Investors should buy Nifty around 8,620-8,630 with stop loss at 8,580 for target of 8,700-8,730 in a day or two, says Sumeet Bagadia, associate director at Choice Broking.
Stock Talk
Buy Bank of Baroda: The stock has given a good up move. Buy Bank of Baroda with stop loss at Rs 158 for target of Rs 170-172.
Buy Aurobindo Pharma: The stock has support at Rs 710 and faces resistance around Rs 800-810. Buy this stock on correction around Rs 720-730 with strict stop loss at Rs 710 for targets of Rs 790-800.
Avoid BHEL: The stock is looking weak on charts, so it can correct to Rs 132-130 in next couple of days. Fresh bullishness will be seen only if the stock moves above Rs 145-147. Till the time these levels are not taken out, avoid buying. Any pullback should be used as a selling opportunity for targets of Rs 132-130.
BPCL: The stock can see some more correction and can go down to Rs 1,110-1,120.
Buy Indian Oil: A break above Rs 575-580 can take the stock up to Rs 650. A correction from current levels should be used as buying opportunity for immediate targets of Rs 585 and Rs 650.
Hold IGL: The stock has already given a good up move and looks strong on charts. However, fresh longs are not advisable and those holding the stock should do so for targets of Rs 775-780.
Avoid Idea Cellular: Investors should avoid Idea Cellular at current levels. The stock needs to sustain above Rs 100 for one or two days with good volumes.
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