Indian Stock Market Tips-Buy or sell
Buy or sell: Top stock trading ideas by market experts which are good short-term bets
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the target of Rs 90, Axis Bank with the stop loss at Rs 560 and target of Rs 595 and Reliance Nippon Life with stop-loss at Rs 262 and a target of Rs 278.
The Nifty50 after opening sharply higher extended rally as the day progressed and recouped all losses seen in the previous session to end at fresh record closing high on Friday.
The index formed a strong bullish candle on the daily candlestick charts. The renewed trade war tensions between the world's largest economies US and China spooked the market on Thursday.
The Nifty50 after opening on a strong note at 11,297.80 rallied further to hit an intraday high of 11,368 and ended at record closing high of 11,360.80, up 116.10 points.
The sharp rebound after correction indicated the market may be heading for higher levels at around 11,450-11,500 levels but the may see some consolidation before moving towards these levels, experts said.
According to Pivot charts, the key support level is placed at 11,314.2, followed by 11,267.6. If the index starts moving upwards, key resistance levels to watch out are 11,387.7 and 11,414.6.
The Nifty Bank index closed at 27,695.50, up 339.55 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 27,521.47, followed by 27,347.43. On the upside, key resistance levels are placed at 27,796.27, followed by 27,897.04.
Here are the top stock trading ideas which can give good returns in the near term:
AUM Capital
Buy Indo Count Industries with stop-loss at Rs 83 and target of Rs 90
Buy Axis Bank with the stop loss at Rs 560 and target of Rs 595
Buy Reliance Nippon Life with stop-loss at Rs 262 and target of Rs 278
Buy HDFC with stop-loss at Rs 1940 and target of Rs 2020
Buy Godawari Power with stop-loss at Rs 427 and target of Rs 458
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