The Nifty is likely to consolidate between 7,400-7,500 before it goes up to levels of 7,700, says Vishal B Malkan, trading coach at Malkansview. Domestic stock markets are out of the woods and any dip should be taken as a buying opportunity, he added.
Avoid Reliance Industries: It is stuck in a range for many months now and therefore is not a good trading bet.
Buy Reliance Infrastructure: The stock is looking good on charts and investors can buy this stock on dips around Rs 470-475 for targets of Rs 550-575. The stock has potential to go and re-test levels of Rs 600 in the next couple of months.
Exit Just Dial: The stock is not out of the woods yet and any rally of 4-5 per cent should be taken as an opportunity to exit long positions.
Buy Ambuja Cements: The stock has not moved much in the last couple of months and is showing good signs on charts. In the near term, investors can buy this stock for targets of Rs 215-220.
Buy Adani Ports: The stock is looking good on daily and weekly charts. Investors can buy this stock for targets of Rs 245-250 in the next 3-4 trading sessions.
Buy Crompton Greaves: Investors can buy this stock for a return of 10 per cent in the next couple of trading sessions ahead of its split into two different companies.
Avoid Cairn India: The stock can go up to Rs 148-150 in the near term but it is not the right time to invest in this stock from a medium term investment perspective.