The markets should open at lower levels tomorrow due to pressure from the global markets which should give us a decent buying opportunity for some stocks in the market. Following would be my top picks:
· Buy Axis Bank around 1280 for a target of 1312; stop loss at 1250
· Short Bharat Forge @ 343.5 for a target of 339; stop loss at 350
· Buy HDFC Bank around 2095 for a target of 2109; stop loss at 2085
· Buy L&T around 1826 for a target of 1850; stop loss at 1799
Most of these stocks could open near their stop loss levels which would tempt me to still buy them and set lower stop loss levels, so I would advise you’ll to do the same. Also, most of these longs are the ones I would like to carry forward to next week for a decent 2% - 6% gain from current levels.
Hope you make good money off these long calls and do not overtrade them.
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