Bulls will only be able to take control once the Nifty reclaims its 200-DMA, which is placed at around 10,750 on a closing basis

After witnessing a blockbuster November, the Sensex and Nifty have fallen around 800 points and 300 points, respectively, in December so far. The sudden fall opened up room for both buy-side and sell-side trading ideas.

The Indian market witnessed profit booking in the first week of December, thanks to weak global cues, uncertainty around results of assembly elections in five states due next week, and the rupee depreciating vis-à-vis
the dollar.

The selling pressure may persist in the coming week and investors are advised to remain cautious. Bulls will only be able to take control once the Nifty reclaims its 200-DMA, which is placed at around 10,750 on a closing basis, experts suggest.

“The Nifty has formed a rising wedge pattern on the daily chart and has also broken down from the same. This indicates that the short term trend has once again broken,” Hadrien Mendonca, Senior Technical Analyst at IIFL, told Moneycontrol.

Here are 8 stock trading ideas that could return 5-14% in the next 1-6 months:

Analyst: Hadrien Mendonca, Senior Technical Analyst, IIFL

Bajaj Finserv: Sell| LTP: Rs 5,673| Target: Rs 5,375| Stop Loss: Rs 5,802.5| Return: 5%

The stock has been consolidating for the past three trading sessions and has finally broken down from the rising channel pattern seen on the daily chart.
Ashok Leyland: Sell December Futures| LTP: Rs 101.90| Target: Rs 95| Stop Loss: Rs 105.5| Return: 6%

The stock has been under pressure for the past four weeks and has finally broken down from a Descending Triangle pattern on the daily chart.

Reliance Industries: Sell at Rs 1,130-1,140| LTP: Rs 1,123| Target: Rs 1,050-1,016| Stop Loss: Rs 1,187| Return: 6%
Jindal Steel: Buy| LTP: Rs 149.40| Target: Rs 164| Stop Loss: Rs 142| Return: 10%

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source: moneycontrol.com