Overall market trend remains bullish: Devang Shah

• Follow

Indian market opened in the green on Tuesday with Sensex at a record high following positive global cues. All the sectoral indices were trading positive with auto, oil & gas, power, realty, capital goods and PSU bank indices up 1% each. The rise was led by broad-based buying across sectors with auto, energy and banking stocks adding the most. Broader markets were also in line with benchmarks with the midcap and smallcap indices up around a percent each.

Devang Shah, Technical Research Analyst, Angel Broking shared insights on Money9 and said, “Markets have been quite volatile in the past few trading sessions, so what we are seeing is a sharp bounce from those corrections. Overall trend for the markets remains positive and investors must adopt a ‘buy on declines’ strategy. “For Nifty 15,700 would be the immediate support level while the resistance is placed at 15,900-15,950”

Stock Recommendations:  Devang Shah shared three stocks as his top trading bets for the day.

Reliance Industries |Target Price : Rs 2330, : Rs 2170

NTPC | Target Price: 123, Stop Loss : Rs 114

Berger Paints | Target Price: Rs 860, Stop Loss : Rs 807