Equity markets continued to witness selling pressure for second consecutive day amid weak global cues and rising inflation concerns.
"Overall market is in consolidation mode as valuations are rich despite good quarterly performance. Overall 2QFY22 earnings came in above our expectations, led by a) cyclical sectors (such asO&G and Metals), b) improved asset quality in the BFSI sector, and c) strong topline growth in the Technology sector. The quarter brought to the fore two important trends: an improving demand environment and the impact of rising input costs on operating margins. However, global cues are keeping markets volatile - as inflation concerns have dominated headlines and the Fed also announced tapering by USD15b/month. We expect the long term fundamentals of the market to remain positive and hence advice investors to keep accumulating quality stocks on declines. In the near term however, market may remain under pressure until fresh positive triggers appears," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Here are 5 buy and sell stock ideas from technical experts:
1) Manoj Dalmia, Founder and Director, Proficient Equities Private limited
Birla Soft: Buy the stock at Rs 455, Sell at Rs Rs 491, Stop Loss at Rs 440
NRB Bearing: Buy the stock at Rs 155, Sell the stock at Rs 171, Stop Loss at Rs 148
2) Dr. Ravi Singh, Head of Research & Vice President, ShareIndia
Tech Mahindra: Buy at Rs 1612, sell at Rs 1640, Stop loss at Rs 1595
Thyrocare: Buy the stock at Rs 1210, Sell the stock at Rs 1240, Stop loss at Rs 1190.
3) Ravi Singhal, Vice chairman, GCL Securities Limited
Birla Soft: Buy the stock at Rs 475, Stop loss Rs 466, Target Rs 500.