Buy Dish TV, Colgate; Sell Jubilant FoodWorks, Just Dial: Sumeet Bagadia
Nifty can move above levels of 7,800, but considering the derivatives expiry is scheduled later in this week, some volatility is expected, says Sumeet Bagadia, associate director of Choice Broking. On the downside 7,680 on Nifty should act as an important support level and on the upside if the NSE benchmark moves above 7,800, then the Nifty can test levels of 7,850-7,900, he added. (Watch video)
Stock Talk
Buy Dish TV: The overall trend for the stock is bullish. Investors can buy this stock at current levels for immediate target of Rs 92 with stop loss at Rs 78.
Buy Zee Entertainment: The stock is looking strong on charts and it has given a good upside move from Rs 380 to 450. Investors can buy Zee Entertainment at current levels or at a correction till Rs 435 with stop loss at Rs 428 for immediate target of Rs 450-Rs 470.
Buy Colgate-Palmolive: The stock is finding support around Rs 800 and till the time 800 is not taken away, investors who are holding long positions should continue to do so. On the upside, the stock faces resistance around Rs 850. Investors can buy this stock on dips around Rs 820 with stop loss at Rs 800 for target of Rs 850.
Buy Shriram Transport Finance: The stock is looking good on charts and investors can buy this stock around Rs 1,150 for target of Rs 1,250 with stop loss at Rs 1,110.
Sell Just Dial: The stock is looking weak on charts. Investors can sell Just Dial with stop loss at Rs 725 for initial target of Rs 600 and if Rs 600 is taken out on downside then it can go down to levels of Rs 550.
Sell Jubilant FoodWorks: More downside is still left for this stock and it can go down to levels of Rs 960-980 again. Bullish move will be seen only if this stock sustains above Rs 1,190-1,200. Investors should avoid going long rather traders can go short on this stock with stop loss at Rs 1,100 for target of Rs 980-960.
