Market expert Kush Ghodasara said index-wise 23,800 would act as strong support for Nifty50. "If it can sustain above Rs 23,800, then there could be decent momentum. Traders should keep a stock- and sector-specific approach," the market expert told Business Today on Wednesday.
On crisis-hit IndusInd Bank Ltd shares, he said, "From a trading perspective, one can go long if the stock sustains above Rs 675 for a risky momentum play with a stop loss of Rs 645. The expected target would be Rs 800. For investment purposes only, I would suggest to wait and watch. This is the second time in eight years that IndusInd Bank is in such corporate news. So, avoid long-term investment and don't be in a hurry that you will miss the bus."
In response to a query on Zomato Ltd, Ghodasara said, "It is not just a food delivery app, now one should consider it as a super app. On the level-specific front, any corrections towards the Rs 180 level would be a good level to accumulate. Rs 160 would be the stop loss, expecting a target of Rs 450 in the long term."
When asked about Bajaj Finance Ltd shares, the market expert said, "The counter may face some pressure in the short term. Investors should book profit at current levels. One can enter again near Rs 8,800 level."