Share Investment Ideas: On Friday, Indian market also closed with gains on the basis of global market movements. NSE Nifty and BSE Sensex closed at record highs. Bank Nifty closed at 43,938, up 494 points. Experts believe that Nifty now has strong support near 18,650 while it will face resistance near 18,900 levels. The Nifty is now just 61 points away from its all-time high of 18,887. It is advisable to buy three shares on Monday.
Cipla shares can also be bought on the first day of next week. After rising from lower levels, the stock has found a strong support zone near 970 levels. Apart from this, this stock has crossed the level of 1000. Cipla has a Bullish candle on the weekly chart which shows its strength. The RSI indicator also remains above 65. The stock has maintained 20 EMA on daily chart which means solid traction can be seen. Currently this stock is running at 1006. But it should be bought between 990 to 995 levels. This stock can go from 1040 to 1045. Cipla has a stoploss of Rs 975.
Expert advice is also given for ITC shares. The stock is currently trading at 453 and is counted among the strongest stocks in the FMCG sector. Technical indicators show a bullish outlook. The RSI for the stock is standing at 67 indicating a positive crossover. At current levels, it has been advised to buy, for which the target will be Rs 479. The stoploss for this stock will be Rs 439.
The third stock to buy on Monday is Mahindra & Mahindra Finance. The stock is currently trading at 305 and resistance will be seen near 299 levels. The stock has made a strong upward move and a breakdown can be seen on the charts. If this stock drops near 300 level then there will be a buying opportunity. Mahindra & Mahindra Finance is trading above all important moving averages. Buy this stock around 300 with target price of Rs 300. 317 will remain. The stoploss for this stock is Rs. 298 will remain.