In terms of markets, yes, today it seems like 21,900 is that mark that everyone is keeping an eye out on right now. What are you seeing in terms of the markets both the benchmark indices as well as the broader markets?
I think if we look at the charts, then probably the data is such that it is suggesting a red signal for the market. 21,900 could act as resistance for the market and we can see some correction going forward.Tell us your top recommendations as well.
So, my top recommendations are from pharma space which is doing quite well because financials seem pretty overextended. Right now, the baton is in hands of Nifty Pharma index which is inching up very beautifully without much resistance and much speed breakers.
So, my first buy is from Biocon which is buy at 296.15, price has inched up a little bit. Stop loss can be kept at 275, target can be Rs 320 to Rs 340.
Second one is Sanofi India, which is buy at Rs 9036. Rs 8300 is the stop loss and Rs 9700 to Rs 10,000 is the target.
And the third one is Power Grid. I think Nifty Energy Index is pretty overextended and overbought, so I see sell over there. So, it is a sell at Rs 273.50, Rs 290 is stop loss, and Rs 250 to Rs 230 is the target.
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