Stock strategy on Nifty top Gainers, losers - Analyst picks Bajaj Finance, Dr Reddy's Lab as top buys

Indian stock markets ended in green on Tuesday with the BSE Sensex closing at 58,065.47, up by over 1276 points or 2.25 per cent. Meanwhile, the 50-share Nifty50 settling at 17274.30, up by 387 points or 2.29 per cent. In the 30-share Sensex, 27 ended in the green while 3 were trading in the red at the closing time. Forty eight stocks in Nifty50 advanced while the remaining two declined. Market Expert Nilesh Jain picks two stocks - one each from the top gainers and top losers to suggest strategy to investors. The stocks are Bajaj Finance and Dr Reddy's Laoratories. 

Sensex Top Losers:

1) Indusind Bank shares ended at Rs 1217.30, up 5.29 per cent from the Monday closing price.

2) Bajaj Finance Shares ended at Rs 7475, up 4.23 per cent on the BSE from the Monday closing price.

3) TCS Shares ended at Rs 3092.50, up 3.58 per cent on the BSE from the Monday closing price.

4) Bajaj Finserv Shares ended at Rs 1701.50, up 3.37 per cent on the BSE from the Monday closing price.

5) HDFC Shares ended at Rs 2350.55, up 2.96 per cent on the BSE from the Monday closing price.

Sensex top Losers:

1) Power Grid Shares ended at Rs 208.50, down 1.07 per cent on the BSE from the Monday closing price.

2) Sun Pharmaceuticals Shares ended at Rs 942.25, down 0.25 per cent from the Monday closing price.

3) Dr Reddy’s Laboratories shares ended at Rs 4412, down 0.18 per cent from the Monday closing price.

Nifty50 Top Gainers:

1) Indusind Bank Shares ended at Rs 1217, up 5.25 per cent from the Monday closing price.

2) Adani Ports Shares ended at Rs 825.30, up 5.21 per cent from the Monday closing price.

3) Bajaj Finance ended at Rs 7480.50, up 4.30 per cent from the Monday closing price.

4) Coal India Shares ended at Rs 223.70, up 4.07 per cent from the Monday closing price.

5) TCS Shares ended at Rs 3097, up 3.75 per cent from the Monday closing price.

Nifty50 Top Losers:

1) Power Grid Shares ended at Rs 208.80, down 0.95 per cent on the NSE from the Monday closing price.

2) Dr Reddy’s Lab Shares ended at Rs 4414.30, down 0.13 per cent on the NSE from the Monday closing price.

Bajaja Finance: Buy at 7300| LTP: Rs 7475| Target: Rs 7900| Stop Loss: Rs 7100| Upside 6%

The stock ended up 4.23 per cent on Tuesday or higher by 403 points from the Monday closing price. The gains for significant, Jain said adding that the stock must be bought on declines. The stock today closed at 7475 on the BSE. The risk to reward ratio is most favourable at levels around Rs 7300, he further said. 

Source: BSE - Stock Price Movement over 3 months

Dr Reddy's Lab: Buy at 4350| LTP: Rs 4412| Target: Rs 4500/5000| Stop Loss: Rs 4200| Upside 14%

The stock today ended at 4412.00, down by Rs 8.15 or -0.18 per cent from the previous closing price. Jain is bullish on pharma stocks and sees this large cap stock doing well in the near term. He sees a buying opportunity in this stock with price target of Rs 4500. He said that there will be a big brakout once it breaches this level for further upside of Rs 4800-5000. Buy on decline is recommended. 

Source: BSE - Stock Price Movement over 3 months

He also recommends an avoid in Power Grid shares.

(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.)