The S&P BSE Sensex and NSE Nifty 50 benchmark indexes shrugged off early weakness in late morning deals on Wednesday. The 30-scrip Sensex index rose as much as 148.51 points to touch 39,279.55 at the day's strongest level, and the NSE Nifty benchmark hit 11,703.80, climbing up 41.2 points from its previous close. While gains in financial and consumer goods stocks supported the markets, losses in automobile and energy counters limited the upside. Analysts awaited earnings announcements from large cap companies such as Wipro and Yes Bank.
At 11:37 am, the Sensex traded 141.63 points - or 0.36 per cent - higher at 39,272.67, while the Nifty was up 43.60 points - or 0.37 per cent - at 11,706.20. Top percentage gainers on the 50-scrip index at the time were UPL, Kotak Bank, HCL Tech, Zee Entertainment and Tech Mahindra, trading between 1.83 per cent and 2.85 per cent higher. Kotak Bank, HDFC Bank and State Bank of India (SBI) contributed the most to the advances in Sensex.
Here are few trading tips (top stock picks) from brokerage Choice Broking:
Buy Torrent Pharma
The brokerage has recommended a "buy" call on Torrent Pharma July futures at Rs 1,584 for a target price of Rs 1,656 with stop loss at Rs 1,548. On a daily chart, the stock is trading above its "neckline of inverted head and shoulder formation" and it seems that the stock may even give a close above the same which indicates a robust upside movement in the counter, the brokerage said in a note.
Buy Graphite India
Choice Broking has recommended a "buy" call on Graphite India at Rs 303.65-301.00 for a target price of Rs 332 with stop loss at Rs 291. The stock has been sustaining above its 21 hourly exponential moving average which shows a positive move in the counter, according to the brokerage.
It has a "buy" call on Havells July futures at Rs 724.50-728.15 for a target price of Rs 765.00 with stop loss at Rs 710.00. The brokerage expects a "good upside movement" in the counter in next few trading sessions based on its technical structure.
Buy Sterlite Technologies
Choice Broking has assigned a "buy" call on Sterlite Technologies at Rs 166.00 for a target price of Rs 176.00 with stop loss at Rs 161.00.
Buy Axis Bank
The brokerage has a "buy" call on Axis Bank at Rs 761.50-756 for a target price of Rs 800 stop loss at Rs 742.
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Disclaimer: Investors are advised to make their own assessment before acting on the information.
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