BSE Sensex and Nifty edged lower on Monday amid weak Asian markets. The Sensex fell over 100 points while Nifty was below 9,650. Asian stocks fell on Monday, following a Friday slide in US tech shares and caution ahead of this week's U.S. Federal Reserve policy meeting. The Fed will begin a two-day meeting ending on Wednesday at which it is widely expected to hike interest rates. The focus is on whether the Fed thinks the US economy is robust enough to withstand further rate increases through 2017 and how it plans to whittle down its massive balance sheet. Meanwhile, market analysts Lovelesh Sharma and Simi Bhaumik share their short-term trading picks.
Lovelesh Sharma of Epic Research
Buy Ashok Leyland at current market price with target at Rs 100 and stop-loss at Rs 92
Buy Kaveri Seed at current market price with target at Rs 690 and stop-loss at Rs 650
Simi Bhaumik, market analyst
Buy Apollo Hospitals on dips with target at Rs 1372-1392 and stop-loss at Rs 1,338
Buy Asian Paints on dips with target at Rs 1,165-1182 and stop-loss at Rs 1,140
Disclaimer: Investors are advised to make their own assessment before acting on the information.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
