Nifty50, Sensex top gainers and losers: Buy Nestle India for short term, positional term gains; Sell on rise recommended in NTPC

Indian stock markets continued their winning streak for the fourth straight day as the benchmarks ended Wednesday in the green. While the BSE Sensex closed at 59,107.19 and was up by over 146.59 points or 0.25 per cent from the Tuesday closing price, the Nifty50 index settled at 17512.25, up by 25 points or 0.14 points. In the 30-stock Sensex, 10 shares gained while remaining 20 were the losers. As for the 50-share Nifty50, 18 advanced and 32 declined. Technical Analyst Nilesh Jain picks two stocks among the top gainers and losers to give his startegy. He is Lead Derivative and Technical Research at Centrum Broking.    

Sensex Top Gainers:

1) Nestle India shares ended at Rs 19800, up 2.14 per cent from the Tuesday closing price.

2) ITC ended at Rs 347.40, up 2.10 per cent on the BSE from the Tuesday closing price.

3) Axis Bank Shares ended at Rs 832, up 1.97 per cent on the BSE from the Tuesday closing price.

4) HDFC Shares ended at Rs 2375, up 1.86 per cent on the BSE from the Tuesday closing price.

5) Reliance INdustries Shares ended at Rs 2494.20, up 1.78 per cent on the BSE from the Tuesday closing price.

Sensex top Losers:

1) SBI Shares ended at Rs 553.50, down 1.59 per cent on the BSE from the Tuesday closing price.

2) Bajaj Finserv Shares ended at Rs 1699.35, down 1.54 per cent from the Tuesday closing price.

3) NTPC shares ended at Rs 164.60, down 1.41 per cent from the Tuesday closing price.

4) HCL Technologies Shares ended at Rs 996.50, down 1.30 per cent from the Tuesday closing price.

5) Dr Reddy's Laboratories Shares ended at Rs 4310.15, down 1.12 per cent from the Tuesday closing price.

Nifty50 Top Gainers:

1) Nestle India Shares ended at Rs 19800, up 2.13 per cent on the NSE from the Tuesday closing price.

2) ITC Shares ended at Rs 347.20, up 2.03 per cent on the NSE from the Tuesday closing price.

3) HDFC shares ended at Rs 2377, up 1.94 per cent on the NSE from the Tuesday closing price.

4) Reliance Industries Shares ended at Rs 2496, up 1.83 per cent on the NSE from the Tuesday closing price.

5) Axis Bank Shares ended at Rs 831.15, up 1.81 per cent on the NSE from the Tuesday closing price.

Nifty50 Top Losers:

1) JSW Steel Shares ended at Rs 625.30, up 1.80 per cent from the Tuesday closing price.

2) NTPC Shares ended at Rs 164.20, up 1.65 per cent from the Tuesday closing price.

3) Bajaj Finserv shares ended at Rs 1699.50, up 1.55 per cent from the Tuesday closing price.

4) SBI Shares ended at Rs 553.75, up 1.55 per cent from the Tuesday closing price.

5) Coal India Shares ended at Rs 238.15, up 1.47 per cent from the Tuesday closing price.

Nestle India: Buy | LTP: Rs 19800 | Target: Rs 20200 | Stop Loss 19400 | Upside 14% | 3-4 months

Nestle India was the biggest gainer on Wednesday and was up nearly 2 per cent or over Rs 415 in day's trade. Jain said that he was bullish on this stock from near and positional term basis. Buying is recommended at current levels and on declines. The near term target price is Rs 20200 while the positional term target is Rs 22500. 

 Source: BSE

NTPC: Sell | LTP: Rs  164 | Target: Rs 160 | Stop Loss 170 | Downside 3%

Sell on rise is recommended for investors who have a 5-7 day view on this stock, Jain said. For others, they may exit if the stock falls below Rs 160.

 Source: BSE

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)