Buy Bank of Baroda, Axis Bank, Avoid Just Dial: Ruchit Jain

Ruchit Jain says market bottom is still not in place.

Ruchit Jain says market bottom is still not in place.

Ruchit Jain, equity technical analyst at Angel Broking, says there is no certainty that a market bottom is in place. A pullback towards 7,240 is possible as long as Nifty holds 6,870, he added. (Watch)

Stock Talk

Buy Bank of Baroda: The stock has broken on the upside with good volumes after Q3 results were announced. It could head towards Rs 147 in next 2-3 days.

Buy SBI: It is trading around its long term support zone. A pullback move can take the stock towards Rs 178-180 levels.

Buy Axis Bank: The stock is consolidating after a sharp fall and downside is limited. It can give good returns in the near term.

Buy Tata Motors: The stock has shown good volumes around its support zone of Rs 270-280, which indicates buying is taking place. It can rise to Rs 335-Rs 350 in the near term.

Avoid Adani Ports: The stock is forming lower tops and lower bottoms, which is a bearish signal. It has broken its long-term support of Rs 240. Sell the stock if it pulls back towards Rs 235.

Avoid Just Dial: The current upmove is on account of short covering and the trend remains down. Once the short covering rally gets over, the stock can fall to Rs 400.

[“source-ndtv”]