Sharekhan prefers stocks such as Ashok Leyland, Tata Motors, Hero MotoCorp, M&M and Maruti Suzuki. Tata Motors and Ashok Leyland are our top OEM picks, the brokerage said.
Railways stocks: Among individual stocks, Texmaco Rail & Engineering Ltd soared 17.97 per cent to hit a one-year high of Rs 154.60. The counter finally ended the session with 13.28 per cent gains at Rs 148.45. Bourses BSE and NSE have put the securities of Texmaco under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
BSE Sensex gained 110.09 points, or 0.17 per cent, to settle at 64,996.60, while NSE's Nifty rose 40.25 points, or 0.21 per cent, to end at 19,306.05 for the day.
Nifty Bank has strong resistance at 44,600, which is close to its 50- and 20-day EMA levels. If Nifty Bank breaches the mentioned resistance, it can move higher towards 45,250.
Mphasis was consolidating in a broader range of Rs 1,800-2,050 levels during the months of April to June. Thereafter the stock witnessed a breakout on the daily chart.
YES Bank is trading in an ascending channel pattern on the daily chart. It has approached the lower end of the channel. It has seen consolidating in a small range for the last 20 days.
Suzlon Energy topped the volume chart on NSE. The stock was up 2.29 per cent at Rs 22.35, as 18,36,34,302 shares worth Rs 412.62 crore changed hands on the counter by 1.20 am.
The pattern analysis of Nazara Technologies on the weekly timeframe shows that the price action has entered into its stage 2 following a brief consolidation phase.
Top stock picks for today: "We would be seeing selective buying across sectors such as railways, infrastructure, defence, capital goods and automobile. Investors need to give a little more time and patience. Risk reward would come over a period of time," Avinash Gorakshakar told BT TV on Thursday.
Bernstein's 12-month target price for Paytm at Rs 1,100 is 8 per cent higher than the consensus estimate of Rs 1,018 and suggests 21 per cent potential upside over Wednesday's closing price of Rs 905.60.
BHEL has started consolidating and is showing signs of accumulation. A move beyond Rs 115 is likely to trigger further bullish momentum towards its swing highs of Rs 130.
Syrma SGS Tech shares will see 1-year lock-in expiry on August 25. A total of 4.22 crore Syrma SGS Tech shares are locked in, accounting for 24 per cent of the total outstanding shares.
L&T played a role in the launch of LVM3 M4 Chandrayaan mission. The critical booster segments were manufactured and proof pressure tested at L&T’s Facility in Powai.
It has initiated its coverage on Apollo Hospitals, Max Healthcare, Fortis Healthcare and Krishna Institute of Medical Sciences with a 'Buy' rating. Narayana Hrudayalaya and Max are top picks followed by Fortis, Apollo and Krishna Institute of Medical Sciences.
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