Divi's Labs & Bharti Airtel: What Mileen Vasudeo of Arihant Capital says on these 2 stocks

Mileen Vasudeo, Senior Technical Research Analyst at Arihant Capital Markets, on Wednesday said 21,450 is a make or break level for Nifty. "If the said level is broken, then the index could slip towards 21,300-21,200. In case Nifty holds 21,400, then there is a fair chance that it will retest prior high level," Vasudeo told Business Today TV.

On the stock-specific front, the market expert selected Divi's Laboratories Ltd as one of his top picks for the day. "One can buy the stock at current levels. Stop loss would be Rs 3,900 and target would be Rs 4,144," he stated. The stock was last seen trading 0.17 per cent lower at Rs 3,977.05.

The other stock which the market veteran suggested was Bharti Airtel Ltd. "The stock may see a target of Rs 1,150 in a couple of days. Keep stop loss placed at Rs 1,030," Vasudeo said. The counter slipped 0.52 per cent to trade at Rs 1,059.35.

Meanwhile, Indian equity benchmarks were trading on a flat note today. Mid- and small-cap shares were weak as Nifty Midcap 100 slipped 0.13 per cent and small-cap shed 0.07 per cent.

Foreign institutional investors (FIIs) sold off Indian shares worth Rs 990.90 crore during the previous session, on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 104.23 crore.

Nine out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty Consumer Durables and Nifty IT were outperforming the NSE platform by rising as much as 0.66 per cent and 0.33 per cent, respectively. In contrast, Nifty Oil & Gas and Nifty Auto slipped 0.96 per cent and 0.30 per cent.

On the stock-specific front, SBI Life was the top gainer in the Nifty pack as the stock jumped 2.70 per cent to trade at Rs 1,488.5. Adani Enterprises, Cipla, HCL Tech and HDFC Life rose up to 1.53 per cent.

In contrast, BPCL, ONGC, NTPC, Eicher Motors and Coal India were among the top losers.

The overall market breadth was slightly positive as 1,679 shares were advancing while 1,417 were declining on BSE.

(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)

 

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