Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Hindalco and Infosys are the top stocks to sell today:
Hindalco Sell @ Rs 586 Stoploss at Rs 611; Target Rs 540
Hindalco has broken down a long-term trend line on the higher time frame. On the daily chart, the stock has again resumed the down trend after bouncing back to retest the 40 Daily moving average. Crucial support is at 540 & 510 and resistance is at 611 and 630.
Infosys Sell @ Rs 1,822 Stoploss at Rs 1,896; Target Rs 1,800
Infosys was consolidating in a range between 2000 & 1900 and has now broken the range on the downside with a gap last week. The stock has also retested the 40 Daily moving average and resumed the down trend. Key support is at 1730 & 1680 and resistance is at 1860 and 1900 in the short term.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
