Technical Views | Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com suggests buying L&T Finance Holdings with stop loss at Rs 137 and target of Rs 142, ICICI Bank with stop loss at Rs 353 and target of Rs 363 and TCS with stop loss at Rs 1950 and target of Rs 2030.

The firm Asian cues and buying in technology stocks helped the market close higher on November 28 but the Nifty50's failure to hold on to its 200-DMA due to profit booking at higher levels indicated that traders turned cautious ahead of expiry of November futures & options contracts on November 30.

The 30-share BSE Sensex was up 203.81 points at 35,716.95 and the 50-share NSE Nifty rose 43.30 points to 10,728.90, but the broader markets underperformed frontliners with the Nifty Midcap index falling nearly a percent on weak breadth.

About three shares declined for every share rising on the NSE. The Nifty IT index rallied 2.9 percent while other major sectoral indices either closed flat or in a negative terrain.

The profit booking at higher levels, and selling & muted trade in major sectors indicated that the market internal picture remained very weak, experts said, adding one can avoid creating fresh longs.

According to Pivot charts, the key support level is placed at 10,699.8, followed by 10,670.8. If the index starts moving upwards, key resistance levels to watch out are 10,757.8 and then 10,786.8.

The Nifty Bank index closed at 26,457.95, up 14.85 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,390.1, followed by 26,322.3. On the upside, key resistance levels are placed at 26,555.3, followed by 26,652.7.

Ashwani Gujral of ashwanigujral.com

Buy IndusInd Bank with a stop loss of Rs 1600, target of Rs 1665

Buy L&T Finance Holdings with a stop loss of Rs 136, target of Rs 148

Buy HDFC with a stop loss of Rs 1900, target of Rs 2010

Buy Mindtree with a stop loss of Rs 865, target of Rs 900

Buy Apollo Tyres with a stop loss of Rs 230, target of Rs 245

Sudarshan Sukhani of s2analytics.com

Buy L&T Finance Holdings with stop loss at Rs 137 and target of Rs 142

Buy ICICI Bank with stop loss at Rs 353 and target of Rs 363

Buy TCS with stop loss at Rs 1950 and target of Rs 2030

Buy Dabur India with stop loss at Rs 405 and target of Rs 425

Buy HDFC Bank with stop loss at Rs 2070 and target of Rs 2150

Mitessh Thakkar of mitesshthakkar.com

Buy Havells India with a stop loss of Rs 662 and target of Rs 685

Buy ICICI Bank with a stop loss of Rs 354 and target of Rs 374

Buy L&T Finance Holdings with a stop loss of Rs 135.5 and target of Rs 145

Buy Reliance Industries with a stop loss of Rs 1139 and target of Rs 1184

Source:  https://www.moneycontrol.com/news/business/markets/technical-views-top-buy-sell-ideas-by-ashwani-gujral-sudarshan-sukhani-mitessh-thakkar-for-short-term-3-3232091.html

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