Buy or Sell? Check Anil Singhvi's view on SAIL, Coforge, Tech Mahindra and others
Benchmark equity indices Sensex and Nifty tumbled in early trade on Wednesday after a record-breaking rally, tracking extremely weak trends from the global markets.
Anil Singhvi's view
Amid This, Zee Business Managing Editor Anil Singhvi has advised selling five intraday stocks - SAIL Futures, Coforge Futures, JSW Steel Futures, Tech Mahindra Futures and LTTS Futures.
Check targets and stop loss below:
Sell SAIL Futures
Sell SAIL Futures
Stop Loss - Rs 135; Target - Rs 127, Rs 125
Sell JSW Steel Futures
Sell JSW Steel Futures
Stop Loss - Rs 946; Target - Rs 921, Rs 911, Rs 901
Sell JSW Steel Futures
Sell JSW Steel Futures
Stop Loss - Rs 946; Target - Rs 920, Rs 911, Rs 901
Metals are weak
Singhvi said that metals are weak in global markets for the fourth consecutive day and therefore it is better to sell them.
Sell LTTS Futures
Sell LTTS Futures
Stop Loss - Rs 5,800; Target - Rs 5,700, Rs 5,645, Rs 5,630
Sell Tech Mahindra Futures
Sell Tech Mahindra Futures
Stop Loss Rs - 1670; Target Rs 1,635, Rs 1,620, Rs 1,610
IT stocks remain under pressure
According to Anil Singhvi, IT stocks remain under pressure due to global markets.
NSE, BSE today
Meanwhile, The 30-share BSE Sensex tumbled 721.75 points to 81,833.69 after a weak beginning to the trade. The NSE Nifty tanked 196.05 points to 25,083.80.
Among the 30 Sensex firms, JSW Steel, Infosys, Larsen & Toubro, State Bank of India, Tata Steel, Mahindra & Mahindra, Bharti Airtel and Axis Bank were the major laggards.
Asian Paints, Bajaj Finserv, Bajaj Finance, and Hindustan Unilever were the gainers.