Trading Calls: Buy Axis Bank, Bajaj Auto, Says Expert


Indian shares started Thursday’s session on a positive note, with the BSE benchmark index Sensex gaining more than 100 points to 31,946 and the NSE Nifty adding 36 points to trade above 10,000. Gains were led by energy, pharma, IT and realty shares – rising between 0.7 per cent and 1 per cent – and came a day after the markets snapped a three-session winning streak. In early morning deals, Bharti Infratel, Sun Pharma, Hindalco Industries, Tech Mahindra and GAIL India were the top Nifty 50 gainers – up between 1.2 per cent and 4.5 per cent. Domestic shares also took support from the other Asian markets, where equities were near a decade-high riding the bull run in global equity markets.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose to its highest since December 2007. Japan’s Nikkei was up 0.5 per cent after brushing 20,980.92 – its highest since December 1996. South Korea’s KOSPI added 0.2 per cent to mark a fresh record peak. Hong Kong’s Hang Seng scaled a decade-high before dipping 0.05 per cent. In the US, Wall Street rose to yet another set of record closing highs overnight following a report that a market-friendly candidate was being pushed as successor to Janet Yellen at the helm of the Fed.

Market expert Lovelesh Sharma shared his trading calls:

Buy Axis Bankon dips for a target price of Rs. 540 with stop loss at Rs. 500

Buy Bajaj Auto for a target price of Rs. 3,300 with stop loss at Rs. 3,090