The Nifty moved above its important psychological level of 9,550 ahead of expiry of June derivative contracts. The surge in today’s session came after six days of selloff wherein the Nifty fell as much as 1.9 per cent. The benchmark Nifty got a sentimental boost after the Wall Street staged a sharp rally in Wednesday’s session. Wall Street stock rallied sharply on Wednesday with the benchmark S&P 500 index scoring its biggest one-day percentage gain in about two months, as financial and technology stocks led a broad market rebound. Below are some trading ideas from market experts.
Ruchit Jain, equity technical analyst at Angel Broking
Buy Wockhardt Ltd with stop loss at Rs. 554 for a target price of Rs. 636 in 2-3 weeks
Buy TCS in the range of Rs. 2,340-2,325 with stop loss at Rs. 2,290 for a target of Rs. 2,440 in 2-3 weeks
Lovelesh Sharma of Epic Research
Buy Cadila Healthcare on dips with stop loss at Rs. 515 for a target of Rs. 555
Buy Snowman Logistics on dips with stop loss at Rs. 58 for a target of Rs. 67-73