Sensex, Nifty50 top gainers and losers: Will Maruti Suzuki hit target of Rs 10000 in November Series? Why Tech Mahindra is an 'Avoid' for now?

Indian equity markets ended the week on a positive note registering their seventh straight gains on Friday. The BSE Sensex closed at 59,959.85, higher by over 200 points or 0.34 per cent. The Nifty50 settled at 17,786.80, up nearly 50 points or 0.28 per cent.

In the 30-stock Sensex, 20 were gainers at the closing time against 10 losers. In the 50-stock Nifty50, 30 stocks advanced, 19 declined while 1 stock remained unchanged.

Technical Analyst Nilesh Jain picked two stocks – one each from the gainers and losers on the Nifty50 to share his strategy. The stocks selected by Nilesh Jain were Maruti Suzuki and Tech Mahindra.

Top Gainers and Losers on BSE Sensex and Nifty50 

Maruti Suzuki: Buy | LTP: Rs 9,548 | Target: Rs 10000 | Stop Loss: Rs 9200 | Upside 5%

The stock was the biggest gainer on Nifty50 and the prices zoomed after the company announced strong Q2FY23 quarterly results on Friday. The shares were up by Rs 500 or over 5 per cent from the previous closing price. Buying on decline is recommended for a price target of Rs 10000. The view is positional and the stock price target is expected to be achieved in November series, Centrum's Jain said. He said that the stock is placed well on the technical charts. The right level to enter this stock is Rs 9400.

Tech Mahindra: AVOID | LTP: Rs 1,048.75 |  | Stop Loss: Rs 1000 

Jain recommends an 'Avoid' in this stock citing downside in this stock. The stock has been trading sideways. The stock today fell by Rs 27.10 or 2.52 per cent. Investors must look to exit the stock if stop loss is triggered.

(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.)