The markets appear to be in an indecisive phase with the Nifty trading in a range of 8,710-8,810, says Imtiyaz Qureshi, co-founder and director of Investeria Financial Services. The Nifty may rise towards 8,850-8,900 levels around derivatives expiry, led by IT and pharma sectors which are giving "good indications", he adds.
Stock talk
Buy Cadila Healthcare: The stock is displaying positive momentum after taking outs its previous highs. Some profit-booking may occur on the higher side but investors can look at buying Cadila Healthcare on declines for immediate targets around Rs 430 and then 450.
Avoid Tata Motors: After a recent selloff, the stock is showing signs of consolidation with good support at Rs 428. Investors may wait for some positive signs before taking long positions in Tata Motors.
Buy Infosys: A positive momentum appears to have started in IT stocks which may continue going forward. One can buy Infosys shares at current market price for a target of Rs 1,050-1,060 in the near term and Rs 1,100 afterwards.
Buy Hexaware: The stock has given a breakout above its previous top and looks positive. Buying at current levels is advisable for a target of Rs 240-250 over one month with stop-loss at Rs 206.
Buy Wipro: A positive momentum seen in the stock over the past few trading sessions is likely to continue going ahead. Investors may look at buying for a target of Rs 535, with stop-loss at Rs 465.
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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