Nifty50, Sensex top gainers and losers: Buy TCS, Axis Bank; avoid Tata Consumer Products, analyst says

Indian stock markets ended in the red on Monday amid weaker global cues. The BSE Sensex closed at 57,991.11, down by 200.18 points or 0.34 per cent from the Friday closing level. Meanwhile, the Nifty50 index settled at 17241, lower by 73 points or 0.43 per cent. Technical Expert Nilesh Jain picks three stocks in the top five gainers and losers categories to recommend his strategy.    

In the 30-share Sensex, 19 ended in the red while 11 were trading in the green at the closing time.

Sensex Top Losers:

1) Axis Bank shares ended at Rs 776.75, up 2.76 per cent from the Friday closing price.

2) TCS ended at Rs 3121.20, up 1.84 per cent on the BSE from the Friday closing price.

3) Maruti Suzuki Shares ended at Rs 8865.35, up 2.04 per cent on the BSE from the Friday closing price.

4) Wipro Shares ended at Rs 411.25, up 0.77 per cent on the BSE from the Friday closing price.

5) Infosys Shares ended at Rs 1462.70, up 0.75 per cent on the BSE from the Friday closing price.

Sensex top Losers:

1) Asian Paints Shares ended at Rs 3278.20, down 1.99 per cent on the BSE from the Friday closing price.

2) Titan Shares ended at Rs 2679.60, down 1.86 per cent from the Friday closing price.

3) ITC shares ended at Rs 327.70, down 1.80 per cent from the Friday closing price.

4) Nestle India Shares ended at Rs 19096.55, down 1.16 per cent from the Friday closing price.

5) HDFC Shares ended at Rs 2299.75, down 1.15 per cent from the Friday closing price.

In the 50-share Nifty50, 15 stocks advanced while 35 declined.

Nifty50 Top Gainers:

1) Axis Bank Shares ended at Rs 675, up 4.94 per cent from the Friday closing price.

2) TCS Shares ended at Rs 233.80, up 4.73 per cent from the Friday closing price.

3) HDFC Life ended at Rs 412.30, up 4.63 per cent from the Friday closing price.

4) Wipro Shares ended at Rs 103.35, up 2.17 per cent from the Friday closing price.

5) Eicher Motors Shares ended at Rs 1910.05, up 2.06 per cent from the Friday closing price.

Nifty50 Top Losers:

1) Tata Motors Shares ended at Rs 396.55, down 3.79 per cent on the NSE from the Friday closing price.

2) Tata Consumer Products Shares ended at Rs 758.70, down 2.84 per cent on the NSE from the Friday closing price.

3) Hero MotoCorp shares ended at Rs 2571.75, down 2.03 per cent on the NSE from the Friday closing price.

4) Asian Paints Shares ended at Rs 3280, down 1.91 per cent on the NSE from the Friday closing price.

5) ITC Shares ended at Rs 328.15, down 1.78 per cent on the NSE from the Friday closing price.

TCS: Buy| LTP: Rs 3,124 | Target: Rs 3300| Stop Loss: Rs 2950| Upside 6%

India's IT bellwether today announced its quarterly earnings for the July-September quarter. The company reported 8.4 per cent YoY jump in Q2FY23 net profit; revenue grews by 18 per cent. 

The stock is expected to be in action when markets reopen on Tuesday. The stock today ended up by Rs 59.10 or 1.93 per cent from the Friday closing price. Jain, who is Assistant Vice President - Lead Derivative and Technical Research at Centrum Broking said that the technical structure remains robust. The sector is already beaten-down and one can expect an upside in TCS and other IT sector stocks. The TCS stock has witnessed a double bottom or base formation at levels around Rs 2950. He has a positional view on this counter. Buying is recommended in staggered manner at current levels and decline.

Source: NSE

Axis Bank: Buy| LTP: Rs 778.70 | Target: Rs 810| Stop Loss: Rs 750| Upside 4%

Buying on decline is recommended in this stock. The stock today ended with gains of Rs 23 or 3.04 per cent from the Friday closing price. Jain said that the stock looks well placed on the charts.

Source: NSE

Tata Consumers Products: Avoid| LTP: Rs 778.70 | Target: Rs 810| Stop Loss: Rs 750| Upside 6%

The stock appears weak on the techncal charts, says Jain. He said that a downside up to Rs 740 looks imminent and hence the stock must be avoided. The trend will become positive only when the stock surpasses levels of Rs 780. 

(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.)