Buy Tata Global Beverages, Tata Communications: Pradip Hotchandani

Pradip Hotchandani, head research at Prudent Broking Services, says the Nifty appears to have entered a phase of consolidation after six months of upmove, wherein the benchmark index rose over 30 per cent. However, the uptrend in Nifty will resume once it breaks its immediate resistance of 8,800, he adds.

Stock Talk

Buy Tata Communications: The stock has been our preferred bet in telecom space. The stock still looks after a big upmove and it can go up to Rs 660.

Buy TVS Motor: The stock achieved our target of Rs 380, but it is still looking good and it can go up to Rs 400-410.

Buy Apollo Tyres: Traders can buy this stock for target of Rs 260.

Buy REC and PFC: Both the stocks consolidated around their support levels and broke out of that range. REC looks good for target of Rs 150. Once PFC takes out the levels of Rs 128, traders can look for target of Rs 158 on this stock.

Avoid ICICI Bank: ICICI Bank needs to cross above its resistance area of Rs 280-285 before its medium term chart turns positive.

Accumulate Axis Bank: After achieving our target of Rs 540-560, the stock corrected sharply. Meanwhile, it is close to its support level of Rs 510 and investor should look to accumulate this stock.

Hold Tata Motors: The stock has staged a decent correction after achieving our target of Rs 580-600. The stock needs to cross Rs 600-610 for the next big upmove. Meanwhile, investors can hold Tata Motors for target of Rs 590.

Buy Tata Global Beverages: The stock has come out of big downtrend and has broken above its important technical level of Rs 147-150. Traders can buy this stock for target of Rs 177 with stop loss at Rs 134.