SmartInvestor : After Friday's stellar rally, Monday has been rather lackluster so far. What are you expecting from benchmark indices in the day ahead. What are the key levels to watch out today?
Ranak Merchant : With BSe SENSEx at 3 year highs and NIFTy nearing 52 week high of 6229 some consolidation is natural. We have been re-iteraing for traders to now keep booking profits in leverage positions and trade light as we head towards the resistance zone. For today levels to watch for would be 6229 Nifty spot.
SmartInvestor : Broader markets are looking firm today. What are your top picks there which could give good returns in the short-term?
Ranak Merchant : We have been bullish on Mid Cap banks and had recommended the same in the last and previous interaction as well. We continue to have a bullish view on them but to avoid repetition one can look at Sugar stocks for a quick bounce as they are showing some traction today. Balrampur Chini for 50, Bajaj Hind for 16 can be quick trading bets. Apart from these one can also look at NCC for 26 and Punjlloyd for 32.
SmartInvestor : How will you suggest trading HDFC and Asian Paints counters ahead of their September quarter earnings scheduled later in the day?
Ranak Merchant : With BSe SENSEx at 3 year highs and NIFTy nearing 52 week high of 6229 some consolidation is natural. We have been re-iteraing for traders to now keep booking profits in leverage positions and trade light as we head towards the resistance zone. For today levels to watch for would be 6229 Nifty spot.
SmartInvestor : Broader markets are looking firm today. What are your top picks there which could give good returns in the short-term?
Ranak Merchant : We have been bullish on Mid Cap banks and had recommended the same in the last and previous interaction as well. We continue to have a bullish view on them but to avoid repetition one can look at Sugar stocks for a quick bounce as they are showing some traction today. Balrampur Chini for 50, Bajaj Hind for 16 can be quick trading bets. Apart from these one can also look at NCC for 26 and Punjlloyd for 32.
SmartInvestor : How will you suggest trading HDFC and Asian Paints counters ahead of their September quarter earnings scheduled later in the day?
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%