BSE Sensex and Nifty struggled in early trade on Wednesday amid weak global markets. Gains in IT stocks such as TCS, Infosys and HCL Tech supported the market at lower levels. TS Harihar, chief executive and founder of HRBV Client Solutions Private Ltd, said Nifty has support at 9,000 levels. He expects Nifty to remain rangebound between 9,000 and 9,250. Mr Harihar attributed yesterday's selloff in domestic markets to global factors. Mr Harihar also remains positive on TCS from a long-term perspective. But he does not expect 'fireworks' in TCS stocks in the short term. Meanwhile NDTV Profit spoke to a few analysts who shared their trading strategies.
TS Harihar, chief executive and founder of HRBV Client Solutions (long-term calls)
Buy Kotak Mahindra Bank with target of Rs 1050-1100
Buy HPCL with target of Rs 650
Avinnash Gorakssakar, Head Research of Joindre Capital Services (long-term calls)
Buy Finolex industries with target of Rs 650
Buy NBCC with target of Rs 202
Buy Dewan Housing Finance with target of Rs 460
Buy UPL with target of Rs 785 and stop-loss of Rs 729
Buy Indian Oil with target of Rs 444 and stop-loss of Rs 414
Sell Just Dial with target of Rs 482 and stop-loss 522
Manas Jaiswal of www.manasjaiswal.com
Sell Ashok Leyland with target of Rs 78 and stop-loss of Rs 83.10
Sell Tata Steel with target of Rs 430 and stop-loss of Rs 461
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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