Nilesh Jain, Head AVP-Technical & Derivatives Research (Equity Research), Centrum Broking Ltd., has recommended three stocks for investors to buy. These include Cipla Ltd., Laurus Labs Ltd., and SBI Life Insurance Company Ltd.
"“We expect the consolidation seen yesterday to continue today. There might be another day of downward movement, but overall, it's likely to remain a phase of consolidation.” Jain said on today's market.
Jain suggested buying Laurus Labs at the current market price, with a stop loss at Rs 1,935. Lupin is expected to continue in pullback mode till the Rs 2,000 levels.
Jain's next recommendation is Cipla at the current market price, with a stop loss at Rs 1,540. "Cipla is another pick in the pharma sector. The stock has given a good breakout. We expect a rally to Rs 1,600 to Rs 1,620 on the upside," he said.
Jain also advised buying SBI Life Insurance Co. at the current market price, with a stop loss at Rs 1,825, and target price of a high Rs 1,880 to Rs 1,890. "The stock has been an outperformer. It is a buy on decline," he said.
Jain has recommended sell for Oberoi Realty Ltd. and Zen Technologies Ltd. "In the overall realty space, the structure is looking weak. We have seen the structure break down in the Nifty Realty index. If the Oberoi Realty stock is trading less than Rs 16,80, it is looking weak," he said.
Zen Technologies is another sell call by Jain. "The structure looks weak. But we recommend a sell on rise. From the current levels, it is expected the stock might trade near Rs 1,500 levels in a short to medium perspective," he said.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not those of NDTV Profit. NDTV Profit advises investors to consult with their own financial or investment adviser before taking any investment decision.
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