Trading Calls: Buy Bajaj Auto, Indian Oil, Arvind Ltd, Say Experts

Indian equity markets opened at record highs on Tuesday with the Nifty rising above the 9,700 for the first time and Sensex gaining over 100 points to a fresh record high of 31,430. IT stocks like TCS, HCL Tech and Infosys led the broader markets with gains between 1 per cent and 3.5 per cent. The IT sub-index of NSE - Nifty IT - was up over 1.5 per cent. Gains were however limited by selling in FMCG stocks - shedding up to 1 per cent. Stocks in other Asian markets were hit by escalating tensions in the Middle East, the impending testimony of the former FBI director, British elections and a European Central Bank meeting this week. Overnight, Wall Street indices slipped between 0.1 percent and 0.2 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.2 per cent, pulling back from a two-year high hit on Monday. Japan's Nikkei dropped 0.5 per cent. South Korean markets were closed for a holiday. However, Chinese shares and Hong Kong shares bucked the trend, rising 0.1 per cent and 0.3 per cent respectively.

Here are some trading calls from experts:

Ruchit Jain, technical analyst, Angel Broking:

Buy Bajaj Auto for a target price of Rs 3,110 with stop loss below Rs 2,770 (2-3 weeks)
Buy Hindustan Petroleum with for a target price of Rs 575 with stop loss below Rs 531 (1-2 weeks)

Lovelesh Sharma of Epic Research:
Buy Indian Oil for a target price of Rs 440 with stop loss at Rs 417
Buy Infosys for a target price of Rs 1,005 with stop loss at Rs 960

Simi Bhaumik, market analyst:

Buy Arvind Ltd on dips for a target price of Rs 403 with stop loss at Rs 386
Buy HDIL on dips for a target price of Rs 96.85 with stop loss at Rs 92.40
Buy Jet Airways on dips for a target price of Rs 512 with stop loss at Rs 489

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