Buy IndusInd Bank, Infosys; Avoid TCS: Shrikant Chouhan
The way Nifty has taken out important levels like 7,550-7,540 in short span of time indicates that there will be more downside in the stock markets, says Shrikant Chouhan, technical analyst with Kotak Securities.
Infosys has important support around Rs 1,030-1,040, says Mr Chouhan.
More downside in stock markets is likely, says Shrikant Chouhan, technical analyst with Kotak Securities. A rebound is expected given the fact that market is heavily oversold there can be a rebound but post that one more selloff is not ruled out. (Watch)
Buy IndusInd Bank: The stock is stable as compared to other banking shares. Investors can buy the stock if it falls further. It has important support at Rs 910-920. Unless it closes below psychological level of Rs 900, the stock will remain in range.
Avoid TCS: The stock is weak on daily and long term charts. It is very close to its crucial level of Rs 2,300. Breach of Rs 2,300 will trigger liquidation of long positions.
Buy Infosys: The stock is trading in a range. It has important support around Rs 1,030-1,040. One can buy this stock for a target of Rs 1,090-1,080 ahead of results.
Buy Reliance Infrastructure: The stock has important support around Rs 560-570-530. On the higher side, it can go up to Rs 660-700.