Buy Reliance Industries, BHEL; Sell Axis Bank: Aditya Agarwal

Overall trend for Nifty is looking weak but will not advise creating fresh short positions at current levels, says Aditya Agarwal, head technical research at Way2Wealth. In the short term, there can be a pullback towards 8,050-8,100 levels and those levels will be good levels to create fresh short positions in the Nifty, added Mr Agarwal. 

Stock Talk
Buy Reliance Industries: The stock can go up to Rs 1,030 in the near term and traders can buy RIL with stop loss at Rs 970.

Buy BHEL: The stock has strong support around Rs 127-128 and traders can buy this stock for target of Rs 135-140 with stop loss at Rs 126.

Sell Axis Bank: Traders can go short on Axis Bank or target of Rs 450.

NTPC: Buying is visible in NTPC at lower levels and dips towards Rs 140 can be used to buy this stock for target of Rs 195-196.

Ashok Leyland: Investors with a long-term time horizon can buy Ashok Leyland around Rs 70-68 for target of Rs 95-96.

Disclaimer: Investors are advised to make their own assessment before acting on the information.
 

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