Focus on pharma, tech stocks
Today was a bad day for the market. The breadth of the market was very extremely poor. About 2/3 of the listed stocks were down, however, all the sectors are closed in negative territory.
Sensex loses 350 points, RIL shares down 2%
Stock Picks
l ABBOTINDIA - Above 14950 with a target of 15100 and Stop loss of 14850. It has formed a long-time consolidated channel and is on the verge of a breakout.
2. AJANTA PHARMA - Above 1832 with a target of 1865 and Stop loss of 1805. It has reversed from the support zone.
3. VGUARD - Above 240 with a target of 255 and Stop loss of 230. It has reversed from the support of 8 and 40 EMA.
4. SYNGENE - Above 530 with a target of 545 and Stop loss of 517. It has a support of 8 EMA.
5. ASIAN PAINT - Above 2480 with a target of 2520 and Stop loss of 2440. It has reversed from the support of 8 and 40 EMA.
(Source- CapitalVia)
Mumbai: Today was a bad day for the market. The breadth of the market was very extremely poor. About 2/3 of the listed stocks were down, however, all the sectors are closed in negative territory. The Sensex has also closed lower so far 49,180. With tomorrow's monthly and quarterly closing day for the month of March, the market is likely to be in turmoil phase and the Sensex may fall to 48,580 to 48,300 levels. "The focus should be on Pharmaceuticals and Technology companies to buy in the panic liquidations," says Shrikant Chouhan, EVP, equity technical research at Kotak Securities.
