Chola Finance, Voltas, Kotak Bank & HDFC Bank: What Osho Krishan of Angel One says on these 4 stocks

Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, on Tuesday said there's a strong buzz in the broader markets. On the stock-specific front, the market expert selected Cholamandalam Financial Holdings Ltd as one of his top picks for the day. "One can buy Chola Finance shares at current levels for upside targets of Rs 1,200, followed by Rs 1,220. Keep stop loss placed at Rs 1,140," Krishan told Business Today TV.

Chola Finance shares were last seen trading 0.29 per cent lower at Rs 1,009.75 today.

The other stock which he suggested was Voltas Ltd. "The stock has profit booking at higher levels but it has the potential to touch Rs 880. Any dip towards Rs 840-845 should be considering as a buying opportunity. Keep stop loss at Rs 827 for a higher target of Rs 880," the analyst from Angel One stated.

Voltas was up 0.33 per cent to trade at Rs 856.50.

When asked to pick a blue-chip counter, he said Kotak Mahindra Bank Ltd and HDFC Bank looked promising. "We can see a gradual up move in both the counters from here onwards," Krishan mentioned.

Kotak Bank shares rose 0.25 per cent to trade at Rs 1,848.60 in early deals and HDFC Bank's stock edged 0.02 per cent higher at Rs 1,651.10.

Meanwhile, Indian equity benchmarks extended their upward run for the third consecutive session today, led by gains in consumer and state-owned lenders. Broader market (small- and mid-cap shares) were up too as Nifty Midcap 100 rose 0.21 per cent and small-cap climbed 0.58 per cent.

14 out of the 15 sector gauges -- compiled by the NSE -- were trading in the green. Sub-indexes Nifty FMCG, Nifty Consumer Durables and Nifty PSU Bank were outperforming the NSE platform by rising as much as 0.54 per cent, 0.63 per cent and 0.45 per cent, respectively. However, Nifty Oil & Gas slipped.

On the stock-specific front, HDFC Life was the top gainer in the Nifty pack as the stock jumped 2.07 per cent to trade at Rs 686.4. Bajaj Auto, Hero MotoCorp, SBI Life and Tata Steel gained up to 1.74 per cent.

In contrast, Eicher Motors, Bharti Airtel, Coal India, ONGC and Infosys were among the top laggards.

The overall market breadth was positive as 2,081 shares were advancing while 781 were declining on BSE.

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

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