Nifty50, Sensex top gainers and losers: Buy HDFC, Sell ONGC and Avoid Bajaj Auto, says this analyst

Indian markets ended positively on Friday taking cues from the US markets. The BSE Sensex ended at    57,919.97, up by 684.64 points or 1.20 per cent. In the 30-share index, 20 were trading positively at the closing time while the remaining 10 were in the red. Meanwhile the Nifty50 closed at 17185.70, up by 171 points or 1 per cent from the Thursday closing price.  In the 30-stock index, 30 stocks advanced while 20 declined.

Technical Analyst Nilesh Jain picked three stocks - one from top gainers and two from top losers to give his strategy.

Sensex Top Gainers:

1) Infosys shares ended at Rs 1474.05, up 3.82 per cent from the Thursday closing price.

2) HDFC Bank ended at Rs 1441.10, up 3.40 per cent on the BSE from the Thursday closing price.

3) HDFC Shares ended at Rs 2344.85, up 2.69 per cent on the BSE from the Thursday closing price.

4) HCL Technologies Shares ended at Rs 1002.45, up 2.08 per cent on the BSE from the Thursday closing price.

5) Kotak Mahindra Bank Shares ended at Rs 1834.55, up 1.90 per cent on the BSE from the Thursday closing price.

Sensex top Losers:

1) Wipro Shares ended at Rs 379.10, down 7.03 per cent on the BSE from the Thursday closing price.

2) SBI Shares ended at Rs 521.35, down 2.36 per cent from the Thursday closing price.

3) Larsen & Toubro shares ended at Rs 1876, down 1.85 per cent from the Thursday closing price.

4) ICICI Bank Shares ended at Rs 853.90, down 1.60 per cent from the Thursday closing price.

5) Asian Paints Shares ended at Rs 3211.25, down 1.12 per cent from the Thursday closing price.

Nifty50 Top Gainers:

1) Infosys Shares ended at Rs 1477, up 4.02 per cent on the NSE from the Thursday closing price.

2) HDFC Bank Shares ended at Rs 1446, up 3.76 per cent on the NSE from the Thursday closing price.

3) HDFC shares ended at Rs 2349.80, up 2.91 per cent on the NSE from the Thursday closing price.

4) HCL Technollogies Shares ended at Rs 1003.40, up 2.17 per cent on the NSE from the Thursday closing price.

5) ICICI Bank Shares ended at Rs 872, up 2.16 per cent on the NSE from the Thursday closing price.

Nifty50 Top Losers:

1) ONGC Shares ended at Rs 127.65, up 1.69 per cent from the Thursday closing price.

2) JSW Steel Shares ended at Rs 639.75, up 1.33 per cent from the Thursday closing price.

3) M&M of India ended at Rs 1232.50, up 1.26 per cent from the Thursday closing price.

4) Bajaj Auto Shares ended at Rs 3564, up 1.13 per cent from the Thursday closing price.

5) Adani Enterprises Shares ended at Rs 3201, up 1.01 per cent from the Thursday closing price.

HDFC: Buy | LTP: Rs 2,349.80 | Target: Rs 2450| Stop Loss: 2260 | Upside 5%

Jain, who is Assistant Vice President - Lead Derivative and Technical Research at Centrum Broking recommends a buy in this stock. He said that the stock looks good with a positional term view. Buy at Rs 2300. The stock has been an underperformer in this segment and has limited downside, he further said. 

Source: NSE

ONGC: SELL | LTP: Rs 127.65 | Target: Rs 120| Stop Loss: 133 | Downside 6%

The counter appears week and may decline to levels of Rs 120. Sell on rise is recommended, he said. The trends will change if the level of Rs 133 is breached Rs. The stock corrected by 1.69 per cent today on the NSE. No fresh buying is recommended. 

Source: NSE

Bajaj Auto: Avoid | LTP: Rs 3,564 

Bajaj Auto announced its Q2FY23 results on Friday. The company reported a 20 per cent jump in its net profit aided by higher sales volumes on improved semiconductor supply. Jain said that TVS Motors is a better buy in two-wheeler segment. However, investors having this stock in their portfolios can retain it for the target of Rs 3800-3900. The risk-to-reward ratio is not favourable at current levels and hence the counter can be avoided, he further said.

Source: NSE

(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.)