Ruchit Jain of Angel Broking recommends buying Voltas for target of Rs 460.
Sensex and Nifty turned flat after a positive start in trades today. The Indian stock markets are trading in a narrow band wherein the Nifty is moving in tight range of 9,360 on the upside and 9,270 on the downside. Last week the Nifty closed on a flat note on weekly basis for first time in many weeks. Cyclical shares have driven the recent rally in the stock markets in which the broader Nifty has rallied a whopping 13 per cent since start of this year while defensives like IT and pharma have underperformed. Meanwhile, NDTV Profit spoke to market analysts on their top stock picks.
Ruchit Jain, equity technical analyst at Angel Broking
Buy Mahindra & Mahindra for target of Rs 1,430 with stop loss below Rs 1,230
Buy Voltas with stop loss below Rs 405 for target of Rs 460
Buy ACC for target of Rs 1,700-1,710
Buy Ambuja Cements for target of Rs 263-264
Siddharth Sedani, vice president advisory at Anand Rathi
Buy Supreme Industries target of Rs 1,450
Buy Cadila Healthcare for target of Rs 531
Disclaimer: Investors are advised to make their own assessment before acting on the information.