Nifty50, Sensex top gainers and losers: Axis Banks beats targets convincingly, Hold recommended; Buy UPL
Axis Bank Shares ended at Rs 903.80, up 9.44 per cent from the Thursday closing price and was the biggest gainer today
Indian stock markets ended the week on a winning note. It was the sixth straight gains for equity markets. The BSE Sensex ended at 59,307.15, up by 104.25 points or 0.18 per cent from the Thursday closing level. Meanwhile, the Nifty50 index closed at 17,590.00, higher by 26.05 points or 0.15 per cent. In the 30-share Sensex, 13 stocks gained while the remaining 17 ended on the losing side. In the 50-stock Nifty50, 21 stocks advanced while 29 declined.
Technical Analyst Nilesh Jain picks two stocks - one each from top gainers and losers on the NSE to give his strategy. He remains bullish on Axis Bank and UPL.
Nifty Top Gainers & Loser
Nifty50 Top Gainers:
1) Axis Bank Shares ended at Rs 903.80, up 9.44 per cent from the Thursday closing price.
2) Kotak Bank Shares ended at Rs 1905.25, up 2.24 per cent from the Thursday closing price.
3) ICICI Bank ended at Rs 908.50, up 2.23 per cent from the Thursday closing price.
4) SBI Life ended at Rs 1247.60, up 2.02 per cent from the Thursday closing price.
5) Hindustan Unilever ended at Rs 2647.05, up 1.77 per cent from the Thursday closing price.
Nifty50 Top Losers:
1) Bajaj Finance Shares ended at Rs 7179.75, down 3.40 per cent on the NSE from the Thursday closing price.
2) Adani Ports Shares ended at Rs 799.95, down 3.45 per cent on the NSE from the Thursday closing price.
3) Bajaj Finserv shares ended at Rs 1683.85, down 2.43 per cent on the NSE from the Thursday closing price.
4) Divi’s Laboratories Shares ended at Rs 3568.05, down 2.30 per cent on the NSE from the Thursday closing price.
5) UPL Shares ended at Rs 700.85, down 1.77 per cent on the NSE from the Thursday closing price.
Axis Bank: Hold| LTP: Rs 904 | Target: Rs 950/1000 | Upside 10%
Axis Bank shares have been on a roll and have given good returns to investors. Jain recommended this stock at levels of Rs 785. His advise is to hold the stock for targets of Rs 950 in the near term and Rs 1000 in the positional term. Investors willing to take positions in this stock can buy on declines. The right levels to buy it is Rs 880, Jain said. Todat the stock was up over 9 per cent.
Also Read: Nifty50, Sensex top gainers and losers: Know why analyst recommends a hold on Axis Bank, buy on Asian Paints, avoid on Nestle India?
UP: Hold| LTP: Rs 701| Target: Rs 730 | Stop Loss: 670 | Upside 4%
This is another stock that was previously recommended by Jain. He remains bullish on this stock. Buying on decline was recommended and the stock is at right levels to make entry.
Also Read: Nifty50, Sensex top gainers and losers: Buy UPL on declines; Hold Ultratech Cement, Apollo Hospitals for these targets
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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