Stock markets have been consolidating for the last several weeks, leaving analysts guessing about the possibility of a break out or break down from the current range. The Nifty has support around 8,550 levels, said Gaurav Bissa of LKP Securities.
Stock Talk
Buy Reliance Industries: The stock is looking good on charts. Buy RIL with stop loss at Rs 1,035 for target of Rs 1,070-1,100-1,120.
Buy Just Dial with stop loss at Rs 498 for target of Rs 530.
Buy United Breweries: The stock is looking good on charts. Buy United Breweries with stop loss at Rs 812 for target of Rs 845.
Buy Aditya Birla Nuvo above Rs 1,305 with stop loss at Rs 1,290 for target of Rs 1,350-1,360.
Avoid Lupin: The stock has been weak for some time now. It can go down to its support zone of Rs 1,420. It is best to avoid Lupin at current levels. Investors can look to buy this stock around Rs 1,420.
Short Tata Elxsi futures at higher levels for target of Rs 1,520 with stop loss at Rs 1,610.
Axis Bank: The stock can re-test Rs 600 and if it sustains above Rs 600 it can further move up by 3-4 per cent.
Buy BHEL: The stock has formed a base around Rs 130-135 and it can go up to Rs 148 in next 3-4 trading sessions.
Sell Infosys: Short positions are getting built and investors can go short on Infosys for target of Rs 960-970 with stop loss Rs 15-20 above the current market price.
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