Pharma and energy shares witnessed buying today.
Indian shares opened flat on Wednesday as investors everywhere awaited clarity on the Federal Reserve's future path for US policy after a likely rate rise later in the day. The Sensex rose as much as 80 points to 31,106, while the Nifty added nearly 20 points amid buying in pharma and energy shares. Dr Reddy's Lab was the top gainer in Nifty, up 1.62 per cent followed by Reliance Industries, Power Grid, TCS and Lupin, which were up between 0.6-1.4 per cent. Meanwhile, other Asian shares failed to follow a record closing on Wall Street. The MSCI's broadest index of Asia-Pacific shares outside Japan was up a fraction and Japan's Nikkei ahead by 0.1 per cent. Meanwhile, market analysts Ruchit Jain and Simi Bhaumik share their short-term trading picks.Ruchit Jain, Angel Broking
Buy Mahindra & Mahindra for one-two week with a target of Rs 1,490 and stop loss of Rs 1,388
Buy GE Shipping for one week for a target of Rs 420 with stop loss at Rs 380Lovelesh Sharma of Epic Research
(For 1 week on closing basis)
Buy Fortis Healthcare for a target of Rs 205 with stop loss at Rs 186
Buy Rajesh Exports for a target of Rs 700 with stop loss at Rs 640
Buy Nifty June futures on dips till 9,550 for a target of 9,700 and 9,850 with stop loss at 9,530Simi Bhaumik, research analyst
Buy Dewan Housing for a target of Rs 449 with stop loss at Rs 435
Sell Tata Motors for a target of Rs 442 with stop loss at Rs 455.Disclaimer: Investors are advised to make their own assessment before acting on the information.