The Indian equity benchmarks were trading marginally lower on Tuesday with Sensex declining 69 points and Nifty 50 index hovering around its important psychological level of 17,700. In yesterday's session the benchmarks broke their 9-day winning streak on the back of disappointing earnings posted by index heavyweight Infosys post market hours on Thursday.
"Indian markets are currently in a consolidation zone given strong outperformance to global peers last year, rising global headwinds, benign domestic demand environment and uncertainty on monsoons (El-Nino expectations) in the current year. Global markets have recovered from November lows despite crisis in the banking system amidst rising interest rates, slowing global growth and sustained geo political uncertainties," brokerage firm Prabhudas Lilladher said in a research note.
Buy Escorts: Nirmal Bang’s Swati Hotkar has recommended buying Escorts from 1-2 days perspective above Rs 2,002 for target of Rs 2,060 with stop loss at Rs 1,970.
Buy Biocon: Nirmal Bang's senior technical analyst Vikas Salunkhe has recommended buying Biocon from 1-2 days perspective above Rs 228.40 for target of Rs 242 with stop loss at Rs 223.
Buy Gujarat Gas: Nirmal Bang's technical analyst Ayush Mehta has recommended buying Gujarat Gas above Rs 475 for target of Rs 490 with stop loss at Rs 468.
Sell ICICI Bank Futures: Nirmal Bang's senior technical analyst Vikas Salunkhe has recommended selling ICICI Bank Futures below Rs 902.40 with stop loss at Rs 915 for target of Rs 870.
Buy TCS 3,100 Put Option: Nirmal Bang's Nirav Harish Chheda, AVP derivatives & technical research has recommended buying TCS' 3100 strike price put option above Rs 23 with stop loss at Rs 6 and target of Rs 70.
(Disclaimer: Readers are advised to consult their financial consultants before placing any trade. Outlook Business will not be responsible for any profit/loss arising out of the trades mentioned above)
