Nifty Top Gainers, Losers: Analyst recommends strategy on Hindalco, HUL

Indian stock markets ended in the green on Thursday - a day of weekly expiry. The BSE Sensex ended at 58,222.10, up by 156.63 points or 0.27 per cent from the Tuesday closing price. Markets were closed on Tuesday on account of Dussehra Holiday. Meanwhile, the Nifty50 closed at 17331.80, up by 57 points or 0.33 per cent.

Technical Analyst Nilesh Jain picks two stocks to - one each from top five gainers and losers on the NSE to give his strategy. One stock is Hindalco Industries and the other is Hindustan Unilever. 

In the 30-share Sensex, 18 ended in the red while 12 were trading in the green at the closing time.

Sensex Top Losers:

1) Tata Steel shares ended at Rs 103.45, up 2.27 per cent from the Tuesday closing price.

2) Larsen & Toubro Shares ended at Rs 1913.40, up 2.24 per cent on the BSE from the Tuesday closing price.

3) ICICI Bank Shares ended at Rs 885.35, up 2.04 per cent on the BSE from the Tuesday closing price.

4) HCL Technologies Shares ended at Rs 964.45, up 1.98 per cent on the BSE from the Tuesday closing price.

5) Infosys Shares ended at Rs 1454.95, up 1.76 per cent on the BSE from the Tuesday closing price.

Sensex top Losers:

1) Bharti Airtel Shares ended at Rs 788.20, down 2.53 per cent on the BSE from the Tuesday closing price.

2) Hindustan Unilever Shares ended at Rs 2611.90, down 2.08 per cent from the Tuesday closing price.

3) Indusind Bank shares ended at Rs 1200.70, down 1.52 per cent from the Tuesday closing price.

4) HDFC Shares ended at Rs 2316.70, down 1.41 per cent from the Tuesday closing price.

5) Bajaj Finance Shares ended at Rs 7401.20, down 1.18 per cent from the Tuesday closing price.

In the 50-share Nifty50, 27 stocks advanced while 23 declined.

Nifty50 Top Gainers:

1) JSW Steel Shares ended at Rs 675, up 4.94 per cent from the Tuesday closing price.

2) Coal India Shares ended at Rs 233.80, up 4.73 per cent from the Tuesday closing price.

3) Hindalco Industries ended at Rs 412.30, up 4.63 per cent from the Tuesday closing price.

4) Tata Steel Shares ended at Rs 103.35, up 2.17 per cent from the Tuesday closing price.

5) Larsen & Toubro Shares ended at Rs 1910.05, up 2.06 per cent from the Tuesday closing price.

Nifty50 Top Losers:

1) Bharti Airtel Shares ended at Rs 788, down 2.56 per cent on the NSE from the Tuesday closing price.

2) Hindustan Unilever Shares ended at Rs 2612, down 2.10 per cent on the NSE from the Tuesday closing price.

3) HDFC shares ended at Rs 2313, down 1.55 per cent on the NSE from the Tuesday closing price.

4) Indusind Bank Shares ended at Rs 1203, down 1.33 per cent on the NSE from the Tuesday closing price.

5) Divi’s Lab Shares ended at Rs 3730, down 1.33 per cent on the NSE from the Tuesday closing price.   

Hindalco Industries: Buy| LTP: Rs 412| Target: Rs 440| Stop Loss: Rs 700| Upside 7-8%

Jain, who is Assistant Vice President - Lead Derivative and Technical Research at Centrum Broking suggets a Buy on Hindalco Industries shares, expecting a 7-8 per cent upside from current levels. He has a poistional term view on this stock. Buying on decline is recommended as the stock has gained ignificantly over the past two trading sessions. It was up nearly 5 per cent on Thursday.  

Source: NSE

Hindustan Unilever: Buy on Declines| LTP: Rs 2612| Target: Rs 2720| Stop Loss: Rs 2500| Upside 5%

The stock has been witnessing consolidation and investors could expect a 2-3 per cent decline from here. The chart remains positive and a pul back is expected unless it falls below 2500 which is a strong supporting level, Jain said. There is a resistance at levels aroound 2720. The stock hit a 52-week high of Rs 2734 on 3rd October 2022. The weakness appears on the short term basis, he added. He said that FMCG as a sector is seeing some consolidation and one must avoid the stocks in this sector if one is doing it for trading perspective.

(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.)