Trading Calls: Buy Bharat Forge, Tata Steel, Ashok Leyland, Says Expert

This week, volatility in global stock markets, along with macro-economic data points, is expected to influence the domestic market movement, say analysts.

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Trading Calls: Buy Bharat Forge, Tata Steel, Ashok Leyland, Says Expert

On Friday, the NSE Nifty closed 121 points lower at 10,454


The stock markets are likely to start Monday's session on a positive note, with the SGX Nifty on Singapore Exchange trading 30.50 points higher at 10,487.50. Shares in the other Asian markets except Japan saw mild gains. China's Hang Seng was up 0.47 per cent and Shanghai Composite up 0.62 per cent. South Korea's KOSPI was trading 0.90 per cent. Japanese markets were closed for a national holiday. Last Friday, on Wall Street, the S&P 500 rose 1.5 per cent. The Dow Jones Industrial Average closed 1.38 per cent higher while the Nasdaq Composite rose 1.44 per cent. With that, US stocks ended the week with a burst of buying but still recorded their worst week in two years, and investors braced for more volatile trading days ahead.

On Friday, the BSE Sensex closed 407 points lower at 34,005 and the NSE Nifty shed 121 points to settle at 10,454. This week, volatility in global stock markets, along with macro-economic data points, is expected to influence the domestic market movement, say analysts. "The markets...will focus on earnings, macro-data and, of course, global cues," Devendra Nevgi, founder and principal partner, Delta Global Partners, told news agency IANS (Indo-Asian News Service).

Simi Bhaumik, research analyst, shared her trading picks:

Buy Bharat Forge for a target price of Rs 780 with stop loss at Rs 748

Buy Ashok Leyland for a target price of Rs 141 with stop loss at Rs 130

Buy Tata Steel for a target price of Rs 705 with stop loss at Rs 670

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



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