The Sensex and Nifty closed at record highs on Monday on hopes that the Reserve Bank of India may go ahead and cut interest rates after consumer inflation eased in April to its lowest in at least five years. Resumption of foreign flows into the Indian equities also boosted the sentiment of stock market participants as last month FIIs were net sellers in Indian markets. Analysts expect Nifty to rally further and in near term they expect Nifty to touch 9,600. Meanwhile, NDTV Profit spoke to Imtiyaz Qureshi, co-founder & director at Investeria Financial Services on his stock strategies and top stock picks.
Stock Talk
Tata Steel: If stock closes above Rs 464 it will indicate that the stock has completed its downward journey.
Yes Bank: Short to medium charts are indicating negative trend for the stock as it made a lower low. Traders who hold positions at lower levels should book profit in this stock on a rally up to Rs 1,550-1,600.
Petronet LNG: The stock is in bullish trend and it can go up to Rs 470-480. Traders should look to buy Petronet LNG on dips.
Kotak Mahindra Bank: Since the stock is trading close to record highs it can soon touch Rs 1,000.
Dr Reddy's Labs: Traders can buy this stock with stop loss at Rs 2,525 for target of Rs 3,400.
HDIL: The stock broke its recent top of Rs 97 and traders can buy HDIL with stop loss at Rs 95 for target of Rs 105.
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