Trading Calls: Buy Union Bank, Capital First, Power Grid, Say Experts

Indian shares opened higher on Friday tracking positive Asian shares. The Sensex gained nearly 90 points while Nifty rose over 20 points to trade above the 9,600 level. Aurobindo Pharma was the top gainer in Nifty up 2 per cent. Elsewhere, other Asian shares were mostly higher today. Nikkei was up 0.77 per cent while Hang Seng traded 0.44 per cent higher. Overnight, US shares fell as selloff in technology stocks deepened. The Dow Jones Industrial Average fell 0.12 per cent, S&P 500 lost 0.28 per cent and the Nasdaq Composite dropped 0.55 percent. Meanwhile, market analysts Ruchit Jain and Simi Bhaumik shared their short-term trading picks.

Ruchit Jain, Angel Broking

Buy Union Bank of India (for 1-2 weeks)for a target of Rs 165 with stop loss at Rs 146.
Buy Power Grid Corporation of India (for 2-3 weeks) for a target of Rs 225 with stop loss at Rs 201.

Simi Bhaumik, Research Analyst

Buy Aurobindo Pharma for a target of Rs 665 with stop loss at Rs 630
Buy Federal Bank for a target of Rs 123 with stop loss at Rs 117.20
Buy Capital First for a target of Rs 742 with stop loss at Rs 710

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