Indian shares are likely to open on a weak note on Monday tracking subdued global markets. Nifty futures traded on Singapore Exchange, was down 0.36 per cent at 9,986. Domestic brokerage Angel Broking says Nifty is likely to face resistance at 9,990, which is the 61.8 per cent retracement of the recent corrective move from 10,179 to 9,687. Meanwhile, 9,880 is likely to act as an crucial support for Nifty in case of any correction, the brokerage added. Meanwhile, relaxations announced by the government on Friday on GST front, are likely to act as a sentiment booster, analysts say.
Here are some trading calls recommended by market expert Simi Bhaumik:
Simi Bhaumik, research analyst
Buy Bharat Forge for a target of Rs 665 with stop loss at Rs 647.30
Buy Escorts for a target of Rs 720 with stop loss at Rs 697.20
Buy Gail India for a target of Rs 465 with stop loss at Rs 447
Buy Hindalco Industries for a target of Rs 256 with stop loss at Rs 247
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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