Buy Anant Raj Industries, Bajaj Auto, Avoid TCS, Yes Bank: Ruchit Jain

Buy Anant Raj Industries, Bajaj Auto, Avoid TCS, Yes Bank: Ruchit Jain
The Nifty, which faces resistance close to 9,000 levels, will likely consolidate between 8,840 and 9,000, says Ruchit Jain, equity technical analyst at Angel Broking.

Stock Talk

Buy Bajaj Auto: The stock is forming higher top and higher bottom formation on charts and the positive momentum is likely to continue. The stock in the near term can go up to Rs 3,160-3,170 levels.

Buy Hero MotoCorp: It is forming higher top and higher bottom formation and it can go up to Rs 3,800-3,850 in the near term.

Avoid TCS: The stock is underperforming and there are no signs of reversal. Investors should avoid bottom-fishing and stay away from this stock.

Avoid Yes Bank: The stock has fallen from its resistance level of Rs 1,450 and it can correct further. Meanwhile, the stock has support at Rs 1,315 and if it breaks that level then it can go down to Rs 1,270. Investors should avoid this stock at current juncture.

Buy ONGC on dips, when the stock corrects to Rs 235-236.

Buy Anant Raj Industries: The stock is looking good on charts and investors can buy this stock with stop loss below Rs 55 for target of Rs 66.

Buy BHEL on dips around Rs 145 with stop loss below Rs 135 for target of Rs 161-162.

Tata Motors: The stock is going through a phase of time correction and traders who were long at lower levels should book profits.

 

 

 
[“source-ndtv”]