Among individual stocks, the technical & derivative analyst from HDFC Securities recommends to buy Berger Paints.
Stock reaching fresh 52-week highs may further see up to 23 per cent upside
According to the technical analyst, the near-term trading range on the Nifty is 18,149 - 17,760, close above or below would add trigger in the direction.
HDFC Bank's stock to turn bearish only beneath the support of Rs 1,500
The derivative analyst from HDFC Securities suggests to BUY 7,200 Call for January 25 expiry of UltraTech Cement, and simultaneously SELL 7,400 Call of the same series.
According to the technical analyst, a big move on the Nifty is likely once the trading range is dismissed.
The overall sentiment towards the market has remained indecisive and ambiguous, with market participants waiting for a clear direction
According to the technical analyst from Anand Rathi, Hind Petro can surge to Rs 278; while SAIL can advance to Rs 97.
According to the technical analyst, the Nifty Private Bank, PSU Bank and Financial Services indices may extend the pullback in the near term.
In case, the MCX Crude Oil futures fail to hold the support, the commodity could revisit its December lows of Rs 5,850 level.
On the broader market outlook, the technical & derivative analyst from HDFC Securities expects the near term trend on the Nifty to remain bearish as long as the index stays below 18,141.
According to the technical analyst, the if the Bank Nifty fails to hold 41,569 the trend may bearish in the short term.
According to the technical analyst, the if the NSE Nifty 50 benchmark surpasses the resistance a rally to 18,265 seems likely.
According to the technical analyst from Anand Rathi, Laurus Labs can rally to Rs 400; while RateGain can jump to Rs 330.
The overall trend in the IT stocks have remained laggard and continues to bear high risk element.
On the upside, Gold futures can rally to Rs 56,580 during the course of the month.
According to the technical analyst, the IT index is expected to consolidate between 30,600 - 26,300 range.
The derivative analyst from HDFC Securities expects Glenmark Pharma January futues to test Rs 450 on the upside.
According to the technical analyst from Anand Rathi, HDFC Life can jump to Rs 660; while ICICI Prudential Life can rally to Rs 510.
PVR and Inox Leisure stocks must defend key levels to avoid turning bearish, show technical charts