The S&P BSE Sensex rose more than 200 points while the Nifty50 climbed 22500 levels in the morning trade.
The index is likely to find some resistance around the 22750-22800 levels while on the downside 22300 is likely to act as a crucial support.
“The immediate swing low of the 22350-22300 subzone is likely to provide a firm cushion for any intra-week blip, followed by the 50 DEMA of 22230 and the bullish gap around the 22200 zone,” Sameet Chavan, Head Research, Technical and Derivative – Angel One, said.
“On the higher end, the record-high zone of 22750-22800 seems daunting for the bulls and until we witness a decisive breakthrough, the next leg of rally toward the 23000 mark seems demanding,” he said.“We remain hopeful that broader participation will continue and propel the benchmark to new highs. For the time being, we would remain neutral and the ideal strategy would be to take one step at a time,” recommended Chavan.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:
Expert: Sagar Doshi, Technical Analyst, Research, Nuvama Wealth told ETBureau
United Spirits: Buy| Target Rs 1290| Stop Loss Rs 1165
Torrent Pharma: Buy| Target Rs 2930| Stop Loss Rs 2640
Indian Cements: Buy| Target Rs 238| Stop Loss Rs 214.50
Expert: Kunal Bothra, Market Expert told ETNow
Exide Industries: Buy| Target Rs 488| Stop Loss Rs 460
Voltas: Buy| Target Rs 1520| Stop Loss Rs 1476
HBL Power: Buy| Target Rs 600| Stop Loss Rs 525
Expert: Nooresh Merani, an independent technical analyst told ETNow
Dr Reddy’s Laboratories: Buy| Target Rs 6800| Stop Loss Rs 6250
Crompton Greaves: Buy| Target Rs 360| Stop Loss Rs 315
Delhivery: Buy| Target Rs 550| Stop Loss Rs 440
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)