Share to buy or sell: Chandan Taparia recommended three shares for buying and selling today – 11 February | Stock market news

Despite the advantage of global market colleagues, the Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a vigilant note on Tuesday.

Gift Nifty trends indicate a flat-to-positive start for the Indian benchmark index. The gift Nifty was trading around 23,477 levels, a premium of about 17 points from the previous close to the Nifty Futures.

On Monday, the benchmark indices increased the loss for the fourth consecutive season, and the Nifty 50 fell below the level of 23,400.

Sensex 548.39 points, or 0.70%, closed at 77,311.80, while Nifty 50 reduced 178.35 points, or 0.76%, at 23,381.60.

On the option front, Chandan Taparia, Head – Derivatives and Technical, Wealth Management, MOFSL, said that the maximum Nifty call OI (Open Interest) is at 24,000, then 25,000 strikes while the maximum put OI is at 22,500 and 23,000 is the strike.

“Call writing is seen at 23,400, then hitting 24,000 strikes, while writing is seen at 23,100, then 23,400 strikes. The option data suggests a comprehensive trading range between 22,800 to 23,800 regions, while there is an immediate range between 23,200 and 23,600 levels, ”Tapariya said.

Nifty 50 Outlook

The Nifty 50 formed a recession candle on the daily frame, with a long lower shade that indicated pullbacks from support areas. Now Nifty 50 Taparia said that 23,450 areas have to cross 23,550 above 23,450 zones and then 23,700 zones, while support is placed at 23,250.

Bank Nifty Outlook

The Bank Nifty Index saw a good recovery in the last hour of the session on Monday, but the 50,000 zone ended at the loss of about 180 points.

,Bank nifty A small body candle is formed on a daily scale with a long lower shade because the purchase appears at the lower level but the speed is missing in high areas. Now it has to cross 50,000 zone for a bouncing 50,500 and then a level of 50,750, while on negative support is seen at 49,750, then 49,500 zones, “Taparia said.

Chandan Taparia has recommended two shares to buy on 11 February today and a stock to sell. Revows to buy taparia Kotak Mahindra Bank And Tech Mahindra shares today. On the other hand, he advises to sell Colgate Pamolive (India) Stock futures.

Stock to buy or sell

Kotak Mahindra Bank | Buy | target price: 2,060 | Lack closed: 1,910

The stock of Kotak Mahindra Bank is broken by a pole and flag pattern on a daily chart with a large body bullish candlestick, which suggests strength. Taparia said that the ADX line is indicating that the uptrend has the strength to support it.

Taparia advised to buy Kotak Mahindra Bank shares for target price 2,060 Apis, with Stop Loss 1,910.

Tech Mahindra | Buy | target price: 1,775 | Lack closed: 1,665

The price of the Tech Mahindra stock has risen above a declining trendline resistance area, with more than the average trading volume. It has crossed its 50 DEma, which has rapid implications. He said that the stochastic indicator has taken out of the oversold zone and confirmed the top speed.

MOFSL advises to buy analyst Tech mahindra Share for target price of 1,775 episi, maintaining stop loss 1,665.

Colgate Pamolive | Sell ​​| target price: 2,425 | Lack closed: 2,685

The Colgate Palmolive Stock has given a range breakdown on the daily chart below its major support levels and is trading below its major moving average, suggesting the overall trend. Taparia said that the RSI indicator is decreasing, confirming the speed below.

He recommends to sell Colgate Palmolive 27 February Futures for a target price 2,425 appellate and place on a stop loss 2,685.

Disclaimer: The views and recommendations made above are of individual analysts or broking companies, not Mint. We recommend investors to investigate with certified experts before taking any investment decisions.