Daily Market Tips

Wednesday, 18 November

• The market opens on a sluggish and soft note. Earlier, the US markets ended off the day's low while Asian markets have opened marginally in the green and are trading quiet. Sensex is trading at 16994, down 56 points from its previous close, and Nifty is at 5045, down 16 points. CNX Midcap index is up 0.2% and BSE Smallcap index is up 0.3%. The market breadth is positive with advances at 454 against declines of 276 on the NSE.
• Sell DLF at Rs 383 with target of Rs 361 and stop loss of Rs 389. The stock last traded at Rs 377.80, down 2% on the BSE. 
• Buy Wockhardt with intra-day target of Rs 190 and stop loss of Rs 181. The stock last traded at Rs 183.15, down 3.2% on the BSE. 
• Buy XL Tele with intra-day target of Rs 44 and stop loss of Rs 39. The stock last traded at Rs 39.35, up 4.9% on the BSE. 
• Buy HUL at Rs 276 with intra-day target of Rs 283 and stop loss of Rs 272. The stock last traded at Rs 276.35, up 0.7% on the BSE.  
• The trend in the market is upward and my next target for the Nifty is 5125 with stop loss at 4890.  
• The Nifty could be heading towards 5200 and there is good short-term support for it between 5000-5020. Buy Infosys with target of Rs 2500 plus and stop loss of Rs 2350.The stock last traded at Rs 2396.75, up 2% on the BSE.  
• The trend in the market is positive and traders should use all intra-day dips and lower levels to buy. Buy at around 5000 and booking profits at 5075-5100 levels.