Indian stock markets continued their losing streak on Monday. The BSE Sensex ended at 57,147.32, down by 843.79 points or 1.46 per cent from the Monday closing level.  Meanwhile, the Nifty50 index closed at 16983.55, lower by 257 points or 1.49 per cent. In the 30-share Sensex, only two stocks gained while the remaining 28 ended on the losing side. In the 50-stock Nifty50, three stocks advanced while 47 declined.

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Technical Analyst Nilesh Jain picks three stocks - two from top gainers and one from the top five losers on the NSE to give his strategy. He remains bullish on Axis Bank – a stock he recommended on Monday. He also picked Asian Banks for buying while a firm avoid to Nestle India shares.

Sensex Top Losers:

1) Axis Bank shares ended at Rs 103.45, up 2.27 per cent from the Monday closing price.

2) Asian Paints Shares ended at Rs 1913.40, up 2.24 per cent on the BSE from the Monday closing price.

Sensex top Losers:

1) Indusind Bank Shares ended at Rs 1165.45, down 3.70 per cent on the BSE from the Monday closing price.

2) Nestle India Shares ended at Rs 18499, down 3.13 per cent from the Monday closing price.

3) Tata Steel shares ended at Rs 100.30, down 2.86 per cent from the Monday closing price.

4) Infosys Shares ended at Rs 1423.90, down 2.65 per cent from the Monday closing price.

5) HCL Technologies Shares ended at Rs 938.60, down 2.47 per cent from the Monday closing price.

Nifty50 Top Gainers:

1) Axis Bank Shares ended at Rs 785, up 1.05 per cent from the Monday closing price.

2) Adani Enterprises Shares ended at Rs 3274, up 0.85 per cent from the Monday closing price.

3) Asian Paints ended at Rs 3293.55, up 0.48 per cent from the Monday closing price.

Nifty50 Top Losers:

1) Divi’s Laboratories Shares ended at Rs 3500.25, down 5.05 per cent on the NSE from the Monday closing price.

2) JSW Steel Shares ended at Rs 640.40, down 3.84 per cent on the NSE from the Monday closing price.

3) Indusind Bank shares ended at Rs 1164.80, down 3.76 per cent on the NSE from the Monday closing price.

4) Eicher Motors Shares ended at Rs 3408, down 3.50 per cent on the NSE from the Monday closing price.

5) Nestle India Shares ended at Rs 18525, down 3.11 per cent on the NSE from the Monday closing price.  

Axis Bank: Hold| LTP: Rs 740| Target: Rs 800| Stop Loss: Rs 750| Upside 4%

Technica Analyst Nilesh Jain remains bullish on this stock. He had recommended this stock on Monday and recommends a hold in it for the price target of Rs 810. He said that the counter continues to enjoy strength on the technical charts. On Tuesday it ended at Rs 785 on the NSE and was up by over 1 per cent fro the previous closing price.

Source: NSE

Asian Paints: Buy| LTP: Rs 3,293.55 | Target: Rs 3500| Stop Loss: Rs 3200| Upside 7%

The stock ended positively today despite a market rout. Jain, who is Assistant Vice President - Lead Derivative and Technical Research at Centrum Broking said that there has been a base formation around levels of Rs 3200 and hence can be considered as a stop loss. The stock has corrected from the 52-week high of 3590 and is now available at attractive levels. The triggers are festive season ahead of us and correction in crude oil prices, the AVP said. 

Nestle India: Avoid| LTP: Rs 18,525| Target: Rs 17600| Stop Loss: Rs 19000| Downside 5%

Jain recommends an avoid in this counter estimating a 5 per cent downside in the near term. 

(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.)