Indian markets fell in morning trade on Tuesday tracking weak global cues. The S&P BSE Sensex fell more than 200 points while the Nifty50 slipped below the 16,200 mark in the first 15-minutes of trade.
Sectorally, buying was seen in utilities, power, telecom, and oil & gas while selling was visible in metals, consumer durables, and realty stocks.
The rupee hit a fresh record low of 79.55 against the USD in the morning trade.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Ajit Mishra, VP – Technicals, Broking to ET Bureau
Bata India: Buy| Target Rs 1930| Stop Loss Rs 1780
The stock has crossed the resistance zone of major moving averages placed at 100 & 200-EMA and is trading on the verge of a breakout. Traders can look to buy the stock for a target of Rs Rs 1,930.
India: Buy| Target Rs 1620| Stop Loss Rs 1530
Seeing noticeable buoyancy in the FMCG space as well as Colgate-Palmolive we feel that the stock is set for a rally after a marginal pause.
Eicher Motors: Buy| Target Rs 3250| Stop Loss Rs 2930
The stock has witnessed a breakout from a broader consolidation range and short-term traders can look at accumulating the stock for a target of Rs 3250.
NOCIL: Buy| Target Rs 300| Stop Loss Rs 255
The stock has decisively crossed the resistance of 265 with noticeable volumes. Chart indicates momentum is likely to continue. Short-term traders can look at buying the stock for a target of Rs 300.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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