Top 5 share: Recent fluctuations in global markets have cast a shadow on the Indian stock market, resulting in mounting pressures. The Nifty has slid by nearly 100 points. This decline has been influenced by significant players like Infosys, Axis Bank, HDFC Bank, and Reliance. Furthermore, the Bank Nifty also appears weak, though midcap shares are outperforming.
A negative report from UBS on Indian banks caused a downward drift in the shares of government banks. The Nifty PSU Bank Index has declined by over 1.5%. Major banks such as Bank of Baroda, Canara Bank, and SBI have slipped by 1.5 to 2%. Metal shares too are facing profit booking. On the bright side, the Q2 results of Infosys were favorable, but a decrease in growth guidance has led to market discontentment. The share price has sunk by nearly 3%, hitting a two-month low.
In light of these market conditions, top experts on CNBС-Awaaz have given their stock recommendations based on technical analysis. Here’s a brief look at some of these suggestions:
- SBI Life share: Prakash Gaba has recommended a purchase in SBI Life. He suggests buying with a target of ₹1330/1340 and a stop-loss at ₹1308.
- Petronet LNG Share: Manas Jaiswal advocates for purchasing in Petronet LNG. His advice is to buy with a goal of ₹233 and a stop-loss at ₹125.90.
- PVR Share: Rajesh Satpute proposes buying in PVR. He recommends a purchase with a target of ₹1800/1820 and a stop-loss set at ₹1730.
- Tech Mahindra Share: Ashish Baheti suggests buying in Tech Mahindra. He advises to buy with a price aim of ₹1160/1110 and a stop-loss at ₹1210.
- RBL Bank Share: Prashant Sawant has recommended a purchase in RBL Bank. He proposes a purchase with a goal of ₹265 and a stop-loss at ₹245.