Stock markets ended Monday's session on a weak note with Nifty closing below its crucial psychological level of 8,550. Meanwhile, NDTV Profit spoke to Aditya Agarwal, head technical research at Way2Wealth, on various stocks.
Stock Talk
Avoid Idea Cellular: Investors should stay away from this stock as it has corrected a lot and overall structure is still weak. Investors can look at it if it goes down to Rs 64-65.
Buy Bharti Airtel: The stock is on a comparatively stronger footing than Idea and investors can buy with a strict stop loss at Rs 280 for target of Rs 320-325 in near term.
Buy Dewan Housing Finance: This stock is in an uptrend and has broken above its resistance of Rs 305. Investors can buy with stop loss at Rs 295 for target of Rs 325-330.
Buy Bajaj Finance: After seeing correction, fresh longs are getting built and investors can buy Bajaj Finance with stop loss at Rs 1,050 for target of Rs 1,150-1,160.
Tech Mahindra: This stock is looking extremely weak and is in a downtrend. Fresh shorts are getting built and it can test Rs 380-375. Traders can go short with stop loss of Rs 425.
Short HDFC Bank: Some weakness is visible in HDFC Bank after moving from Rs 900 to Rs 1,300. Traders can go short for target of Rs 1,200-1,180
Short Punjab National Bank: The stock has broken below its support of Rs 140 and traders can short Punjab National Bank below Rs 135 for target of Rs 120-122.
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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