Last week witnessed a weak sentiment in global markets due to accommodative policy by US Fed. Its effect has also been seen on the Indian market. Last week, the BSE Sensex was at a new high of 63,601. Nifty also made a level of 18,887. If you want to invest in the market now, then it is advisable to choose large cap stocks. When experts were talked about this, they have suggested three stocks. These stocks include Bharti Airtel, Asian Paints and Sun Pharma.
The first stock to buy in this list is Asian Paints. This stock can be bought around 3297. The target price of Asian Paints shares is Rs. would be 3460. For that a stoploss of Rs 3200 can be kept. For Asian Paints, Rs 3345 is a surface hurdle and correction is seen from there. However, it has seen a sharp jump from the initial support of Rs.3240. Bullish candle is visible in this stock on the daily chart. Once the stock crosses the resistance of 3345, it will face resistance at 3460. The RSI indicator of this stock is also at the level of 64, which means that the stock will witness an uptrend. Last Friday, Asian Paints shares closed at Rs 3,297, up 1.50 per cent. Fifty two week high level of this stock is Rs. 3582 while the 52 week low was Rs. 2674, this stock has gained around 17 per cent in the last one year.
Apart from this, it is advised to buy Bharti Airtel shares at Rs.854. The target price of the stock is Rs. 882 will be left. The stoploss for Airtel shares is Rs. 832 can be kept. From the price action it seems that Airtel has a strong bullish signal. The stock is currently trading above the 20 day DMA. According to experts, positive volume flow is being seen in Bharti Airtel shares. It would be more appropriate to enter this stock at 847 to 850 levels. Last Friday, Bharti Airtel shares gained one per cent and closed at Rs 851. In the last one year, the share of Bharti Airtel has increased by 24 percent.
Experts are currently advising to buy Sun Pharma shares. There is a buy recommendation on Sun Pharma with a target price of Rs 991. 1023 while the stoploss would be Rs. It is advised to keep 975. In addition, Sun Pharma’s position is above 20-50-100-200 EMA.