Tata Consumer, BoB, Titan & Delta Corp: Here's what Sudeep Shah of SBI Securities says on these stocks

Sudeep Shah, Head, Tech & Derivatives Research at SBI Securities on Tuesday said the domestic benchmarks are highly volatile. Given the current scenario, the market expert told BT TV that his first pick for today would be from the FMCG (Fast-moving consumer goods) space, i.e.: Tata Consumer Products Ltd. For this FMCG counter, Shah said, "We are now eyeing afresh breakout and we feel this move can continue up to Rs 940-950 on the upside. One can buy this stock with a stop loss of Rs 885."

His next pick was from the PSU banking sector: Bank of Baroda (BoB). "One can buy at current levels with a stop loss of Rs 210. Till the time Rs 210 holds, daily and weekly charts are strong and the up move can continue Rs 228-232," Shah mentioned.

When asked about large-cap stocks, the market expert said, "Titan Company Ltd is doing well. This stock can be bought at current levels, keeping a stop loss at Rs 3,250. The up move can continue up to Rs 3,400-Rs 3,430 levels."

Shah also liked Larsen & Toubro Ltd (L&T) and Axis Bank Ltd due to above-average rollovers and the company stocks could be in next action while going to the expiry week.

In response to a query on Bajaj Finance Ltd, the market expert said one can keep a stop loss at Rs 7,690 for an upside target of Rs 8,050-8,100 on a positional basis.

Shah also shared his view on Escorts Kubota Ltd. "The stock could continue to head higher towards Rs 3,400-Rs 3,450 in the next few sessions. Support for Escorts would be at Rs 3,170."

For Eicher Motors, Shah said, "If the stock crosses Rs 3,500, it may move up to Rs 3,600-3,650 in the next few sessions. Support would be at Rs 3,400 from now on.

The market expert also gave a strict word of caution for Delta Corp Ltd. "For now, stay away from the stock. It is headed downwards."

Meanwhile, Indian equity benchmarks traded almost flats in early trade today. On the other hand, broader market (mid- and small-cap) shares were positive.

Foreign institutional investors (FIIs) sold shares worth Rs 2,333.03 crore on a net basis during the previous session, while domestic institutional investors (DIIs) bought Rs 1,579.28 crore, as per provisional stock exchange data.

Six out of the 15 sector gauges -- compiled by the NSE -- were trading in the red. Sub-indexes Nifty IT, Nifty Bank and Nifty Financial Services were underperforming the NSE platform by falling as much as 0.56 per cent, 0.14 per cent and 0.22 per cent, respectively. However, Nifty Metal, Nifty Consumer Durables and Nifty Oil & Gas were up 1.26 per cent, 0.28 per cent and 0.27 per cent.

On the stock-specific front, Asian Paints was the top loser in the Nifty pack as the stock cracked 1.42 per cent to trade at Rs 3,276. Bajaj Finserv, Tech Mahindra, Tata Consultancy Services and Kotak Mahindra Bank gained up to 1.29 per cent.

In contrast, Eicher Motors, Tata Steel, Bajaj Auto, NTPC and Dr Reddy's were among the top laggards.

The overall market breadth was positive as 2,059 shares were advancing while 1,199 were declining on BSE.

(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)

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