Focus on auto, reality and infra stocks
image for illustrative purpose
Mumbai After a firm opening, the BSE Sensex failed to gather momentum and closed with modest gain at 50,651.90 points. Ahead of the F&O expiry, the market usually moves in a narrow intra-day range. On Tuesday, we expect the market to remain volatile, as on Monday the index developed a Doji star formation. We can consider the Sensex 30 index to consolidate before heading towards 51,600/51,700 levels.
"Tomorrow, we expect the market to trade in a range of 50,450 and 50,900 levels, however, in the second half, we would see a trending activity in the direction of a break-out of the given trading range. The focus should be on auto, reality and infra stocks," says Shrikant Chouhan, EVP (equity technical research), Kotak Securities.
Stock Picks
- DEEPAKFERT - Above 308 with a target of Rs315 and Stop loss of Rs300. It is trading in a strong uptrend and we have witnessed a breakout in the stock
- CASTROLIND - Above Rs137 with a target of Rs142 and Stop loss of Rs132. It has a support of 8 and 40 EMA.
- GRAPHITE - Above Rs804 with a target of Rs820 and Stop loss of Rs790. The stock is in upward trending channel and is on the verge of a breakout.
- GAIL - Above Rs153 with a target of Rs 162 and Stop loss of Rs145. It has a support of 8 and 40 EMA.
- AUROPHARMA - Above Rs1,022 with a target of Rs1,038 and Stop loss of Rs1,008. It has reversed from the support of 8 EMA. (Source-CapitalVia)
