Finance Corporation Ltd is a ‘BUY’ call with a target of Rs 200 and a stop loss of Rs 174

BPCL is a ‘BUY’ call with a target of Rs 380 and a stop loss of Rs 353

Bhushan Steel Ltd is a ‘SELL’ call with a target of Rs 425 and a stop loss of Rs 475

Mitesh Thacker of miteshthacker.com

HDFC Bank Ltd is a ‘SELL’ call with a target of Rs 565 and a stop loss of Rs 591

Adani Enterprises Ltd is a ‘BUY’ call with a target of Rs 195 and a stop loss of Rs 180

Cummins India Ltd is a ‘BUY’ call with a target of Rs 457 and a stop loss of Rs 426

Ambuja Cements Ltd is a ‘BUY’ call with a target of Rs 195 and a stop loss of Rs 178

Sandeep Wagle, founder & MD, APTART Technical Advisory Services

Bata India Ltd is a ‘BUY’ call with a target of Rs 930 and a stop loss of Rs 895

PFC Ltd is a ‘BUY’ call with a target of Rs 187 and a stop loss of Rs 175

Bharti Airtel Ltd is a ‘SELL’ call with a target of Rs 287 and a stop loss of Rs 301

Prakash Gaba, CFT, prakashgaba.com

Adani Enterprises Ltd is a ‘BUY’ call with a target of Rs 193 and a stop loss of Rs 182

Jubilant FoodWorks Ltd is a ‘BUY’ call with a target of Rs 1175 and a stop loss of Rs 1135

Jindal Saw Ltd is a ‘BUY’ call with a target of Rs 582 and a stop loss of Rs 547

Rajat Bose, rajatkbose.com

HDFC Bank Ltd is a ‘SELL’ call with a target of Rs 574 and a stop loss of Rs 585

Bata India Ltd is a ‘BUY’ call with a target of Rs 910 and a stop loss of Rs 893

Sell Nifty August Futures on rallies up to 5,260 with a stop above 5,295 for a target of 5,205, 5,180 and 5,158.

Deepak Mohoni, Director, trendwatchindia.com

McLeod Russel India Ltd is ‘BUY’ call with a target of Rs 338 and a stop loss of Rs 321

Power Finance Corporation Ltd is ‘BUY’ call with a target of Rs 187 and a stop loss of Rs 177

Rural Electrification Corporation Ltd is ‘BUY’ call with a target of Rs 204 and a stop loss of Rs 192

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