- by Stocktry Expert
- 14th May 2021
Day Trading Guide For Friday: Cements, PSU Banks and Auto Stocks
Wednesday's session opened lower and closed in the negative territory with a loss of over 1 percent. There was heavy unwinding in long positions of metal stocks, while auto, pharma and midcaps saw selective buying. The index has formed a bearish continuation formation.
However, as the market is range-bound, till Nifty/Sensex does not close below the levels of 14,600/48,400, we could do a pullback towards 14,800/49,000 levels. The market of cements, PSU banks and auto stocks remains strong. You can also buy metal stocks if the market drops to 14,500/48,100 levels.
1. Tech Picks
Suggested by Analyst: Shrikant Chouhan, Executive Vice President - Technical Research
a. Hindalco:
Maintain: BUY
CMP: Rs 398.8
Target price: Rs 410
Stop loss: Rs 392
b. DLF:
Maintain: BUY
CMP: Rs 265.3
Target Price: Rs 275
Stop loss: Rs 260
c. ONGC:
Maintain: BUY
CMP: Rs 115.1
Target price: Rs 119
Stop loss: Rs 112
d. Motherson Sumi:
Maintain: BUY
CMP: Rs 235.9
Target price: Rs 243
Stop loss: Rs 232
2.F&O Strategy
Suggested by Sahaj Agrawal, Head of Research - Derivatives
a. Futures:
Bosch Ltd NSE -2.43 % May Futures: BUY at Rs 14,335;
Stop loss: Rs 13,800
Target price: Rs 14,900
3. Commodity Calls
Suggested by Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities
a. Gold (June)
Exchange: MCX
Buy at 47300/ 47250
TP: 48000/48100
SL: 46900
b. Crude Oil (May)
Exchange: MCX
Sell at 4900/4920
TP: 4750/ 4720
SL: 4980
c. Copper (May)
Exchange: MCX
Sell at 805/808
TP: 790/ 788
SL: 813
d. RM Seed (June)
Exchange: NCDEX
Sell at 7480/ 7450
TP: 7650/ 7700
SL: 7350
